|
Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
WINDMILL CHEMICAL COMPANY |
|
|
|
|
Registered Office : |
198/F, Millat Town, Opposite Klash Park, Millat Road, Faisalabad |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
2002 |
|
|
|
|
Legal Form : |
Proprietorship
Business |
|
|
|
|
Line of Business : |
Subject is engaged in import, indenting
& trading of Textile Chemicals, Industrial Chemicals |
|
|
|
|
No. of Employees : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small company |
|
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 – September 30, 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 was 6.6% in 2013, 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. 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 the following two years, 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 3.5% per year from
2008 to 2013. 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 |
WINDMILL CHEMICAL COMPANY
|
Registered Address |
|
198/F, Millat Town, Opposite Klash Park, Millat Road, Faisalabad,
Pakistan |
|
Tel |
92 (41) 8871100 |
|
Fax |
92 (41) 8871100 |
|
a. |
Nature of Business |
Engaged in import, indenting & trading
of Textile Chemicals, Industrial Chemicals |
|
b. |
Year Established |
2002 |
|
None |
|
Subject Company was established as a Proprietorship business in 2002 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Mujahid Hussain |
Pakistani |
198/F, Millat Town, Opposite Klash Park, Millat Road, Faisalabad |
Business |
Proprietor |
|
None |
Subject Company is engaged in
import, indenting & trading of Textile Chemicals, Industrial Chemicals etc.
Local sales are mostly on credit term basis to its local customers.
It’s mainly import from China &
India.
Its major customers are Industrial Organizations, Textile Companies etc.
Subject operates from caption leased shop premises situated at
commercial area of Faisalabad.
Subject employs about 4 persons in its set up.
|
Year |
In Pak Rupees |
|
2012 |
6,000,000/- (Estimated) |
|
Subject mainly import from Companies belongs to China & India |
|
(1) Allied Bank Limited, Pakistan. (2) MCB Bank Limited, Pakistan. (3) Meezan Bank Limited, Pakistan. (5) Habib Bank Limited, Pakistan. |
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 100.00 |
|
UK Pound |
1 |
Rs. 166.50 |
|
Euro |
1 |
Rs. 138.00 |
Subject Company was established in 2002 and is engaged in import, indenting & trading of Textile Chemicals,
Industrial Chemicals etc. Trade relations are not known. Such as
conducting business activity with the subject is considered to be a trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.65 |
|
|
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NNA |
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.