MIRA INFORM REPORT

 

 

Report Date :           

02.04.2012

 

IDENTIFICATION DETAILS

 

Name :

BROTHERS ENTERPRISES (PVT) LIMITED

 

 

Registered Office :

106, Anum Estate, Shahrah-e-Faisal, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

1989

 

 

Com. Reg. No.:

0020763  

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Import, Export & Trading of Consumer Food Products, Chemicals & Basmati rice

 

 

No. of Employees :

12

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

BROTHERS ENTERPRISES (PVT) LIMITED

 

 

Full Address            

 

Registered Address

106, Anum Estate, Shahrah-e-Faisal, Karachi, Pakistan.

                       

Tel #

92 (21) 34380784, 34380785

Fax #

92 (21) 34382189

Email

bel@cyber.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business        

Import, Export & Trading of Consumer Food Products, Chemicals & Basmati rice

b.

Year Established

1989

c.

Registration #

0020763  

 

 

Branches

 

Address

209, Uni Tower, I.I. Chundrigar Road, Karachi, Pakistan.

Tel #

92 (21) 32413713, 32416127

Fax #

92 (21) 32413544

           

 

Auditors

           

Rahman Sarfaraz Rahim Iqbal Rafiq

(Chartered Accountants)

115, Sidco Avenue Centre, Din Muhammad Wafai Road, Karachi, Pakistan

 

 

Legal Status       

           

Subject Company was established as a Private Limited Company in 1989

 

 

 

Authorized Capital

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

Issued & Paid up Capital

Rs. 12,000,000/- divided into 120,000 shares of Rs. 100/- each

 

 

Details of Directors

 

Names

Nationality

Occupation

Designation

Mr. Muhammad Ahmad

 

Mrs. Naima Ahmad 

Pakistani

 

 

Pakistani

Business

 

 

Housewife

Chief Executive

 

 

Director

 

 

Shareholders

 

Name of Shareholders

No of Shares

Mr. Muhammad Ahmad

 

Mrs. Naima Ahmad

 

Mr. Hafiz M. Tariq

 

Mr. Faisal Ahmed

 

Mr. Khalid Rafi

25,200

 

8,400

 

28,800

 

28,800

 

28,800

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                                                            None                                             

           

           

B.         Associated Companies

 

(1) Tariq & Co., Pakistan.                                        

 

Business Activities

 

Import, Export & Trading of Consumer Food Products, Chemicals & Basmati rice

 

 

Number of Employees

 

12

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2010

42,000,000/- (Estimated)

 

 

Trade Suppliers

(Foreign)

 

Various International belongs to China, India, Vietnam, Thailand, Ukraine & Singapore            

 

 

Customers

 

Mainly Food Companies, Chemical Companies, Trading Companies etc

 

 

Exports

 

Export of Basmati Rice to Gulf Countries

 

 

Bankers

 

(1) Habib Bank Limited, Pakistan.

(2) Bank Alfalah Limited, Pakistan.

(3) MCB Bank Limited, Pakistan.

(4) Standard Chartered Bank, Pakistan.

 

 

 

Memberships

           

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

 

Foreign Exchange Rates

 

Currency         

 

Unit

Pakistani Rupees

US Dollar

1

           Rs. 90.50

UK Pound

1

           Rs. 144.00

Euro

1

           Rs. 120.30

 

 

Comments       

 

Subject Company was established in 1989 and is engaged in import, export & trading of Consumer Food Products, Chemicals & Basmati Rice. Market reputation is satisfactory. 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.51.16

UK Pound

1

Rs.81.72

Euro

1

Rs.68.34

 

 

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.