MIRA
INFORM REPORT
|
Report Date : |
22.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
DHIRANI TRADING
COMPANY |
|
|
|
|
Registered Office : |
237, 2nd Floor,
Al-Rehman Trade Centre, Shahrah-e-Liaquat, New Challi, Karachi |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
1995 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Subject is engaged in import, export & trading of
Commodities, Agricultural Products. |
|
|
|
|
No. of Employees : |
5 persons |
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
DHIRANI TRADING
COMPANY
Full Address
|
Registered Address |
|
237, 2nd Floor, Al-Rehman Trade Centre, Shahrah-e-Liaquat, New Challi,
Karachi, Pakistan |
|
Tel # |
92 (21) 32443516, 32443517, 35655881,
35655882, +923022988368 |
|
Fax # |
92 (21) 32443517 |
|
Email |
Short Description Of Business
|
a. |
Nature of Business |
Engaged in
import, export & trading of Commodities, Agricultural Products |
|
b. |
Year Established |
1995 |
|
c. |
National Tax # |
0897141 - 2 |
Branches
None
Legal Status
Subject Company was established as a
Proprietorship business in 1995
Details of Proprietor
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Shankar Lal Dhirani |
Pakistani |
237, 2nd Floor, Al-Rehman Trade Centre, Shahrah-e-Liaquat,
New Challi, Karachi |
Business |
Proprietor |
Associated Companies
|
None |
Business Activities
Subject Company is engaged in import, export & trading of Commodities,
Agricultural Products.
Local sales are mostly on cash / credit
terms basis to its local customers.
It’s mainly import from China, Singapore, Thailand, Vietnam, Portugal, Ukraine & India.
Its major customers are Traders located at
Jodia Bazar, Kagzi Bazar, New Challi Anaaj Mandi & North Napier Market of
Karachi.
Subject operates from caption leased office
premises of area measuring 500 Sq.ft. which is situated at commercial market of
Karachi.
Subject employs about 5 persons in its set
up.
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2011 |
28,000,000/- (Estimated) |
Trade Suppliers (Foreign)
|
Subject mainly import from Companies
belongs to China, Singapore, Thailand,
Vietnam, Portugal, Ukraine & India |
Bankers
|
(1) Askari Bank
Limited, Pakistan. (2) MCB Bank
Limited, Pakistan. (3) Bank Alfalah
Limited, Pakistan. (4) Bank Al-Habib
Limited, Pakistan. |
Memberships
Karachi Chamber of Commerce & Industry.(KCCI)
Karachi Wholesale
Grocers Association.(KWGA)
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani
Rupee |
|
US Dollar |
1 |
Rs. 108.10 |
|
UK Pound |
1 |
Rs. 172.25 |
|
Euro |
1 |
Rs. 143.75 |
Comments
Subject Company was established in 1995 and
is engaged in import, export & trading business. Overall reputation is
satisfactory. 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.62.89 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.84.42 |
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.