MIRA INFORM REPORT

Report No. :	317667
Report Date :	20.04.2015

IDENTIFICATION DETAILS

Name :	MARRIANA INTERNATIONAL

Registered Office :	Abdullah Square, 43/1/H, Block-6, Main Razi Road, P.E.C.H.S. Karachi-75400

Country :	Pakistan

Year of Establishment :	2002

Legal Form :	Partnership

Line of Business :	Manufacture & Export of Dental Cream, Shaving Cream, Hair Colour, Bleach Cream & Herbal Toothpaste.

No. of Employees :	400

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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-fourth of output and two-fifths of employment. Textiles account for most of Pakistan's export earnings, and Pakistan's failure to diversify its exportshas left the country vulnerable to shifts in world demand. Official unemployment was 6.9% in 2014, but this fails to capture the true picture, because much of the economy is informal and underemployment remains high. Pakistan’s human development continues to lag behind most of the region.. As a result of political and macroeconomic instability, the Pakistani rupee has depreciated more than 40% since 2007. The government agreed to an International Monetary Fund Standby Arrangement in November 2008 to preventa balance of payments crisis, but the IMF ended the Arrangement early because of Pakistan’s failure to implement required reforms. The economy has stabilized, it continues to underperform and foreign investment has not returned to levels seen during themid-2000’s, due to investor concerns related to governance, electricity shortages, , and a slow-down in the global economy. Remittances from overseas workers, averaging more than$1 billion a month, remain a bright spot for Pakistan. After a small current account surplus in fiscal year 2011 (July 2010/June 2011), Pakistan's current account turned to a deficit where it remained through 2014, spurred by higher prices for imported oil and lower prices for exported cotton. In September 2013, after facing balance of payments concerns, Pakistan entered into a three-year, $6.7 billion IMF Extended Fund Facility. The Sharif government has since made modest progress implementing fiscal and energy reforms, and in December 2014 the IMF described Pakistan’s progress as “broadly on track.” Pakistan remains stuck in a low-income, low-growth trap, with growth averaging about 3.5% per year from 2008 to 2014. Pakistan must address long standing issues related to government revenues and the electricity and natural gas sectorsin 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

MARRIANA INTERNATIONAL

Full Address

Registered Address	Factory Address
Abdullah Square, 43/1/H, Block-6, Main Razi Road, P.E.C.H.S. Karachi-75400, Pakistan.	Plot No. 7, Sector No. 23, Korangi Industrial Area, Karachi-74900, Pakistan.

Tel #	92 (21) 34536424, 34536430, 34536424, 34536425, 34536426		Tel #	92 (21) 35062812, 35062813, 35062814
Fax #	92 (21) 34557379		Fax #	92 (21) 35062893

Short Description Of Business

Nature of Business

Engaged in manufacture & export of Dental Cream, Shaving Cream,

Hair Colour, Bleach Cream & Herbal Toothpaste

Year Established

2002

National Tax No.

1484535 – 7

Branches

148-Garden Block, Garden

Town, Lahore, Pakistan

Legal Status

Subject Company was established as a Partnership business in 2002

Details of Managing Partner / partners

Names

Nationality

Address

Occupation

Designation

Mr. Khalil Ahmed Nanitalwala

Mr. Salman Khalil

Mr. Khurram Khalil

Mr. Junaid Khalil

Pakistani

53, Faran Housing Society, Shaheed -e- Millat Road, Karachi.

Business

Managing Partner

Partner

Associates

A. Subsidiary

None

B. Associated Companies

(1) W.Woodwards Pak (Pvt.) Ltd, Pakistan.

(2) Chas .A. Mendoza, Pakistan.

(3) KN Academy, Pakistan.

Business Activities

Engaged in manufacture & export of Dental Cream, Shaving Cream, Hair Colour, Bleach Cream & Herbal Toothpaste by its brand names of MEDICAM, TOUCHME, ITALIANO

Number of Employees

400

NOTE:

The above figure has been obtained from indirect sources other than the company.

Annual Production Volume

The capacity and production of the company’s plant is indeterminable as it is multi-products and involves varying processes of manufacture

Annual Sales Volume

Year	In Pak Rupees
2013	1,000,0000,000/- (Estimated)

Distribution Network

Mainly exist at major cities of Pakistan

Exports

Year	In Pak Rupees
2014	450,000,000/- (Estimated)

Export to

Mainly to Saudi Arabia, Qatar, Srilanka, U.A.E. & European Countries

Bankers

(1) MCB Bank Limited, Pakistan.

(2) Bank Alfalah Limited, Pakistan.

(3) Habib Bank Limited, Pakistan.

(4) Allied Bank Limited, Pakistan.

(5) Standard Chartered Bank, Pakistan.

Memberships

· KCCI

· FPCCI

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 102.40
UK Pound	1	Rs. 150.50
Euro	1	Rs. 108.50

Comments

Mendoza Group of Companies enjoys very good reputation and well connected peoples. Directors are highly respectable, well experienced, resourceful and influential in the Government as well as in the Political circles. Trade relations are reported as fair. Subject can be considered for normal business dealing at usual trade terms and conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.35
UK Pound	1	Rs.93.10
Euro	1	Rs.67.13

INFORMATION DETAILS

Analysis Done by :	KAR

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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