MIRA INFORM REPORT

Report Date :

18.01.2012

IDENTIFICATION DETAILS

Name :	NAVTAKIA INTERNATIONAL

Registered Office :	Room # 320, Hussain Trade Centre, Altaf Hussain Road, New Challi, Karachi, Pakistan

Country :	Pakistan

Year of Establishment :	1992

Legal Form :	Proprietorship

Line of Business :	Import & Trading of Pulses, Oil Seeds, Rubber and Latex

No. of Employees :	12

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

NAVTAKIA INTERNATIONAL

Full Address

Registered Address

Room # 320, Hussain Trade Centre, Altaf Hussain Road, New Challi, Karachi, Pakistan

Tel #	92 (21) 32212556, 32212557
Fax #	92 (21) 32212558
Email	tasbi@cyber.net.pk

Short Description Of Business

a.	Nature of Business	Import & trading business
b.	Year Established	1992

Branches

None

Legal Status

Subject Company was established as a Proprietorship business in 1992

Details of Proprietor

Names	Nationality	Address	Occupation	Designation
Mr. Muhammad Saleem Tasbi	Pakistani	Room # 320, Hussain Trade Centre, Altaf Hussain Road, New Challi, Karachi, Pakistan	Trading Business	Proprietor

Associates

A. Subsidiary

None

B. Associated Companies

(1) Madina Oil & Food Industries, Pakistan.

Business Activities

(1) Subject Company is engaged in import & trading of Pulses, Oil Seeds, Rubber and Latex.

(2) It purchases against L/C.

(3) It sells against Cash or credit terms.

(4) Its’ major customers are Traders, Private Organizations etc.

(5) Subject operates from caption leased office premises of area measuring 1,175 sq.ft. which is situated in commercial area.

(6) Subject employs about 12 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2010	55,000,000/- (Estimated)

Importing Countries

Mainly from China, Singapore, Canada, Australia, Thailand, Srilanka & India.

Suppliers (Foreign)

(1) HENAN LONGDA FOODSTUFFS CO.LTD, CHINA.

(2) SINO MULTI BIZ PTE LIMITED, SINGAPORE.

(3) JK INTERNATIONAL PTY LIMITED, AUSTRALIA.

(4) THE LENTIL COMPANY, AUSTRALIA.

(5) CHALONG LATEX IND. CO LTD, THAILAND.

(6) M/S SEEDS & GRAINS INDIA PVT LTD, INDIA.

(7) JAISREE IMPEX PTE LIMITED, SINGAPORE.

(8) M/S SAKUMA EXPORTS, INDIA.

Customers

Mainly traders from Karachi & Lahore.

Bankers

· Askari Commercial Bank Limited, Pakistan.

· Bank Alfalah Limited, Pakistan.

· Faysal Bank Limited, Pakistan.

· Bank Al-Habib Limited, Pakistan.

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 Company was established in 1992 and is engaged in import & trading of Pulses, Oil Seeds, Rubber and Latex. 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.51.06
UK Pound	1	Rs.78.48
Euro	1	Rs.64.99

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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