MIRA INFORM REPORT

Report Date :

27.07.2012

IDENTIFICATION DETAILS

Name :	SEA TRADE GROUP

Registered Office :	71, Al-Badar, Kokan Housing Society, Hyder Ali Road, Karachi

Country :	Pakistan

Year of Establishment :	1973

Legal Form :	Proprietorship

Line of Business :	Engaged in Shipping, Cargo Handling & Commodities trading in Pakistan

No. of Employees :	60

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 – 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

SEA TRADE GROUP

Full Address

Registered Address

71, Al-Badar, Kokan Housing Society, Hyder Ali Road, Karachi, Pakistan

Tel #	92 (21) 34920523, 34943092, 34931362, 34937370, 34933558, 4943812
Fax #	92 (21) 34921056

Short Description Of Business

a.	Nature of Business	Engaged in Shipping, Cargo Handling & Commodities trading in Pakistan
b.	Year Established	1973

Branches

None

Legal Status

Subject Company was established as a Proprietorship business in 1973

Details of Management

Names

Address

Occupation

Designation

Mr. Najib Balagamwala

Mr. Irshad Fakhri

Mr. Omer Najib Balagawala

71, Al-Badar, Kokan Housing Society, Hyder Ali Road, Karachi

Business

Chief Executive / Proprietor

Director (Trading)

Director (Finance)

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Company’s Background & Services

Company Background and Philosophy.Since 1973 when its first office opened in Karachi Pakistan, Seatrade Group has enjoyed 29 years of positive growth and substantial diversification. Seatrade is recognized throughout Pakistan and the world as a leading shipping agency in Pakistan. Throughout its growth, Seatrade Group has maintained high standards of quality and personalized service.Seatrade provides full service agency representation for its varied principals. This includes representation of container, breakbulk and tramp service with particular expertise in wheat, fertilizer and other bulk commodities. Seatrade Group is committed to providing superior service to its principals and maintains an active presence in the Indian Ocean..

Number of Employees

Annual Revenue / Income

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

Trade Suppliers (Foreign)

Subject mainly import from Companies belongs to China, India, U.A.E., Taiwan & European Countries

Customers

Mainly Private Companies, Import / Export Companies, Manufacturers etc

Bankers

(1) MCB Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) United Bank Limited, Pakistan.

(4) Allied Bank Limited, Pakistan.

(5) Faysal Bank Limited, Pakistan.

(6) Meezan Bank Limited, Pakistan.

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 Company was established in 1973 and is engaged in Shipping, Cargo Handling & Commodities trading in Pakistan. Overall 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 :

PRL

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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