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Report Date : |
01.03.2014 |
IDENTIFICATION DETAILS
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Name : |
KOMPASS |
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Registered Office : |
F-37, North Western Industrial Zone, Port Qasim Authority,
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Country : |
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Financials (as on) : |
30.06.2012 |
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Year of Establishments: |
2007 |
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Com. Reg. No.: |
0059092 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer of Flexible Plastic Packaging material for
general as well as specialized use for industrial consumers, specially for
packing of liquids |
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No. of Employees |
280 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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 |
KOMPASS PAKISTAN (PVT) LIMITED
|
Registered Address
& Factory |
|
F-37, North Western Industrial Zone, Port Qasim Authority,
Karachi, Pakistan |
|
Tel # |
92 (21) 34154031, 34154042 |
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Fax # |
92 (21) 34154042 |
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Nature of Business |
The Company is engaged in the business
of manufacturing of Flexible Plastic Packaging material for general as well
as specialized use for industrial consumers, specially for packing of liquids |
|
Year Established |
2007 |
|
Registration # |
0059092 |
In Karachi & Lahore
Riaz Ahmed Saqib Gohar & Co.
(Chartered Accountants)
5-Nasim Cooperative Housing Society, Major Nazir Bhatti Road, Off: Shaheed-e-Millat Road, Karachi, Pakistan
Subject Company was established as a Private Limited Company
in 2007
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Authorized Capital |
Rs. 300,000,000/- |
|
Issued & Paid up Capital |
Rs. 180,000,000/- |
|
Names |
Designation |
|
Mr. Umair Jalil Mr. Hasan Jalil |
Chief Executive Director |
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Names |
No. of Shares |
|
Mr. Umair Jalil Mr. Hasan Jalil |
9,000,000 9,000,000 |
A. Subsidiary
None
B. Associated Companies
(1) Kompass Packaging, Pakistan.
The Company is engaged in the business of manufacturing of
Flexible Plastic Packaging material for general as well as specialized use for
industrial consumers, specially for packing of liquids
280
The capacity and production of the Company’s plant is
indeterminable as it is multi-product and involves varying processes of
manufacture
|
Years |
In Pak Rupees |
|
2011 2012 |
971,954,688/- 1,172,405,671/- |
(Foreign)
Subject mainly import from
Companies belongs to European Countries, Japan, Korea, Singapore, Taiwan,
Malaysia, U.A.E. & Saudi Arabia
Mainly Manufacturing Companies, Private Companies etc
(1) Habib Bank Limited, Pakistan.
(2) Summit Bank
Limited, Pakistan.
(3) Burj Bank
Limited, Pakistan.
(4) Soneri Bank
Limited, Pakistan.
(5) Bank Alfalah
Limited, Pakistan.
Sound
·
Federation Pakistan Chamber of Commerce &
Industry.(FPCCI)
Karachi
Chamber of Commerce & Industry.(KCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 105.65 |
|
UK Pound |
1 |
Rs. 176.00 |
|
Euro |
1 |
Rs. 145.00 |
Subject Company enjoys good reputation in Pakistan. Trade relations are reported as fair. Payments are usually correct and as per commitments. 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.62.07 |
|
UK Pound |
1 |
Rs.103.61 |
|
Euro |
1 |
Rs.85.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
|
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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 |
|
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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 |
|
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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 |
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-- |
NB |
New Business |
-- |
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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.