|
Report Date : |
26.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
HORIZONS INTERNATIONAL (HI) |
|
|
|
|
Registered Office : |
837 B, Canal View Housing Society Thokar
Niaz Baig, Lahore, Punjab |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
07.11.1995 |
|
|
|
|
Legal Form : |
Proprietorship concern |
|
|
|
|
Line of Business : |
Traders of Chemical |
|
|
|
|
No. of Employees : |
07 |
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 : |
Slow but correct |
|
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
HORIZONS
INTERNATIONAL (HI)
|
Business Name |
HORIZONS INTERNATIONAL (HI) |
|
Address |
Head Office/ Registered Office: 837 B, Canal View Housing Society Thokar
Niaz Baig, Lahore, Punjab, Pakistan Inquiry
Address: 373-B,
Canal View Housing, Thokar Niaz Baig, Lahore |
|
Telephone |
(+92) (42) 35299837 |
|
Fax |
(+92) (42) 35294690 |
|
Mobile |
(+92) (300) 4329334 Mr. Muhammad Humair - Manager Sales & Marketing |
|
|
fsint_lhr@yahoo.com, rathoreandco@yahoo.com |
|
Website |
None |
|
Business activities |
Traders of Chemical (Importers) |
HI is a PROPRIETORSHIP Firm, registration with any regulatory authority is not mandatory.
|
CRO Registration Number |
N/A |
|
Date of Registration |
N/A |
Other registry &
certification details:
|
Current Legal Form |
Proprietorship concern |
|
National Tax Registration Number |
0192295-5 |
|
Date of Registration |
07-Nov-1995 |
|
GST Registration Number |
0305290017591 |
|
Date of Registration |
30-Jul-2007 |
|
Chamber of Commerce & Industry |
None |
|
Date of Registration & Expiry |
N/A |
|
ISO Certification |
None |
|
Date of Registration & Expiry |
N/A |
|
Other certifications |
None |
|
Date of Registration & Expiry |
N/A |
|
Type |
No. of Shares |
Par Value |
Total Value |
|
Authorized |
N/A |
||
|
Issued, Subscribed & Paid-Up |
|||
History
|
Who started |
Mohammad Zafar Syed |
|
When started |
1988 |
|
Change in management |
None |
|
Year of change |
N/A |
|
Change in legal status |
None |
|
Year of change |
N/A |
|
Change in business name |
None |
|
Year of change |
N/A |
|
Name |
Number of Shares |
Nationality |
Appointment Date
(Last) |
|
Mohammad
Zafar Syed |
100% |
Pakistani |
1988 |
|
Name |
Position in organization |
Qualification |
Years in employment |
|
Mohammad Humair Anwar |
Manager Sales & Marketing |
MBA (Marketing) |
08 years |
|
Iqbal Yousaf |
Finance Manager |
MBA (Finance) |
04 years |
|
Statutory offices |
Name of service
provider |
|
Statutory
Auditors |
Not
appointed |
|
Legal
Advisory Services |
Not
appointed |
|
Bank name |
Approved financing
limits |
|
Allied
Bank |
Depository Relation |
The Primary focus of HI is Trading of Chemical. Chemicals are currently being imported and sold in Pakistan.
Purchases (Incl. Imports)
|
Imports from |
Dubai, Germany, India and United Kingdom |
|
Importing terms |
Bank Contracts |
|
Local (%) |
Nil |
|
Local buying terms |
N/A |
Sales (Incl. Exports)
|
Exports to |
Nil |
|
Exporting terms |
N/A |
|
Local (%) |
100% |
|
Local selling terms |
Cash and Credit of 30 to 50 days |
|
Nature of
employment |
Current Year |
Previous Year |
|
All Staff |
07 |
05 |
|
Total |
07 |
05 |
|
Head office Address Owned / Rented Area (approx) |
837 B, Canal View Housing Society Thokar
Niaz Baig, Lahore. Rented 10 Marlas (Ground Floor) |
|
Factory Address Owned / Rented Area (approx) |
None N/A N/A |
|
Warehouse Address Owned / Rented Area (approx) |
None N/A N/A |
During the market check of “M/s. HORIZONS INTERNATIONAL”, we contacted various/ customers of the subject firm. In their opinion subject firm is a good player of the industry and enjoys good reputation in the market. Market sources further mentioned that” “M/s. HORIZONS INTERNATIONAL” is known as a profitable business in the industry.
|
Business Name |
City |
Line of Business |
Percentile of
Shareholding |
|
F.S International |
Lahore |
Indenting Services |
100% |
Business performance
could not be analyzed as the contact person declined to share financial
information.
|
Contact person |
Mr. Mohammad Humair Anwar |
|
Position |
Manager Sales and Marketing |
|
Comments |
The Contact Person confirmed operations and provided all business information. Mr. Mohammad Humair Anwar is working since last eight years. The inquiry address 373-B, Canal View Housing Thokar Niaz Baig Lahore is said to have been shifted to the existing location i.e. 837 B, Canal View Housing Society Thokar Niaz Baig, Lahore. But findings of internet searches show that another business namely ‘Hi-tech International’ is being operated from it with the same owner i.e. Mr. Muhammad Zafar Syed, however the contact person declined to comment on this matter.
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.58 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.70 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.