MIRA INFORM REPORT

 

 

Report Date :

18.11.2011

 

IDENTIFICATION DETAILS

 

Name :

RASHEED SONS (PVT) LIMITED

 

 

Registered Office :

Sattar Villa A, 32-1-C-1/6 P.E.C.H.S., Near Hill Park, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

1989

 

 

Com. Reg. No.:

0020833

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Engaged in import, indenting & trading of Chemicals, Pharmaceutical Raw Materials, Flavoring Essence etc

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Pakistan

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

                                   

Business Name

 

RASHEED SONS (PVT) LIMITED

 

 

Full Address       

 

Registered Address

Sattar Villa A, 32-1-C-1/6 P.E.C.H.S., Near Hill Park, Karachi, Pakistan

                       

Tel #

92 (21) 34314150, 34314160, 343161618

Fax #

92 (21) 34556338

 

 

Short Description Of Business

 

a.

Nature of Business        

Engaged in import, indenting & trading of Chemicals, Pharmaceutical Raw Materials, Flavoring Essence etc

b.

Year Established

1989

c.

Registration #

0020833

 

 

Branches

 

1st Floor, Nizamia Corner, Opp. Denso Hall,

M.A. Jinnah Road, Karachi, Pakistan

 

 

Auditors

           

Haroon Associates

(Chartered Accountants)

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1989

 

Authorized Capital

Rs. 2,000,000/- divided into 200,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 593,660/- divided into 59,366 shares of Rs. 10/- each

 

Details of Directors

 

Names

Designation

Mr. Shakil Yousuf

 

Mr. Omeir Shakil

 

Mr. Talha Shakil

Chief Executive

 

Director

 

Director

 

 

Shareholders                

           

Names of Shareholders

No. of Shares

Mr. Shakil Yousuf

 

Mr. Omeir Shakil

 

Mr. Talha Shakil

 

Mrs. Sumiya Shakil

21,734

 

16,040

 

10,504

 

11,088

 

 

Associated Companies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

None

 

           

Business Activities

 

Engaged in import, indenting & trading of Chemicals, Pharmaceutical Raw Materials, Flavoring Essence etc

 

 

Number of Employees

 

10

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2010

60,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

 

 Subject mainly import from China, Italy, Germany, Taiwan, India, Korea, U.K. & U.S.A.               

 

Customers

 

Mainly Pharmaceutical Companies, Trading Companies etc

 

Bankers

 

(1) Bank Al-Habib Limited, Pakistan.

(2) Bank Alfalah Limited, Pakistan.

(3) Askari Bank Limited, Pakistan.

(4) Citibank N.A., Pakistan.

(5) United Bank Limited, Pakistan.

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 86.75

UK Pound

1

           Rs. 136.40

Euro

1

           Rs. 116.80

 

Comments

 

Subject Company enjoys good reputation in Pakistan. Trade relations are reported as fair. Payments are usually correct and as per commitments. Subject can be considered for normal business dealings at usual trade terms and conditions.

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.72

UK Pound

1

Rs.79.88

Euro

1

Rs.68.46

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.