|
Report Date : |
11.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SKY TRADE INTERNATIONAL FZE |
|
|
|
|
Registered Office : |
Bilal Complex, Khoshab Road, Opp. Mola Baksh Hospital, Block No. 8,
tehsil & Dist Sargodha |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
Since June 2013 |
|
|
|
|
Legal Form : |
Proprietorship Concern |
|
|
|
|
Line of Business : |
Subject is an importer of packaging materials |
|
|
|
|
No. of Employees : |
7 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New
Business |
---- |
|
Status : |
New business |
|
Payment Behaviour : |
Unknown |
|
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 |
|
Name |
SKY TRADE INTERNATIONAL
FZE |
|
Inquiry Address |
Bilal Complex, Khoshab
Road, Opp. Mola Baksh Hospital, Block No. 8, tehsil & Dist Sargodha |
|
Address (Physically
Visited) |
Bilal Complex, Khoshab
Road, Opp. Mola Baksh Hospital, Block No. 8, tehsil & Dist Sargodha |
|
Phone No. |
0092-321-6046284 |
|
Fax No. |
N/A |
|
Email |
|
|
Line Of Business |
Subject is an importer of packaging materials |
|
Contact Person |
Mr. Amir Awan |
|
Designation |
Manager |
|
Legal Status |
Proprietorship Concern |
|
CEO |
Mr. Muhammad Younas |
|
Director |
N/A |
|
Authorize Capital |
Not disclosed |
|
Paid Up Capital |
Not disclosed |
|
Legal Advisor |
Not disclosed |
|
Auditor |
Not disclosed |
|
Employees |
7 |
|
Date Of Incorporation |
Since June 2013 |
|
Registration No |
Not disclosed |
|
Buying Territory |
Not disclosed |
|
Selling Territory |
Not disclosed |
|
Buying Terms |
Not disclosed |
|
Selling Terms |
Not disclosed |
|
Bankers |
Not disclosed |
|
Remarks |
Contact person Mr. Amir
Awan denied disclosing complete information. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.64.21 |
|
UK Pound |
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.85.20 |
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 |
|
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.