MIRA INFORM REPORT

Report Date :

20.11.2014

IDENTIFICATION DETAILS

Name :	INTECH PROCESS AUTOMATION (PVT) LIMITED

Registered Office :	315 H-III, Muhammad Ali Johar Town Lahore Punjab 54590

Country :	Pakistan

Date of Incorporation :	2001

Com. Reg. No.:	0043150

Legal Form :	Private Limited Company

Line of Business :	Subject is engaged in providing control systems services ranging from front end design and consulting to commissioning, maintenance and training support to industries such as Oil and Gas, Petro-Chemical, Chemical and other Processes industries throughout the world.

No. of Employees :	50

RATING & COMMENTS

MIRA’s Rating :

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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Pakistan

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 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

Business Name

INTECH PROCESS AUTOMATION (PVT) LIMITED

Full Address

Registered Address

315 H-III, Muhammad Ali Johar Town Lahore Punjab 54590

Tel #	92 (42) 111-468-324
Fax #	92 (42) 35314149

Short Description Of Business

a.	Nature of Business	Engaged in providing control systems services ranging from front end design and consulting to commissioning, maintenance and training support to industries such as Oil and Gas, Petro-Chemical, Chemical and other Processes industries throughout the world.
b.	Year Established	2001
c.	Registration #	0043150

Branches

119-B, Tech Society, Lahore, Pakistan

Auditors

Usman Zubair & Co.

(Chartered Accountants)

3-E, 1^st Floor, Ijaz Arcade, Gulberg III, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 2001

Capital

Authorized Capital	Rs. 500,000/-
Issued & Paid up Capital	Rs. 50,000/-

Details of Chief Executive/ Directors

Names

Nationality

Address

Occupation

Designation

Mr. Sohail Qadir

Mr. Jamal Nasir

Mr. Syed Asad Ehsan Kazmi

Pakistani

119-B, Tech Society, Lahore

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Kala Khan

Mr. Khalil Humayun

Mrs. Samina Khalil

Mr. Azhar Rais

Mrs. Saba Rais

Mr. Sohail Qadir

Mrs. Tabinda Manzoor

Mrs. Rukhsana Jamal

Mr. Usman Qadir

Mr. Syed Asad Ehsan Kazmi

Mr. Jamal Nasir

Mr. Manzoor Ahmad Siddique

Associates

A. Subsidiary

None

B. Associated Companies

(1) Infotech Asia (Private) Limited, Pakistan.

Business Activities

Engaged in providing control systems services ranging from front end design and consulting to commissioning, maintenance and training support to industries such as Oil and Gas, Petro-Chemical, Chemical and other Processes industries throughout the world

Number of Employees

Trade Suppliers (Foreign)

(1) ALLEN-BRADLEY, U.S.A.

(2) SCHNEIDER ELECTRIC, FRANCE.

(3) GEFANUC, U.S.A.

(4) SIEMENS, GERMANY.

(5) BERNECKER & RAINER, U.K.

Annual Sales Volume

Year	In Pak Rupees
2013	80,000,000/- (Estimated)

Customers

Mainly Oil & Gas Companies, Petrochemical Companies, Cement Plants etc

Bankers

(1) Bank Alfalah Limited, Pakistan.

(2) Standard Chartered Bank, Pakistan.

(3) Habib Metropolitan Bank Limited, Pakistan.

(4) Askari Bank Limited, Pakistan.

Memberships

· Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 103.20
UK Pound	1	Rs. 166.25
Euro	1	Rs. 131.15

Comments

Subject Company was established in 2001 and is engaged in providing control systems services ranging from front end design and consulting to commissioning, maintenance and training support to industries such as Oil and Gas, Petro-Chemical, Chemical and other Processes industries throughout the world. Directors are reported as qualified, resourceful & experienced professionals. Trade relations are reported as fair. Company can be considered for normal business dealings at usual trade terms and conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.83
UK Pound	1	Rs.96.56
Euro	1	Rs.77.42

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	NIT

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%)

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