MIRA INFORM REPORT

Report Date :

15.05.2012

IDENTIFICATION DETAILS

Name :	OMER GLASS INDUSTRIES LIMITED

Registered Office :	Plot No. 52 - 54, Industrial Estate, Jamrud Road, Peshawar

Country :	Pakistan

Year of Establishment :	1977

Com. Reg. No.:	0005938

Legal Form :	Non-Listed Public Limited Company

Line of Business :	Manufacture & Marketing of Glass Sheet, Glass Products, Glassware All Sorts

No. of Employees :	120

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:

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 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

OMER GLASS INDUSTRIES LIMITED

Full Address

Registered Address

Plot No. 52 - 54, Industrial Estate, Jamrud Road, Peshawar, Pakistan.

Tel #	92 (91) 5812156, 5815507
Fax #	92 (91) 5812157

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Glass Sheet, Glass Products, Glassware All Sorts
b.	Year Established	1977
c.	Registration #	0005938

Branches

In Karachi at present

Auditors

Alliot Shahid Hadi

(Chartered Accountants)

Legal Status

Subject Company was established as a Non-Listed Public Limited Company in 1977

Authorized Capital	Rs. 20,000,000/- divided into 2,000,000 shares of Rs. 10/- each
Issued & Paid up Capital	Rs. 9,750,000/- divided into 975,000 shares of Rs. 10/- each

Details of Chief Executive / Directors

Names

Nationality

Address

Occupation

Designation

Mr. Omer Baig

Mr. Tariq Baig

Mrs. Naeema Tariq

Miss Naveeda Baig

Mrs. Rafiqa Abrahim

Pakistani

Plot No. 52 - 54, Industrial Estate, Jamrud Road, Peshawar

Business

Chief Executive

Director

Shareholders

Name

No of Shares

Mr. Omer Baig

Mr. Tariq Baig

Mrs. Naeema Tariq

Miss Naveeda Baig

Mrs. Rafiqa Abrahim

Mrs. Sultan Raja

Mr. Habib-Ur-Rehman

Mrs. Nasreen Baig

Mrs. Naz Batti

Miss Saleem Ara

201,250

450,000

203,500

8,050

32,450

2,500

26,000

21,750

27,000

Associated Companies

Tariq Glass Industries Limited, Pakistan.

Business Activities

Manufacture & Marketing of Glass Sheet, Glass Products, Glassware All Sorts

Number of Employees

120

Trade Suppliers

(Foreign)

Subject mainly import from Companies belongs to China, Japan, Taiwan, Korea & Germany

Annual Sales Volume

Year	In Pak Rupees
2010	150,000,000/- (Estimated)

Customers

Mainly Buying Agencies, Distribution Companies, Wholesalers, Retailers etc

Bankers

· The Bank of Khyber, Pakistan.

Habib Bank Limited, Pakistan.

Soneri Bank Limited, Pakistan.

Faysal Bank Limited, Pakistan.

Memberships

· Khyber Pakhtoonkwa Chamber of Commerce & Industry.(KPCCI)

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 1977 and is engaged in manufacture & marketing of Glass Sheet, Glass Products, Glassware All Sorts. 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%)

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