MIRA INFORM REPORT

Report Date :

20.07.2013

IDENTIFICATION DETAILS

Name :	R H GANI

Registered Office :	574/1, Rampart Row, Near Khori Garden, Bombay Bazar, Karachi

Country :	Pakistan

Year of Establishments:	1989

Legal Form :	Partnership Concern

Line of Business :	Importing, Indenting & Trading of Chemicals, Synthetic Rayon, Dyes & Pigments

No. of Employees :	10

RATING & COMMENTS

MIRA’s Rating :

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:

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ECGC Country Risk Classification List – March 31^st 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Pakistan

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

R H GANI

Full Address

Registered Address

574/1, Rampart Row, Near Khori Garden, Bombay Bazar, Karachi, Pakistan

Tel #	92 (21) 32413638
Fax #	92 (21) 32416951
Email	gtltd@khi.compol.com

Short Description Of Business

a.	Nature of Business	Import, Indenting & Trading of Chemicals, Synthetic Rayon, Dyes & Pigments
b.	Year Established	1989
c.	National Tax #	0670567

Branches

In Karachi, Lahore & Multan

Legal Status

Subject Concern was established as a Partnership business in 1989

Details of Managing Partner / Partners

Names

Nationality

Address

Occupation

Designation

Mr. Peer Mohammad Diwan

Mr. Abdul Razzak Diwan

Mr. Usman Bilwani

Pakistani

574/1, Rampart Row, Near Khori Garden, Bombay Bazar, Karachi

Business

Managing Partner

Partner

Associated Companies

(1) Gani & Tayub (Pvt.) Ltd, Pakistan.

(2) Gatron (Industries) Ltd, Pakistan.

(3) Novatex Limited, Pakistan.

(4) Krystalite Products (Pvt.) Ltd, Pakistan.

(5) Mushtaq & Co. (Pvt.) Ltd, Pakistan.

(6) Muskanit Industries, Pakistan.

(7) Bonanza Garments Industries (Pvt.) Ltd, Pakistan.

(8) Bonanza Apparel (Pvt.) Ltd, Pakistan.

(9) Mushtex Weavers, Pakistan.

(10) Mustaqim Dyeing & Printing Industries (Pvt.) Ltd, Pakistan.

Business Activities

Subject Concern is engaged in the business as import, indenting & trading of Chemicals, Synthetic Rayon, Dyes & Pigments.

It purchases raw material against L/C, D/A basis.

It sells against Cash / Credit terms.

It’s mainly import from China, Korea, Singapore, India, U.K., Korea, Thailand.

Its major customers are Associated Companies, Trading Companies, Manufacturing Concerns etc.

Subject operates from caption leased shop premises of area measuring 2,000 Sq.ft., which is situated in commercial market in Jodia Bazar.

Subject employs about 10 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2011	100,000,000/- (Estimated)

Trade Suppliers

(Foreign)

· ZHAOZHUANG FENGYUAN CHEMICAL CO. LTD, CHINA.

· INNER MONGOLIA YILI SCIENCE AND TECHNOLOGY IND. CO, CHINA.

· SAUDI BASIC INDUSTRIES CORPORATION, SAUDI ARABIA.

· NATIONAL PETROCHEMICAL, SAUDI ARABIA.

Bankers

· Habib Metropolitan Bank Limited, Pakistan.

· Habib Bank Limited, Pakistan.

· Bank Alfalah Limited, Pakistan.

· ABN AMRO Bank, Pakistan.

· Faysal Bank Limited, Pakistan.

· Standard Chartered Bank, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 102.75
UK Pound	1	Rs. 155.00
Euro	1	Rs. 134.50

Comments

Subject Concern was established in 1989 and is engaged in import, indenting & trading of Chemicals, Synthetic Rayon, Dyes & Pigments. Group reputation is good in the local businesses. 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.59.79
UK Pound	1	Rs.91.03
Euro	1	Rs.78.52

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%)

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