|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
PAMA ENTERPRISES (PE) |
|
|
|
|
Registered Office : |
601, 6th Floor Al-Rahmat Trade Centre, Opp. City Court Karachi |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
1984 |
|
|
|
|
Legal Form : |
Not Available |
|
|
|
|
Line of Business : |
Importer & Exporter of Rice, Wheat and Pulses |
|
|
|
|
No. of Employees : |
08 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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 |
PAMA ENTERPRISES (PE)
|
Business Name |
Pama Enterprises (PE) |
|
Address |
Head Office
Address 601, 6th Floor Al-Rahmat Trade Centre, Opp. City Court Karachi |
|
Telephone |
9221-32777823 |
|
Fax |
9221-32777824 |
|
Email |
|
|
Website |
None |
|
Business activities |
Importer & Exporter of Rice, Wheat and Pulses |
Registry Details
The company 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 |
|
National Tax Registration Number |
Undetermined |
|
Date of Registration |
Undetermined |
|
GST Registration Number |
Undetermined |
|
Date of Registration |
Undetermined |
|
Chamber of Commerce & Industry |
Undetermined |
|
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. Leela Ram Manglani |
|
When started |
1984 |
|
Change in management |
No change |
|
Year of change |
N/A |
|
Change in legal status |
No change |
|
Year of change |
N/A |
|
Change in business address |
No change |
|
Year of change |
N/A |
|
Name |
Nationality |
|
Mr. Leela Ram Manglani |
Pakistani |
|
Name |
Position in organization |
Qualification |
Years in
employment |
|
Mr. Leela Ram Manglani |
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 |
|
MCB Bank Ltd |
Depository relation |
|
Askari Bank Ltd |
Depository relation |
|
Bank Alfalah Ltd |
Depository relation |
The core business focus of PE is Importer
& Exporter of Rice, Wheat and Pulses.
PE is Importer of Pulses from Canada, USA, India, China and Exports Rice &
Wheat to Dubai, Bangladesh.
Purchases (Incl. Imports)
|
Imports from |
Canada, USA, India, China |
|
Importing terms |
L/C, CAD |
|
Local (%) |
All over Pakistan |
|
Local buying terms |
Cash and Credit of 30 days. |
Sales (Incl. Exports)
|
Exports to |
Dubai, Bangladesh |
|
Exporting terms |
L/C |
|
Local (%) |
Sindh-Punjab |
|
Local selling terms |
Cash and Credit of 30-45 days. |
|
Nature of
employment |
Current Year |
Previous Year |
|
All Staff |
08 |
06 |
|
Total |
08 |
06 |
|
Head office Address Owned / Rented Area (approx) |
601, 6th Floor al-rahmat Trade Centre, Opp. City Court Karachi.
Undetermined Undetermined |
Two Wholesaler and Neighbors were contacted to
get a feedback about PE, 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 |
|
Magla Trader |
Karachi |
Same |
Undetermined |
The contact person
decline to share financial information.
|
Contact person |
Mr. Leela Ram Manglani |
|
Position |
Proprietor |
|
Contact Person Comments |
Mr. Leela Ram Manglani 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 one
computer and average furniture. One to two employees were present in the office. Samples of Rice and pulses were observed at site. Office is located in main commercial area of the city suitable for
this kind of business and the market itself comprises of multiple businesses
with the same line of business. Mr. Leela Ram Manglani refused to provide us Supplier/Buyer details. No Signboard was placed in the office but the sponsor and the business
is well known in the vicinity and the market. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.99 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.83.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.