|
Report Date : |
07.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
IQRA BOOK AGENCY (IBA) |
|
|
|
|
Registered Office : |
Shop # 1, Tufail Chamber, 39-Muzang Road,
Lahore |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of Establishments: |
2009 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Trader of Imported and Local books in Lahore, Pakistan |
|
|
|
|
No. of Employees : |
07 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
TATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
--- |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Pakistan |
A2 |
A2 |
|
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 |
|
Business Name |
IQRA
BOOK AGENCY (IBA) |
|
Address |
Head Office /
Registered Office: Shop # 1, Tufail Chamber, 39-Muzang Road,
Lahore. |
|
Telephone |
(+92) (42) 7115137 |
|
Fax |
(+92) (42) 37115138 |
|
Mobile |
(+92) (300) 9414166/ (321) 4098541 Mr. Zaheer /Afsar |
|
Email |
|
|
Website |
None |
|
Business
activities |
Trading of Books |
IBA is a proprietary concern, registration with any regulatory body is
not mandatory.
|
CRO Registration
Number |
N/A |
|
Date of
Registration |
Other registry
& certification details:
|
Current Legal
Form |
Sole Proprietorship |
|
National Tax
Registration Number |
Not Provided |
|
Date of
Registration |
Not Provided |
|
GST Registration
Number |
Not Provided |
|
Date of
Registration |
Not Provided |
|
Chamber of
Commerce & Industry |
None |
|
Date of
Registration |
N/A |
|
ISO Certification |
None |
|
Date of
Registration |
N/A |
|
Other
certifications |
None |
|
Date of
Registration |
N/A |
|
Who started |
Mr. Zeeshan Khalid |
|
When started |
2009 |
|
Change in
management |
None |
|
Year of change |
N/A |
|
Change in legal
status |
None |
|
Year of change |
N/A |
|
Change in business
name |
None |
|
Year of change |
N/A |
|
Name |
Number of Shares |
Nationality |
Appointment Date (Last) |
|
Mr. Zeeshan
Khalid |
100% |
Pakistani |
2009 |
|
Name |
Position in organization |
Qualification |
Years
in employment |
|
Mr. Afsar |
Operational Manager |
F.A |
5 years |
|
Mr. Zaheer |
Sales Manager |
F.A |
4 years |
|
Statutory offices |
|
|
Statutory Auditors |
Not Appointed |
|
Legal Advisory Services |
Not Appointed |
|
Bank name |
Approved
financing limits |
|
Meezan Bank Ltd |
Not Disclosed |
IBA is a Trader of Imported and Local books in Lahore, Pakistan. Books
are imported from different parts of the world and then are sold locally, the concern
does not sale a specific type of books but holds a large variety of books. The
location of the concern is a prime one for this kind of business and we also
got to know that the concern holds a good market reputations and a good market
share.
|
Imports from |
India, UK and USA |
|
Importing terms |
LC |
|
Local (%) |
35% |
|
Local buying
terms |
Credit |
|
Exports to |
None |
|
Exporting terms |
None |
|
Local (%) |
100% |
|
Local selling
terms |
Not Disclosed |
|
Nature
of employment |
Current
Year |
Previous
Year |
|
All Staff |
07 |
07 |
|
Total |
7 |
7 |
|
|
||
|
Head office
Address Owned / Rented Area (approx) |
Shop # 1, Tufail Chamber, 39-Muzang Road,
Lahore. Rented 7 Marla |
|
Factory Address Owned / Rented Area (approx) |
None |
|
Warehouse
Address Owned / Rented Area (approx) |
None |
During the market check of IBA, we contacted various customers, competitors of the subject
firm. In their opinion subject firm is a good player of the industry and enjoys
good reputation in the market as well holds a good market share. Market sources
further mentioned that IBA is known as a profitable business in the industry and people
regards IBA as one of the better operators in the market.
|
Business Name |
City |
Line of Business |
Percentile of
Shareholding |
|
None |
|||
The contact person decline to share the financial information.
|
Contact person |
Mr. Zaheer |
|
Position |
Sales Manager |
|
Comments |
·
The Contact person / neighbors confirmed the
business operations of the subject but the contact person declined to provide
any financial information. ·
During physical visit we observed that Iqra Book
Agency was established in 2009 and engaged in imported books/trading
activities, however legal status of that entity was not confirmed. ·
IBA has a good setup suitable for trading of
books. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.67 |
|
UK Pound |
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
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.