|
Report Date : |
12.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAMAR IMPEX (SI) |
|
|
|
|
Registered Office : |
55-C 1st Floor Opp. Akbari Mandi Lahore |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
Not Available |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Importer and Sale of Napthol, Base Oil Leather, Paper Board, Dyes
& Textile Chemicals. |
|
|
|
|
No. of Employees : |
12 |
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 – 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 |
SAMAR IMPEX (SI)
|
Business Name |
SAMAR IMPEX (SI) |
|
Address |
Head Office /
Registered Office: 55-C 1st Floor Opp. Akbari Mandi Lahore |
|
Telephone |
(+92) (42) 37631961, 37669746 |
|
Fax |
(+92) (42) 37631460 |
|
Mobile |
(+92) (322) 4828549 (+92) (333) 4083366 |
|
Email |
|
|
Website |
None |
|
Business activities |
Importer and Sale of Napthol, Base Oil Leather, Paper Board, Dyes
& Textile Chemicals. |
Registry Details
SI is 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 |
|
National Tax Registration Number |
Not Disclosed |
|
Date of Registration |
Undetermined |
|
GST Registration Number |
Not Disclosed |
|
Date of Registration & Expiry |
Undetermined |
|
Chamber of Commerce & Industry |
None |
|
Date of Registration & Expiry |
N/A |
|
ISO Certification |
None |
|
Date of Registration & Expiry |
N/A |
|
Other certifications |
Undetermined |
|
Date of Registration & Expiry |
Undetermined |
History
|
Who started |
Mr. Samar |
|
When started |
Undetermined |
|
Change in management |
None |
|
Year of change |
N/A |
|
Change in legal status |
None |
|
Year of change |
N/A |
|
Change in business name |
None |
|
Year of change |
N/A |
|
Name |
Number of Shares |
Nationality |
Appointment Date
(Last) |
|
Mr. Samar |
100% |
Pakistani |
Not provided |
|
Name |
Position in organization |
Qualification |
Years in
employment |
|
Mr. Samar |
Proprietor |
Not provided |
Not provided |
|
Statutory offices |
|
|
Statutory Auditors |
Not provided |
|
Legal Advisory Services |
Not provided |
|
Bank name |
Approved
financing limits |
|
Not provided |
Not provided |
The core focus of the concern is Import and sales of Base oil, Napthol,
paper board and textile chemical other than this the SI also deals in dyes
chemical and dyes.
Purchases (Incl.
Imports)
|
Imports from |
China, India, Taiwan |
|
Importing terms |
LC Basis |
|
Local (%) |
25% |
|
Local buying terms |
Cash & 30 days credit |
Sales (Incl.
Exports)
|
Exports to |
Nil |
|
Exporting terms |
Nil |
|
Local (%) |
100% |
|
Local selling terms |
Cash & 30 days credit |
|
Nature of employment |
Current Year |
Previous Year |
|
Permanent |
12 |
Undetermined |
|
Total |
12 |
|
|
Head office Address Owned / Rented Area (approx) |
55-C 1st Floor Opp. Akbari Mandi Lahore. Details not provided. |
|
Factory Address Owned / Rented Area (approx) |
Not Disclosed |
|
Warehouse Address Owned / Rented Area (approx) |
Not Disclosed |
We contacted 2 customers/ suppliers to get a feedback about the concern,
the concern has some longstanding customer who claimed that SI is doing well in
the market and claimed that they have never faced any issues regarding the
rates and delivery. We further got to know that SI has good market reputation
and is known to be a profitable business in the local market.
|
Business Name |
City |
Line of Business |
Percentile of
Shareholding |
|
Not Disclosed |
|||
(Details are not provided)
The contact person decline to share financial information.
|
Contact person |
Mr. Samar |
|
Position |
Proprietor |
|
Comments |
We visited the business premises, Mr. Samar refuse to share business information
and his details of the business activities. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.44 |
|
|
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.84.28 |
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.