MIRA INFORM REPORT

 

 

Report Date :

18.06.2013

 

IDENTIFICATION DETAILS

 

Name :

ARIF TRADERS

 

 

Registered Office :

Shop # H/1190, Main Bazar, Akbari Mandi, Lahore

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1993

 

 

Legal Form :

Partnership

 

 

Line of Business :

Import & Trading of Commodities, Dry Fruits & Spices

 

 

No. of Employees :

4

 

 

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

 

Company name

 

ARIF TRADERS

 

 

Full Address       

 

Registered Address

Shop # H/1190, Main Bazar, Akbari Mandi, Lahore, Pakistan

                       

Tel #

92 (42) 37652957, 37643257, +923219401220

Fax #

92 (42) 37643257

Email

ariftraders290@yahoo.com

 

 

Short Description Of Business

 

a.

Nature of Business       

Import & Trading of Commodities, Dry Fruits & Spices

b.

Year Established

1993

 

 

Branches

 

None

           

 

Legal Status

 

Subject Company was established as a Partnership business in 1993

 

 

Details of Management

 

Names

Nationality

Address

Occupation

Designation

Mr. Muhammad Asif

 

 

Mrs. Muhammad Asif

Pakistani

 

 

 

Pakistani

 

 

Shop # H/1190, Main Bazar, Akbari Mandi, Lahore

 

Shop # H/1190, Main Bazar, Akbari Mandi, Lahore

Business

 

 

 

Business

 

 

Managing Partner

 

 

Partner

 

 

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

Subsidiary

 

None                                                         

           

Associated Companies

 

- Do -

 

 

Business Activities

 

(1) Subject Company is engaged in import & trading of Commodities, Dry Fruits & Spices.

 

(2) Its mainly import through L/C, D/A basis.

 

(3) It mainly import from China, Thailand, Hong Kong, Vietnam, India, Portugal & U.A.E.

 

(4) Its major customers are Retail & Wholesale markets, Individuals etc

 

 

Number of Employees

 

4

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2011

10,000,000/- (Estimated)

 

 

Bankers

 

Soneri Bank Limited, Pakistan.

Habib Bank Limited, Pakistan.

Bank Alfalah Limited, Pakistan.

MCB Bank Limited, Pakistan.

 

 

Foreign Exchange Rates

           

Currency

 

Unit

Pakistani Rupees

US Dollar

1

          Rs. 99.55

UK Pound

1

          Rs. 153.75

Euro

1

          Rs. 131.50

 

 

Comments  

 

Subject Company was established in 1993 and is engaged in import & trading business. 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.57.73

UK Pound

1

Rs.90.61

Euro

1

Rs.76.96

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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%)