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Report Date : |
04.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
KANWAL TRADING COMPANY (KTC) |
|
|
|
|
Registered Office : |
701, 7th floor Hussain
Trade Centre, |
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|
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Country : |
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|
|
|
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Date of Incorporation : |
2000 |
|
|
|
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Legal Form : |
Proprietorship Concern |
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|
|
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Line of Business : |
Trader & Exporter of Pulses, Rice and Spices |
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|
|
|
No. of Employees : |
30 |
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 |
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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 – 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 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 |
KANWAL TRADING COMPANY
(KTC)
|
Business Name |
Kanwal Trading Company (KTC) |
|
Address |
Head Office
Address: 701, 7th floor Hussain Trade Centre, Altaf Hussain Road, New Challi, Karachi. |
|
Telephone |
9221-32216331-3, 0332-2000722 |
|
Fax |
9221-32216334 |
|
|
|
|
Website |
|
|
Business activities |
Trader & Exporter of Pulses, Rice and Spices |
Registry Details
KTC is a proprietorship concern hence registration with any regulatory body is not mandatory.
|
CRO Registration Number |
N/A |
|
Date of Registration |
Other registry &
certification details:
|
Current Legal Form |
Proprietorship Concern |
|
National Tax Registration Number |
Undetermined |
|
Date of Registration |
Undetermined |
|
GST Registration Number |
Undetermined |
|
Date of Registration |
Undetermined |
|
Chamber of Commerce & Industry |
Karachi Chamber of Commerce & Industries |
|
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. Gopal Khamuani |
|
When started |
2000 |
|
Change in management |
None |
|
Year of change |
N/A |
|
Change in legal status |
None |
|
Year of change |
N/A |
|
Change in business address |
None |
|
Year of change |
N/A |
|
Name |
Nationality |
|
Mr. Gopal Khamuani
|
Pakistani |
|
Name |
Position in organization |
Qualification |
Years in employment |
|
Mr. Gopal Khamuani |
Proprietor |
Graduate |
14 years |
|
Mr. Parkash Khamuani |
Manager |
Graduate |
10 years |
|
Statutory offices |
Name of service
provider |
|
Statutory
Auditors |
Not Appointed |
|
Legal
Advisory Services |
Not Appointed |
|
Bank name |
Approved financing
limits |
|
Askari Bank Ltd |
Depository relation |
|
Habib Bank Ltd |
Depository relation |
The core business focus of KTC is Trading, Export & Import of Pulses, Rice and Spices. KTC Import Pulses and Spices from India, Canada, Australia at L/C & D/P Basis. KTC Export Rice, Oil Seeds, Dry Fruit to India and Malaysia through L/C & D/P. KTC is considered as pioneers in the said industry, it aims to provide the best quality services at market competitive rates.
Products:
Moong Bean Peshawar Bold, Moong Bean Peshawer Small, Moong Bea Peshawer Mix,Moong Bean Punjab bold,Moong Bean Mianwali, Moong Bean Sindh,Moong Daal Peshawer Bold,Moong Daal Peshawer Small,Moong Daal Punjab SQ,Moong Daal Mianwali SQ Moong Daal Sindh SQ,Moong Split Mianwali, Red Chillies Whole (Dandi cut), Red Chillies Powder, Figs, Dry Dates, Apricots, Green Raisin, Black Raisin, Almonds, Walnuts, Sesame Seeds, Mustard Seeds, Yellow Maize, Onions, Potatoes.
Purchases (Incl.
Imports)
|
Imports from |
India, Canada, Australia |
|
Importing terms |
L/C, D/P |
|
Local (%) |
Sindh-Punjab |
|
Local buying terms |
Cash and Credit of 30 days. |
Sales (Incl. Exports)
|
Exports to |
India, Malaysia |
|
Exporting terms |
L/C, D/P |
|
Local (%) |
Sindh-Punjab |
|
Local selling terms |
Cash and Credit of 10-15 days. |
|
Nature of
employment |
Current Year |
Previous Year |
|
All Staff |
35 |
30 |
|
Total |
35 |
30 |
|
Head office Address Owned / Rented Area (approx) |
701, 7th floor Hussain Trade Centre, Altaf Hussain Road, New Challi Karachi. Undetermined 300 sq. feet |
|
Factory Address Owned / Rented Area (approx) |
Plot No. F-4, S.I.T.E Kotri, District Jamshoro Sindh-Pakistan. Undetermined Undetermined |
Wholesaler and
neighbors were contacted to get a feedback about KTC, 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 |
|
R.K. Commission Shop |
Hyderabad |
Undetermined |
Undetermined |
|
Kanwal Industries |
Karachi |
Undetermined |
Undetermined |
The contact person
decline to share financial information.
|
Contact person |
Mr. Parkash Khamuani |
|
Position |
Manager |
|
Contact Person Comments |
Mr. Parkash Khamuani confirmed business operations and business information however; he refused to share financial information. |
|
Analyst’s Observations/ comments |
The office was comprised of one air-conditioned rooms, with two computers and one laptop and well decorated furniture. Two to three employees were present in the office. At the time of visit staff was busy in their respective tasks. Office is located in commercial area suitable for this kind of business. Mr. Parkash Khamuani had good knowledge about business and the industry. Signboard was placed at the entrance of the office. Samples of Pulses & Rice items were observed at site. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.69 |
|
|
1 |
Rs.102.97 |
|
Euro |
1 |
Rs.84.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.