MIRA INFORM REPORT

 

 

Report Date :

02.05.2012

 

IDENTIFICATION DETAILS

 

Name :

RAAZIQ INTERNATIONAL (PVT) LIMITED

 

 

Registered Office :

Raaziq Logistic Centre, 15 K.M., Multan Road, Near Dina Nath Stop, Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

1975

 

 

Com. Reg. No.:

0004653

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Subject is engaged in Cargo / Freight Forwarding Services including Air Freight, Ocean Freight, Logistics, Ground Services & Customs Brokerage, NVOCC, Insurance, Marine Services, Warehousing, Consolidation, General Trading

 

 

No. of Employees :

80

 

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 :

Usually Correct  

 

 

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

 

RAAZIQ INTERNATIONAL (PVT) LIMITED

 

 

Full Address       

 

Registered Address

Raaziq Logistic Centre, 15 K.M., Multan Road, Near Dina Nath Stop, Lahore, Pakistan

                       

Tel #

92 (42) 111-722-947, 37516307, 37516309

Fax #

92 (42) 37516310

 

 

Short Description Of Business

 

a.

Nature of Business        

Engaged in Cargo / Freight Forwarding Services including Air Freight, Ocean Freight, Logistics, Ground Services & Customs Brokerage, NVOCC, Insurance, Marine Services, Warehousing, Consolidation, General Trading

b.

Year Established

1975

c.

Registration #

0004653

 

 

Branches

 

·         1st Floor, Beaumont Plaza, Civil Line Quarters, Beaumont Road, Karachi, Pakistan.

G-734, Bazar Court, Serena Hotel, Club Road, Faisalabad, Pakistan.

2nd Floor, 27-D/1, Sir Syed Road, Gulberg-3, Lahore, Pakistan.

3-5, Mez. Floor, Kulsoom Plaza, Jinnah Avenue, Islamabad, Pakistan.

Sheikh Manzil, Abbot Road, Sialkot, Pakistan.

 

 

Auditors

           

Hassan Farooq & Co.

(Chartered Accountants)

7G, Gulberg II, Lahore, Pakistan

 

 

Legal Status       

           

Subject Company was established as a Private Limited Company in 1975

 

 

Authorized Capital

Rs. 1,075,000,000/- divided into 107,500,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 810,237,500/- divided into 81,023,750 shares of Rs. 10/- each

 

 

Details of Directors

 

Names

Designation

Mr. Muhammad Nadeem Khan

 

Mr. Muhammad Naeem Khan

 

Mrs. Yasmeen Rehana Nadeem

Chief Executive

 

Director

 

Director

 

 

Shareholders                

 

Names

No of Shares

Mr. Muhammad Nadeem Khan

 

Mr. Muhammad Naeem Khan

 

Mrs. Yasmeen Rehana Nadeem

 

Mrs. Yasmeen Khan

 

Mr. Mohammad Ammar Khan

2,473,574

 

1,426

 

38,548,750

 

25,000,000

 

15,000,000

           

 

Associated Companies

 

(1) Ammiza Transport (Pvt) Limited, Pakistan.

(2) Ammiza Logistics & Warehousing (Pvt) Ltd, Pakistan.

(3) TS & TS Pvt Ltd, Pakistan.

(4) RIL Logistics Pvt Ltd, Pakistan.

(5) Mediterranean Foods Company, Pakistan.

(6) Raaziq Marketing Management Services (Pvt) Ltd, Pakistan.

(7) Ammiza Aviation (Pvt) Ltd, Pakistan.

 

 

 

Business Activities

 

Engaged in Cargo / Freight Forwarding Services including Air Freight, Ocean Freight, Logistics, Ground Services & Customs Brokerage, NVOCC, Insurance, Marine Services, Warehousing, Consolidation, General Trading etc

 

Number of Employees

 

80

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2010

200,000,000/- (Estimated)

 

 

Agencies

(Foreign)

 

Subject mainly import from Companies belongs to European Countries, India & China

 

 

Clientele

(Pakistan Based)

 

Mainly Multinational Companies, Private Organizations, Manufacturing Concerns & Trading Establishments

 

 

Bankers

 

·         Bank Alfalah Limited, Pakistan.

Bank Al-Habib Limited, Pakistan.

Askari Bank Limited, Pakistan.

Citibank N.A., Pakistan.

Soneri Bank Limited, Pakistan.

Silk Bank Limited, Pakistan.

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 91.30

UK Pound

1

           Rs. 146.80

Euro

1

           Rs. 120.00

 

 

Comments

 

Subject Company was established in 1975 and is engaged in Cargo / Freight Forwarding Services. Group as a whole enjoys good reputation in Pakistan. 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

 

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.