|
Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAGAR INTERNATIONAL |
|
|
|
|
Registered Office : |
Room No. 203, 2nd Floor, Hussain Trade Centre, New Challi, Karachi |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of Establishment : |
2008 |
|
|
|
|
Legal Form : |
Proprietorship business |
|
|
|
|
Line of Business : |
Importer & Trader of Commodities, Food Products |
|
|
|
|
No of Employees : |
5 persons |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
SAGAR INTERNATIONAL
|
Registered Address |
|
Room No. 203, 2nd
Floor, Hussain Trade Centre, New Challi, Karachi, Pakistan |
|
Tel # |
92 (21) 32217402 |
|
Fax # |
92 (21) 32217403 |
|
Email |
|
a. |
Nature of Business |
Import & Trading of Commodities, Food
Products |
|
b. |
Year Established |
2008 |
None
Subject Company was established as a Proprietorship business in 2008
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Dileep Kumar |
Pakistani |
Room No. 203, 2nd Floor, Hussain Trade Centre, New Challi,
Karachi |
Business |
Proprietor |
(1) Sagar Enterprises, Pakistan
Subject Company is engaged in import
& trading of Commodities, Food Products.
It purchases against L/C, D/A
basis.
It sells against Credit term basis to its local customers.
It’s mainly import from China,
India, Vietnam, Hong Kong, Ukraine & Thailand.
Its major customers are Retailers,
Private Companies etc.
Subject operates from caption leased office premises measuring 550
Sq.ft. situated at commercial area of Karachi.
Subject employs about 5
persons in its set up.
|
Year |
In Pak Rupees |
|
2012 |
12,000,000/- (Estimated) |
Subject mainly import from Companies belongs to China, India, Vietnam, Hong Kong, Ukraine & Thailand
·
Bank Al-Habib Limited,
Pakistan.
·
Meezan Bank Limited,
Pakistan.
·
Bank Alfalah Limited,
Pakistan.
·
Faysal Bank Limited,
Pakistan.
|
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 2008 and is engaged in import & trading of Commodities, Food 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. 59.07 |
|
|
1 |
Rs. 99.20 |
|
Euro |
1 |
Rs. 80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.