|
Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
HAIDER ENTERPRISES |
|
|
|
|
Registered Office : |
55, |
|
|
|
|
Country : |
|
|
|
|
|
Year of Establishment : |
1997 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Import &
Trading of Textile Chemicals, Dyes & Pigments, Textile Raw Materials |
|
|
|
|
No. of Employees : |
5 Persons |
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 – June 1, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Pakistan |
B1 |
B1 |
|
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 |
HAIDER ENTERPRISES
|
Registered
Address |
|
55, Circular Road, Outside Akbari Mandi, Lahore, Pakistan |
|
Tel
# |
92 (42) 37639845, +923008111005 |
|
Fax
# |
92 (42) 37639845 |
|
a. |
Nature of Business |
Import &
Trading of Textile Chemicals, Dyes & Pigments, Textile Raw Materials |
|
b. |
Year Established |
1997 |
None
|
Subject Company was established as a
Proprietorship business in 1997 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Hassan Raza Haider |
Pakistani |
55, Circular Road, Outside Akbari Mandi, Lahore |
Business |
Proprietor |
A. Subsidiary
None
B. Associated
Companies
None
Subject Company is engaged in import &
trading of Textile Chemicals, Dyes & Pigments, Textile Raw Materials.
It purchases raw materials against D/A,
D/P basis.
It sells against cash / credit term basis to
its local customers.
Its’ major customers are Textile Companies,
Trading Companies etc.
Subject operates from caption leased shop
premises of area measuring 600 Sq.ft. situated at
commercial market of Lahore.
Subject employs about 5 persons in its set up.
Mainly from India,
China, Taiwan, Korea, Hong Kong, U.A.E. & Indonesia
|
Year |
In
Pak Rupees |
|
2013 |
22,000,000/- (Estimated) |
(1) Allied Bank Limited, Pakistan.
(2) Faysal Bank
Limited, Pakistan.
(3) Habib Bank
Limited, Pakistan.
(4) Bank Alfalah
Limited, Pakistan.
|
Currency |
Unit |
Pakistani
Rupee |
|
US Dollar |
1 |
Rs. 102.50 |
|
UK Pound |
1 |
Rs. 159.00 |
|
Euro |
1 |
Rs. 126.00 |
Subject Company was established in 1997 and is
engaged in import & trading business. 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.61.85 |
|
|
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.