MIRA INFORM REPORT

 

 

Report Date :

26.06.2012

 

IDENTIFICATION DETAILS

 

Name :

PAK GREASE MFG. CO. (PVT) LIMITED

 

 

Registered Office :

No. 6, Oil Installation Area, Keamari, Karachi

 

 

Country :

Pakistan

 

 

Financials (as on) :

30.06.2010

 

 

Date of Incorporation :

1965

 

 

Com. Reg. No.:

0002160

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

The Company’s principal activity is to manufacture and sale Petroleum Grease Products

 

 

No. of Employees :

115

 

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

 

PAK GREASE MFG. CO. (PVT) LIMITED

 

 

Full Address       

 

Registered Address

No. 6, Oil Installation Area, Keamari, Karachi, Pakistan

                       

Tel #

92 (21) 32851628, 32850523

Fax #

92 (21) 32850863

Email

pkgrease@cyber.net.pk

 

 

Short Description Of Business

 

Nature of Business        

The Company’s principal activity is to manufacture and sale Petroleum Grease Products

Year Established

1965

Registration #

0002160

 

 

Branches

           

Is located at Lahore

 

 

Auditors

 

A.F. Ferguson & Co.

(Chartered Accountants)

 

 

Legal Status       

           

Subject Company was established as a Private Limited Company in 1965

 

Authorized Capital

Rs. 50,000,000/- divided into 5,000,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 31,190,500/- divided into 3,119,050 shares of Rs. 10/- each

 

 

Details of Chief Executive / Directors

 

Names

Designation

Mr. Aftab Ahmed Shah

 

Mr. Mohammad Shahrukh Qaiser

 

Mr. Abdul Hai M. Bhaimia

 

Mr. Mohammad Ahmed Qaiser

 

Ms. Khurshid M. Bhaimia

 

Mr. Arif Rasool

 

Mr. Ijaz Ali Khan

 

Mr. Imran Ahmed Mirza

 

Mr. Irfan Khalil Qureshi

 

Mr. Yacoob Sattar

Chief Executive

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

 

Shareholders

           

Names of Shareholders

No. of Shares

Pakistan Refinery Limited

 

Pakistan State Oil Co. Limited

 

Ms. Heer Bhaimia

 

Mrs. Rehana Ghulam Rasool

 

Mr. Abdul Hai M. Bhaimia

 

Ms. Khurshid M. Bhaimia

 

Mr. Khalid Mahmood Bhaimia

 

Mr. Ebrahim Adnan Bhaimia

 

Ms. Ambreen Fatima Bhaimia

 

Mr. Arif Rasool

 

Mr. I.A.K Qaiser

 

Mr. Mohammad Shahrukh Qaiser

 

Mr. Mohammad Farrukh Qaiser

 

Ms. Shahana Arshad Mahmood

 

Mr. Mohammad Ahmed Qaiser

 

Mr. Mohammad Mustapha Qaiser

 

Mr. Mohammad Yusuf Farrukh Qaiser

 

Ms. Marium Farrukh Qaiser

 

Ms. Qanita Amna

850,401

 

686,192

 

165,121

 

350,752

 

2,657

 

511,595

 

70,330

 

34,294

 

34,294

 

600

 

3,084

 

235,762

 

13,761

 

81,659

 

16,181

 

15,410

 

15,924

 

15,749

 

15,284

 

 

Associated Companies

 

None

 

 

Business Activities

 

The Company’s principal activity is to manufacture and sale Petroleum Grease Products

 

 

Number of Employees

 

115

 

 

Trade Suppliers (Foreign)

           

Various international belongs to China, Korea, Taiwan, Japan, Germany & U.A.E.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2010

190,806,433/-

 

 

Annual Production Volume

           

Annual production volume is indeterminable as it mainly depends upon the demand / requirements from their local / international customers

 

 

Customers

 

Mainly Private Companies, Trading Companies etc

 

 

Bankers

 

(1) Bank Alfalah Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) United Bank Limited, Pakistan.

(4) Allied Bank Limited, Pakistan.

(5) MCB Bank Limited, Pakistan.

(6) Citibank N.A., Pakistan.

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

            Rs. 95.60

UK Pound

1

            Rs. 149.00

Euro

1

            Rs. 119.80

 

 

 

Comments

 

Subject Company was established in 1965. Company’s principal activity is to manufacture and sale Petroleum Grease Products. Overall reputation is satisfactory. Trade relations are reported as fair. Subject can be considered for normal business dealings at usual trade terms & conditions.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.53

UK Pound

1

Rs.88.09

Euro

1

Rs.70.83

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.