MIRA INFORM REPORT

 

 

Report No. :

343709

Report Date :

07.10.2015

           

IDENTIFICATION DETAILS

 

Name :

ZIMBIS KNITWEARS (PRIVATE) LIMITED

 

 

Registered Office :

17/A, 32/S, New Islamia Park, Lahore

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1991

 

 

Com. Reg. No.:

0025523

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Engaged in manufacture & export of Knitted Garments.

 

 

No. of Employee :

80

 

 

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

 

Company name

                                   

ZIMBIS KNITWEARS (PRIVATE) LIMITED

 

 

Full Address       

 

Registered Address

17/A, 32/S, New Islamia Park, Lahore, Pakistan

                       

Tel #

92 (42) 35321648, 35321645

Fax #

92 (42) 35321649

Email

zimbis@lhr.comsats.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business      

Engaged in manufacture & export of Knitted Garments

b.

Year Established

1991

c.

Registration #

0025523

 

 

Factory Location

                       

Address

7.5 K.M., Raiwind Road Near Technical College, Dubai Town, Lahore, Pakistan

Tel No.

92 (42) 35321648, 35321641

Fax No.

92 (42) 35321649

 

 

Auditors

 

Inaam Ul Haq & Co.

(Chartered Accountants)

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1991

 

 

Capital

 

 

Authorized Capital    

Rs. 22,500,000/- divided into 225,000 shares of Rs. 100/- each

 

Issued & Paid up Capital

Rs. 19,500,000/- divided into 195,000 shares of Rs. 100/- each

 

 

Details of Directors

 

Names

Designation

Mr. Ch. Muhammad Iftikhar Ali

 

Dr. Muhammad Imtiaz Ali

Chief Executive

 

Director

 

 

Shareholders                

           

Names

No of Shares

Dr. Muhammad Zulfiqar Ali

 

Ch. Muhammad Iftikhar Ali

 

Dr. Muhammad Imtiaz Ali

 

Mrs. Wasim Islam Khan

 

Mrs. Farhana Iftikhar

 

Mrs. Nasreen Imtiaz

 

Mr. Muhammad Tauseef Ali Sulehri

 

Mr. Muhammad Ahmed

 

Mrs. Bushra Iftikhar

15,000

 

50,000

 

20,000

 

10,000

 

30,000

 

20,000

 

10,000

 

20,000

 

20,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

None

           

B.         Associated Companies

 

- Do -

 

 

Business Activities

 

Subject Company is engaged in manufacture & export of Knitted Garments.

 

It’s mainly import Garments Raw Material, Machineries through L/C, D/A basis to its trade suppliers globally.

 

Its main products are Knitted Garments & Readymade Garments.

 

It sells its products through L/C, D/P basis to its customers globally.

 

Its major customers are reputable companies, worldwide.

 

Subject operates from caption leased office & factory premises situated at commercial & industrial centers of Lahore

 

Subject employs about 80 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2014

99,219,386/-

 

 

Production Capactiy

 

Approximately 6,000 pieces per day

 

 

Customers

           

Major customers are Buying Agencies, Private Companies, International Buyers etc

 

 

Bankers

 

(1) MCB Bank Limited, Pakistan.

(2) Bank Al-Falah Limited, Pakistan.

(3) Habib Metropolitan Bank Limited, Pakistan.

 

(Total Mortgage obtained PKR: 50,000,000/-)

 

 

Memberships

 

Pakistan Readymade Garment Manufacturers Association.(PRGMA)

Pakistan Hosiery Manufacturers Association.(PHMA)

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 1991 and is engaged in manufacture & export of Knitted Garments. 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.9905

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.