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Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
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Name : |
AMNA INDUSTRIES (PVT) LIMITED |
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|
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Registered Office : |
3rd Floor, Karachi Dock Labour Board Building,
58 West Wharf Road, Karachi |
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Country : |
Pakistan |
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Year of Establishments: |
2003 |
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Com. Reg. No.: |
0046056 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
manufacture & export of Textile Products |
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No. of Employees : |
380 |
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 |
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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 (31.03.2012) |
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 under 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 almost 12%
for 2011, before declining to 10% in 2012. 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 fiscal year 2012, 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 about 3% per year from 2008 to 2012.
Pakistan must address long standing issues related to government sales and
energy production in order to spur the amount of economic growth that will be
necessary to employ its growing and rapidly urbanizing population, more than
half of which is under 22. Other long term challenges include expanding
investment in education and healthcare, adapting to the effects of climate
change and natural disasters, and reducing dependence on foreign donors.
|
Source : CIA |
AMNA INDUSTRIES (PVT) LIMITED
|
Registered Address |
|
3rd Floor, |
|
Tel # |
92 (21) 32313036, 32313031 |
|
Fax # |
92 (21) 32310625 |
|
Email |
|
Nature of Business |
Engaged in manufacture & export of Textile Products |
|
Year Established |
2003 |
|
Registration # |
0046056 |
H/T/3, Landhi Industrial
Area,
Karachi, Pakistan
M/s Hyder Bhimji & Co.
(Chartered
Accountants)
2nd Floor, Standard Insurance House, I.I.
Chundrigar Road, Karachi, Pakistan
Subject Company was established as a Private Limited Company
in 2003
|
Authorized Capital |
Rs. 200,000,000/-
divided into 20,000,000 shares of Rs. 10/- each |
|
Issued & Paid up Capital |
Rs. 180,000,000/-
divided into 18,000,000 shares
of Rs. 10/- each |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Afzal Umer Mr. Umer Haji Karim Mr. Ahmed Ebrahim Mr. Sajid Haji Haroon Mr. Noman Yakoob |
Pakistani Pakistani Pakistani Pakistani Pakistani |
3rd
Floor, 3rd
Floor, 3rd
Floor, 3rd
Floor, 3rd
Floor, |
Business Business Business Business Business |
Chief Executive Director Director Director Director |
|
Categories |
Shareholding (%) |
|
Individuals Associated Companies Chief Executive, Directors, Spouses, relatives and minor
children |
--- 20 80 |
A. Subsidiary
None
B. Associated Companies
· Al-Karam Textile Mills (Pvt) Limited.
· Sattar (Pvt) Limited.
· Dhabeji Salt Works Pvt Ltd.
· Farooqi Food Industries.
· Gul Agencies Pvt Ltd.
· Haji Karim Haji Mohammad.
· Iqbal Textile Mills Ltd.
· Imran Crown Cork Pvt Ltd.
· Muslim Cotton Mills Ltd.
·
Orient Textile Mills Ltd.
·
Pakistan Dairy Products Ltd.
·
Zaman Textile Mills Ltd.
·
Thermo King Pvt Ltd.
Subject Company is engaged in manufacture & export of Textile Products.
Its mainly import Textile Raw Materials, Textile Machineries through D/A, D/P basis.
Its brand names are SHABNAM,
CHANCELLOR, IGLOO, SUPER COT AL-KARAM.
It sells its product through Cash, L/C, T.T. basis (In case of Export).
Its main customers are Individuals, Reputable Companies, Worldwide.
Subject operates from caption leased office premises measuring 2,200 Sq.ft. which is situated in commercial area.
Subject employs more than 380 persons in its set up.
|
Year |
In Pak Rupees |
|
2011 |
600,000,000/- (Estimated) |
Daily 63 Tons Of Cotton & Blended Yarn, 17534 Fabric, 50000 Mt Dyeing, 60000 Mt Printing,116666 Mt Fi
(1) Habib Bank Limited,
(2) Habib Metropolitan
Bank Limited, Pakistan.
(3) Standard Chartered
Bank, Pakistan.
(4) Faysal Bank Limited,
Pakistan.
(5) Askari Commercial
Bank Limited, Pakistan.
·
Karachi Chamber of Commerce & Industry.(KCCI)
·
All Pakistan Textile Mills Association.(APTMA)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 99.00 |
|
|
1 |
Rs. 148.50 |
|
Euro |
1 |
Rs. 128.00 |
Subject Company was established in 2003 and is engaged in manufacture & export of Textile Products. Market reputation is good. Trade relations are reported as fair. Company can be considered for normal business dealings at usual trade terms and conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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.