MIRA INFORM REPORT

 

 

Report Date :

15.05.2012

 

IDENTIFICATION DETAILS

 

Name :

MASOOD TEXTILE MILLS LIMITED

 

 

Registered Office :

Universal House, West Canal Road, Farooqabad, Faisalabad

 

 

Country :

Pakistan

 

 

Financials (as on) :

30.06.2011

 

 

Year of Establishment :

1984

 

 

Com. Reg. No.:

0012223

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacture & sale of cotton / synthetic fiber yarn, knitted / dyed fabrics & garments

 

 

No. of Employees :

500

 

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 :

Good

 

 

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

 

MASOOD TEXTILE MILLS LIMITED

 

 

Full Address       

 

Registered Address

Universal House, West Canal Road, Farooqabad, Faisalabad, Pakistan

                       

Tel #

92 (41) 8734910, 8734911, 8734912

Fax #

92 (41) 8731180

 

 

Short Description Of Business

 

a.

Nature of Business        

Manufacture & sale of cotton / synthetic fiber yarn, knitted / dyed fabrics & garments

b.

Year Established

1984

c.

Registration #

0012223

 

 

Factories Location

 

·               32 K.M., Sheikhupura Road, Faisalabad, Pakistan.

             Sargodha Road, Faisalabad, Pakistan.

 

 

Auditors

           

Riaz Ahmad & Company

(Chartered Accountants)

 

 

Legal Status       

           

Subject Company was established as a Public Limited Company in 1984

 

 

 

Details of Management

 

Names

Designation

Mr. Shahid Nazir Ahmad

 

Mr. Naseer Ahmad Shah

 

Mr. Muhammad Arshad

 

Mr. Matloob Hussain

 

Mr. Shahid Iqbal

 

Mr. Fazal Ahmad

 

Mr. Muhammad Yousuf Memon

Chairman / Chief Executive

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

 

Shareholders

 

Categories of Shareholders

Shareholding (%)

Directors, Chief Executive Officer etc

 

Associated Companies, Undertakings and related parties

 

NIT & ICP

 

Banks, Development Financial Institutions, Non Banking Financial Institutions

 

Insurance Companies

 

Modarabas & Mutual Funds

 

General Public

 

Others

 

Shareholders holding 10%

2.54

 

 

---

 

3.38

 

 

 

8.88

 

0.67

 

0.79

 

10.59

 

32.02

 

41.13

 

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                                                            None                                             

           

 

B.         Associated Companies

 

(1)     Masood Impex (Pvt) Limited, Pakistan.

 

 

Business Activities

 

Subject Company is engaged in manufacture & sale of cotton / synthetic fiber yarn, knitted / dyed fabrics & garments.

 

It purchases raw material through D/A, D/P basis.

 

It’s mainly import from Korea, European Countries, Taiwan, China, Singapore, India, Japan, Thailand & U.S.A.

 

Its’ major customers are Distribution Companies, Chain Stores, Buying Agencies etc.

 

Subject operates from caption leased office premises which is situated at main commercial area of Faisalabad.

 

Subject employs about 500 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2011

18,524,930,000/-

           

 

Trade Suppliers

(Foreign)

 

Subject mainly import from Companies belongs to Korea, European Countries, Taiwan, China, Singapore, India, Japan, Thailand & U.S.A.

 

Bankers

 

Bank Al-Habib Limited, Pakistan.

Habib Bank Limited, Pakistan.

MCB Bank Limited, Pakistan.

Faysal Bank Limited, Pakistan.

Citibank N.A., Pakistan.

KASB Bank Limited, Pakistan.

United Bank Limited, Pakistan.

Bank Alfalah Limited, Pakistan.

 

 

About Masood Textile Mills Limited

         

Masood Collection has a wide selection of quality garments including T-shirt, Polo shirt, Jogging suit, Henley shirt, Raglan shirt, Tank top , Bikini, Shorts, Pants and Sleepwear. Competent professional staff, a team of talented merchandisers, excellent supplies & support services, and state-of-the-art technology is the driving force behind Masood phenomenal growth in the past years. Masood Textile Mills has expanded its operations to include the Internet, and has taken advantage of the variety of international trade facilitated by the Web. Now Masood uses state-of-the-art client/server technology for its market information processes to coordinate its network of global buyers and agents around the world.

 

 

Memberships

 

Federation  Pakistan Chamber of Commerce & Industry

Faisalabad Chamber of Commerce & Industry.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

          Rs. 91.20

UK Pound

1

          Rs. 146.80

Euro

1

          Rs. 118.10

 

 

Comments

 

Subject Company was established in 1984 and is engaged in Manufacture & sale of cotton / synthetic fiber yarn, knitted / dyed fabrics & garments. Overall reputation is good. 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.53.71

UK Pound

1

Rs.86.34

Euro

1

Rs.69.23

 

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.