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Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
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Name : |
M.A.J INTERNATIONAL |
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Registered Office : |
13/F, Block-6, P.E.C.H.S., Karachi-75400 |
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Country : |
Pakistan |
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Year of Establishments: |
1995 |
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Legal Form : |
Partnership Concern |
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Line of Business : |
engaged in import, indenting & trading
of Pharmaceutical Raw Materials, Food Chemicals, Industrial Chemicals &
Textile Chemicals. |
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No. of Employees |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
M.A.J INTERNATIONAL
|
Registered
Address |
|
13/F, Block-6, P.E.C.H.S., Karachi-75400, Pakistan |
|
Tel # |
92 (21) 34536897, 34536898 |
|
Fax # |
92 (21) 34530292 |
|
Email |
|
a. |
Nature of Business |
Import, Indenting
& Trading of Pharmaceutical Raw Materials, Food Chemicals, Industrial
Chemicals, Textile Chemicals |
|
b. |
Year Established |
1995 |
None
Subject Concern was established as a Partnership business in
1995
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Juzer Hakimuddin Mr. Ali Asghar |
Pakistani Pakistani |
13/F, Block-6,
P.E.C.H.S., Karachi 13/F, Block-6,
P.E.C.H.S., Karachi |
Business Business |
Managing Partner Partner |
None
Subject Concern is engaged in import, indenting &
trading of Pharmaceutical Raw Materials, Food Chemicals, Industrial Chemicals
& Textile Chemicals.
Payments would be made through L/C, D/P basis
Local sales are mostly on cash / credit term basis to its local customers.
It’s mainly import from China, Korea, Taiwan, India, U.A.E., Ukraine, Thailand, Hong Kong & Indonesia.
Its major customers are Industrial Organizations, Private Companies, Textile Manufacturers etc.
Subject operates from caption leased office premises situated at residential + commercial area of Karachi.
Subject employs about 10 persons in its set up.
|
Year |
In Pak Rupees |
|
2012 |
30,000,000/- (Estimated) |
(Foreign)
Subject mainly import from Companies belongs to China, Korea, Taiwan, India, U.A.E., Ukraine,
Thailand, Hong Kong & Indonesia
(1) Askari Bank Limited,
Pakistan.
(2) Bank Alfalah
Limited, Pakistan.
(3) Habib Bank Limited,
Pakistan.
(4) Bank Al-Habib
Limited, Pakistan.
·
Karachi Chamber of Commerce & Industry.(KCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 100.00 |
|
UK Pound |
1 |
Rs. 165.35 |
|
Euro |
1 |
Rs. 136.50 |
Subject Concern was established in 1995 and is engaged in import, indenting & trading of
Pharmaceutical Raw Materials, Food Chemicals, Industrial Chemicals, &
Textile Chemicals. Trade relations are
reported as fair. 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.60.32 |
|
UK Pound |
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
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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 |
|
|
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.