MIRA INFORM REPORT

 

 

Report Date :

25.02.2011

 

IDENTIFICATION DETAILS

 

Name :

PAKISTAN MOBILE COMMUNICATIONS LIMITED

 

 

Registered Office :

1-A, IBC Building, F-8 Markaz, Islamabad

 

 

Country :

Pakistan

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1990

 

 

Com. Reg. No.:

0022993

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Installation, Operation and Maintenance of a Countrywide GSM 900 Mhtz Cellular Network Under the Brand Name of Mobilink.

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Pakistan

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name

 

PAKISTAN MOBILE COMMUNICATIONS LIMITED

 

 

Company Address                      

 

Registered Address

1-A, IBC Building, F-8 Markaz, Islamabad, Pakistan

                       

Tel #

92 (51) 2818174, 2818175, 2818176

Fax #

92 (51) 2818159

Email

companysecretary@mobilink.net

 

 

Short Description Of Business

a.

Nature of Business        

Installation, operation and maintenance of a countrywide GSM 900 MHtz cellular network under the brand name of Mobilink.

b.

Year Established

1990

c.

Registration #

0022993

 

 

 

 

 

 

 

 

Regional Offices

           

In Lahore, Islamabad, Karachi, Peshawar, Quetta, Multan & Faisalabad

 

 

Auditors

           

KPMG Taseer Hadi & Co.

(Chartered Accountants)

6th Floor, State Life Building No. 5, Jinnah Avenue, Islamabad, Pakistan

 

 

Legal Status

           

Subject Company was established as a Private Limited Company in 1990

 

Authorized Capital

Rs. 30,000,000,000 divided into 3,000,000,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 22,527,215,980 divided into 2,252,721,598 shares of Rs. 10/- each

Details of Directors

 

Names

Designation

Mr. Rashid Naseer Khan

 

Mr. Khaled Galal Guiguis Bishara

 

Mr. Javed Saifullah Khan

 

Mr. Anwar Saifullah Khan

 

Mr. Iskander Shalaby Naguib Rezk Shalaby

 

Mr. Emad Shawky Farid

 

Mr. Aldo Mareuse

 

Mrs. Wafaa Sayed Latif Mobarak

 

Mr. Ragy Gamal El Din Mahmoud Soliman

 

Mr. Amr Esmat El Sayed Abaza

Chief Executive

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

 

Shareholders                

 

Names

No. of Shares

Mr. Rashid Naseer Khan

 

Telecom Management Group Limited, Malta

 

International Wireless Communications Pakistan Limited

1,000

 

 

13,015,324

 

 

2,239,705,274

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

Subsidiary

None  

           

Associated Companies

 

  • KSK Investment  (Pvt.) Ltd, Pakistan.
  • Kohat Textile Mills Ltd, Pakistan.
  • Saif International Combine (Pvt.) Ltd, Pakistan.
  • Saif Telecom (Pvt.) Ltd, Pakistan.
  • Saif Textile Mills Ltd, Pakistan.
  • Lucky Cement Ltd, Pakistan.

 

 

Services

 

GSM 900 MHtz.

 

 

Number of Employees

 

850

 

 

Annual Sales Revenue

           

Years

In Pak Rupees

2008

2009

81,154,873,121/-

80,481,330,757/-

 

 

Bankers

 

  • Citibank N.A., Pakistan.
  • Standard Chartered Bank, Pakistan.
  • United Bank Limited, Pakistan.
  • Habib Bank Limited, Pakistan.

·         Union Bank Limited, Corporate Branch, F-7 Markaz, Islamabad, Pakistan.

·         The Royal Bank of Scotland, Pakistan.

·         Deutsche Bank AG, Pakistan.

·         Soneri Bank Limited, Pakistan.

·         Askari Bank Limited, Pakistan.

·         Habib Bank Limited, Pakistan.

 

Financial Results

 

During the year under review, the Company generated total revenue of Rs. 80,481 million as against Rs. 81,155 million for the last year showing a decrease of Rs. 674 million or 0.83%. Operating profit for the year under review has been Rs. 10,267 million or 12.76% of total revenue as compared to Rs. 7,502 million for the last year representing 9.24% of total revenue. Other income for the year amounted to Rs. 3,846 million as against Rs. 568 million of last year showing an increase of 577.11%.

 

 

 

Financial Position

 

Sound

 

 

Memberships

 

  • Federation Pakistan Chamber of Commerce & Industry.

 

 

Foreign Exchange Rates

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 85.40

UK Pound

1

           Rs. 137.86

Euro

1

           Rs. 116.80

 

 

 

 

           

 

 

Comments  

 

Subject Company enjoys excellent credibility in Pakistan as well as in abroad. Group have extremely sound financial base as well as key management is highly qualified. Subject can be considered for moderate business engagements at usual trade terms and conditions.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.73.54

Euro

1

Rs.62.39

 

 

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 Company

----

 

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.