|
Report Date : |
29.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHEMI COLOUR TRADING CO. |
|
|
|
|
Registered Office : |
M.R 4/47, 1st Floor, Chemi
Centre, Adamjee Dawood Road, Bombay Bazar, Karachi |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of Establishments: |
1956 |
|
|
|
|
Legal Form : |
Partnership Concern |
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|
|
|
Line of Business : |
Import and Trading of Chemical & Chemical Compounds,
Dyes & Chemicals, Dyes, Dyestuffs & Pigments, Textiles Auxiliaries |
|
|
|
|
No. of Employees : |
10 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 revenues 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 |
CHEMI COLOUR TRADING CO.
|
Registered Address |
|
M.R 4/47, 1st Floor,
Chemi Centre, |
|
Tel # |
92 (21) 32410832,
32410833, 32410830 |
|
Fax # |
92 (21) 32440614,
32414904 |
|
Email |
|
a. |
Nature of Business |
Import and
Trading of Chemical & Chemical Compounds, Dyes & Chemicals, Dyes,
Dyestuffs & Pigments, Textiles Auxiliaries. |
|
b. |
Year Established |
1956 |
|
c. |
National Tax #s |
2487198 |
In Lahore & Multan
Subject Concern was established as a Partnership business in 1956
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Abdul Rashid Mr. Abdul Ghafoor Khatri Mr. Muhammad Siddiq Mr. Muhammad Noor Abdul Shakoor Mr. Abdul Rahim Mr. Abdul Rauf |
Pakistani Pakistani Pakistani Pakistani Pakistani Pakistani |
M.R 4/47, 1st Floor, Chemi Centre, M.R 4/47, 1st Floor, Chemi Centre, M.R 4/47, 1st Floor, Chemi Centre, M.R 4/47, 1st Floor, Chemi Centre, M.R 4/47, 1st Floor, Chemi Centre, M.R 4/47, 1st Floor, Chemi Centre, |
Business Business Business Business Business Business |
Managing Partner Partner Partner Partner Partner Partner |
(1) Chhipa Enterprises,
Pakistan.
Subject Concern is engaged in the business as import & trading of Chemical & Chemical Compounds, Dyes & Chemicals, Dyes, Dyestuffs & Pigments, Textiles Auxiliaries.
It sells against Cash or Credit terms.
It’s mainly import from Europe, India & China.
Its major customers are Retailers, Traders, Textile Companies, Garment Factories in major cities like Faisalabad, Lahore, Karachi & Multan.
Subject operates from caption leased office premises of area measuring 1,675 Sq.ft which is situated in commercial area.
Subject employs about 10 persons in its set up.
|
Year |
In Pak Rupees |
|
2011 |
75,000,000/- (Estimated) |
(Foreign)
·
YORKSHIRE CHEMICALS PLC,
· DYSTAR TEXTILEFARBEN GMBH, GERMANY.
· THAI AMBICA CHEMICALS CO. LTD. THAILAND.
· JAY CHEMICAL INDUSTRIES LTD. INDIA.
· ALVA CHEMICAL CONCERN , THAILAND
·
MCB Bank Limited,
· Habib Metropolitan Bank Limited, Pakistan.
· Bank Alfalah Limited, Pakistan.
· Soneri Bank Limited, Pakistan.
· Karachi Chamber of Commerce & Industry.(KCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 99.80 |
|
UK Pound |
1 |
Rs. 152.00 |
|
Euro |
1 |
Rs. 128.85 |
Subject Concern was established in 1956 and is engaged in import and trading of Chemical & Chemical Compounds, Dyes & Chemicals, Dyes, Dyestuffs & Pigments, Textiles Auxiliaries. Trade relations are reported as fair. Payments to creditors etc are reported as normal. 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.54.29 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.68 |
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.