MIRA INFORM REPORT

 

 

Report Date :

02.09.2011

 

IDENTIFICATION DETAILS

 

Name :

TAPAL TEA (PVT) LIMITED

 

 

Registered Office :

Plot # 40, Sector 15, Korangi Industrial Area, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

1979

 

 

Com. Reg. No.:

0006795

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Engaged in Blending & Packaging of Tea

 

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 – March 31st, 2010

 

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

 

TAPAL TEA (PVT) LIMITED

 

 

Full Address       

 

Registered Address & Factory

Plot # 40, Sector 15, Korangi Industrial Area, Karachi, Pakistan

                       

Tel #

92 (21) 35063891 - 94 (4 Lines)

Fax #

92 (21) 35063890

Email

info@tapaltea.com

 

 

Short Description Of Business

 

a.

Nature of Business        

Engaged in Blending & Packaging of Tea

b.

Year Established

1979

c.

Registration #

0006795

 

 

Branches

 

In all major cities including Karachi, Lahore, Rawalpindi & Multan

           

Auditors

           

KPMG Taseer Hadi & Co.

(Chartered Accountants)

First Floor, Sheikh Sultan Trust Building No. 2, Beaumont Road, Karachi, Pakistan

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1979

 

 

Authorized Capital

Rs. 500,000,000/- divided into 5,000,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 300,000,000/- divided into 3,000,000 shares of Rs. 100/- each

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Aftab F. Tapal

 

 

 

Mr. Faizullah A. Tapal

Pakistani

 

 

 

Pakistani

 

 

D-61, Block 7, Kehkashan, Clifton, Karachi

 

D-61, Block 7, Kehkashan, Clifton, Karachi

Business

 

 

 

Business

 

 

Chief Executive

 

 

Director

 

 

 

 

Shareholders                

 

Names

No. of Shares

Mr. Aftab F. Tapal

 

Mr. Faizullah A. Tapal

 

Mrs. Amina F. Tapal

 

Mrs. Rashida A. Tapal

 

Miss. Kumail A. Tapal

 

Miss Maria A. Tapal

 

Miss Mehvish A. Tapal

1,200,000

 

150,000

 

150,000

 

500,000

 

500,000

 

250,000

 

250,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

None                                           

           

 

Associated Companies

 

(1)     Tapal Energy (Pvt) Limited, Pakistan.

(2)     Tapal Enterprises (Pvt) Limited, Pakistan.

 

 

Products

 

Engaged in Blending & Packaging of Tea by its brand names of TAPAL DANEDAR, TAPAL ICE TEA, TAPAL FAMILY MIXTURE, TAPAL CHENAK, TAPAL MEZBAN, TAPAL TEZDUM

Number of Employees

 

420

 

 

Annual Production Volume

 

Annual production volume is indeterminable as it multiproducts and involves various process of manufacturing

 

 

Annual Sales Volume (Last Two Years)

 

Year

In Pak Rupees

2009

9,770,057,000/-

 

 

Suppliers (Foreign)

 

(1)     TEA IMPORTERS INC, MOMBASA.

(2)     WILLIAMSON TEA KENYA LIMITED, MOMBASA.

(3)     KENYA TEA DEVELOPMENT AGENCY, MOMBASA.

(4)     KIBENA TEA LIMITED, DARESSALAM.

 

 

Customers

 

Various local & International

 

 

Bankers

 

(1)     ABN AMRO Bank, Pakistan.

(2)     Faysal Bank Limited, Pakistan.

(3)     Standard Chartered Bank, Pakistan.

(4)     Habib Metropolitan Bank Limited, Pakistan.

(5)     MCB Bank Limited, Pakistan.

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

·         Federation Pakistan Chamber Of Commerce & Industry.(FPCCI)

Foreign Exchange Rates

 

Currency

 
Unit

Pakistani Rupee

US Dollar

1

           Rs. 86.65

UK Pound

1

           Rs. 141.80

Euro

1

           Rs. 125.20

 

 

Comments

 

Subject Company was established in 1979 and is engaged in Blending & Packaging of Tea. Chief Executive as well as director is reported as qualified, resourceful and experienced businessmen. 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.46.01

UK Pound

1

Rs.75.42

Euro

1

Rs.66.69

 

 

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.