MIRA INFORM REPORT

 

 

Report No. :

342429

Report Date :

30.09.2015

 

IDENTIFICATION DETAILS

 

Name :

ASIAN TRADING CORPORATION

 

 

Registered Office :

46-Muqadass Park, Gulshan-e-Ravi, Lahore

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1995

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Subject is engaged in import, indenting & trading of Industrial Chemicals, Textile Chemicals, Dyes & Pigments

 

 

No. of Employees :

Not Available

 

 

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 :

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 and Address        

 

ASIAN TRADING CORPORATION

           

Registered Address

46-Muqadass Park, Gulshan-e-Ravi, Lahore, Pakistan

                       

Tel #

92 (42) 37415954, 37463991

Fax #

92 (42) 37463991

 

 

Short Description Of Business

 

a.

Nature of Business       

Import, Indenting & Trading of Industrial Chemicals, Textile Chemicals, Dyes & Pigments

b.

Year Established

1995

 

 

Branches

 

None

 

 

Legal Status

 

Subject Company was established as a Proprietorship business in 1995

 

 

Details of Management

 

Names

Nationality

Address

Occupation

Designation

Mr. Imran Shahid Bhatti

Pakistani

 

46-Muqadass Park, Gulshan-e-Ravi, Lahore

Business

 

CEO / Proprietor

 

 

 

Associated Companies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

 

None

 

 

 

Business Activities

 

Subject Company is engaged in import, indenting & trading of Industrial Chemicals, Textile Chemicals, Dyes & Pigments.

 

Payments would be made through L/C, D/A basis to its trade suppliers globally.

 

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

 

It’s mainly import from China, Hong Kong, Korea, Taiwan, India, Germany, Indonesia & U.A.E.

 

Its major customers are Trading Companies, Chemical Manufacturers, Industrial Organizations.

 

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

 

Subject employs about 5 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2013

18,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

           

Subject import globally from Companies belongs to China, Hong Kong, Korea, Taiwan, India, Germany, Indonesia & U.A.E.

 

 

Bankers

 

(1) United Bank Limited, Pakistan.

(2) MCB Bank Limited, Pakistan.

(3) Habib Bank Limited, Pakistan.

(4) Bank Alfalah Limited, Pakistan.

 

 

Memberships

 

Lahore Chamber of Commerce & Industry.(LCCI)

 

 

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 1995 and is engaged in import, indenting & trading business. Overall reputation is normal. 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.66.18

UK Pound

1

Rs.100.46

Euro

1

Rs.74.61

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TRU

 

               

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.