MIRA INFORM REPORT

Report Date :

02.02.2012

IDENTIFICATION DETAILS

Name :	HAKIMUDDIN HORMUSJI & SONS

Registered Office :	Ameejee Valeejee Building, Sharah-e-Liaqat, Karachi – 74200

Country :	Pakistan

Year of Establishment :	1948

Legal Form :	Partnership

Line of Business :	Engaged in import, export, indenting & trading of Raw Cotton, Textile Products, Textile Raw Materials

No. of Employees :	130

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 :	Good
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

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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

HAKIMUDDIN HORMUSJI & SONS

Full Address

Registered Address

Ameejee Valeejee Building, Sharah-e-Liaqat, Karachi – 74200, Pakistan

Tel #	92 (21) 32625156 (4 Lines)
Fax #	92 (21) 32627985
Email	hhs@cyber.net.pk

Short Description Of Business

a.	Nature of Business	Engaged in import, export, indenting & trading of Raw Cotton, Textile Products, Textile Raw Materials
b.	Year Established	1948
c.	National Tax #	0299164

Factory & Warehouse

Factory & Warehouse are located at S.I.T.E. area of Karachi

Legal Status

Subject Company was established as a Partnership business in 1948

Details of Managing Partner / Partners

Names

Nationality

Address

Occupation

Designation

Mr. Nadershaw D. Kabraji

Mr. Sahil Khatri

Pakistani

Ameejee Valeejee Building, Sharah-e-Liaqat, Karachi

Business

Managing Partner

Partner

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Products

(1) Subject Company is engaged in import, export, indenting & trading of Raw Cotton, Textile Products, Textile Raw Materials.

(2) It purchases raw material against L/C, D/A, D/P basis.

(3) Its mainly import from America, CIS, Brazil, Paragon, Argentina, Syria, Greece & African Countries.

(4) Its’ major customers are Buying Agencies, Textile Companies, Garments Manufacturers, Trading Corporations etc.

(5) Subject operates from caption leased office premises of area measuring 600 Sq.Ft which is situated at main commercial area of Karachi.

(6) Subject employs about 130 persons in its set up.

Actual Production Volume

Actual production volume is indeterminable as it mainly depends upon the demand / requirements from local / international customers.

Annual Sales Volume

Year	In Pak Rupees
2009	300,000,000/- (Estimated)

Trade Suppliers (Foreign)

Subject mainly import from Companies belongs to America, CIS, Brazil, Paragon, Argentina, Syria, Greece & African Countries

Bankers

(1) Habib Bank Limited, Pakistan.

(2) Habib Metropolitan Bank Limited, Pakistan.

(3) Faysal Bank Limited, Pakistan.

(4) MCB Bank Limited, Pakistan.

(5) Allied Bank Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

· Karachi Cotton Association.(KCA)

· Federation Pakistan Chamber of Commerce & Industry.(FPCCI)

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 established in 1948 and is engaged in import, export, indenting & trading business. Market reputation is good. 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.49.53
UK Pound	1	Rs.77.95
Euro	1	Rs.64.66

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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