|
Report Date : |
20.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
HAMZA HAMEED
& COMPANY |
|
|
|
|
Registered Office : |
St. No.31, Suite No.14, Australia Masjid, Building Mcleod Road,
Railway Station, Lahore |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
2001 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Subject is engaged in trading of Generators,
Commodities & Chemicals |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 |
HAMZA HAMEED &
COMPANY
|
Registered
Address |
|
St. No.31, Suite No.14, Australia Masjid, Building Mcleod Road,
Railway Station, Lahore, Pakistan |
|
Tel # |
+923004740969 |
|
Fax # |
--- |
|
Email |
|
a. |
Nature of
Business |
Engaged in trading of Generators,
Commodities & Chemicals |
|
b. |
Year Established |
2001 |
Subject Company was established as a
Proprietorship business in 2001
|
Names |
Address |
Occupation |
Designation |
|
Mr. Farhan Ali |
St. No.31, Suite No.14, Australia Masjid, Building Mcleod Road, Railway
Station, Lahore |
Business |
Proprietor |
Subsidiary
None
Associated Companies
- Do -
Engaged in Trading of Generators, Commodities
& Chemicals
2
|
PKR 2,000,000/- (Estimated) |
Subject mainly import from Companies belongs
to China & India
Mainly Retailers, Individuals located in
Lahore
Habib Bank Limited, Pakistan.
Silk Bank Limited, Pakistan.
(3) The Bank of Punjab, Pakistan.
We visited the office of the concern where following observations were
made:
(1) Name Board of the
Company could not be sighted at the time of our visit.
(2) The concern’s office is
difficult to locate.
(3) Subject is located in a
commercial area of Lahore.
(4) Items such as Telephones
could not be seen at the concern’s office.
(5) Subject office is not
maintained properly.
Subject operates from rented office premises which are situated at
commercial area of Lahore.
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 98.90 |
|
UK Pound |
1 |
Rs. 148.50 |
|
Euro |
1 |
Rs. 126.50 |
Company looks very small sized and it seems that the main business of
the company is trading. From market sources no information is available, as the
company has not enough presence in the market. As per our observation the
company is not very active in the business circle. Trade relations are not
known. Therefore we do not recommend conducting any business activity with the
subject Company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
|
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.