MIRA INFORM REPORT

Report Date :

17.07.2012

IDENTIFICATION DETAILS

Name :	HOSTACHEM INTERNATIONAL

Registered Office :	Plot No. 521 & 522, Sector 7-A, Korangi Industrial Area, Karachi

Country :	Pakistan

Date of Incorporation :	2002

Legal Form :	Proprietorship

Line of Business :	Engaged in Import, Manufacture & Marketing of Leather Specialty Enzymes

No. of Employees :	80

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 :

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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Business Name

HOSTACHEM INTERNATIONAL

Full Address

Registered Address

Plot No. 521 & 522, Sector 7-A, Korangi Industrial Area, Karachi, Pakistan

Tel #	92 (21) 35061452, 35054792, 35074767 +923333456778
Fax #	92 (21) 35054792
Email	hostachem@gmail.com

Short Description Of Business

a.	Nature of Business	Import, Manufacture & Marketing of Leather Specialty Enzymes
b.	Year Established	2002
c.	National Tax #	0621683 - 8

Branches

Opp. PSO petrol pump, Defence Road,
Sialkot, Pakistan

Legal Status

Subject Company was established as a Proprietorship business in 2002

Details of Managements

Names

Nationality

Address

Occupation

Designation

Mr. Khalid Mahmood Khan

Mr. Mutahir Bikia

Pakistani

Plot No. 521 & 522, Sector 7-A, Korangi Industrial Area, Karachi

Business

Proprietor

Manager (Import / Sales)

Associated Companies

(1) Glisten Pharma, Pakistan.

Business Activities

Subject Company is engaged in Import, Manufacture & Marketing of Leather Specialty Enzymes.

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

Its main customers are Leather Manufacturers, Textile Companies, Tanneries etc

Subject operates from caption leased work premises measuring 3,000 Sq.ft. which is situated at industrial area of Karachi.

Subject employs about 80 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2010	100,000,000/- (Estimated)

Trade Suppliers (Foreign)

Subject mainly import from Companies belongs to Europe, U.K., China, Japan, Korea & Taiwan

Bankers

Askari Bank Ltd, Pakistan.

Habib Bank Limited, Pakistan.

Faysal Bank Limited, Pakistan.

Citibank N.A., Pakistan.

Soneri Bank Limited, Pakistan.

Memberships

Pakistan Tanners Association.(PTA)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 94.80
UK Pound	1	Rs. 146.70
Euro	1	Rs. 116.10

Comments

Subject Company was established in 2002 and is engaged in import, manufacture & marketing of Leather Specialty Enzymes. 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.54.92
UK Pound	1	Rs.85.47
Euro	1	Rs.67.15

INFORMATION DETAILS

Report Prepared by :

PDT

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.