MIRA INFORM REPORT

Report Date :

07.02.2012

IDENTIFICATION DETAILS

Name :	FAISAL FOODS

Registered Office :	Office # 4, 11th Floor, Sharjah Trade Centre, Altaf Hussain Road, New Challi, Karachi

Country :	Pakistan

Year of Establishment :	2005

Legal Form :	Proprietorship Concern

Line of Business :	Import & Trading of Foodstuff items including Grain, Pulses, Beans, Seeds, Groundnuts Kernel, Cyanocobalamin, Spices etc

No. of Employees :	05

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Concern
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^th, 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

FAISAL FOODS

Full Address

Registered Address

Office # 4, 11th Floor, Sharjah Trade Centre, Altaf Hussain Road, New Challi, Karachi, Pakistan

Tel #	92 (21) 32624731, 32638991
Fax #	92 (21) 32634801

Short Description Of Business

a.	Nature of Business	Import & Trading of Foodstuff items including Grain, Pulses, Beans, Seeds, Groundnuts Kernel, Cyanocobalamin, Spices etc
b.	Year Established	2005

Branches

7-17, Rafiq Mansion, Near Al-Momin Plaza,

Campbell Road (Off: Burns Road),

Karachi, Pakistan

Legal Status

Subject Concern was established as a Proprietorship business in 2005

Details of Management

Names

Address

Occupation

Designation

Mr. Saleem Abdul Sattar

Office # 4, 11th Floor, Sharjah Trade Centre, Altaf Hussain Road, New Challi, Karachi

Business

Proprietor

Associates

A. Subsidiary

None

B. Associated Companies

(1) R.S. Embroidery Works, Pakistan.

(2) Taufiq International, Pakistan.

(3) Zeeshan Enterprises, Pakistan.

Product/Services

Import & Trading of Foodstuff items including Grain, Pulses, Beans, Seeds, Groundnuts Kernel, Cyanocobalamin, Spices etc

Number of Employees

Annual Sales Volume

Year	In Pak Rupees
2010	16,000,000/- (Estimated)

Trade Suppliers

(Foreign)

· VARDHMAN EXPORTS, INDIA.

· PRAKASH OVERSEAS, INDIA.

Customers

Mainly Traders, Retailers, Food Companies etc

Bankers

· United Bank Limited, Pakistan.

· Habib Bank Limited, Pakistan.

· MCB Bank Limited, Pakistan.

· Bank Alfalah Limited, Pakistan.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 90.50
UK Pound	1	Rs. 138.00
Euro	1	Rs. 141.80

Comments

Subject Concern was established in 1994 and is engaged in import & trading of Foodstuff items including Grain, Pulses, Beans, Seeds, Groundnuts Kernel, Cyanocobalamin, Spices etc. 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.48.68
UK Pound	1	Rs.76.75
Euro	1	Rs.63.57

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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