|
Report Date : |
29.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASIF BROTHERS
|
|
|
|
|
Registered Office : |
P/80, Ghalla Mandi, Dijkot Road, Faisalabad |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of Establishment : |
1992 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Import & Trading of Commodities Palm
Oil, Chemicals |
|
|
|
|
No. of Employees : |
5 |
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 – 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 |
Registered Address
|
|
P/80, Ghalla Mandi, Dijkot Road, Faisalabad, Pakistan |
|
Tel # |
92
(41) 2602285,
2632023 |
|
Fax # |
92
(41) 2632023 |
|
a. |
Nature of Business |
Import & Trading of Commodities Palm
Oil, Chemicals |
|
b. |
Year Established |
1992 |
None
Subject Company was established as a Proprietorship business in 1992
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Asif |
Pakistani |
P/80,
Ghalla Mandi, Dijkot Road, Faisalabad |
Business |
Proprietor |
None
Subject Company is engaged in import
& trading of Commodities Palm Oil, Chemicals.
Local sales are mostly on cash / credit terms basis.
It’s mainly import from China,
Germany, Italy, Thailand, U.A.E., India, Portugal, Ukraine, Australia &
Canada.
Its’ major customers are Traders, Private Companies, Individuals etc
Subject operates from caption leased shop premises of area measuring 700
Sq.ft. which is situated at main commercial market of Faisalabad.
Subject employs about 5
persons in its set up.
|
Year |
In Pak Rupees |
|
2011 |
22,000,000/- (Estimated) |
Subject mainly import from Companies belongs to China, Germany, Italy, Thailand, U.A.E., India, Portugal, Ukraine,
Australia & Canada
|
(1) United Bank Limited, Pakistan. (2) Bank Alfalah Limited, Pakistan. (2) Allied Bank Limited, Pakistan. |
·
Faisalabad Chamber of Commerce & Industry.(FCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 98.30 |
|
UK Pound |
1 |
Rs. 157.00 |
|
Euro |
1 |
Rs. 131.00 |
Subject Company was established in 1992 and is engaged in import & trading of Commodities Palm Oil & Chemicals. Trade relations are
reported as fair. 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.53.89 |
|
UK Pound |
1 |
Rs.84.92 |
|
Euro |
1 |
Rs.72.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.