MIRA INFORM REPORT

Report Date :

25.10.2013

IDENTIFICATION DETAILS

Name :	Nayab Pest Control Servies
Registered Office :	119 Ali Block, New Garden Town, Lahore,
Country :	Pakistan
Date of Incorporation :	1988
Legal Form :	Partnership firm
Line of Business :	Subject is termite control, fumigation, rodents (rat) control, garden & lawn treatment, landscaping, green houses and farm houses services, water proofing
No. of Employees :	30

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 31^st, 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

NOTE

In absence of financials, no credit limit could be recommended.

Company name and address

Nayab Pest Control Servies

GENERAL INFORMATION

Business Name	Nayab Pest Control Services (NPCS)
Address	119 Ali Block, New Garden Town, Lahore, Pakistan
Telephone	(+92) (42) 35842856-57
Fax	(+92) (42)
Mobile	(+92) (300) 4422468
Email	info@nayabpestcontrol.com
Website	www.nayabpestcontrol.com
Business activities	Termite Control, Fumigation, Rodents (Rat) Control, Garden & Lawn Treatment, Landscaping, Green Houses and Farm Houses Services, Water Proofing

Registry Details

The business is stated to be a PARTNERSHIP FIRM, which is stated to be established in 1988.

Other registry & certification details:

Current Legal Form	Partnership firm
National Tax Registration Number	Not disclosed
Date of Registration	Not disclosed
GST Registration Number	Not disclosed
Date of Registration & Expiry	Not disclosed
Chamber of Commerce & Industry	Not registered
Date of Registration & Expiry	--
ISO Certification (Certificates not seen)	ISO 9001:2008
Date of Registration & Expiry	--
Other certifications (Certificates not seen)	National Pest Management Association (USA), Canadian Pest Management Association, British Pest Control Association (UK) and Chamber of Commerce
Date of Registration & Expiry	--

Capital

Authorized	Not applicable
Issued, Subscribed & Paid-Up	Not applicable

History

Who Started	Partners
When Started	1988
Change in Management	No change
Year of change	N/A
Change in Legal Status	No change
Year of change	N/A
Change in Address	Yes. Its previous address was 3^rd Floor Central Plaza, Barkat Market, Lahore

PRINCIPALS (SPONSORS)

Name	Age	Nationality	Experience in related field
Muhammad Abbas Chaudhary	Not Provided	Pakistani	Not Provided
Maqsood Ahmed	Not Provided	Pakistani	Not Provided
Asrar Ahmed Bhatti	Not Provided	Pakistani	Not Provided
Zaka Mehmood	Not Provided	Pakistani	Not Provided

KEY MANAGEMENT

Name	Position in organization	Qualification	Years in employment
Muhammad Abbas Chaudhary	Managing Partner	(MSc. Eco.) MSc. Entomology Florida, USA	Served in Govt. & Private Sector
Dr. Maqsood Ahmed	Chief Advisor	Entomologist (PhD, MSc. Agriculture) Consultant for Pesticides.	Served USA Miami (USA) and Other Agri Sectors
Asrar Ahmed Bhatti	Marketing Director	Graduate in Commerce	25 Years
Zaka Mehmood	Partner	MSc. Plant Pathology	35 Years

DETAILS OF BUSINESS ACTIVITIES

NPCS is a Service Oriented Organization engaged in Termite Control, Fumigation, Rodents (Rat) Control, Garden & Lawn Treatment, Landscaping, Green Houses and Farm Houses Services, Water Proofing Services.

NPCS is stated to be registered with Plant Quarantine Department, Government of Pakistan, Ministry of Food, Agriculture and Livestock’s, Department of Plant Protection). It is stated that the company has the required equipment and skill set and branch network in Karachi, Lahore, Islamabad, Peshawar, Faisalabad, and Sahiwal.

Products:

Termite Control Fumigation MISC

Diapronil-TC (UK) Garsal (UK) Maste Pellets (Germany)

Peptachlor –TC (USA) Geothrin (UK) Tiger Powder (Holland)

Fiprocide – TC (KSA) Project EC (KSA) Rat Traps (USA)

Clopride – TC (KSA) Delta Force (KSA)

Subject firm also dealing in Thermal/ULV Fogging Machines sales and services.

Purchases (Incl. Imports)

Imports from	Poland, Spain and USA
Importing terms	LC
Local %	70%
Local buying terms	Cash and Credit

Sales (Incl. Exports)

Exports to	Nil
Exporting terms	N/A
Local %	100%
Local selling terms	Cash and Credit

Type of Customers

Service Sector such as Government Health Organizations, Hotels, Restaurants, Educational Institutions, Banking Companies, Insurance Companies, Manufacturing Companies such as Pharmaceutical, Petro-Chemical, Tobacco, Packaging, Automobile & Other Manufacturing Companies

NUMBER OF EMPLOYEES

Nature of employment	Current Year	Previous Year
Permanent	30	47
Contractual	--	--
Daily wages	--	--
Total	30	47

BUSINESS FACILITIES:

Head office Address: Owned / Rented: Area (approx):	119 Ali Block New Garden Town, Lahore Not disclosed Not disclosed
Address: Owned / Rented: Area (approx):	3-F, Madam Center, Karachi Not disclosed Not disclosed
Address: Owned / Rented: Area (approx):	2^nd Floor, Sarwar Tower, Khyber Super Market, Bara Road, Peshawar Cantt Not disclosed Not disclosed
Address: Owned / Rented: Area (approx):	Basement No 7-10, Executive Center, I-8, Markaz, Islamabad Not disclosed Not disclosed
Address: Owned / Rented: Area (approx):	368/W, Scheme 3, Farid Town, Sahiwal Not disclosed Not disclosed
Address: Owned / Rented: Area (approx):	Ali Plaza D Ground, Faisalabad/ Dubai Plaza, 2^nd Floor, Sosaan Road, Madina Colony, Faisalabad Not disclosed Not disclosed

MARKET REPUTATION

During the market check of “M/S. Nayab Pest Control services” we contacted various customers/ competitor 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. Nayab Pest Control services” is well known as a profitable business in the industry.

DETAILS OF RELATED BUSINESSES

None, as reported by the contact person or identified during investigation.

BUSINESS PERFORMANCE

The contact person declined to share financial statements or financial information.

INTERVIEW & REPORTER COMMENTS

Contact person	Mr. Raza Abbas
Position	Assistant to Managing Partner
Comments	We have contacted Mr. Raza Abbas he said for disclosing further information he require approval from the partners. As soon as he get the approval we will update the report accordingly.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.41
UK Pound	1	Rs.99.53
Euro	1	Rs.84.82

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.