MIRA INFORM REPORT

 

 

Report No. :

343525

Report Date :

07.10.2015

 

IDENTIFICATION DETAILS

 

Name :

RAZZAQ ENTERPRISES

 

 

Registered Office :

260, Ali Block, Sector B, Bahria Town, Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

2010

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Import & Trading of Chemicals, Textile Raw Materials.

 

 

No. of Employees :

2

 

 

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 :

Slow

 

 

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 Name

                                   

Business Name

RAZZAQ ENTERPRISES

 

 

Full Address       

 

Registered Address

260, Ali Block, Sector B, Bahria Town, Lahore, Pakistan

                       

Tel #

+923009495344

Fax #

---

Email

raoazeem8@hotmail.com

 

 

Short Description Of Business

 

a.

Nature of Business      

Engaged in import & trading of Chemicals, Textile Raw Materials

b.

Year Established

2010

 

 

Branches

 

None

 

 

Legal Status

 

Subject Company was established as a Proprietorship business in 2010

 

 

Details of Management

 

Names

 

Nationality

Address

Occupation

Designation

Mr. Muhammad Tariq

 

Pakistani

 

 

260, Ali Block, Sector B, Bahria Town, Lahore

Business

 

 

CEO / Proprietor

 

 

 

 

Associated Companies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

 

None

 

 

Business Activities

 

Subject Company is engaged in import & trading of Chemicals, Textile Raw Materials.

 

Local sales are mostly on credit term basis to its domestic customers.

 

It’s mainly import from China, Hong Kong, Korea & India.

 

Its major customers are Traders, Private Companies etc.

 

Subject operates from caption leased office premises situated at residential area of Lahore.

 

Subject employs about 2 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2014

4,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

           

Subject import globally from Companies belongs to China, Hong Kong, Korea & India

 

 

Bankers

 

(1) Silk Bank Limited, Pakistan.

(2) Summit Bank Limited, Pakistan.

(3) Askari Bank Limited, Pakistan.

 

 

Memberships

 

·         Lahore Chamber of Commerce & Industry.(LCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

         Rs. 104.25

UK Pound

1

         Rs. 157.90

Euro

1

         Rs. 116.25

 

 

Comments

 

Subject Company was established in 2010 and is engaged in import & trading of Chemicals, Textile Raw Materials. 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.65.39

UK Pound

1

Rs.99.05

Euro

1

Rs.73.19

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

               

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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