MIRA
INFORM REPORT
|
Report Date : |
01.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
MAGENTA |
|
|
|
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Registered Office : |
Plot # 26, Sector 23, Korangi Industrial Area,
Karachi |
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|
|
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Country : |
Pakistan |
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|
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Year of Establishment : |
2001 |
|
|
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Legal Form : |
Proprietorship |
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|
|
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Line of Business : |
Exporters of
Textile Made-ups. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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
MAGENTA
Full Address
|
Registered
Address & Factory |
|
Plot # 26, Sector 23, Korangi Industrial
Area, Karachi, Pakistan |
|
Tel |
92 (21) 35061912, 35060584 |
|
Fax |
92 (21) 35060584 |
|
Email |
Short Description Of Business
|
a. |
Nature of Business |
Exporters of
Textile Made-ups. |
|
b. |
Year Established |
2001 |
Branches
|
None |
Legal Status
|
Subject Company was established as a Proprietorship business in 2001 |
Details of Proprietor
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mrs. Nargis Shahid Soorty |
Pakistani |
47/11,
Khayaban-e- Shahbaz, Phase VI, D.H.A., Karachi |
Business |
Proprietor |
Associated Companies
A. Subsidiary
None
B. Associated
Companies
(1) Soorty
Enterprises (Private) Limited. (Manufacturers and exporters of readymade
garments
Product/Services
Blouses with hand embroideries, Traditional
Kurtis, Shalwar Kameez, Saris, Western Style Shirts, Blouses, Skirts, Capes,
Baleros, Wraps, Scarf with embroideries.
Number of Employees
90
Annual Production Volume
|
Year |
Number of Pieces |
|
2009 |
60,000 Dozens Per Annum |
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2009 |
60,000,000/- (Estimated) |
Trade Suppliers (Foreign)
Subject mainly import from Companies belongs to China, India &
Europe
Customers
|
Mainly Buying Agencies, Distributors all
over the world |
Exporting Countries
|
Mainly to United Kingdom & Middle East
Countries |
Bankers
(1)
Bank Al-Habib Limited,
Pakistan.
(2)
Bank Alfalah Limited,
Pakistan.
(3)
Habib Metropolitan Bank
Limited, Pakistan.
(4)
MCB Bank Limited,
Pakistan.
Profile Of Proprietor
Nargis Soorty
-
Graduate in Bachelor of
Arts & summer school in Pattern Cutting and Designing from London School of Fashion.
-
Also a member of London
Fashion Forum.
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 88.00 |
|
UK Pound |
1 |
Rs. 138.50 |
|
Euro |
1 |
Rs. 120.50 |
Comments
Subject Company was established in 2001 and is
engaged in manufacture & export of Textile Made-ups.
Proprietor of the Company is reported as qualified & experienced
businesswoman. Trade relations are reported as fair. 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.48.92 |
|
|
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.64 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.