MIRA INFORM
REPORT
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Report Date : |
24.04.2012 |
IDENTIFICATION DETAILS
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Name : |
ECOPACK LIMITED |
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Registered Office : |
Plot #112-113, Phase-V, Hattar Industrial Estate, Khyber Pakhtoonkwa |
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Country : |
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Financials (as on) : |
30.06.2011 |
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Year of Establishment : |
2000 |
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Com. Reg. No.: |
0041694 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacture and sale of Polyethylene Terepthalat (PET) bottles and performs for the market of Beverages and other liquid packaging industry |
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No. of Employees
: |
110 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 7000 |
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Status : |
Moderate |
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Payment
Behaviour : |
Slow |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Pakistan |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
ECOPACK LIMITED
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Registered Address
& Factory |
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Plot #112-113, Phase-V, Hattar
Industrial Estate, |
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Tel # |
92
(995) 617682, 617683 |
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Fax # |
92
(995) 617074 |
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a. |
Nature of Business |
Manufacture and sale of Polyethylene Terepthalat (PET) bottles and performs
for the market of Beverages and other liquid packaging industry. |
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b. |
Year Established |
2000 |
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c. |
Registration # |
0041694 |
·
House #196, Street #20, G-10/2,
·
# 206, 2nd Floor, The Plaza Block-9, K.D.A. Scheme
#5, Kekhashan Clifton, Karachi, Pakistan.
Rahman Sarfaraz Rahim Iqbal Rafiq
(Chartered
Accountants)
The Company was incorporated as a Public Limited Company and
is quoted at stock exchanges of
|
Names |
Designation |
|
Mr. Hussain Jamil Mr. Shahid Jamil Mrs. Deborah Jamil Mrs. Ayesha Khan Ms. Laila Jamil Mr. Asad Ali Sheikh Mr. Mohammad Raza Chinoy |
Chairman / Chief Executive Director Director Director Director Director Director |
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Shareholders |
Percentage (%) |
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Associated Companies, undertaking & related parties Banks, Development Financial Institutions, Non Banking Financial Institutions Insurance Companies Directors, Chief Executive Officer and their Spouses and minor children Modarbas and Mutual Funds NIT & ICP Foreign Investors Others Individuals |
0.00 2.523 3.529 39.609 9.430 0.004 0.51 1.29 43.11 |
None
Manufacture and sale of Polyethylene Terepthalat (PET) bottles and performs for the market of Beverages and other liquid packaging industry.
110
Quantities in ‘000’
------------------------------------------
June
2011 June 2010
Blowing
Capacity -
no. of bottles 304,200 304,200
Production
- no. of bottles
89,267
179,387
Utilization 29% 59%
Injection
Capacity -
no. of performs 415,733 415,733
Production
- no. of performs 232,316 275,571
Utilization 56% 66%
The
underutilization of capacity was due to market constraints
(Last Two Years)
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Years |
Rupees in ‘000 |
|
2010 2011 |
1,742,074 /- 1,784,754 /- |
Mainly Beverage Manufacturers, Food Companies etc
·
Askari Bank Limited,
· Habib Bank Limited, Pakistan.
· Allied Bank Limited, Pakistan.
· JS Bank Limited, Pakistan.
· Faysal Bank Limited, Pakistan.
·
Federation
·
Karachi Chamber of Commerce & Industry.
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 91.00 |
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|
1 |
Rs. 145.50 |
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Euro |
1 |
Rs. 119.00 |
Sound
Subject Company enjoys satisfactory reputation in Pakistan. Chairman & directors of the Company are reported as resourceful and experienced businessmen. Payments are reported as correct. Company can be considered for normal business dealings at usual trade terms and conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.23 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.68.84 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.