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Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
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Name : |
PRINTEX |
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Registered Office : |
549-N, Sabzazar Scheme, Near Makkah Chowk, |
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Country : |
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Date of Incorporation : |
2006 |
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Legal Form : |
Partnership |
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Line of Business : |
Supplier of screen printing textile inks and many other related textile
printing auxiliaries. |
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No. of Employees : |
22 Persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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.
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 |
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PRINTEX |
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Registered
Address |
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549-N, Sabzazar Scheme, Near Makkah Chowk, Lahore, Pakistan |
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Tel # |
92 (42) 35972698, 35972699 |
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Fax # |
92 (42) 35972697 |
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Email |
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a. |
Nature of Business |
Leading supplier of screen printing
textile inks and many other related textile printing auxiliaries |
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b. |
Year Established |
2006 |
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c. |
National Tax No. |
3218209 - 7 |
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Address |
110, H-Block, Gulistan Colony No. 1, Hashmat Chowk, Faisalabad,
Pakistan |
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Tel No. |
92 (41) 2008868 |
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Fax No. |
92 (41) 8780359 |
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Subject Company was established as a Partnership business in 2006 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Mustafa Kamal Mr. Anjum Iqbal |
Pakistani Pakistani |
549-N, Sabzazar
Scheme, Near Makkah Chowk, Lahore 549-N, Sabzazar
Scheme, Near Makkah Chowk, Lahore |
Business Business |
Managing Partner Partner |
Subsidiary - None
Associated Companies
(1) Printex Chemicals (Pvt) Limited,
Pakistan.
(2) Printex
Trading Company, Pakistan.
(3) Printex World,
Pakistan.
(4) Printwell,
Pakistan.
(5) Texstyles,
Pakistan.
(6) Printex
Global, Pakistan.
Subject Company is leading supplier of screen printing textile inks and
many other related textile printing auxiliaries.
It purchases raw materials against L/C, D/P basis.
It sells against cash / credit term basis to its local customers.
It’s mainly import from U.K., European Countries, Korea, Taiwan,
Singapore & Malaysia.
Its major customers are Textile Manufacturers, Garments Manufacturers,
Private Companies etc
Subject operates from caption leased office premises situated at
commercial centers of Lahore & Faisalabad.
Subject employs about 22
persons in its set up.
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PRINT COREX
S.L., ABIFOR LTD, FUJIFILM SERICOL, DTG DIGITAL, S.ROQUE, NAZDAR |
|
Year |
In Pak Rupees |
|
2013 |
100,000,000/- (Estimated) |
(1)
Bank Al-Habib Limited, Pakistan.
(2)
Faysal Bank Limited, Pakistan.
(3)
Habib Bank Limited, Pakistan.
(4)
Meezan Bank Limited, Pakistan.
·
Lahore Chamber of Commerce & Industry.(LCCI)
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Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 102.65 |
|
UK Pound |
1 |
Rs. 166.50 |
|
Euro |
1 |
Rs. 132.75 |
Subject Company was established in 2006 and is
a leading supplier of screen printing textile inks and many other related
textile printing auxiliaries. Overall reputation is satisfactory. 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.60.87 |
|
|
1 |
Rs.99.63 |
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Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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 |
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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 |
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<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.