MIRA INFORM REPORT

 

 

Report Date :           

17.01.2012

 

IDENTIFICATION DETAILS

 

Name :

H.K. TRADERS

 

 

Registered Office :

310-B, Shalimar Centre, New Challi, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

1987

 

 

Legal Form :

Proprietorship Concern

 

 

Line of Business :

Import / Export & Trading of all types of Commodities

 

 

No. of Employees :

4

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Pakistan

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Business Name

 

H.K. TRADERS

 

 

Full Address       

 

Registered Address

310-B, Shalimar Centre, New Challi, Karachi, Pakistan

                       

Tel #

92 (21) 32430153, 32430154

Fax #

92 (21) 32431366

 

                                         

Short Description Of Business

 

a.

Nature of Business        

Import / Export & Trading of all types of Commodities

b.

Year Established

1987

c.

National Tax #

0670425

 

 

Branches

 

None

 

 

Legal Status

 

Subject Concern  was established as a Proprietorship business in 1987

 

 

Details of Proprietor

 

Names

Nationality

Address

Occupation

Designation

Mr. Muhammed Iqbal

Pakistani

 

310-B, Shalimar Centre, New Challi, Karachi, Pakistan

Business

 

 

Proprietor

                

 

 

Business Activities

 

Subject Concern  is engaged in the business as import / export & trading of all types of Commodities.

 

It purchases against D/A, D/P basis.

 

It sells against Cash / Credit terms to its local customers.

 

It’s mainly import from China, India, New Zealand, Australia, Canada and Burma.

 

Its major customers are Traders, Retailers etc.

 

Subject operates from caption leased office premises of area measuring 600 Sq.ft. which is situated in commercial area.

 

Subject employs about 4 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

36,000,000/- (Estimated)

 

 

Trade Suppliers

(Foreign)

 

Various International belongs to China, India, Australia & Canada

 

 

Bankers

 

·         MCB Bank Limited, Pakistan.

·         Meezan Bank Limited, Pakistan.

·         Bank Alhabib Limited, Pakistan.

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

            Rs. 90.50

UK Pound

1

            Rs. 138.00

Euro

1

            Rs. 114.50

 

           

Comments

 

Subject Concern  was established in 1987 and is engaged in import / export & trading of all types of Commodities. 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.51.65

UK Pound

1

Rs.79.09

Euro

1

Rs.65.32

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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