MIRA INFORM REPORT

 

 

Report Date :           

20.09.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

SHANGRILA (PVT) LIMITED

 

 

Registered Office :

293/16, Block 3, B.Y.J.C.H.S., Bahadurabad, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

2005

 

 

Com. Reg. No.:

0052696  

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture & Marketing of Food & Allied Products

 

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

 

Maximum Credit Limit :

US $ 50,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct 

 

 

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

 

 Bottom of Form

Business Name

 

SHANGRILA (PVT) LIMITED

 

 

Full Address       

 

Registered Address

Factory Address

293/16, Block 3, B.Y.J.C.H.S., Bahadurabad, Karachi, Pakistan

C 1(D)-3, Sector16, Korangi Industrial Area 74000 Karachi, Pakistan

                       

Tel #

92 (21) 34855654, 34855655, 34855656

 

Tel #

92 (21) 35069572

Fax #

92 (21) 34855657

 

Fax #

92 (21) 35069573

Email

 info@shangrila.com.pk

 

 

 

Short Description Of Business

 

a.

Nature of Business        

Manufacture & Marketing of Food & Allied Products

b.

Year Established

2005

c.

Registration #

0052696  

 

 

Auditors

 

M. Yousuf Adil Saleem & Company

Cavish Court, A-35, Block 7 & 8, KCHSU, Shahrah-e-Faisal, Karachi, Pakistan

 

 

Legal Status       

 

Subject Company was established as a Private Limited Company in 2005

 

 

Authorized Capital

Rs. 100,000,000/- divided into 10,000,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 50,000,000/- divided into 5,000,000 shares of Rs. 10/- each

 

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Mansoor Ahmed

 

 

 

Mr. Munir Ahmed

 

 

 

Mr. Atif Ahmed

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

 

D-21, Block 1, K.A.E.C.H.S., Karachi

 

D-21, Block 1, K.A.E.C.H.S., Karachi

 

D-21, Block 1, K.A.E.C.H.S., Karachi

Business

 

 

 

Business

 

 

 

Business

 

 

Chief Executive

 

 

 

Director

 

 

 

Director

 

 

 

 

Shareholders                 

 

Names

No. of Shares

Mr. Mansoor Ahmed

 

Mr. Munir Ahmed

 

Mr. Atif Ahmed

1,700,000

 

1,650,000

 

1,650,000

 

 

Associated Companies

 

(1) Young’s Global (Private) Limited, Pakistan.

(2) Youngs (Pvt) Limited, Pakistan.

 

 

Products

 

Mayonnaise, Chicken Spread, Sandwich Spread, Garlic Spread, Chocolate Spreade, Natural Honey, Soya Sauce, Hot/Chilli Sauce, Vinegars, Pickles, Tomato Ketchup & Mustard Oil.

 

 

Number of Employees

 

165

           

 

Annual Production Volume

 

The capacity and production of the company’s plant is indeterminable as it is multi-product and involves varying processes of manufacture.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

280,000,000/- (Estimated)

 

 

Customers

 

Currently in over 80 geographical areas including Metropolitan cities, large cities and small towns spanning in all four provinces of Pakistan.

 

Exporting Countries

 

Mainly to GCC and USA. Recently started exporting to Australia and West African countries.

 

 

Bankers and their addresses

 

·         MCB Bank Limited, Bahadurabad Branch, Karachi, Pakistan.

·         Bank Al Falah, Shahrah -e- Faisal Branch, Karachi, Pakistan.

·         Habib Bank AG Zurich, Islamic Banking Branch, Al Falah Court, I.I. Chundrigar Road, Karachi, Pakistan.

·         Meezan Bank Limited, 3rd Floor, PNSC Building, M.T. Khan Road, Karachi, Pakistan.

 

 

Financial Position

 

Sound

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupees

US Dollar

1

           Rs. 88.55

UK Pound

1

           Rs. 140.50

Euro

1

           Rs. 122.50

 

 

Maximum Credit Limit   

 

US $ 50,000

 

 

Comments

 

Subject Company was established in 2005 and is engaged in manufacture & marketing of Food Products. Directors of the Company are reported as experienced & resourceful businessmen. 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.47.47

UK Pound

1

Rs.74.96

Euro

1

Rs.65.79

 

 

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.