MIRA INFORM REPORT

Report No. :	343356
Report Date :	07.10.2015

IDENTIFICATION DETAILS

Name :	SNOTEX PAKISTAN (PVT) LIMITED
Registered Office :	P-1170, Street No. Negheban Pura, Faisalabad
Country :	Pakistan
Date of Incorporation :	04.06.2015
Legal Form :	Private Limited Company
Line of Business :	Engaged in import, export & trading of Home Textile Products, Textile Chemicals, Leather Chemicals.
No. of Employee :	4

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
--	NB	New Business	--

Status :	New business
Payment Behaviour :	Unknown
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

SNOTEX PAKISTAN (PVT) LIMITED

Full Address

Registered Address

P-1170, Street No. Negheban Pura, Faisalabad, Pakistan

Tel #	92 (41) 8784392, 2603181, +923006693967
Fax #	92 (41) 2603181

Short Description Of Business

a.	Nature of Business	Engaged in import, export & trading of Home Textile Products, Textile Chemicals, Leather Chemicals
b.	Year Established	4^th June, 2015
c.	Registration No.	0093814

Branches

None

Auditors

Hamid Bashir

(Chartered Accountants)

Legal Status

Subject Company was incorporated as a Private Limited Company in 4^th June, 2015

Capital

Authorized Capital	Rs. 1,500,000/- divided into 150,000 shares of Rs. 10/- each
Issued & Paid up Capital	Rs. 1,000/- divided into 100 shares of Rs. 10/- each

Details of Management

Names	Designation
Mr. Muhammad Usman Javed Mr. Kashif Shafique	Chief Executive Director

Shareholders

Names	No. of Shares
Mr. Muhammad Usman Javed Mr. Kashif Shafique	50 50

Associated Companies

None

Business Activities

Engaged in import, export & trading of Home Textile Products, Textile Chemicals, Leather Chemicals

Number of Employees

4

Annual Sales Volume

Year	In Pak Rupees
2015	Not ascertained as the subject is a new Company and not yet commenced its business operations

Customers

None

Bankers

MCB Bank Limited, Pakistan.

Askari Bank Limited, Pakistan.

Habib Bank Limited, Pakistan.

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 4^th June, 2015 and is engaged in import, export & trading of Home Textile Products, Textile Chemicals, Leather Chemicals. Trade relations are not known as Company is new in this business. Such as conducting business activity with the subject is considered to be a trade risk.

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 :	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%)

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.