MIRA INFORM REPORT

 

 

Report No. :

355986

Report Date :

24.12.2015

 

IDENTIFICATION DETAILS

 

Name :

RICE & SPICE TRADING CO.

 

 

Registered Office :

MR 6/4, 1st Floor Raees Tar Mohammad Street, Jodia Bazar, Karachi

 

 

Country :

Pakistan

 

 

Date of Incorporation :

2003

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Import & Trading of Dry Fruits, Spices & allied Products

 

 

Employees:

About 4 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

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, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Pakistan

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

COMPANY SUMMARY

 

RICE & SPICE TRADING CO.

 

 

Full Address

 

Registered Address

MR 6/4, 1st Floor Raees Tar Mohammad Street, Jodia Bazar, Karachi, Pakistan.

 

Tel #

92 (21) 32442323, 32417260

Fax #

92 (21) 32417260

 

 

Short Description Of Business

 

a.

Nature of Business

Import & Trading of Dry Fruits, Spices & allied Products

b.

Year Established

2003

 

 

Branches

 

None

 

 

Legal Status

 

Subject Company was established as a Proprietorship business in 2003

 

 

Details of Management

 

Names

Nationality

Address

Occupation

Designation

Mr. Abdul Malik

Pakistani

MR 6/4, 1st Floor Raees Tar Mohammad Street, Jodia Bazar, Karachi, Pakistan

Business

CEO / Proprietor

 

 

Associates

 

A.         Subsidiary

 

None

 

B.         Associated Companies

 

- Do -

 

 

Business Activities

 

Subject Company is engaged in import & trading of Dry Fruits, Spices & allied Products.

 

It purchases against L/C, D/A basis to its trade suppliers globally.

 

It sells against cash term basis to its domestic customers.

 

Its import globally from Companies belongs to China, India, Vietnam, Thailand, Singapore, Portugal & Ukraine.

 

Its major customers are Traders, Retailers, Food Companies etc

 

Subject operates from caption leased office premises situated at commercial market of Karachi.

 

Subject employs about 4 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2014

15,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

 

Subject import globally from Companies belongs to China, India, Vietnam, Thailand, Singapore, Portugal & Ukraine. Its global trade suppliers are Companies related to Dry Fruits, Spices & allied Products

 

 

Bankers

 

Meezan Bank Limited, Pakistan.

Soneri Bank Limited, Pakistan.

Bank Alfalah Limited, Pakistan.

MCB Bank Limited, Pakistan.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

Rs. 106.20

UK Pound

1

Rs. 158.20

Euro

1

Rs. 115.00

 

 

Comments

 

Subject Company was established in 2003 and is engaged in import & trading of Dry Fruits, Spices & allied Products. 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.66.20

UK Pound

1

Rs.98.30

Euro

1

Rs.72.41

PKR

1

Rs.0.63

Note : Above are approximate rates obtained from sources believed to be correct

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

SDA

 

 

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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