MIRA INFORM REPORT

Report Date :

28.07.2012

IDENTIFICATION DETAILS

Name :	J AND M CLOTHING CO.

Registered Office :	Plot No. 10-12, Sector B-IV, Karachi Export Processing Zone, Landhi, Karachi

Country :	Pakistan

Year of Establishment :	1989

Legal Form :	Partnership Concern

Line of Business :	Manufacture & Export of Readymade Garments

No. of Employees :	300

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 2,60,000
Status :	Good
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

J AND M CLOTHING CO.

Full Address

Registered Address

Plot No. 10-12, Sector B-IV, Karachi Export Processing Zone, Landhi, Karachi, Pakistan

Tel #	92 (21) 35081845 - 49 (5 Lines)
Fax #	92 (21) 35082837, 35082174

Short Description Of Business

a.	Nature of Business	Engaged in Manufacture & Export of Readymade Garments
b.	Year Established	1989
c.	National Tax #	2268291

Branches

In Karachi & Lahore

Legal Status

Subject Concern was established as a Partnership Business in 1989

Details of Managing Partner / Partners

Names

Nationality

Address

Occupation

Designation

Mr. Mohsin Ayub

Mrs. Zareen Mohsin

Pakistani

30/2, Khayaban-e-Shaheen, Phase V, D.H.A., Karachi

Business

Managing Partner

Partner

Associated Companies

(1) Joes Fashion Exports (Pvt) Limited, Pakistan.

(2) Al-Salam Garments, Pakistan.

(3) ZM Vertiko (Pvt) Limited, Pakistan.

(4) Z & M Styles, Pakistan.

Business Activities

Subject Concern is engaged in manufacture & export of Readymade Garments

Its mainly import Apparel Machineries, Garments Raw Materials from European Countries.

Payments would be accepted / made through L/C, D/A, D/P basis.

Its mainly import from China, Korea, Taiwan, Japan, India & Europe.

Its main customers are Buying Agencies, Distribution Companies, International Chain Stores etc.

Subject operates from caption leased factory premises which is situated at industrial area of Karachi.

Subject employs about 300 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2010	500,000,000/- (Estimated)

Production Capacity

Approximately 322,500 pieces per month

Bankers

· MCB Bank Limited, Pakistan.

Habib Metropolitan Bank Limited, Pakistan.

Bank Alfalah Limited, Pakistan.

Citibank N.A., Pakistan.

Bank Alhabib Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 94.65
UK Pound	1	Rs. 146.30
Euro	1	Rs. 114.30

Comments

Subject Concern was established in 1989 and is engaged in manufacture & export of Readymade Garments. Market reputation is good. 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.55.41
UK Pound	1	Rs.86.93
Euro	1	Rs.68.10

INFORMATION DETAILS

Report Prepared by :

MNL

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.