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Report No. : |
315739 |
|
Report Date : |
06.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
P&S CARGO SERVICES (PVT) LIMITED |
|
|
|
|
Registered Office : |
A/3, Madina Street, Near Masjid Charagh Shatab Ghar Road, Sialkot |
|
|
|
|
Country : |
Pakistan |
|
|
|
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Date of Incorporation : |
2010 |
|
|
|
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Com. Reg. No.: |
0073817 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
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Line of Business : |
Freight Forwarding Company |
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|
|
|
No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
Payment Behaviour : |
Slow but correct |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Pakistan |
B1 |
B1 |
|
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 |
P&S CARGO SERVICES
(PVT) LIMITED
|
Registered
Address |
|
A/3, Madina Street, Near Masjid Charagh
Shatab Ghar Road, Sialkot, Pakistan |
|
Tel # |
92 (52) 3555205, 3563705 |
|
Fax # |
92 (52) 3563705 |
|
a. |
Nature of Business |
Freight Forwarding Company |
|
b. |
Year Established |
2010 |
|
c. |
Registration No. |
0073817 |
|
None |
|
Aslam Malik & Co. (Chartered
Accountants) Suit No. 18-19, First Floor, Central Plaza, Barkat
Market, New Garden Town, Lahore, Pakistan |
|
Subject Company was established as a Private Limited Company in 2010 |
|
Authorized Capital |
Rs. 10,000,000/- divided into 100,000 shares
of Rs. 100/- each |
|
Issued & Paid up Capital |
Rs. 6,000,000/- divided into 60,000 shares
of Rs. 100/- each |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Siddique Mr. Muhammad Rafique Mr. Pervaiz Iqbal |
Pakistani Pakistani Pakistani |
A/3, Madina Street, Near Masjid Charagh
Shatab Ghar Road, Sialkot A/3, Madina Street, Near Masjid Charagh
Shatab Ghar Road, Sialkot A/3, Madina Street, Near Masjid Charagh
Shatab Ghar Road, Sialkot |
Business Business Business |
Chief Executive Director Director |
|
Names |
No. of Shares |
|
Mr. Muhammad Siddique Mr. Muhammad Rafique Mr. Pervaiz Iqbal |
20,000 20,000 20,000 |
A. Subsidiary
None
B. Associated Companies
- Do -
Ocean Freight Forwarding, Air / Sea Freight forwarding, Warehousing
& Distribution Facilities, Customs Clearance, Shipping Agency / Liner / Tremp
/ Charter Business, Stevedoring Contractors and
Terminal operators, Project Cargo handling, Containers Freight Station,
NVOCC Consolidation services,
Transit Containers / Project handling special for Afghanistan, Off Dock
Containers Terminal, Owners Protecting / Husbandry services, Inland
Transportation of General/Containerized Cargos, Heavy Lift Haulage, Packing,
Storage and Distribution, Train and Land Haulage, Custom Documentation
12
|
Year |
In Pak Rupees |
|
2014 |
10,000,000/- (Estimated) |
|
Mainly Import / Export Companies, Manufacturing Companies, Trading
Companies etc |
NIB Bank Limited, Pakistan.
Askari Bank Limited, Pakistan.
Bank Alfalah Limited, Pakistan.
Soneri Bank Limited, Pakistan.
P.I.F.F.C.
F.I.A.T.A.
A.C.A.A.P.
SCCI
|
Currency |
Unit |
Pakistani Rupees |
|
US Dollar |
1 |
Rs. 102.65 |
|
UK Pound |
1 |
Rs. 152.50 |
|
Euro |
1 |
Rs. 110.25 |
Subject Company was established in 2010 and is engaged in freight forwarding business. Trade
relations are reported as fair. Subject can be considered for moderate business
engagements at usual trade terms and conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.