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Report Date : |
02.05.2012 |
IDENTIFICATION DETAILS
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Name : |
NAVEED NAWAZ TEXTILES (PVT.) LIMITED |
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Registered Office : |
P-58, Gole Cloth Katchery Bazar, |
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Country : |
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Year of Establishment : |
1996 |
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Com. Reg. No.: |
0037094 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture &
Export of Grey Fabric, Dyed Fabric, Yarn Dyed Fabric, Knit, Fashion Garments,
Home Textile Products |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
NAVEED
NAWAZ TEXTILES (PVT.) LIMITED
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Registered Address |
|
P-58, Gole Cloth Katchery Bazar, |
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Tel # |
92 (41) 2641686,
2642886 |
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Fax # |
92 (41) 2642886 |
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Email |
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a. |
Nature of Business |
Engaged in Manufacture & Export of Grey Fabric, Dyed
Fabric, Yarn Dyed Fabric, Knit, Fashion Garments, Home Textile Products |
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b. |
Year Established |
1996 |
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c. |
Registration # |
0037094 |
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Address |
|
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Tel No. |
92 (41) 4360020, 4360010 |
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Fax No. |
92 (41) 4361502 |
Yaqoob & Co.
(Chartered
Accountants)
Asad Plaza, Opposite Circular Road, Faisalabad, Pakistan
Subject Company was established as a Private Limited Company in 1996
|
Authorized Capital |
Rs. 10,000,000/-
divided into 100,000 shares of Rs. 100/- each |
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Issued & Paid up Capital |
Rs. 100,000/- divided
into 1,000 shares of Rs. 100/-
each |
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Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Naveed Mr. Muhammad Nadeem Mr. Muhammad Amir Nawaz Mr. Muhammad Naeem Waiz |
Pakistani Pakistani Pakistani Pakistani |
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Business Business Business Business |
Chief Executive Director Director Director |
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Names |
No. of Shares |
|
Mr. Muhammad Naveed Mr. Muhammad Nadeem Mr. Muhammad Amir Nawaz Mr. Muhammad Naeem Waiz |
250 250 250 250 |
A. Subsidiary
None
B.
Associated Companies
(1)
Faisal Fabrics
Limited,
Subject Company is engaged in manufacture & export of Grey Fabric, Dyed Fabric, Yarn Dyed Fabric, Knit, Fashion Garments, Home Textile Products.
Its mainly import Textile Raw Materials, Textile Machineries through L/C, D/A, D/P basis.
It sells its product through Cash, L/C, D/A basis (In case of Export).
Its main customers are Individuals, Reputable Companies, Worldwide.
Subject operates from caption leased office premises measuring 1,000 Sq.ft. which is situated at main commercial market of Faisalabad.
Subject employs about 120 persons in its set up.
|
Year |
In Pak Rupees |
|
2010 |
150,000,000/- (Estimated) |
Actual production volume is indeterminable as it mainly depends upon the requirement from their local as well as international customers
(1) KASB Bank Limited,
(2) Faysal Bank Limited,
Pakistan.
(3) Standard Chartered
Bank, Pakistan.
(4) Allied Bank Limited,
Pakistan.
(5) Bank Alfalah Limited, Pakistan.
·
Faisalabad Chamber of Commerce & Industry.(FCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 91.30 |
|
|
1 |
Rs. 146.80 |
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Euro |
1 |
Rs. 120.00 |
Subject Company was established in 1996 and is engaged in manufacture & export business. Overall reputation is normal. 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.52.68 |
|
UK Pound |
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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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 |
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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 |
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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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.