MIRA INFORM REPORT

 

 

Report No. :

343353

Report Date :

01.10.2015

 

IDENTIFICATION DETAILS

 

Name :

TARIQ CHEMICALS

 

 

Registered Office :

16/G, Pakistan Market, Rail & Kutchery Bazar, Faisalabad

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1991

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Engaged in import & trading of Dyes & Chemicals

 

 

No. of Employees :

6

 

 

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 :

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, 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

 

Business Name

 

TARIQ CHEMICALS

 

 

Full Address       

 

Registered Address

 

16/G, Pakistan Market, Rail & Kutchery Bazar, Faisalabad, Pakistan.

                       

Tel #

92 (41) 2647897, 2628512

Fax #

92 (41) 2636079

Email

tariqali67@yahoo.com

 

 

Short Description Of Business

 

a.

Nature of Business      

Engaged in import & trading of Dyes & Chemicals

b.

Year Established

1991

c.

National Tax #

1961332 - 6

 

 

Branches

 

Office # 1, 2nd Floor, Chemi Plaza, Street # 5,

Katchery Bazar, Faisalabad, Pakistan

 

 

Legal Status

 

Subject Company was established as a Proprietorship business in 1991

 

 

Details of Management

 

Names

 

Nationality

Address

Occupation

Designation

Mr. Tariq Ali

Pakistani

#1,Chemi Plaza,2nd Floor,St.#5,Katchery Bazar,
Faisalabad

Business

CEO / Proprietor

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

None

           

B.         Associated Companies

 

- Do -

 

 

Business Activities

 

Subject Company is engaged in import & trading of Dyes & Chemicals.

 

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

 

It sells against Cash / Credit Terms to its domestic customers.

 

Its importing countries are India, China, Korea, Indonesia & European Countries.

 

Its major customers are Private Companies, Traders, Textile Companies etc.

 

Subject operates from caption leased office premises of area measuring 875 sq.ft. situated at commercial market of Faisalabad.

 

Subject employs about 6 persons in its set up.

 

 

Importing Countries

 

Subject import globally from Companies belongs to India, China, Korea, Indonesia & European Countries               

 

 

Annual Sales Volume

 

Year

 

In Pak Rupees

2013

32,000,000/- (Estimated)

 

 

Bankers

 

(1) Soneri Bank Limited, Chiniot Bazar, Faisalabad, Pakistan.

(2) Allied Bank Limited, Gole Cloth Branch, Faisalabad, Pakistan.

Memberships

 

Faisalabad Chamber of Commerce & Industry.(FCCI)

 

 

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 1991 and is engaged in import & trading of Dyes & Chemicals. Market reputation is satisfactory. 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.65.74

UK Pound

1

Rs.99.53

Euro

1

Rs.73.80

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

               

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.