MIRA INFORM REPORT

Report Date :

24.04.2012

IDENTIFICATION DETAILS

Name :	SONIA COTTON GINNING & PRESSING FACTORY

Registered Office :	Office No. 403, 4^th Floor, Industrial Town Plaza, Shahrah-e-Liaquat Road, Karachi

Country :	Pakistan

Date of Incorporation :	1997

Legal Form :	Partnership business

Line of Business :	Engaged in Import, Export of Cotton Ginning, Commodities, Food Products

No. of Employees :	50

RATING & COMMENTS

MIRA’s Rating :

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 30, 2011

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Business Name

SONIA COTTON GINNING & PRESSING FACTORY

company Address

Registered Address

Office No. 403, 4^th Floor, Industrial Town Plaza, Shahrah-e-Liaquat Road, Karachi, Pakistan

Tel #	92 (21) 32465322, 32465323
Fax #	92 (21) 32465323

Short Description Of Business

a.	Nature of Business	Engaged in Import, Export of Cotton Ginning, Commodities, Food Products
b.	Year Established	1997
c.	National Tax No.	0816845 - 8

Factory Location

Sanghar Road, Shahdadpur,

Sanghar, Sindh, Pakistan

Legal Status

Subject Company was established as a Partnership business in 1997

Details of Management

Names

Nationality

Address

Occupation

Designation

Mr. Bhawan Das

Mr. Haraish Kumar

Pakistani

Office No. 403, 4^th Floor, Industrial Town Plaza, Shahrah-e-Liaquat Road, Karachi

Business

Managing Partner

Partner

Associated Companies

None

Business Activities

Subject Company is engaged in engaged in import, export of Cotton Ginning, Commodities & Food Products.

Payment would be accepted / made through L/C, D/A basis.

Its mainly export to Gulf Countries.

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

Its’ major customers are Trading Companies, Food Companies, Cotton Industry.

Subject operates from caption leased office premises of area measuring 350 Sq.ft. which is situated at main commercial area of Karachi.

Subject employs about 50 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2010	60,000,000/- (Estimated)

Trade Suppliers (Foreign)

Subject mainly import from Companies belongs to China, India, Canada, Australia & Singapore

Bankers

(1) MCB Bank Limited, Pakistan.

(2) United Bank Limited, Pakistan.

(3) Habib Bank Limited, Pakistan.

(4) Allied Bank Limited, Pakistan.

Memberships

Pakistan Cotton Ginners' Association

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 91.00
UK Pound	1	Rs. 145.50
Euro	1	Rs. 119.00

Comments

Subject Company was established in 1997 and is engaged in import, export of Cotton Ginning, Commodities and Food Products. 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.52.23
UK Pound	1	Rs.84.16
Euro	1	Rs.68.84

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.