|
Report Date : |
27.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
DATA IMPEX (DI) |
|
|
|
|
Registered Office : |
H – 1275 Akbari Mandi Lahore |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
17.11.2001 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Trading of Grains, Spices, Herbs and dry Fruits. |
|
|
|
|
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 |
|
Business Name |
DATA IMPEX (DI) |
|
Address |
Head Office /
Registered Office: H – 1275 Akbari Mandi Lahore |
|
Telephone |
(+92) (42) 37661599 |
|
Fax |
(+92) (42) 37669738 |
|
Mobile |
(+92) (321) 4179004 (+92) (322) 5222215 Mr. M.Yasir- CEO |
|
Email |
|
|
Website |
None |
|
Business activities |
Trading of Grains, Spices, Herbs and dry Fruits. |
Registry Details
DI is a proprietorship concern, registration with any regulatory body is
not mandatory.
|
CRO Registration Number |
N/A |
|
Date of Registration |
Other registry
& certification details:
|
Current Legal Form |
Proprietorship |
|
National Tax Registration Number |
1319436-4 |
|
Date of Registration |
November 17, 2001 |
|
GST Registration Number |
0399999949973 |
|
Date of Registration |
November 27, 2001 |
|
Chamber of Commerce & Industry |
The Lahore Chamber of Commerce & Industry |
|
Date of Registration |
April 20, 2008 |
|
ISO Certification |
None |
|
Date of Registration |
N/A |
|
Other certifications |
None |
|
Date of Registration |
N/A |
History
|
Who started |
Mr. M. Bashir |
|
When started |
1982 |
|
Change in management |
Mr. M. Yasir |
|
Year of change |
2001 |
|
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. Muhammad Yasir |
100% |
Pakistani |
Not Provided |
|
Name |
Position in organization |
Qualification |
Years in
employment |
|
Mr. Gulzar Bashir |
Operational Manager |
Matriculation |
Since 1995 |
|
Mr. Mudassir Bashir |
Accountant |
B.com |
Since 2001 |
|
Statutory offices |
|
|
Statutory Auditors |
Not Disclosed |
|
Legal Advisory Services |
M/s Butt and Company |
|
Bank name |
Approved
financing limits |
|
Summit Bank Ltd |
Not Provided |
The prime focus of the company is trading if Rice, Spices, Herbs, Dry
fruit and Pulses. DI import its products from different countries such as India
China and Thailand while some of the products are also purchased from local
market. Sales of DI is completely based in Pakistan with products sold in all
the major markets of the country. The location is good for this kind of
business and the company itself plans to expand in the future.
Purchases (Incl.
Imports)
|
Imports from |
UAE, India, Indonesia, China, Thailand, Vietnam |
|
Importing terms |
LC |
|
Local (%) |
20% |
|
Local buying terms |
30 days cash & credit |
Sales (Incl.
Exports)
|
Exports to |
None |
|
Exporting terms |
N/A |
|
Local (%) |
100% |
|
Local selling terms |
45 days cash & credit |
|
Nature of
employment |
Current Year |
Previous Year |
|
All Staff |
10 |
10 |
|
Total |
10 |
10 |
|
Head office Address Owned / Rented Area (approx) |
H-1275, Akbari Mandi, Lahore, Punjab, Pakistan. Stated to be Owned. 500 Sq/f |
|
Factory Address Owned / Rented Area (approx) |
None |
|
Warehouse Address Owned / Rented Area (approx) |
H -1190, Akbari Mandi Lahore, Punjab,
Pakistan. Stated to be Owned 750 Sq/f |
We contacted various customers, neighbors and
competitors of DI they told us that DI is one of the better players of the
market and holds a good reputation locally, during inquiry we got to know that the
company is not involved in any negative activities and we did not came across
any complaints or untoward activities.
|
Business Name |
City |
Line of Business |
Percentile of
Shareholding |
|
None |
|||
The contact person decline to share financial information.
|
Contact person |
Mr. M. Yasir |
|
Position |
C.E.O |
|
Comments |
Contact person confirmed the business operations of the subject however
declined to provide any further information. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.98 |
|
|
1 |
Rs.101.49 |
|
Euro |
1 |
Rs.84.79 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.