MIRA INFORM REPORT

Report Date :

01.02.2012

IDENTIFICATION DETAILS

Name :	DYSTAR PAKISTAN (PVT) LIMITED

Registered Office :	Plot No. 217, Delhi Mercantile Cooperative Housing Society, Sirajdullah Road, Karachi

Country :	Pakistan

Financials (as on) :	31.12.2010

Year of Establishment :	1999

Com. Reg. No.:	0040530

Legal Form :	Private Limited Company

Line of Business :	Import, Indenting & Trading of Dyeing Chemicals

No. of Employees :	60

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

(30.06.2011)

Current Rating

(30.09.2011)

Pakistan

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

Business Name

DYSTAR PAKISTAN (PVT) LIMITED

Full Address

Registered Address

Plot No. 217, Delhi Mercantile Cooperative Housing Society, Sirajdullah Road, Karachi, Pakistan

Tel #	92 (21) 34556995, 34556996, 34556997
Fax #	92 (21) 34555757

Short Description Of Business

a.	Nature of Business	Import, Indenting & Trading of Dyeing Chemicals
b.	Year Established	1999
c.	Registration #	0040530

Branches

In Lahore at present

Auditors

KPMG Taseer Hadi & Co.

(Chartered Accountants)

First Floor, Sheikh Sultan Trust Building No. 02, Beaumont Road, Karachi, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1999

Authorised Capital	Rs. 50,000,000/- divided into 5,000,000 shares of Rs. 10/- each
Issued & Paid up Capital	Rs. 30,000,000/- divided into 3,000,000 shares of Rs. 10/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Bernardus Johannas Adrianus

Mr. Stephen John Barron

Mr. Faisal Mumtaz

Pakistani

Plot No. 217, Delhi Mercantile Cooperative Housing Society, Sirajdullah Road, Karachi

Business

Chief Executive

Director

Shareholders

Names

No. Of Shares

Mr. Bernardus Johannes Adrianus

Dystar Colours Distribution, GMBH

2,999,999

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Products

Import

Indenting & Trading of Dyeing Chemicals

Number of Employees

Annual Sales Volume

Years

In Pak Rupees

2009

2010

108,152,949/-

166,865,024/-

Importing Countries

Import of Pharmaceutical Raw Materials from European Countries, India & China

Customers

Mainly Textile Companies, Garment Manufacturers etc

Bankers

(1) Habib Bank Limited, Pakistan.

(2) Soneri Bank Limited, Pakistan.

(3) Citibank N.A., Pakistan.

(4) United Bank Limited, Pakistan.

(5) Bank Alfalah Limited, Pakistan.

Memberships

· Pak German Business Forum.

· Karachi Chamber of Commerce & Industry.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 90.30
UK Pound	1	Rs. 141.20
Euro	1	Rs. 118.20

Comments

Subject Company was incorporated in 1999 and is engaged in import, indenting & trading business. Overall 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.49.68
UK Pound	1	Rs.78.17
Euro	1	Rs.65.52

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.