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Report Date : |
04.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SCHNEIDER
ELECTRIC PAKISTAN (PVT) LIMITED |
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Formerly Known As : |
AREVA T & D PAKISTAN (PVT) LIMITED |
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Registered Office : |
D-163, S.I.T.E., Karachi 75700 |
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Country : |
Pakistan |
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Date of Incorporation : |
1963 |
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Com. Reg. No.: |
0001818
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Legal Form : |
Private Limited |
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Line of Business : |
Manufacture & Installation of Electrical Switchgears, Grid
Stations & Distribution Systems |
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No. of Employees : |
288 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
SCHNEIDER ELECTRIC
PAKISTAN (PVT) LIMITED
(FORMERLY: AREVA T
& D PAKISTAN (PVT) LIMITED
Registered Address
D-163, S.I.T.E., Karachi 75700, Pakistan
Tel # 92
(21) 32576005 - 09 (5 Lines)
Fax # 92
(21) 32560449
Email apkho@cyber.net.pk,
|
a. |
Nature of Business |
Manufacture & Installation of
Electrical Switchgears, Grid Stations & Distribution Systems |
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b. |
Year Established |
1963 |
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c. |
Registration # |
0001818
|
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Address |
3rd Floor, KSB Building, 16/2 Sir Aga Khan III Road,
Lahore, Pakistan |
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Tel # |
92 (42) 36300688, 36300685 |
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Fax # |
92 (42) 36300683 |
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M. Yousuf Adil Saleem & Co. (Chartered
Accountants) Cavish Court, A-35, Block 7 & 8, KCHSU,
Shahrah-e-Faisal, Karachi, Pakistan |
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Subject Company was established as a Private
Limited Limited in 1963 by the name of AEG Pakistan (Pvt) Limited. In 1985,
Its name was changed from “AEG Pakistan (Pvt) Limited to “Alstom Pakistan
(Pvt) Limited”. In December, 2005 the subject company has been applied for
change of name from “Alstom Pakistan (Pvt) Limited” to “AREVA T & D
Pakistan (Pvt) Limited” which is finally been approved with the securities
& exchange commission of Pakistan. |
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6. |
Authorized Capital |
Rs. 200,000,000/- divided into 2,000,000 shares
of Rs. 100/- each |
|
|
Issued & Paid up Capital |
Rs. 100,000,000/- divided into 1,000,000 shares
of Rs. 100/- each |
|
Name |
Designation |
|
Mr. Mazhar Valjee Mr. Bryan Foster Mr. Ravi Arthur Mr. Sarmad Amin Mr. Marco Graziano |
Chief
Executive Director Director Director Director |
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Name
|
No of Shares |
|
Areva T & D Holding, France Mr. Sarmad Amin |
800,000 200,000 |
(1) Areva T & D Holding, France is the holding company of Areva T & D Pakistan (Pvt) Limited
(80% shares held)
Manufacture & Installation of Electrical Switchgears, Grid Stations,
Distribution Systems including Electric Power Plug Automatic
Tripping, Electric Switch Board, Electric Panels & Distribution Boards, Electrical Switchgears,
Power Engineering, Industrial Instrumentation, Sugar Mill Machinery & Parts, Electric Circuit Breakers of all
types, Electric Meters, Electric Motors.
288
|
Year |
In Pak Rupees |
|
2012 |
2,000,000,000/- (Estimated) |
(1)
TYCO ELECTR
RAYCHEM GMBH, GERMANY.
(2)
AVATEX POWER PTE
LIMITED, SINGAPORE.
Mainly Sugar Companies, Engineering Concerns, Manufacturing Companies,
Government Organizations etc
(1)
Bank Al-Habib Limited,
Pakistan
(2)
The Royal Bank of Scotland,
Pakistan.
(3)
Faysal Bank Limited,
Pakistan.
(4)
Standard Chartered Bank,
Pakistan.
(5)
Habib Bank Limited, Pakistan.
(6)
Soneri Bank Limited,
Pakistan.
·
Federation Pakistan Chamber of Commerce &
Industry.(FPCCI)
·
Karachi Chamber of Commerce & Industry.(KCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 104.00 |
|
UK Pound |
1 |
Rs. 161.00 |
|
Euro |
1 |
Rs. 138.25 |
Subject Company enjoys good reputation
internationally as well as in Pakistan. Directors are reported as qualified, resourceful
and experienced businessmen. Payments to creditors etc are reported as normal.
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.66.88 |
|
UK Pound |
1 |
Rs.103.94 |
|
Euro |
1 |
Rs.88.09 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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-- |
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.