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Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
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Name : |
ZAMZAMA CERAMICS CENTRE |
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Registered Office : |
23-DEF, Mezzanine Floor 5th Commercial Lane, Zamzama Boulevard, Phase-V, D.H.A., Karachi |
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Country : |
Pakistan |
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Year of Establishment : |
1999 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Import &
Trading of Ceramic Products & Sanitary Ware Items |
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No. of Employees : |
12 persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
PAKISTAN - ECONOMIC OVERVIEW
Decades of internal political
disputes and low levels of foreign investment have led to slow growth and
underdevelopment in Pakistan. Agriculture accounts for more than one-fifth of
output and two-fifths of employment. Textiles account for most of Pakistan's
export earnings, and Pakistan's failure to expand a viable export base for
other manufactures has left the country vulnerable to shifts in world demand.
Official unemployment is 6%, but this fails to capture the true picture,
because much of the economy is informal and underemployment remains high. Over
the past few years, low growth and high inflation, led by a spurt in food
prices, have increased the amount of poverty - the UN Human Development Report estimated
poverty in 2011 at almost 50% of the population. Inflation has worsened the
situation, climbing from 7.7% in 2007 to more than 13% for 2011, before
declining to 9.3% at year-end. As a result of political and economic
instability, the Pakistani rupee has depreciated more than 40% since 2007. The
government agreed to an International Monetary Fund Standby Arrangement in
November 2008 in response to a balance of payments crisis. Although the economy
has stabilized since the crisis, it has failed to recover. Foreign investment
has not returned, due to investor concerns related to governance, energy,
security, and a slow-down in the global economy. Remittances from overseas
workers, averaging about $1 billion a month since March 2011, remain a bright spot
for Pakistan. However, after a small current account surplus in fiscal year
2011 (July 2010/June 2011), Pakistan's current account turned to deficit in the
second half of 2011, spurred by higher prices for imported oil and lower prices
for exported cotton. Pakistan remains stuck in a low-income, low-growth trap,
with growth averaging 2.9% per year from 2008 to 2011. Pakistan must address
long standing issues related to government revenues and energy production in
order to spur the amount of economic growth that will be necessary to employ
its growing population. Other long term challenges include expanding investment
in education and healthcare, and reducing dependence on foreign donors.
Source : CIA
ZAMZAMA CERAMICS CENTRE
|
Registered
Address |
|
23-DEF, Mezzanine Floor 5th Commercial Lane, Zamzama
Boulevard, Phase-V, D.H.A., Karachi, Pakistan |
|
Tel # |
92 (21) 35836744, 35372291 |
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Fax # |
92 (21) 35836745 |
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Email |
|
a. |
Nature of Business |
Import & Trading of Ceramic Products & Sanitary Ware Items |
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b. |
Year Established |
1999 |
In
Karachi
at present
|
Subject Company was established as a Proprietorship business in 1999 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Javed Amin Lasania |
Pakistani |
23-DEF,
Mezzanine Floor 5th Commercial Lane, Zamzama Boulevard, Phase-V,
D.H.A., Karachi |
Business |
Proprietor |
|
None |
Subject Company is engaged in the business
as import & trading of Ceramic
Products & Sanitary Ware Items.
It purchases against D/A, D/P, L/C basis.
It sells against Cash to its local
customers.
It’s mainly import from China, Spain, Italy,
Indonesia, Malaysia & U.A.E.
Its major customers are Construction
Companies, Private Contractors, and Distributors.
Subject operates from caption leased office
premises of area measuring 1,000 Sq.ft which is situated at commercial area of
Karachi.
Subject employs about 12 persons in its set up.
|
Year |
In Pak Rupees |
|
2011 |
42,000,000/- (Estimated) |
(1)
CLASSIC CERAMICS,
(2)
FUZHOU FUGIU GOLSTON IMP
& EXP, CHINA.
(3)
TICOS INTERNATIONAL GENERAL
TRADING LLC, U.A.E.
(1) MCB Bank Limited,
Pakistan.
(2) Askari Bank
Limited, Pakistan.
(3) Soneri Bank
Limited, Pakistan.
(4) Faysal Bank
Limited, Pakistan.
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 97.30 |
|
UK Pound |
1 |
Rs. 159.00 |
|
Euro |
1 |
Rs. 128.13 |
Subject Company was established in 1999 and
is engaged in import & trading of Ceramic
Products & Sanitary Ware Items. Market
reputation is satisfactory. 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.55.08 |
|
|
1 |
Rs.89.53 |
|
Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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 |
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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 |
|
-- |
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.