MIRA INFORM REPORT

 

 

Report Date :           

01.02.2012

 

IDENTIFICATION DETAILS

 

Name :

CLARIANT PAKISTAN LIMITED

 

 

Registered Office :

1-A/1, Sector-20, Korangi Industrial Area, Karachi

 

 

Country :

Pakistan

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1996

 

 

Com. Reg. No.:

0037175 (Old Registration No. was 6606/19961007)  

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture & Sells Chemicals, Dyestuff, Emulsions and Masterbatches

 

 

No. of Employees :

355

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

CLARIANT PAKISTAN LIMITED

 

 

Full Address       

 

Registered Address

1-A/1, Sector-20, Korangi Industrial Area, Karachi, Pakistan

                       

Tel #

92 (21) 35046710, 35046711

Fax #

92 (21) 35046712

Website

www.clariant.com.pk

 

 

Short Description Of Business

 

a.

Nature of Business        

Manufacture & Sells Chemicals, Dyestuff, Emulsions and Masterbatches

b.

Year Established

1996

c.

Registration #

0037175 (Old Registration No. was 6606/19961007)  

 

 

Factories

 

·         Korangi Industrial Area, Karachi.

·         Petaro Road, Jamshoro.

·         Katarband Road, Thokar Niaz Baig, Lahore.

 

 

Branches

 

In Faisalabad & Lahore

 

 

Auditors

 

A.F. Ferguson & Co.

(Chartered Accountants)

 

 

Legal Status

 

The Company is a limited liability company and is incorporated and domicified in Pakistan. The Company is listed on the Karachi Stock Exchange

 

 

Details of Chairman/Directors

 

Names

Designation

Mr. Mujtaba Rahim

 

Mr. Akbarali Pesnani

 

Dr. S. Mubarik Ali

 

Mr. Veqar Arif

 

Mr.  Peter Schiess

 

Mr. Stephan Lynen

Chairman & Chief Executive

 

Director

 

Director

 

Director

 

Director

 

Director

 

 

Categories of Shareholders

 

Shareholders

Percentage (%)

Individuals

 

National Investment Trust and Investment Corporation of Pakistan

 

Public Sector Companies & Corporations

 

Associated Companies, Undertakings and Related Parties

 

Directors, Chief Executive Officer and their Spouses & Minor Children

 

Banks, Development Finance Institutions, Non Banking Finance Institutions, Insurance Companies, Modarbas and Mutual Fund

 

Others

9.01

 

 

5.69

 

 

2.09

 

 

75.00

 

 

-

 

 

 

 

8.01

 

021

 

 

Holding Company

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

The Company is a subsidiary of Clariant International Limited incorporated in Switzerland.

 

 

Principle Activities

 

Clariant is the global leader in the field of Specialty Chemicals with presence in five continents and 90 countries with more than 100 operating group companies, employing about 25,000 people and headquartered in Muttenz near Basle, Switzerland. Clariant’s businesses are organized in five divisions: Textile, Leather & Paper Chemicals, Masterbatches, Pigments & Additives, Functional Chemicals and Life Sciences Chemicals.

 

 

Number of Employees

 

355

 

 

Plant Capacity & Production

 

Production during the year was 46,562 tonnes (2009: 47,588 tonnes). The capacity is indeterminable because of multi-product plants involving varying processes of manufacture.

 

 

               

Annual Sales Turnover

(Last Two Years)

 

Years

In Pak Rupees

2009

2010

8,396,745,000/-

9,094,934,000/-

 

 

Distributors

 

Mainly exist at major cities of Pakistan.

 

Bankers

 

(1) Faysal Bank Limited, Pakistan.

(2) Citibank, N.A., Pakistan.

(3) Habib Bank Limited, Pakistan, Pakistan.

(4) National Bank of Pakistan.

(5) Standard Chartered Bank (Pakistan) Limited, Pakistan.

(6) HSBC Bank Middle East Limited, Pakistan.

(7) Meezan Bank Limited, Pakistan.

 

 

Future Outlook

 

It hopes that Textiles and other major consumption industry shall benefit from the improving business scenario. In view of the anticipated growth, Company shall continue to sustain its market leadership in all the business segments

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 90.30

UK Pound

1

           Rs. 141.20

Euro

1

           Rs. 118.20

 

 

Financial Position

 

Very Sound

 

 

Comments

 

Subject Company enjoys excellent credibility internationally as well as in Pakistan. Chairman & directors of the Company are reported as resourceful and experienced businessmen. Payments are reported as correct. 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.49.68

UK Pound

1

Rs.78.17

Euro

1

Rs.65.52

 

 

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.