MIRA INFORM REPORT

Report Date :

11.01.2013

IDENTIFICATION DETAILS

Name :	SHAHZOR FEEDS (PVT.) LIMITED

Registered Office :	64, Shadman II, Lahore

Country :	Pakistan

Year of Establishment :	1994

Com. Reg. No.:	0032315

Legal Form :	Private Limited Company

Line of Business :	Company is engaged in commercial breeder / broiler farming

No. of Employees :	160 Employees

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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

pakistan - ECONOMIC OVERVIEW

Decades of internal political disputes and low levels of foreign investment have led to slow growth and underdevelopment in Pakistan. Agriculture accounts for more than one-fifth of output and two-fifths of employment. Textiles account for most of Pakistan's export earnings, and Pakistan's failure to expand a viable export base for other manufactures has left the country vulnerable to shifts in world demand. Official unemployment is 6%, but this fails to capture the true picture, because much of the economy is informal and underemployment remains high. Over the past few years, low growth and high inflation, led by a spurt in food prices, have increased the amount of poverty - the UN Human Development Report estimated poverty in 2011 at almost 50% of the population. Inflation has worsened the situation, climbing from 7.7% in 2007 to more than 13% for 2011, before declining to 9.3% at year-end. As a result of political and economic instability, the Pakistani rupee has depreciated more than 40% since 2007. The government agreed to an International Monetary Fund Standby Arrangement in November 2008 in response to a balance of payments crisis. Although the economy has stabilized since the crisis, it has failed to recover. Foreign investment has not returned, due to investor concerns related to governance, energy, security, and a slow-down in the global economy. Remittances from overseas workers, averaging about $1 billion a month since March 2011, remain a bright spot for Pakistan. However, after a small current account surplus in fiscal year 2011 (July 2010/June 2011), Pakistan's current account turned to deficit in the second half of 2011, spurred by higher prices for imported oil and lower prices for exported cotton. Pakistan remains stuck in a low-income, low-growth trap, with growth averaging 2.9% per year from 2008 to 2011. Pakistan must address long standing issues related to government revenues and energy production in order to spur the amount of economic growth that will be necessary to employ its growing population. Other long term challenges include expanding investment in education and healthcare, and reducing dependence on foreign donors.

Source : CIA

COMPANY NAME

SHAHZOR FEEDS (PVT.) LIMITED

Full Address

Registered Address

64, Shadman II, Lahore, Pakistan

Tel #	92 (42) 35941101 - 10 (10 Lines), 111-111-234
Fax #	92 (42) 35857310, 35830758
Email	shahzor@sabirsgroup.com

Note:

The previous registered address was “10-Sher Shah Block, New Garden Town, Lahore, Pakistan”

Short Description Of Business

a.	Nature of Business	Company is engaged in commercial breeder / broiler farming
b.	Year Established	1994
c.	Registration #	0032315

Factory Location

Near Lahore Paint Cement Bajree Store,

Chowk B.C.G., Mumtazabad, Multan,

Pakistan

Auditors

Zahid Hameed & Co.

(Chartered Accountants)

Suite # 5, 2^nd Floor, Ahad Heights, Mini Market, Gulberg, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1994

Authorized Capital	Rs. 215,000,000/- divided into 2,150,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 211,240,000/- divided into 2,112,400 shares of Rs. 100/- each

Details of Chief Executive / Directors

Names

Nationality

Address

Designation

Mr. Faqir Muhammad Sabir

Mr. Kamran Sabir

Mr. Arslan Sabir

Mr. M. Zeeshan Sabir

Mrs. Naseem Sabir

Mr. Imran Sabir

Pakistani

64, Shadman II, Lahore

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Faqir Muhammad Sabir

Mr. Kamran Sabir

Mr. Arslan Sabir

Mr. M. Zeeshan Sabir

Mrs. Naseem Sabir

Mr. Imran Sabir

830,900

257,000

253,500

257,000

Associates

A. Subsidiary

None

B. Associated Companies

(1) Multan Feeds (Pvt) Limited, Pakistan.

(2) Sabirs' Hatchery, Pakistan.

(3) Sabirs' Poultry, Pakistan.

Product/Services

Company is engaged in commercial breeder / broiler farming

Number of Employees

160

Annual Sales Volume (In Pak Rupees)

Rs. 200,000,000/- (Estimated)

Trade Suppliers (Foreign)

(1) KRKA D.D. NOVO MESTO, SLOVENIA.

(2) EVONIK DEGUSSA, BELGIUM.

(3) PKS LIMITED, INDIA.

(4) NINGBO FREE TRADE ZONE SINOLITE INDUSTRIAL CO. LIMITED, CHINA.

Authorized Distributors

Mainly exist at major cities of Pakistan

Bankers

(1) Askari Bank Limited, Pakistan.

(2) Bank Alhabib Limited, Pakistan.

(3) Habib Bank Limited, Pakistan.

(4) Standard Chartered Bank, Pakistan.

Memberships

Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 98.20
UK Pound	1	Rs. 157.70
Euro	1	Rs. 127.23

Comments

The conduct of the company is correct and the mode of payment prompt no complaints have been heard regarding payments to local suppliers. Company can be considered for normal business dealings at usual trade terms and conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.63
UK Pound	1	Rs.87.50
Euro	1	Rs.71.32

INFORMATION DETAILS

Report Prepared by :

NLM

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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