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Report Date : |
07.03.2014 |
IDENTIFICATION DETAILS
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Name : |
AGRO ALLIANZ (PVT) LIMITED |
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Registered Office : |
Suite No. 701,
Block A, Saima Trade Tower, I.I. Chundrigar Road, Karachi, |
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Country : |
Pakistan |
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Date of Incorporation : |
2013 |
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Com. Reg. No.: |
0082459 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged
in Import, Manufacture & Trading of Agro Chemical Products |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 |
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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 was 6.6% in 2013, 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. 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 the following two years, 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 3.5% per year from 2008 to 2013. 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
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Source
: CIA |
AGRO ALLIANZ (PVT)
LIMITED
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Registered Address |
|
Suite No. 701,
Block A, Saima Trade Tower, I.I. Chundrigar Road, Karachi, Pakistan |
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Tel # |
92 (21) 32272107, 32272109 |
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Fax # |
92 (21) 32272109 |
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a. |
Nature of Business |
Engaged in Import, Manufacture & Trading of Agro Chemical Products |
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b. |
Year Established |
2013 |
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c. |
Registration # |
0082459 |
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Currently Company
has a plan to setup factory premises in industrial area at Karachi |
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Feroz Aziz & Company (Chartered Accountants) 211, 2nd Floor, Business Arcade, Block – 6, PECHS, Karachi, Pakistan |
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Subject Company was established as a Private Limited Company in 2013 |
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6. |
Authorised Capital |
Rs. 200,000,000/- |
|
|
Issued & Paid up Capital |
Rs. 150,000,000/- |
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Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Sheikh Ali Baakza Mr. Muhammad Farrukh Mr. Abdul Majeed Gaziani Mr. Muhammad Zain Sardar |
Pakistani Pakistani Pakistani Pakistani |
Suite No. 701,
Block A, Saima Trade Tower, I.I. Chundrigar Road, Karachi Suite No. 701,
Block A, Saima Trade Tower, I.I. Chundrigar Road, Karachi Suite No. 701,
Block A, Saima Trade Tower, I.I. Chundrigar Road, Karachi Suite No. 701,
Block A, Saima Trade Tower, I.I. Chundrigar Road, Karachi |
Business Business Business Business |
Chief Executive Director Director Director |
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Names |
No. of Shares |
|
Mr. Sheikh Ali Baakza Mr. Muhammad Farrukh Mr. Abdul Majeed Gaziani Mr. Muhammad Zain Sardar |
74,999 37,500 37,500 1 |
A. Subsidiary
None
B. Associated
Companies
Al-Akza Corporation, Pakistan.
United Resources Corporation,
Pakistan.
Crystal Commodities, Pakistan.
Amin Industries, Pakistan.
Porstar Enterprise, Pakistan.
Unicorn Consultants, Pakistan.
Subject Company is engaged in import, manufacture & trading of Agro Chemical Products.
It’s mainly import through L/C, D/A, D/P basis.
It sells its product through cash / credit terms in local markets
Its main customers are Traders, Farmers, Government Organizations, Pesticide Companies etc.
Subject operates from caption leased office premises situated at commercial area of Karachi.
Subject employs about 20 persons in its set up.
|
Year |
In Pak Rupees |
|
2013 |
Not ascertained as
the subject is a new Company |
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Subject mainly import from Companies belongs to China, Korea, India & European Countries |
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(1) MCB Bank Limited,
Pakistan. (Mortgage obtained PKR:
400,000,000/-) (2) Silk Bank Limited,
Pakistan. (3) Bank Alfalah
Limited, Pakistan. (4) KASB Bank Limited,
Pakistan. |
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Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 105.55 |
|
UK Pound |
1 |
Rs. 175.65 |
|
Euro |
1 |
Rs. 144.25 |
Subject Company was established in 2013 and is engaged in import, manufacture & trading of Agro Chemical Products. 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.61.32 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.84.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
|
-- |
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.