MIRA INFORM REPORT

 

 

Report Date :           

24.05.2011

 

IDENTIFICATION DETAILS

 

Name :

AREVA T & D PAKISTAN (PVT) LIMITED 

 

 

Formerly Known As :

Alstom Pakistan (Pvt) Limited

 

 

Registered Office :

D-163, S.I.T.E., Karachi 75700

 

 

Country :

Pakistan

 

 

Year of Establishment

1963

 

 

Com. Reg. No.:

0001818  

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture & Installation of Electrical Switchgears, Grid Stations & Distribution Systems

 

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 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

 

 Bottom of Form

 

Business Name

 

AREVA T & D PAKISTAN (PVT) LIMITED

 

 

Full Address       

 

Registered Address

D-163, S.I.T.E., Karachi 75700, Pakistan

                                               

Tel #

92 (21) 2576005 - 09 (5 Lines)

Fax #

92 (21) 2560449 

Email

apkho@cyber.net.pk,

pervezsk@cyber.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business        

Manufacture & Installation of Electrical Switchgears, Grid Stations & Distribution Systems

b.

Year Established

1963

c.

Registration #

0001818  

 

 

Branches

           

Address

3rd Floor, KSB Building, 16/2 Sir Aga Khan III Road, Lahore, Pakistan

Tel #

92 (42) 36300688, 36300685

Fax #

92 (42) 36300683

 

 

Auditors

 

M. Yousuf Adil Saleem & Co.

(Chartered Accountants)

Cavish Court, A-35, Block 7 & 8, KCHSU, Shahrah-e-Faisal, Karachi, Pakistan

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1963 by the name of AEG Pakistan (Pvt) Limited. In 1985, Its name was changed from “AEG Pakistan (Pvt) Limited to “Alstom Pakistan (Pvt) Limited”. In December, 2005 the subject company has been applied for change of name from “Alstom Pakistan (Pvt) Limited” to “AREVA T & D Pakistan (Pvt) Limited” which is finally been approved with the securities & exchange commission of Pakistan.

 

 

Authorized Capital

Rs. 200,000,000/- divided into 2,000,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 100,000,000/- divided into 1,000,000 shares of Rs. 100/- each

 

 

Details of Management

 

Name

Designation

Mr. Mazhar Valjee

 

Mr. Bryan Foster

 

Mr. Ravi Arthur

 

Mr. Sarmad Amin

 

Mr. Marco Graziano

Chief Executive

 

Director

 

Director

 

Director

 

Director

 

 

Shareholders                

 

Name

No of Shares

Areva T & D Holding, France

 

Mr. Sarmad Amin

800,000

 

200,000

 

 

Associated Companies

 

(1) Areva T & D Holding, France is the holding company of Areva T & D Pakistan (Pvt) Limited (80% shares held)    

 

 

 

Products

 

Manufacture & Installation of Electrical Switchgears, Grid Stations, Distribution Systems including Electric Power Plug Automatic Tripping, Electric Switch Board, Electric Panels & Distribution Boards, Electrical Switchgears,
Power Engineering, Industrial Instrumentation, Sugar Mill Machinery & Parts, Electric Circuit Breakers of all types, Electric Meters, Electric Motors.

 

 

Number of Employees

 

300 - 350          

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2008 - 2009

700,000,000/- (Estimated)

 

 

Trade Suppliers

(Foreign)

 

·         TYCO ELECTR RAYCHEM GMBH, GERMANY.

·         AVATEX POWER PTE LIMITED, SINGAPORE.

 

 

Clientele

 

Mainly Sugar Companies, Engineering Concerns, Manufacturing Companies, Government Organizations etc

 

 

Bankers

 

(1)     Bank Al-Habib Limited, Pakistan

(2)     The Royal Bank of Scotland, Pakistan.

(3)     Faysal Bank Limited, Pakistan.

(4)     Standard Chartered Bank, Pakistan.

(5)     Habib Bank Limited, Pakistan.

(6)     Soneri Bank Limited, Pakistan.

 

 

 

Memberships

 

·         Federation Pakistan Chamber of Commerce & Industry.(FPCCI)

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 86.00

UK Pound

1

           Rs. 139.30

Euro

1

           Rs. 121.20

 

 

Comments

 

Subject Company enjoys good reputation internationally as well as in Pakistan. Directors are reported as qualified, resourceful and experienced businessmen. Payments to creditors etc are reported as normal. The Company can be considered good for normal business dealings at usual trade terms and conditions.

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.28

UK Pound

1

Rs.73.30

Euro

1

Rs.63.61

 

 

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.