|
Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
INNOVATIVE SOLUTIONS |
|
|
|
|
Registered Office : |
17- Lawrence Road, Lahore |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of Establishment : |
2006 |
|
|
|
|
Legal Form : |
Partnership Concern |
|
|
|
|
Line of Business : |
Import & Distribution of
Transparencies, in glass or organic materials |
|
|
|
|
No. of Employees : |
12 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
INNOVATIVE SOLUTIONS
Registered
Address
|
|
17- Lawrence Road, Lahore,
Pakistan |
|
Tel # |
92 (42) 36369618, 36369619 |
|
Fax # |
92 (42) 36369620 |
|
a. |
Nature of Business |
Import & Distribution of Transparencies,
in glass or organic materials |
|
b. |
Year Established |
2006 |
|
c. |
National Tax # |
3077505 - 1 |
None
Subject Concern was established as a Partnership business in 2006
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Mohsin Javed Mrs. Mohsin Javed |
Pakistani Pakistani |
|
Business Business |
Managing Partner Partner |
(1) F.M. Traders, Pakistan.
Subject Concern is engaged in import & distribution of Transparencies, in glass or organic materials,
Local sales are mostly on cash / credit terms basis.
Payments would be made through L/C, D/A basis.
It’s mainly import from U.S.A., France, China, Singapore, Australia & Canada.
Its’ major customers are Private Companies, Trading Companies etc.
Subject operates from caption leased office premises situated at main commercial area of Lahore.
Subject employs about 12 persons in its set up.
|
Year |
In Pak Rupees |
|
2011 |
40,000,000/- (Estimated) |
(Foreign)
(1) SAINT GOBAIN SULLY,
(2) FORCE PRODUCTS GROUP,
(3) SAINT GOBAIN
STRUCTURAL CERAMICS CORP, U.S.A.
(1) Soneri Bank Limited,
Pakistan.
(2) Bank Alfalah Limited, Pakistan.
(3) Faysal Bank Limited, Pakistan.
(4) Habib Bank Limited, Pakistan.
·
Lahore Chamber of Commerce & Industry.(LCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 95.30 |
|
UK Pound |
1 |
Rs. 153.10 |
|
Euro |
1 |
Rs. 123.30 |
Subject Concern was established
in 2006 and is engaged in import & distribution
business. 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.51.62 |
|
UK Pound |
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.