MIRA INFORM REPORT

Report Date :

07.05.2013

IDENTIFICATION DETAILS

Name :	Oxford University Press

Registered Office :	Plot No. 38, Sector 15, Korangi Industrial Area, P.O. Box 8214, Karachi-74900

Country :	Pakistan

Year of Establishment :	1975

Legal Form :	Partnership

Line of Business :	Importer / Stockiest & Distributors of Books related to Finance, Education, Science & Technology, Information Technology etc

No. of Employees :	180

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 :

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 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

Company Name

OXFORD UNIVERSITY PRESS

Full Address

Registered Address

Plot No. 38, Sector 15, Korangi Industrial Area, P.O. Box 8214, Karachi-74900, Pakistan

Tel #

92 (21) 35051522, 35051523

Fax #

92 (21) 35055071

Email

oxford@apollo.net.pk,

oxford@brain.net.pk

Short Description Of Business

a.	Nature of Business	Importer / Stockiest & Distributors
b.	Year Established	1975

Branches

Address	52-G, Gulberg III, Lahore, Pakistan
Tel #	92 (42) 35846231, 35846232
Fax #	92 (42) 35850357

Address	7, Shalimar Plaza, Jinnah Avenue, 99-West, Blue Area, Islamabad, Pakistan
Tel #	92 (51) 2822796, 2822795
Fax #	92 (51) 2277328

Legal Status

Subject Company was established as a Partnership business in 1975

Details of Management

Names

Nationality

Address

Designation

Mr. Muhammad Arshad

Mr. Mukaram M. A. Siddiqui

Mrs. Atika Mustafa

Pakistani

Plot No. 38, Sector 15, Korangi Industrial Area, Karachi

CEO

Director

Associates

Subsidiary

None

Associated Companies

None

Business Activities

Importer / Stockiest & Distributors of Books related to Finance, Education, Science & Technology, Information Technology etc

Staff Strength

180

Annual Sales Volume

Year	In Pak Rupees
2010 - 2011	150,000,000/- (Estimated)

Trade Suppliers (Foreign)

Subject Company represents more than 50 foreign publishers in Pakistan, based in UK, Europe, USA, Singapore & India etc.

Customers

Mainly Universities, Public & Private Libraries, Banks & DFI’s, Educational Institutes etc

Bankers

(1) Faysal Bank Limited, Pakistan.

(2) Standard Chartered Bank, Pakistan.

(3) Citibank N.A., Pakistan.

(4) Habib Bank Limited, Pakistan.

(5) Bank Alfalah Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 99.75
UK Pound	1	Rs. 153.00
Euro	1	Rs. 130.35

Comments

Subject Company was established in 1975 and is engaged in distribution & sale of International books. 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.53.95
UK Pound	1	Rs.84.03
Euro	1	Rs.70.72

INFORMATION DETAILS

Report Prepared by :

NIT

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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