MIRA INFORM REPORT

 

 

Report Date :           

28.09.2011

 

IDENTIFICATION DETAILS

 

Name :

MATCO RICE PROCESSING (PVT) LIMITED

 

 

Registered Office :

L-24-1, Block 21, Federal ‘B’ Industrial Area, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

1990

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Processing & Export of Rice

 

 

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 $ 200,000

 

 

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, 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

 

MATCO RICE PROCESSING (PVT) LIMITED

 

 

Full Address       

 

Registered Address & Mill

L-24-1, Block 21, Federal ‘B’ Industrial Area, Karachi, Pakistan

                       

Tel #

92 (21) 36323137, 36312896, 36315584, +923018250969

Fax #

92 (21) 36338819

Email

matco@cyber.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business        

Processing & Export of Rice

b.

Year Established

1990

c.

National Tax #

0021510

 

 

Branches

 

In Lahore at present

 

 

Auditors

           

Anjum Asim Shahid Rahman

(Chartered Accountants)

1st & 3rd Floor, Modern Motors House, Beaumont Road, Karachi, Pakistan

 

 

Legal Status            

 

Subject Company was established as a Private Limited Company in 1990

 

 

Authorized Capital

Rs. 700,000,000/- divided into 70,000,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 466,288,500/- divided into 46,628,850 shares of Rs. 10/- each

 

Details of Management

 

Names

Designation

Mr. Jawed Ali Ghouri

 

Mr. Khalid Sarfaraz Ghouri

 

Mr. Tariq Ghouri

Chief Executive

 

Director

 

Director

 

 

shareholders                

 

Names of Shareholders

No of Shares

Mr. Jawed Ali Ghouri

 

Mr. Khalid Sarfaraz Ghouri

 

Mr. Tariq Ghouri

 

Mrs. Naheed Jawed

 

Mrs. Nazhat Khalid

 

Mrs. Sadaf Tariq

 

Mr. Faizan Ali Ghouri

18,216,540

 

13,703,670

 

13,718,640

 

285,000

 

285,000

 

270,000

 

150,000

 

 

Associated Companies

 

(1) Matco Marketing Company, Pakistan.

 

 

Business Activities

 

Subject Company is engaged in Processing & Export of Rice.

 

In case of export, payment would be accepted through L/C, T.T. basis.

 

Local sales are mostly on cash basis.

 

Its mainly export to Middle East & European Countries.

 

Its’ major customers are Traders, Retailers, Buying Agencies etc.

 

Subject operates from caption leased factory premises acquired more than 250,000 Sq.ft which is situated in industrial area.

 

Subject employs about 295 persons in its set up.

 

 

Actual Production Capacity

 

Basis - 40.m.ton/hour rice processing capacity    

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2010

1,000,000,000/- (Estimated)

 

 

Customers

(Foreign)

 

(1) LOUIS DREYFUS OF GENEVA.

(2) ADM-RICE, INC of U.S.A.

(3) ASCOT COMMODITIES OF GENEVA.

(4) PHOENIX COMMODITIES OF THAILAND.

(5) OVLAS TRADING SA OF LEBANON.

(6) HOLBUD LIMITED OF UK.

(7) VOEST ALPINE OF AUSTRIA.

 

 

Bankers

 

·         Faysal Bank Limited, Pakistan.

·         MCB Bank Limited, Pakistan.

·         Habib Metropolitan Bank Limited, Pakistan.

·         Habib Bank Limited, Pakistan.  

·         KASB Bank Limited, Pakistan.           

 

 

Financial Position

 

Sound  

 

 

 

Memberships

 

  • Rice Exporters Association of Pakistan.(REAP)
  • Federation Pakistan Chamber of Commerce & Industry.(FPCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 88.55

UK Pound

1

           Rs. 140.50

Euro

1

           Rs. 122.50

 

 

Maximum Credit Limit         

 

US $ 200,000

 

 

Comments

 

Subject Company was established in 1990 and is engaged in processing & export of Rice. Payment pattern is found to be satisfactory. Trade relations are reported as fair. Financial position of the Company is sound and has enough resources to meet the financial obligations. 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.49.18

UK Pound

1

Rs.76.65

Euro

1

Rs.66.63

 

 

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.