MIRA INFORM REPORT

 

 

Report Date :

27.07.2012

 

IDENTIFICATION DETAILS

 

Name :

MEERA OF SIALKOT

 

 

Registered Office :

Hayat Pura, Zafarwal Road, Sialkot, Pakistan

 

 

Country :

Pakistan

 

 

Year of Establishment :

1996

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Proprietorship Concern

 

 

Line of Business :

manufacture & export of Sports Products including Boxing, Martial Art Uniforms, MMA Gears, Weight Lifting / Fitness Accessories & Sports Wears

 

 

No. of Employees :

65

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

MEERA OF SIALKOT

 

 

Full Address       

 

Registered Address

Hayat Pura, Zafarwal Road, Sialkot, Pakistan

                       

Tel #

 
92 (52) 3542676, +923216103968

Fax #

92 (52) 3543348

Email

meeraofsialkot@gmail.com

 

 

Short Description Of Business

 

a.

Nature of Business        

Engaged in manufacture & export of Sports Products including Boxing, Martial Art Uniforms, MMA Gears, Weight Lifting / Fitness Accessories & Sports Wears

b.

Year Established

1996

 

 

Branches

 

None

 

 

Legal Status

 

Subject Concern was established as a Proprietorship business in 1996

 

 

Details of Proprietor

 

Names

Nationality

Address

Occupation

Designation

Mr. Muhammad Usman Meera

Pakistani

 

 

Hayat Pura, Zafarwal Road, Sialkot

Business

 

 

Proprietor

 

 

 

 

Associated Companies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

 

None

 

 

Business Activities

 

Subject Concern is engaged in manufacture & export of Sports Wear Products.

 

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

 

Its exporting countries are European Countries.

 

It’s mainly import from China, Taiwan & Thailand.

 

Its’ major customers are Sport Associations, Distribution Companies.

 

Subject operates from caption leased office premises which is situated at industrial area of Sialkot.

 

Subject employs about 65 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2010

40,000,000/- (Estimated)

 

 

Trade Suppliers

(Foreign)

           

Subject mainly import from Companies belongs to China, Taiwan & Thailand

 

Bankers

 

(1) MCB Bank Limited, Pakistan.

(2) Bank Alfalah Limited, Pakistan.

(3) Soneri Bank Limited, Pakistan.

(4) United Bank Limited, Pakistan.

 

 

 

Memberships

 

·         Sialkot Chamber of Commerce & Industry.(SCCI)

 

 

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 1996 and is engaged in manufacture & export of Sports Wear Products. 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.55.95

UK Pound

1

Rs.86.56

Euro

1

Rs.67.95

 

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.