MIRA INFORM REPORT

Report Date :

27.12.2014

IDENTIFICATION DETAILS

Name :	GRAINS INTERNATIONAL

Registered Office :	101, First Floor, Shalimar Centre, Near Haji Adam Chamber New Challi, Karachi

Country :	Pakistan

Year of Establishments :	1997

Legal Form :	Proprietorship Concern

Line of Business :	Engaged in Import, Export & Trading of Pulses, Rice, Spices & Other Commodities including Dry Ginger, Star Aniseed with stem / without stem, Black Pepper, Cloves, Cardomum Green, Seed Lac, Cassia Leaves, Nut Meg, Maice, Cubeb, Turmeric, Tamarind, Red Chillies, Lentils, Kabuli Cheak Peas, Whole Yellow Peas, Whole Green Peas, Wheat, Sugar, Rice, Canola, Green Mong Beans, Seeds, Green Mong Beans, Sun Flower Seeds, Red Kidney Beans & Black Eyed Beans.

No of Employees :	08

RATING & COMMENTS

MIRA’s Rating :

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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Pakistan

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 sales 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

Business Name

GRAINS INTERNATIONAL

Full Address

Registered Address

101, First Floor, Shalimar Centre, Near Haji Adam Chamber New Challi, Karachi, Pakistan

Tel #	92 (21) 32430152 - 55 (3 Lines)
Fax #	92 (21) 32432313
Email	doni@cyber.net.pk

Short Description Of Business

a.	Nature of Business	Engaged in Import, Export & Trading of Pulses, Rice, Spices & Other Commodities including Dry Ginger, Star Aniseed with stem / without stem, Black Pepper, Cloves, Cardomum Green, Seed Lac, Cassia Leaves, Nut Meg, Maice, Cubeb, Turmeric, Tamarind, Red Chillies, Lentils, Kabuli Cheak Peas, Whole Yellow Peas, Whole Green Peas, Wheat, Sugar, Rice, Canola, Green Mong Beans, Seeds, Green Mong Beans, Sun Flower Seeds, Red Kidney Beans & Black Eyed Beans.
b.	Year Established	1997
c.	National Tax #	0685885

Branches

None

Legal Status

Subject Concern was established as a Proprietorship business in 1997

Details of Management

Names

Nationality

Address

Occupation

Designation

Mr. Muhammad Arif Doni

Mr. Muhammad Iqbal Doni

Pakistani

101, First Floor, Shalimar Centre, Near Haji Adam Chamber New Challi, Karachi

Business

Proprietor

Manager (Import)

Business Activities

Subject Concern is engaged in the business as import, export & trading of Pulses, Rice, Spices & Other Commodities including Dry Ginger, Star Aniseed with stem / without stem, Black Pepper, Cloves, Cardomum Green, Seed Lac, Cassia Leaves, Nut Meg, Maice, Cubeb, Turmeric, Tamarind, Red Chillies, Lentils, Kabuli Cheak Peas, Whole Yellow Peas, Whole Green Peas, Wheat, Sugar, Rice, Canola, Green Mong Beans, Seeds, Green Mong Beans, Sun Flower Seeds, Red Kidney Beans & Black Eyed Beans.

It purchases against D/A, L/C basis.

It sells against Cash / Credit terms.

It’s mainly import from China, India, New Zealand, Australia, Canada, Vietnam, Portugal, Thailand & Hong Kong.

Its major customers are Traders, Retailers and Commodity markets in Karachi.

Subject operates from caption leased office premises of area measuring 560 Sq.ft. which is situated in commercial area.

Subject employs about 8 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2012	50,000,000/- (Estimated)

Trade Suppliers

(Foreign)

Subject mainly import from Companies belongs to China, India, New Zealand, Australia, Canada, Vietnam, Portugal, Thailand & Hong Kong

Bankers

· Bank Alhabib Limited, Pakistan.

· Habib Metropolitan Bank Limited, Pakistan.

· Bank Alfalah Limited, Pakistan.

· Faysal Bank Limited, Pakistan.

· Silk Bank Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

· Karachi Wholesale Grocers Association.(KWGA)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 100.75
UK Pound	1	Rs. 157.25
Euro	1	Rs. 123.00

Comments

Subject Concern was established in 1997 and is engaged in import, export & trading of Commodities & Food Products. Market reputation is good. Trade relations are reported as fair. Concern can be considered for normal business dealings at usual trade terms and conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.64
UK Pound	1	Rs.98.98
Euro	1	Rs.77.74

INFORMATION DETAILS

Analysis Done by :	SUM

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
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%)

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