MIRA INFORM REPORT

Report No. :	342907
Report Date :	01.10.2015

IDENTIFICATION DETAILS

Name :	J & P COATS PAKISTAN (PVT) LIMITED

Registered Office :	P & O Plaza, I.I. Chundrigar Road, Karachi

Country :	Pakistan

Date of Incorporation :	1948

Com. Reg. No.:	0000190

Legal Form :	Private Limited Company

Line of Business :	Manufactures and sells threads of various types & qualities.

No. of Employee :	265

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 :

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ECGC Country Risk Classification List – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Pakistan

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

Company name

J & P COATS PAKISTAN (PVT) LIMITED

Full Address

Registered Address

P & O Plaza, I.I. Chundrigar Road, Karachi, Pakistan

Tel #	92 (21) 111-115-115, 32412568, 32412569
Fax #	92 (21) 32416030

Short Description Of Business

a.	Nature of Business	The Company manufactures and sells threads of various types & qualities
b.	Year Established	1948
c.	Registration #	0000190

Factory Location

C-10 South Avenue S.I.T.E.,

Karachi, Pakistan

Auditors

M. Yousuf Adil Saleem & Co.

(Chartered Accountants)

Legal Status

Subject Company was established as a Private Limited Company in 1948

6.	Authorised Capital	Rs. 300,000,000/- divided into 3,000,000 shares of Rs. 100/- each
	Issued & Paid up Capital	Rs. 300,000,000/- divided into 3,000,000 shares of Rs. 100/- each

Details of Directors

Names

Designation

Mr. Amyn Currimbhoy

Mr. Roger Bevan

Mr. Anil Dias

Chief Executive

Director

Shareholders

Names

No. of Shares

Coats South Asia Holding B.V, The Netherlands

Mr. Amyn Currimbhoy

Mr. Roger Bevan

2,999,920

Parent Company

Coats South Asia Holding B.V., The Netherland is a parent company of J & P Coats Pakistan (Pvt) Limited

Business Activities

The Company manufactures and sells threads of various types & qualities

No. of Employees

265

Annual Sales Volume

Year

In Pak Rupees

2013

1,200,000,000/- (Estimated)

Trade Suppliers (Foreign)

Subject mainly import from Companies belongs to China, India, Korea, Hong Kong, Taiwan, Thailand, Indonesia & Japan

Bankers

(1) HSBC Bank Middle East Limited, Pakistan.

(2) Standard Chartered Bank, Pakistan.

(3) Faysal Bank Limited, Pakistan.

(4) Bank Alfalah Limited, Pakistan.

(5) MCB Bank Limited, Pakistan.

Memberships

Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 104.15
UK Pound	1	Rs. 158.50
Euro	1	Rs. 114.90

Comments

Subject Company was established in 1948. The Company manufactures and sells threads of various types & qualities. Market reputation is satisfactory. 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.65.74
UK Pound	1	Rs.99.53
Euro	1	Rs.73.79

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	ANK

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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