|
Report Date : |
10.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
HAMZA HAMEED & COMPANY |
|
|
|
|
Registered Office : |
St. No.31, Suite No.14, Australia Masjid, Building Mcleod Road,
Railway Station |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of Establishments: |
2001 |
|
|
|
|
Legal Form : |
Proprietorship Concern |
|
|
|
|
Line of Business : |
trading of Generators, Commodities & Chemicals |
|
|
|
|
No. of Employees : |
02 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 |
HAMZA HAMEED &
COMPANY
|
Registered
Address |
|
St. No.31, Suite No.14, Australia Masjid, Building Mcleod Road,
Railway Station, Lahore, Pakistan |
|
Tel # |
+923004740969 |
|
Fax # |
--- |
|
Email |
|
a. |
Nature of
Business |
Engaged in
trading of Generators, Commodities & Chemicals |
|
b. |
Year Established |
2001 |
Subject Concern was established as a
Proprietorship business in 2001
|
Names |
Address |
Occupation |
Designation |
|
Mr. Farhan Ali |
St.
No.31, Suite No.14, Australia Masjid, Building Mcleod Road, Railway Station,
Lahore |
Business |
Proprietor |
A. Subsidiary
None
B. Associated
Companies
- Do -
Engaged in Trading of Generators, Commodities & Chemicals
2
(In Pak Rupees)
PKR 2,000,000/- (Estimated)
(Foreign)
Subject mainly import from Companies belongs to China & India
Mainly Retailers, Individuals located in Lahore
· Habib Bank Limited, Pakistan.
Silk
Bank Limited, Pakistan.
The
Bank of Punjab, Pakistan.
We visited the office of the concern where following observations were
made:
(1) Name Board of the
Concern could not be sighted at the time of our visit.
(2) The concern’s office is
difficult to locate.
(3) Subject is located in a
commercial area of Lahore.
(4) Items such as Telephones could not be
seen at the concern’s office.
(5) Subject office is not
maintained properly.
Subject operates from rented office premises which are situated at
commercial area of Lahore.
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 98.90 |
|
UK Pound |
1 |
Rs. 148.50 |
|
Euro |
1 |
Rs. 126.50 |
Concern looks very small sized and it seems that the main business of the concern is trading. From market sources no information is available, as the concern has not enough presence in the market. As per our observation the concern is not very active in the business circle. Trade relations are not known. Therefore we do not recommend conducting any business activity with the subject concern.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.46 |
|
UK Pound |
1 |
Rs.83.13 |
|
Euro |
1 |
Rs.70.99 |
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.