MIRA INFORM REPORT

 

 

Report No. :

344163

Report Date :

12.10.2015

 

IDENTIFICATION DETAILS

 

Name :

SHAMOIL RAFIQ

 

 

Registered Office :

F-202, 2nd Floor, Sana Villas, Plot # 224, Prince Aly Khan Street, Garden East, Karachi

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1991

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Import, Indenting & Trading of Pulses, Spices & Commodities

 

 

No. of Employees :

4

 

 

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 :

Moderate

Payment Behaviour :

Slow but correct

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

 

SHAMOIL RAFIQ

 

 

Full Address       

 

Registered Address

 

F-202, 2nd Floor, Sana Villas, Plot # 224, Prince Aly Khan Street, Garden East, Karachi, Pakistan

                       

Tel #

92 (21) 32416923, 32423311

Fax #

92 (21) 32424414, 32227610

Email

shamoilrafiq@hotmail.com

 

 

Short Description Of Business

 

a.

Nature of Business       

Import, Indenting & Trading of Pulses, Spices & Commodities

b.

Year Established

1991

 

 

Branches

 

None

 

 

Legal Status

 

Subject Company was established as a Proprietorship business in 1991

 

 

Details of Management

 

Names

 

Nationality

Address

Occupation

Designation

Mr. Shamoil Rafiq

 

 

 

 

Mr. Rafiq Selani

Pakistani

 

 

 

 

Pakistani

 

F-202, 2nd Floor, Sana Villas, Plot # 224, Prince Aly Khan Street, Garden East, Karachi

 

F-202, 2nd Floor, Sana Villas, Plot # 224, Prince Aly Khan Street, Garden East, Karachi

Business

 

 

 

 

Business

 

 

Proprietor

 

 

 

 

Manager (Import)

 

 

Associated Companies

 

(1) Rafiq Brothers, Pakistan.

(2) Selani International (Pvt) Limited, Pakistan.

 

 

Business Activities

 

Subject Company is engaged in import, indenting & trading of Pulses, Spices & Commodities.

 

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

 

It sells against cash / credit term basis to its domestic customers.

 

It’s mainly import from China, India, Australia, Canada, Portugal, Thailand, Ukraine & Vietnam.

 

Its major customers are Traders, Retailers, Food Companies etc.

 

Subject operates from caption leased office premises situated at commercial area of Karachi.

 

Subject employs about 4 persons in its set up.

 

 

Annual Sales Volume

 

Year

 

In Pak Rupees

2013

23,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

 

Various International belongs to China, India, Australia, Canada, Portugal, Thailand, Ukraine & Vietnam

 

 

Bankers

 

Soneri Bank Limited, Pakistan.

Meezan Bank Limited, Pakistan.

United Bank Limited, Pakistan.

MCB Bank Limited, Pakistan.

Habib Bank Limited, Pakistan.

 

 

Memberships

 

Karachi Chamber of Commerce & Industry.(KCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

          Rs. 104.40

UK Pound

1

          Rs. 159.50

Euro

1

          Rs. 117.75

 

 

Comments

 

Subject Company was established in 1991 and is engaged in import, indenting & trading business. 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.64.78

UK Pound

1

Rs.99.54

Euro

1

Rs.73.08

 

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

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%)

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