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Report Date : |
20.01.2014 |
IDENTIFICATION DETAILS
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Name : |
MS. WILSON & CO. (WC) |
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Registered Office : |
56- G, Beverly Center, Blue Area Islamabad |
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Country : |
Pakistan |
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Date of Incorporation : |
04.10.2001 |
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Legal Form : |
Partnership Concern |
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Line of Business : |
Trading and Import of international top ranked Brands. Products mainly
includes : Rolex, Montblanc, Patek Phhilipe, Bvlgari, Iwc, Breitling, Breguet, Harry Winston, Alfred Dunhill, Frey Wille, Faberge, Pal Zileri, Santoni, Bruno Magli And Safilo Group etc. |
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No. of Employees : |
70 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Pakistan |
B2 |
B2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
M/S. WILSON & CO. (WC)
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Business Name |
WILSON & Co. (WC) |
|
Address |
Head Office Address 56- G, Beverly Center, Blue Area Islamabad Rawalpindi Office
Address 9 – The Mall Road, Saddar Cantt Rawalpindi Lahore Office
Address 9/A/K, Kingston Mall, Main Boulevard, Gulberg II, Lahore Karachi Office
Address No. 105, The Forum Mall, Clifton, Karachi |
|
Telephone |
Head Office +92-51-111 111 737 Rawalpindi Office 051-5701201-02 Lahore Office 042-111111737 Karachi Office 021 – 35301384-5 |
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Fax |
Head Office +92-51-2270590 Rawalpindi Office +92-51- 5701204 |
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Website |
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Business activities |
Trading and Import of international top ranked Brands. |
Registry Details
WC is a partnership firm, registration with any regulatory body is not mandatory.
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CRO Registration Number |
N/A |
|
Date of Registration |
Other registry &
certification details:
|
Current Legal Form |
Partnership Concern |
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National Tax Registration Number |
1305273-0 |
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Date of Registration |
October 4, 2001 |
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GST Registration Number |
0701999943473 |
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Date of Registration |
November 19, 2001 |
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Chamber of Commerce & Industry |
Undetermined |
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ISO Certification |
Undetermined |
|
Other certifications |
Undetermined |
Capital
|
Type |
No. of Shares |
Par Value |
Total Value |
|
Authorized |
N/A |
||
|
Issued, Subscribed & Paid-Up |
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History
|
Who started |
Mr. Khalid Amin |
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When started |
October 4, 2001 |
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Change in management |
None |
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Year of change |
N/A |
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Change in legal status |
None |
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Year of change |
N/A |
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Change in business name |
None |
|
Year of change |
N/A |
|
Name |
Profit and Loss sharing Ratio |
Nationality |
Appointment Date
(Last) |
|
Mr. Khalid Amin |
Undetermined |
Pakistani |
Oct 04, 2001 |
|
Mr. Noor-ul-Amin |
Undetermined |
Pakistani |
Oct 04, 2001 |
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Name |
Position in organization |
Qualification |
Years in employment |
|
Mr. Khalid Amin |
Managing Partner |
Undetermined |
Undetermined |
|
Mr. Noor-ul-Amin |
Partner |
Undetermined |
Undetermined |
|
Statutory offices |
Name of service
provider |
|
Statutory
Auditors |
Not
Disclosed |
|
Legal
Advisory Services |
Not
Disclosed |
|
Bank name |
Approved financing
limits PKR |
|
Not
Disclosed |
|
DETAILS OF BUSINESS ACTIVITIES
WC is a sister concern of W-Wilsons Chemists, Wilsons Pharmaceuticals, Werrick Pharmaceuticals, Werrick Health care and Scotmann Pharmaceuticals. This Group is spearheading into the future with many distinctions and bears the reputation of being extremely innovative. Wilsons and co. (The Specialty Mall Concept) it is a unique concept of showcasing International brands in their true letter and spirit under one roof with fully imported furniture and fixtures complemented by state-of-the-art display systems. Wilsons and co operates 4 such specialty Malls at key locations in the major cities of Pakistan. Wilsons Specialty Malls are renowned as an arbiter of modern style. From the day their doors opened in 2002, the purpose of this retail arms has always been the same i.e. to be the first and only choice for the most discerning consumers, the ones with the highest expectations. Wilsons represents and retails a wide range of globally renowned brands and market leaders in their respective categories.
Products:
Rolex, Montblanc, Patek Phhilipe, Bvlgari, Iwc, Breitling, Breguet, Harry Winston, Alfred Dunhill, Frey Wille, Faberge, Pal Zileri, Santoni, Bruno Magli And Safilo Group etc.
Purchases (Incl.
Imports)
|
Imports from |
Germany, Italy, USA, Switzerland & France |
|
Importing terms |
L/C |
|
Local |
Not Disclosed |
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Local buying terms |
Cash & Credit |
Sales (Incl. Exports)
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Exports to |
Nil |
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Exporting terms |
N/A |
|
Local (%) |
100 % (All over Pakistan) |
|
Local selling terms |
Cash Basis |
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Nature of
employment |
Current Year |
Previous Year |
|
All Staff |
70 |
70 |
|
Total |
70 |
70 |
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Head office Address Owned / Rented Area (approx) |
56- G, Beverly Center, Blue Area Islamabad. Undetermined Undetermined |
|
Rawalpindi Office Address Owned / Rented Area (approx) |
9 – The Mall Road, Saddar Cantt Undetermined Undetermined |
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Lahore Office Address Owned / Rented Area (approx) |
9/A/K, Kingston Mall,
Main Boulevard, Undetermined Undetermined |
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Karachi Office Address Owned / Rented Area (approx) |
No. 105, The Forum Mall, Clifton, Karachi. Undetermined Undetermined |
Three Competitors were
contacted to get a feedback about WC. All the feedback was found Satisfactory
and no disputes or untoward events including complaints about quality of
products were reported/ identified during inquiry. Further we got to know that
WC is pioneer in its industry and held in high regards amongst the competitors.
|
Business Name |
City |
Line of Business |
Percentile of
Shareholding |
|
M/s. Wilson Pharmaceuticals |
Islamabad |
Manufacturers and trader of pharmaceutical Products |
Undetermined |
|
M/s. Werrick Pharmaceuticals |
Islamabad |
Manufacturers and trader of pharmaceutical Products |
Undetermined |
|
M/s. W-Wilsons Chemists, |
Islamabad |
Trading of Medicines |
Undetermined |
|
M/s. Werrick Health care |
Islamabad |
Manufacturers
Producing/ manufacturing Dental Care, Tooth Brush, Creams, Diapers, PET
Bottles and juices etc. |
Undetermined |
|
M/s. Scotmann Pharmaceuticals |
Islamabad |
Manufacturers and trader of pharmaceutical Products |
Undetermined |
The contact person decline to share financial information.
|
Contact person |
Mr. Shahzad Surfraz |
|
Position |
Marketing Manager |
|
Contact Person Comments |
Mr. Shahzad Surfraz confirmed business operations and business information however; he declined to share financial information. |
|
Analyst’s Observations/ comments |
Mr. Shahzad Surfraz said that the subject has been established in Year 2001 and has been operating since its establishment. The concerned person said that the subject has been involved in the business of international top ranked Brands import & retail sales. The subject office is located in Blue Area, Islamabad and has offices in Rawalpindi, Lahore & Karachi as well. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
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 |
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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.