MIRA INFORM REPORT

Report Date :

17.02.2012

IDENTIFICATION DETAILS

Name :	S.G. POLYPROPYLENE (PVT.) LIMITED

Registered Office :	36/3 Airport Road, Multan Cantt

Country :	Pakistan

Year of Establishment :	1998

Com. Reg. No.:	0039287

Legal Form :	Private Limited Company

Line of Business :	Manufacture & marketing of Polypropylene & Polythene Bags

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 :	Satisfactory
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

S.G. POLYPROPYLENE (PVT.) LIMITED

Full Address

Registered Address

36/3 Airport Road, Multan Cantt, Pakistan

Tel #	92 (61) 4546661, 4546662
Fax #	92 (61) 4548583
Email	sgpolysacks@msn.com

Short Description Of Business

Nature of Business	Manufacture & marketing of Polypropylene & Polythene Bags
Year Established	1998
Registration #	0039287

Factory Location

Address	5 K.M., Jhang Road, Muzafaffargarh, Pakistan
Tel No.	92 (661) 2423749, 2423603, 2423759
Fax No.	92 (661) 2423703

Auditors

Badar & Co.

(Chartered Accountants)

240-B, Near Goal Bagh, Gulgasht Colony, Multan, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1998

Authorized Capital	Rs. 81,000,000/- divided into 8,10,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 804,094/- divided into 80,409,400 shares of Rs. 100/- each

Details of Directors

Names

Address

Occupation

Designation

Mr. Hafeez Ahmad

Mrs. Shahida Hafeez

Mr. Saad Hafeez

Mr. Ghazna Hafeez

36/3, Airport road, Multan Cantt

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Hafeez Ahmad

Mrs. Shahida Hafeez

Mr. Saad Hafeez

Mr. Ghazna Hafeez

638,336

140,758

20,000

5,000

Associates

A. Subsidiary

None

B. Associated Companies

(1) Shahi Enterprises, Pakistan.

Business Activities

Subject Company is engaged in manufacture & marketing of Polypropylene & Polythene Bags.

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

It sells against cash / credit basis to its local customers.

It’s mainly import from China, India, European Countries, Taiwan, Korea & Japan.

Its’ major customers are Manufacturers, Multinational Companies etc.

Subject operates from caption leased office premises of area measuring 500 Sq yards situated at commercial area of Multan.

Subject employs about 130 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2010	180,000,000/- (Estimated)

Trade Suppliers (Foreign)

Subject mainly import from Companies belongs to China, India, European Countries, Taiwan, Korea & Japan

Bankers

(1) Habib Bank Limited, Pakistan.

(2) Citibank N.A., Pakistan.

(3) Faysal Bank Limited, Pakistan.

(4) Allied Bank Limited, Pakistan.

(5) The Bank of Khyber, Pakistan.

Memberships

· Multan Chamber of Commerce & Industry.(MCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1
UK Pound	1
Euro	1

Comments

Subject Company was established in 1998 and is engaged in manufacture & marketing of Polypropylene & Polythene Bags. 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.49.25
UK Pound	1	Rs.77.45
Euro	1	Rs.64.89

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.