MIRA INFORM REPORT

 

 

Report Date :

04.08.2011

 

IDENTIFICATION DETAILS

 

Name :

H.M. INDUSTRIES (PRIVATE) LIMITED

 

 

Registered Office :

Plot No. S-25, S.I.T.E., Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

2003

 

 

Com. Reg. No.:

0045915

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture, Processing, Export & Import of Pulses, Foodstuffs and other Commodities

 

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

 

 

Payment Behaviour :

Unknown

 

 

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

 

H.M. INDUSTRIES (PRIVATE) LIMITED

 

 

Full Address       

 

Registered Address

Plot No. S-25, S.I.T.E., Karachi, Pakistan

                       

Tel #

92 (21) 32413216, 32414451

Fax #

92 (21) 32416853

 

 

Short Description Of Business

 

Nature of Business        

Manufacture, Processing, Export & Import of Pulses, Foodstuffs and other Commodities

Year Established

2003

Registration #

0045915

 

 

Head Office

           

1st & 2nd Floor, Adam Building,

Mohammad Feroz Street, Jodia Bazar,

Karachi-74000, Pakistan

 

 

Auditors

 

Muneer Ahmed & Co.

(Chartered Accountants)

5, Masoom Shah Bukhari, New Neham Road, Kharadar, Karachi, Pakistan

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 2003

 

Authorized Capital

Rs. 20,000,000/- divided into 200,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 20,000,000/- divided into 200,000 shares of Rs. 100/- each

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Mohammed Ahmed

 

 

 

Mr. Mohammed Ali

Pakistani

 

 

 

 

Pakistani

 

 

 

House # 3, Hussein Cooperative Society, Block-3, P.E.C.H.S., Karachi

 

House # 3, Hussein Cooperative Society, Block-3, P.E.C.H.S., Karachi

Business

 

 

 

 

Business

 

 

 

Chief Executive

 

 

 

 

Director

 

 

 

 

Shareholders                

 

Names

No. of Shares

Mr. Mohammed Ahmed

 

Mr. Mohammad Ali

 

Mrs. Farzana Bai

 

Mrs. Yasmin Bai

 

Mrs. Anisa Bai

 

Mrs. Samina Bai

 

Mrs. Rukhsana Bai

 

Mrs. Mehrunnisa Bai

 

Mrs. Nabila Bai

5,900

 

100

 

34,000

 

40,000

 

24,000

 

24,000

 

24,000

 

24,000

 

24,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None                                            

           

B.         Associated Companies

 

(1)     Ahmed Oil Industries, Pakistan.

(2)     Taj Oil Industries, Pakistan.

(3)     MAMA Industries (Pvt) Limited, Pakistan.

(4)     Union Magnetics, Pakistan.

(5)     Awam (Private) Limited, Pakistan.

(6)     Abdul Wahid Abdul Majid (Pvt) Limited, Pakistan.

 

 

Business Activities

 

Subject Company is engaged in the business as manufacture, processing, export & import of Pulses, Foodstuffs and other Commodities.

 

It purchases raw material against L/C, D/A basis.

 

It sells against Credit terms to its local customers.

 

It’s mainly import from China, India, Vietnam, Canada, Australia, Burma, Singapore.

 

Its major customers are Traders, Retailers, Food Companies etc

 

Subject operates from caption leased office premises of area measuring 1,800 Sq.ft. which is situated in commercial area.

 

Subject employs about 55 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

80,000,000/- (Estimated)

 

 

Production Capacity

 

It has a capacity of annually processing 15,000 metric tons of Pulses

 

 

Trade Suppliers (Foreign)

 

Various international belongs to China, India, Vietnam, Canada, Australia, Burma & Singapore

 

 

Bankers

 

(1)     Meezan Bank Limited, Pakistan.

(2)     Faysal Bank Limited, Pakistan.

(3)     MCB Bank Limited, Pakistan.

(4)     Habib Bank Limited, Pakistan.

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

·         Karachi Wholesale Grocers Association.(KWGA)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 86.00

UK Pound

1

           Rs. 140.00

Euro

1

           Rs. 122.00

 

 

Comments

 

Subject Company was established in 2003 and is engaged in manufacture, processing, export & import of Pulses, Foodstuffs and other Commodities. Market reputation is good. Trade relations are reported as fair. Company can be considered for normal business dealings at usual trade terms and conditions.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.38

UK Pound

1

Rs.72.20

Euro

1

Rs.62.87

 

 

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.