|
Report Date : |
02.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHEHZAD & COMPANY (SC) |
|
|
|
|
Registered Office : |
8th floor, Office # 807, Hussain Trade Centre,
Altaf Hussain Road New Challi, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
2008 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Trader of Pulses |
|
|
|
|
No. of Employees : |
04 |
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 |
SHEHZAD & COMPANY
(SC)
|
Business Name |
Shehzad & Company. (SC) |
|
Address |
Registered Address 8th floor, Office # 807, Hussain Trade Centre, Altaf Hussain Road New Challi, Karachi. |
|
Telephone |
(+92) (21) 32275777-8 0300-2293839 |
|
Fax |
(+92) (21) 32275779 |
|
|
|
|
Website |
None |
|
Business activities |
Trader of Pulses |
Registry Details
SC is a 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 |
Not disclosed |
|
Date of Registration |
Undetermined |
|
GST Registration Number |
Not disclosed |
|
Date of Registration |
Undetermined |
|
Chamber of Commerce & Industry |
Undetermined |
|
ISO Certification |
None |
|
Other certifications |
None |
Capital
|
Type |
No. of Shares |
Par Value |
Total Value |
|
Issued, Subscribed & Paid-Up |
N/A |
||
History
|
Who started |
Mohammad Shehzad |
|
When started |
2008 |
|
Change in management |
No change |
|
Year of change |
N/A |
|
Change in legal status |
No change |
|
Year of change |
N/A |
|
Change in business name |
No change |
|
Year of change |
N/A |
|
Name |
Nationality |
|
Mr. Mohammad Shehzad |
Pakistani |
|
Name |
Position in organization |
Qualification |
Years in employment |
|
Mr. Mohammad Shehzad |
Proprietor |
Undetermined |
Undetermined |
|
Statutory offices |
Name of service
provider |
|
Statutory
Auditors |
Not
Appointed |
|
Legal
Advisory Services |
Not
Appointed |
|
Bank name |
Approved financing
limits |
|
Habib Metropolitan Bank Ltd |
Depository relation |
The core business focus of SC is Trader of Pulses. SC import and trade pulses in local market, the company does not sale a specific brand but sale open pulses on bulk orders in Sindh and Punjab.
Products:
Peas, Beans, Lentils
Purchases (Incl.
Imports)
|
Imports from |
Australia, Canada, India |
|
Importing terms |
CAD |
|
Local (%) |
All over Pakistan |
|
Local buying terms |
Cash and 30-45 days Credit |
Sales (Incl. Exports)
|
Exports to |
N/A |
|
Exporting terms |
Nil |
|
Local (%) |
100 (Sindh – Punjab) |
|
Local selling terms |
Cash and Credit of 30 Days |
|
Nature of
employment |
Current Year |
Previous Year |
|
Permanent |
04 |
04 |
|
Total |
04 |
04 |
|
Head office Address Owned / Rented Area (approx) |
8th floor, office # 807, Hussain Trade Centre, Altaf Hussain Road New Challi, Karachi. Undetermined 250 sq.feet (approx) |
Two wholesalers
and two suppliers were
contacted to get a feedback about SC, 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 |
|||
Business performance
could not be analyzed as the contact person declined to share financial
information.
|
Contact person |
Mr. Mohammad Shehzad |
|
Position |
Proprietor |
|
Contact Person Comments |
Mr. Mohammad Shehzad confirmed business operations and business information however; he declined to share financial information. |
|
Analyst’s Observations/ comments |
The office was comprised of one-conditioned rooms, and average furniture. Two employees were present in the office. Samples of Pulses were observed at site. The concern is not registered with any regulatory body (not mandatory). The contact person was quite reluctant to disclose information. The location of the concern is quite a prime location with good healthy market competition. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
|
1 |
Rs.102.39 |
|
Euro |
1 |
Rs.85.12 |
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.