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Report Date : |
01.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAUF ENTERPRISE (RE) |
|
|
|
|
Registered Office : |
2nd floor, Shalimar Centre, New Challi, Altaf Hussain Road Karachi |
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|
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Country : |
Pakistan |
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Date of Incorporation : |
06.11.1995 |
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Legal Form : |
Proprietorship Concern |
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|
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Line of Business : |
Exporter of Fruit and Vegetable products including Mangoes, Oranges, Grapes & Other seasonal Fruits |
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No. of Employees : |
06 |
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 : |
Moderate |
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|
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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 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 |
|
Business Name |
Rauf Enterprise (RE) |
|
Address |
Head Office: 2nd floor, Shalimar Centre, New Challi, Inquiry address: 905, 9th floor Hussain Trade Centre, |
|
Telephone |
Undetermined |
|
Fax |
Undetermined |
|
|
Not Disclosed |
|
Website |
None |
|
Business activities |
Exporter of Fruit and Vegetable |
RE is proprietorship concern, registration with any regulatory body is not mandatory.
|
CRO Registration Number |
N/A |
|
Date of Registration |
Other registry
& certification details:
|
Current Legal Form |
Proprietorship |
|
National Tax Registration Number |
0514823-5 |
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Date of Registration |
November 06, 1995 |
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GST Registration Number |
1101620014882 |
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Date of Registration |
March 31, 2003 |
|
Chamber of Commerce & Industry |
Undetermined |
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ISO Certification |
None |
|
Other certifications |
None |
Capital
|
Type |
No. of Shares |
Par Value |
Total Value |
|
Authorized |
N/A |
||
|
Issued, Subscribed & Paid-Up |
|||
History
|
Who started |
Mr. Abdul Rauf |
|
When started |
1995 |
|
Change in management |
No change |
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Year of change |
N/A |
|
Change in legal status |
No change |
|
Year of change |
N/A |
|
Change in business address |
Hussain Trade Centre to Shalimar Centre |
|
Year of change |
2012 |
(SPONSORS)
|
Name |
Nationality |
|
Mr. Abdul Rauf |
Pakistani |
|
Name |
Position in organization |
Qualification |
Years in employment |
|
Mr. Abdul Rauf |
Proprietor |
Undetermined |
Undetermined |
|
Statutory
offices |
Name of service
provider |
|
Statutory Auditors |
Not Appointed |
|
Legal Advisory Services |
Not Appointed |
|
Bank name |
Approved financing
limits |
|
Undetermined |
|
The core business focus of RE is Exporter of Fruit and Vegetable. RE purchases fruit from local
specialized dealers in Sind and Punjab and exports to
Products:
- Mangoes
-
- Grapes
- Other seasonal Fruits
Purchases (Incl.
Imports)
|
Imports from |
None |
|
Importing terms |
N/A |
|
Local (%) |
Sindh-Punjab |
|
Local buying terms |
Cash and Credit of 30 days. |
Sales (Incl.
Exports)
|
Exports to |
|
|
Exporting terms |
L/C |
|
Local (%) |
None |
|
Local selling terms |
N/A |
|
Nature of employment |
Current Year |
Previous Year |
|
All Staff |
06 |
06 |
|
Total |
06 |
06 |
|
Head office Address Owned / Rented Area (approx) |
2nd floor, Shalimar
Centre, New Challi, Undetermined Undetermined |
Neighbors were
contacted to get a feedback about RE, its products and sponsors. All the
feedback was found Satisfactory and no disputes or untoward events including
complaints about quality of products were reported/ identified during inquiry.
|
Business Name |
City |
Line of Business |
Percentile of Shareholding |
|
None |
|||
The contact person decline to share financial information.
|
Contact person |
Mr. Abdul Rauf |
|
Position |
Proprietor |
|
Contact Person Comments |
Mr. Abdul Rauf confirmed business operations however; he refused to share business information and financial information. |
|
Analyst’s Observations/ comments |
i) The office was comprised of one air-conditioned rooms, with one computer and well decorated furniture. ii) Two to three employees were present in the office. iii) At the time of visit staff was busy in work. iv)
Office is located in a commercial area of v) The concern has changed its office address recently in 2012. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
|
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.