|
Report Date : |
27.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
KAIM KHANI ENTERPRISE (KKE) |
|
|
|
|
Registered Office : |
Suite No.507, 5th Floor Al Rehmat Trade Center, Opp. City Court Dandia
Bazar Karachi |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of Establishments: |
2009 |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
Partnership Concern |
|
|
|
|
Line of Business : |
Trader of Pulses & Rice |
|
|
|
|
No. of Employees : |
05 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
|
Business Name |
Kaim Khani Enterprise (KKE) |
|
Address |
Head Office: Suite No.507, 5th Floor Al Rehmat Trade Center, Opp. City Court Dandia
Bazar Karachi. |
|
Telephone |
(+92) (21) 32773209 |
|
Fax |
(+92) (21) 32766666 |
|
Email |
|
|
Website |
None |
|
Business
activities |
Trader of Pulses & Rice |
KKE is a PARTNERSHIP firm, to operate an AOP registration is not
mandatory.
|
Registration
Number |
None |
|
Date of
Registration |
N/A |
Other registry & certification details:
|
Current Legal
Form |
Partnership |
|
National Tax
Registration Number |
Not disclosed |
|
Date of
Registration |
Not Disclosed |
|
GST Registration
Number |
Not Disclosed |
|
Date of
Registration |
Not Disclosed |
|
Chamber of
Commerce & Industry |
Undetermined |
|
ISO
Certification |
None |
|
Other
certifications |
None |
|
Type |
No. of Shares |
Par Value |
Total Value |
|
Authorized |
N/A |
||
|
Issued,
Subscribed & Paid-Up |
|||
|
Who started |
Ramesh Kumar Manglani |
|
When started |
2009 |
|
Change in
management |
No change |
|
Year of change |
N/A |
|
Change in legal
status |
No change |
|
Year of change |
N/A |
|
Change in
business name |
No change |
|
Year of change |
N/A |
(SPONSORS)
|
Name |
Profit/Loss Sharing Ratio |
Nationality |
Appointment Date (Last) |
|
Mr. Ramesh Kumar Manglani |
50% |
Pakistani |
Undetermined |
|
Mr. Waqas Karim |
50% |
Pakistani |
Undetermined |
|
Name |
Position in organization |
Qualification |
Years in
employment |
|
Mr. Ramesh Kumar Manglani |
Managing Partner |
Undetermined |
Undetermined |
|
Mr. Mahesh Raja Manglani |
Manager |
Undetermined |
Undetermined |
|
Statutory offices |
Name of service
provider |
|
Statutory Auditors |
Not Appointed |
|
Legal Advisory Services |
Not Appointed |
|
Bank name |
Approved
financing limits |
|
United Bank Ltd |
Depository relation |
|
Bank Alfalah Ltd |
Depository relation |
|
Askari Bank Ltd |
Depository relation |
|
Faysal Bank Ltd |
Depository relation |
|
Habib Metro Bank Ltd |
Depository relation |
|
Standard Chartered Bank (Pakistan) Limited |
Depository relation |
The core business focus of KKE is Trader
of Pulses & Rice. KKE is exporting fine quality rice to different
countries including India, Turkey, Africa and Kenya as well it has a very good
market in Pakistan itself. As far as Pulses are concerned the major market for
KKE is local market which includes major markets of Sindh and Punjab.
|
Imports from |
Australia, Canada and Indonesia (Pulses) |
|
Importing terms |
CAD |
|
Local (%) |
Rice 100% |
|
Local buying
terms |
Cash and Credit of 30-45 days |
|
Exports to |
India, Turkey, Africa Countries (Rice) |
|
Exporting terms |
L/C & CAD |
|
Local (%) |
Pulses 100 (Sindh – Punjab) |
|
Local selling
terms |
Cash and Credit of 30 Days |
|
Nature
of employment |
Current
Year |
Previous
Year |
|
All Staff |
05 |
05 |
|
Total |
05 |
05 |
|
Head office
Address Owned / Rented Area (approx) |
Suite No.507, 5th Floor Al Rehmat Trade Center, Opp. City Court Dandia
Bazar Karachi. Undetermined 200 sq.feet (approx) |
Two (02) wholesalers
(Customers) and five (05) suppliers were contacted to get
a feedback about KKE, its products and sponsors. All the feedback ware found
Satisfactory and no disputes or untoward events including complaints about
quality of products were reported/ identified during inquiry.
|
Business Name |
City |
Line
of Business |
Percentile
of Shareholding |
|
Mast Qalander Traders |
Karachi |
Same |
Undetermined |
|
Contact person |
Mr. Mahesh Raja Manglani |
|
Position |
Manager |
|
Contact Person
Comments |
Mr. Mahesh Raja Manglani confirmed
business operations and business information however; he declined to share financial
information. |
|
Analyst’s
Observations/ comments |
i)
The office was comprised of one air-conditioned
room, with two computers and average furniture. ii)
Two employees were observed working in the
office. iii)
Samples of Pulses were observed at the time of
physical visit. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.45 |
|
UK Pound |
1 |
Rs.100.86 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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.