|
Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
KESTRAL TRADING |
|
|
|
|
Registered Office : |
28 A/B, Street 41, F-7/1, Islamabad |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
2005 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Subject Company is the founding entity of the Kestral
Group which was established to realize the potential for different requirements
including consultancy, special program management and support services for
key projects, primarily for the Armed Forces of Pakistan. |
|
|
|
|
No. of Employees |
25 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 n and
healthcare, adapting to the effects of climate change and natural disasters,
and reducing dependence on foreign donors
|
Source
: CIA |
KESTRAL TRADING
|
Registered
Address |
|
28 A/B, Street 41, F-7/1, Islamabad, Pakistan |
|
Tel # |
92 (51) 2655790 - 96 (6 Lines) |
|
Fax # |
92 (51) 2609120 |
|
a. |
Nature of Business |
Kestral Trading is the founding entity of
the Kestral Group which was established to realize the potential for
different requirements including consultancy, special program management and
support services for key projects, primarily for the Armed Forces of Pakistan |
|
b. |
Year Established |
2005 |
None
|
Subject Company was established as a Proprietorship business in 2005 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Liaquat Ali Baig Mr. Salman Baig |
Pakistani Pakistani |
28/B, Street No. 41, F-7/1, Islamabad 28/B, Street No. 41, F-7/1, Islamabad |
Business Business |
Proprietor Manager (Import) |
A. Subsidiary
None
B. Associated Companies
(1) Kestral Holdings (Pvt)
Limited, Pakistan.
(2) Kestral SPD (Pvt) Limited,
Pakistan.
(3)
Kestral Logistics SMC (Pvt) Limited,
Pakistan.
(4) Pakistan
Facilities Management (SMC-Pvt) Ltd, Pakistan.
(5) Dazzle
Glass (Pvt) Limited, Pakistan.
(6) E Secure
Solutions (Pvt) Limited, Pakistan.
(7) Kase Power
(Pvt) Limited, Pakistan.
(8) Kestral Resources (Pvt) Ltd,
Pakistan.
(9) Global Response & Services
(Pvt.) Ltd, Pakistan.
(10) Kescon Engineering (Pvt) Ltd,
Pakistan.
(11) TASC Management Services (Pvt)
Ltd, Pakistan.
Subject Company is the founding entity of the Kestral Group
which was established to realize the potential for different requirements
including consultancy, special program management and support services for key
projects, primarily for the Armed Forces of Pakistan.
It’s mainly import
from Companies belongs to European Countries, U.S.A., U.K., Taiwan, Korea &
China.
Its major customers are Aviation Companies, Armed Forces of Pakistan.
Subject operates from caption leased office premises situated at residential area of Islamabad.
Subject employs about 25 persons in its set up.
LOCKHEED MARTIN, RAYTHEON, PRATT &
WHITNEY, DERCO AEROSPACE INC, GULFSTREAM, GOODRICH, CAVOTEC, GENERAL DYNAMICS,
FLIR, N-VISION OPTICS
|
Year |
In Pak Rupees |
|
2012 |
50,000,000/- (Estimated) |
(1) Bank Alfalah Limited, Pakistan.
(2) Standard Chartered Bank, Pakistan.
(3)
Habib
Bank Limited, Pakistan.
(4)
Soneri
Bank Limited, Pakistan.
(5)
Askari
Bank Limited, Pakistan.
(6)
KASB
Bank Limited, Pakistan.
1. Please verify the reputation and
structure of the company.
Answer: Company’s reputation is O.K. Main key person of the subject is
Mr. Liaquat Ali Baig.
2. Have there been
any problems with the US Foreign Corrupt Practices Act?
Answer: Not heard
by any authorities in Pakistan.
3. Have any public
liens been recorded?
Answer: No such
public liens have been recorded.
4. Any owners, employees, family members or board member in the military
or government?
Answer: The proprietor of the Company has good relationship / contacts
in government circles and in armed forces of Pakistan.
5. Any violation of country laws?
Answer: NONE
·
Rawalpindi Chamber of Commerce & Industry.(RCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 99.60 |
|
UK Pound |
1 |
Rs.
167.75 |
|
Euro |
1 |
Rs.
135.75 |
Subject Company
was established in 2005 and is the founding entity of the Kestral Group which
was established to realize the potential for different requirements including
consultancy, special program management and support services for key projects,
primarily for the Armed Forces of Pakistan. Overall reputation is satisfactory. Trade relations are reported as
fair. Subject can be considered for moderate business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.07 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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%)
|
Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
KESTRAL TRADING |
|
|
|
|
Registered Office : |
28 A/B, Street 41, F-7/1, Islamabad |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
2005 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Subject Company is the founding entity of the Kestral
Group which was established to realize the potential for different
requirements including consultancy, special program management and support
services for key projects, primarily for the Armed Forces of Pakistan. |
|
|
|
|
No. of Employees |
25 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
|
Source
: CIA |
KESTRAL TRADING
|
Registered
Address |
|
28 A/B, Street 41, F-7/1, Islamabad, Pakistan |
|
Tel # |
92 (51) 2655790 - 96 (6 Lines) |
|
Fax # |
92 (51) 2609120 |
|
a. |
Nature of Business |
Kestral Trading is the founding entity of
the Kestral Group which was established to realize the potential for
different requirements including consultancy, special program management and support
services for key projects, primarily for the Armed Forces of Pakistan |
|
b. |
Year Established |
2005 |
None
|
Subject Company was established as a Proprietorship business in 2005 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Liaquat Ali Baig Mr. Salman Baig |
Pakistani Pakistani |
28/B, Street No. 41, F-7/1, Islamabad 28/B, Street No. 41, F-7/1, Islamabad |
Business Business |
Proprietor Manager (Import) |
A. Subsidiary
None
B. Associated Companies
(3) Kestral Holdings (Pvt)
Limited, Pakistan.
(4) Kestral SPD (Pvt) Limited,
Pakistan.
(3)
Kestral Logistics SMC (Pvt) Limited,
Pakistan.
(4) Pakistan
Facilities Management (SMC-Pvt) Ltd, Pakistan.
(5) Dazzle
Glass (Pvt) Limited, Pakistan.
(6) E Secure
Solutions (Pvt) Limited, Pakistan.
(7) Kase Power
(Pvt) Limited, Pakistan.
(8) Kestral Resources (Pvt) Ltd,
Pakistan.
(9) Global Response & Services
(Pvt.) Ltd, Pakistan.
(10) Kescon Engineering (Pvt) Ltd,
Pakistan.
(11) TASC Management Services (Pvt)
Ltd, Pakistan.
Subject Company is the founding entity of the Kestral Group
which was established to realize the potential for different requirements including
consultancy, special program management and support services for key projects,
primarily for the Armed Forces of Pakistan.
It’s mainly import
from Companies belongs to European Countries, U.S.A., U.K., Taiwan, Korea &
China.
Its major customers are Aviation Companies, Armed Forces of Pakistan.
Subject operates from caption leased office premises situated at residential area of Islamabad.
Subject employs about 25 persons in its set up.
LOCKHEED MARTIN, RAYTHEON, PRATT & WHITNEY,
DERCO AEROSPACE INC, GULFSTREAM, GOODRICH, CAVOTEC, GENERAL DYNAMICS, FLIR,
N-VISION OPTICS
|
Year |
In Pak Rupees |
|
2012 |
50,000,000/- (Estimated) |
(7) Bank Alfalah Limited, Pakistan.
(8) Standard Chartered Bank, Pakistan.
(9)
Habib
Bank Limited, Pakistan.
(10) Soneri Bank Limited, Pakistan.
(11) Askari Bank Limited, Pakistan.
(12) KASB Bank Limited, Pakistan.
1. Please verify the reputation and
structure of the company.
Answer: Company’s reputation is O.K. Main key person of the subject is
Mr. Liaquat Ali Baig.
2. Have there been
any problems with the US Foreign Corrupt Practices Act?
Answer: Not heard
by any authorities in Pakistan.
3. Have any public
liens been recorded?
Answer: No such
public liens have been recorded.
4. Any owners, employees, family members or board member in the military
or government?
Answer: The proprietor of the Company has good relationship / contacts
in government circles and in armed forces of Pakistan.
5. Any violation of country laws?
Answer: NONE
·
Rawalpindi Chamber of Commerce & Industry.(RCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 99.60 |
|
UK Pound |
1 |
Rs. 167.75 |
|
Euro |
1 |
Rs.
135.75 |
Subject Company
was established in 2005 and is the founding entity of the Kestral Group which
was established to realize the potential for different requirements including consultancy,
special program management and support services for key projects, primarily for
the Armed Forces of Pakistan. Overall
reputation is satisfactory. Trade relations are reported as fair. Subject can
be considered for moderate business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.07 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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%)