MIRA INFORM REPORT

 

 

Report Date :           

19.01.2012

 

IDENTIFICATION DETAILS

 

Name :

DOSSA COTTON & GENERAL TRADING (PVT) LIMITED

 

 

Registered Office :

4th Floor, Jubilee Insurance House, I.I. Chundrigar Road, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

1992

 

 

Com. Reg. No.:

0028277

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

trading & export of Raw Cotton & Cotton Waste

 

 

No. of Employees :

100

 

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

 

DOSSA COTTON & GENERAL TRADING (PVT) LIMITED

 

 

Full Address       

 

Registered Address

4th Floor, Jubilee Insurance House, I.I. Chundrigar Road, Karachi, Pakistan

                       

Tel #

92 (21) 32410097, 32419450, 32410361

Fax #

92 (21) 32417025

 

 

Short Description Of Business

 

a.

Nature of Business        

Engaged in trading & export of Raw Cotton & Cotton Waste

b.

Year Established

1992

c.

Registration #

0028277

 

 

Warehouse Location

           

Warehouse is located at industrial area of Karachi

 

 

Auditors

 

Hyder Bhimji & Co.

(Chartered Accoutants)

2nd Floor, Standard Insurance House, I.I. Chundrigar Road, Karachi, Pakistan

 

 

Legal Status

           

Subject Company was established as a Private Limited Company in 1992

 

 

Authorized Capital

Rs. 2,000,000/- divided into 200,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 750,000/- divided into 75,000 shares of Rs. 10/- each

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

 Mr. Sadek Nissar Dossa

 

 

 

 

Mr. Mohammad Nissar Dossa

Pakistani

 

 

 

 

Pakistani

 

 

 

4th Floor, Jubilee Insurance House, I.I. Chundrigar Road, Karachi

 

4th Floor, Jubilee Insurance House, I.I. Chundrigar Road, Karachi

Business

 

 

 

 

Business

 

 

Chief Executive

 

 

 

Director

 

 

 

Shareholders                

 

Names

No. of Shares

Mr. Sadek Nissar Dossa

 

Mr. Mohammad Nissar Dossa

 

Mrs. Maryam Nissar Dossa

37,500

 

27,500

 

10,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None                                                                      

           

B.         Associated Companies

 

(1) First Textiles Limited, Pakistan.

(2) Haji Dossa Limited, Pakistan.

(3) Hercules Boards (Pvt) Limited, Pakistan.

(4) Solpak (Pvt) Limited, Pakistan.

(5) Nisarouk Trading Co. (Pvt) Limited, Pakistan.

 

 

Business Activities

 

(1) Subject Company is engaged in trading & export of Raw Cotton & Cotton Waste.

 

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

 

(3) Its mainly export to Europe & Middle East Countries.

 

(4) Its major customers are Spinning Mills located at Pakistan, Bangladesh, Dubai & Bahrain.

 

(5) Subject operates from caption leased office premises of area measuring 1,000 Sq.ft which is situated at commercial area of Karachi.

 

(6)  Subject employs about 100 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

300,000,000/- (Estimated)

 

 

Trade Suppliers

(Foreign)

 

(1) ALBRETCH MULLER.

(2) CALCOT.

(3) CARGILL.

(4) COMEX.

(5) COPACO.

(6) STAPLCOTN.

(7) PLAINS.

(8) PLEXUS.

 

 

Bankers

 

(1)     Habib Metropolitan Bank Limited, Pakistan.

(2)     Soneri Bank Limited, Pakistan.

(3)     KASB Bank Limited, Pakistan.

(4)     MCB Bank Limited, Pakistan.

(5)     Habib Bank Limited, Pakistan.

(6)     Meezan Bank Limited, Pakistan.

 

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.

·         Karachi Cotton Association.

·         Management Association of 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

 

 

Group Profile

 

The Dossa Group was established in 1930 in Bombay, India as a trading firm dealing in raw wool. The family moved to Pakistan at the time of the India / Pakistan partition in 1947. Haji Dossa Limited was incorporated as a Public Limited Company in 1954 and listed on the Karachi Stock Exchange. Dossa Cotton & General Trading (Pvt) Limited was incorporated as a private limited company in the year 1992 to represent suppliers of Cotton from overseas as selling agents.

 

 

Comments

 

Dossa Group of Companies enjoys good reputation in the Pakistani Business Circle. All the directors are qualified, resourceful and experienced businessmen. Subject Company can be considered for normal business dealings at usual trade terms and conditions.

         

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.67

UK Pound

1

Rs.77.72

Euro

1

Rs.64.63

 

 

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.