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Report Date : |
05.11.2012 |
IDENTIFICATION DETAILS
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Name : |
POWER HOUSE (PVT) LIMITED |
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Registered Office : |
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Country : |
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Year of Establishment : |
2004 |
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Com. Reg. No.: |
0047505 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in import
& distribution of Electrical & Electronic Products, High Quality
Lights and World Class Building Materials. |
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No. of Employees : |
40 |
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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 |
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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 |
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
POWER HOUSE (PVT) LIMITED
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Registered
Address |
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Suite # 611, 6th Floor, The Forum, G-20, Block-9,
Khayaban-e-Jami, Clifton, |
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Tel # |
92 (21) 35360970, 35360971 |
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Fax # |
92 (21) 35360974 |
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a. |
Nature of Business |
Engaged in import & distribution
of Electrical & Electronic Products, High Quality Lights and World Class
Building Materials. |
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b. |
Year Established |
2004 |
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c. |
Registration # |
0047505 |
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In Lahore, Rawalpindi & Karachi |
|
BDO Ebrahim & Co. (Chartered
Accountants) 2nd Floor, Block C, Lakson Square
Building No. 1, Sarwar Shaheed Road, Karachi, Pakistan |
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Subject Company was established as a Private Limited Company in 2004 |
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Authorized Capital |
Rs. 10,000,000/- divided into 100,000 shares
of Rs. 100/- each |
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Issued & Paid up Capital |
Rs. 2,100,200/- divided into 21,002
shares of Rs. 100/- each |
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Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Pervez Haroon Madraswala Mrs. Rozina Pervez |
Pakistani Pakistani |
Suite # 611, 6th
Floor, The Forum, G-20, Block-9, Khayaban-e-Jami, Clifton, Suite # 611, 6th
Floor, The Forum, G-20, Block-9, Khayaban-e-Jami, Clifton, |
Business Business |
Chief Executive Director |
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Names |
No. of Shares |
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Mr. Pervez Haroon Madraswala Mrs. Rozina Pervez |
10,501 10,501 |
A. Subsidiary
None
B. Associated
Companies
(1) Clipsal Pakistan
(Pvt) Limited, Pakistan.
Subject Company is engaged in import &
distribution of Electrical & Electronic Products, High Quality Lights and
World Class Building Materials.
It purchases against D/A, D/P basis.
It sells against Cash / Credit terms to its
local customers.
It’s mainly import from European Countries,
China, Canada, Australia, Singapore, Taiwan, Hong Kong, Japan & Korea.
Its major customers are Distributors,
Retailers, Wholesalers exist at major cities of Pakistan.
Subject operates from caption leased office
premises which is situated at commercial area of Karachi.
Subject employs about 40 persons in its set up.
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Year |
In Pak Rupees |
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2011 |
180,000,000/- (Estimated) |
Various international belongs to European Countries, China, Canada,
Australia, Singapore, Taiwan, Hong Kong, Japan & Korea
(1)
Habib Bank Limited,
Pakistan.
(2)
United Bank Limited,
Pakistan.
(3)
MCB Bank Limited,
Pakistan.
(4)
Faysal Bank Limited,
Pakistan.
(5)
Standard Chartered Bank,
Pakistan.
·
Karachi Chamber of Commerce & Industry.(KCCI)
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 95.75 |
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UK Pound |
1 |
Rs. 152.00 |
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Euro |
1 |
Rs. 123.10 |
Subject Company was established in 2004 and
is engaged in import &
distribution of Electrical & Electronic Products, High Quality Lights and
World Class Building Materials. 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
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Indian Rupees |
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US Dollar |
1 |
Rs.53.66 |
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|
1 |
Rs.86.37 |
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Euro |
1 |
Rs.69.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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<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.