MIRA INFORM REPORT

 

 

Report Date :

17.08.2011

 

IDENTIFICATION DETAILS

 

Name :

FMC UNITED (PVT) LIMITED

 

 

Registered Office :

1/G-2, Main Canal Bank Road, Johar Town, Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

1991

 

 

Com. Reg. No.:

0023532

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Providing crop protection and pest control products for worldwide markets.

 

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 :

Usually 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 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Pakistan

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

                       

Business Name

 

FMC UNITED (PVT) LIMITED

 

 

Full Address       

 

Registered Address

1/G-2, Main Canal Bank Road, Johar Town, Lahore, Pakistan

                       

Tel #

92 (42) 111-222-362, 35314460, 37510096, 37510095

Fax #

92 (42) 35314462, 37510940

Website

www.fmc.com

 

 

Short Description Of Business

 

Nature of Business        

Engaged in providing crop protection and pest control products for worldwide markets.

Year Established

1991

Registration #

0023532

 

 

Marketing Office

 

61-A, Main Gulberg,

Lahore, Pakistan

 

 

Factory Location

 

18 K.M., Multan Road,

Lahore, Pakistan

 

 

Auditors

           

A.F. Ferguson & Co.

(Chartered Accountants)

SLIC Building No. 1-C, Off I.I. Chundrigar Road, Karachi, Pakistan

 

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1991

 

Authorized Capital

Rs. 50,000,000/- divided into 5,000,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 40,985,500/- divided into 4,098,550 shares of Rs. 10/- each

 

 

Details of Directors

 

Names

Designation

Mr. Farooq Shahid

 

Mr. Sheraz Saleem

 

Mr. Marc Hullebroeck

 

Mr. Rashid Abdullah

 

Mr. Khalid Malik

Chief Executive

 

Director

 

Director

 

Director

 

Director

 

 

Shareholders                

 

FMC Corporation, U.S.A. is a major shareholder of FMC United (Pvt) Limited, Pakistan

 

Holding Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

(1) FMC Corporation, U.S.A.                                            

 

 

Business Activities

 

Engaged in providing crop protection and pest control products for worldwide markets.

 

 

Number of Employees

 

187

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

220,000,000/- (Estimated)

 

 

Annual Production Capacity

 

Annual Company’ production is indeterminable as its multi-products and involves various process of manufacturing

 

 

Trade Suppliers (Foreign)

 

(1)     YANCHENG FOREIGN TRADE CORP. LTD, CHINA.

(2)     SINOCHEM QINGDAO CO. LTD, CHINA.

(3)     SHANGHAI FOREVER CHEMICAL CO. LTD, CHINA.               

 

 

Distributors Network

 

Mainly exist at all major cities of Pakistan

 

 

Bankers

 

(1)     Citibank N.A., Pakistan.

(2)     Standard Chartered Bank, Pakistan.

(3)     Habib Bank Limited, Pakistan.

(4)     HSBC Bank Middle East Limited, Pakistan.

(5)     Dubai Islamic Bank, Pakistan.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 86.35

UK Pound

1

           Rs. 141.00

Euro

1

           Rs. 124.20

 

 

 

Comments

 

Subject Company enjoys good reputation in Pakistan as well as in abroad. Trade relations are reported as fair. Payments are usually correct and as per commitments. 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.45.24

UK Pound

1

Rs.73.88

Euro

1

Rs.65.06

 

 

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.