|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL-RAHEEM TRADING COMPANY |
|
|
|
|
Registered Office : |
House |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1997 |
|
|
|
|
Legal Form : |
Partnership business |
|
|
|
|
Line of Business : |
Subject is engaged in the Import, Indenting
& Trading of Textile Chemicals, Dyes & Pigments, Textile Raw
Materials |
|
|
|
|
No. of Employees : |
5 |
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 |
|
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 |
AL-RAHEEM TRADING
COMPANY
|
Registered Address |
|
House # 2, Allahwali Street, Near Seena
Laboratory, Chohan Road, Islampura, Lahore, Pakistan |
|
Tel # |
92 (42) 37157518, 37154437, +923009487129 |
|
Fax # |
92 (42) 37154437 |
|
Email |
|
a. |
Nature of Business |
Import, Indenting & Trading of Textile
Chemicals, Dyes & Pigments, Textile Raw Materials |
|
b. |
Year Established |
1997 |
None
|
Subject Company was established as a Partnership business in 1997 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Ashfaq Ahmed Mrs. Ashfaq Ahmed |
Pakistani Pakistani |
House # 2, Allahwali Street, Near Seena
Laboratory, Chohan Road, Islampura, Lahore House # 2, Allahwali Street, Near Seena Laboratory,
Chohan Road, Islampura, Lahore |
Business Business |
Managing Partner Partner |
Subject Company is engaged in import,
indenting & trading of Textile Chemicals, Dyes & Pigments, Textile Raw
Materials
It purchases raw material against L/C, D/P basis.
It sells against Cash / Credit term basis to its local customers.
It’s mainly import from China, India, Korea, Taiwan, Indonesia, Germany
& Italy.
Its major customers are Textile Companies, Trading Companies etc.
Subject operates from caption leased office premises of area measuring
500 Sq.ft. which is situated at residential + commercial area of Lahore.
Subject employs about 5 persons in its set up.
|
Year |
In Pak Rupees |
|
2012 |
18,000,000/- (Estimated) |
Subject mainly import from Companies belongs to China, India, Korea,
Taiwan, Indonesia, Germany & Italy
MCB Bank Limited, Pakistan.
Bank Alfalah Limited, Pakistan.
United Bank Limited, Pakistan.
Faysal Bank Limited, Pakistan.
Lahore Chamber of Commerce & Industry.(LCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 105.60 |
|
UK Pound |
1 |
Rs. 176.80 |
|
Euro |
1 |
Rs. 144.75 |
Subject Company was established in 1997 and is engaged in import,
indenting & 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.62.28 |
|
|
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.