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Report No. : |
319039 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
GENERAL IMPEX |
|
|
|
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Registered Office : |
N.P. 11/28, Ground Floor, Sheikh House, Hazrat Imam Hasan Street, Jodia Bazar, Karachi |
|
|
|
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Country : |
Pakistan |
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Year of Establishment : |
1988 |
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|
|
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Legal Form : |
Proprietorship |
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|
|
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Line of Business : |
Import, Export & Trading of Commodities including Rice, Pulses, Cheak
Peas, Beans, Lentils. |
|
|
|
|
No. of Employees : |
10 |
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 |
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|
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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.
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-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 |
GENERAL IMPEX
|
|
Registered
Address |
|
N.P. 11/28, Ground Floor, Sheikh House, Hazrat Imam Hasan Street,
Jodia Bazar, Karachi, Pakistan |
|
Tel # |
92 (21) 32524961, 32546326, 32546146,
+923212448287 |
|
Fax # |
92 (21) 32536913 |
|
Email |
|
a. |
Nature of
Business |
Import, Export & Trading of
Commodities including Rice, Pulses, Cheak Peas, Beans, Lentils |
|
b. |
Year Established |
1988 |
|
c. |
National Tax No. |
0275245 |
|
Subject Company was established as a
Proprietorship business in 1988 |
|
Names |
Address |
Occupation |
Designation |
|
Mr. Aziz Hasan Jillani |
N.P. 11/28, Ground Floor, Sheikh House, Hazrat Imam Hasan Street,
Jodia Bazar, Karachi |
Business |
Proprietor |
A. Subsidiary
None
B. Associated
Companies
- Do -
Import, Export & Trading of Commodities including Rice, Pulses,
Cheak Peas, Beans, Lentils
10
|
Year |
In Pak Rupees |
|
2013 |
45,000,000/- (Estimated) |
Subject mainly import from
Companies belongs to China, India, Canada, Australia, Portugal, Ukraine,
Vietnam & Spain
|
Mainly Traders, Retailers, Food Companies
etc |
(1) MCB Bank Limited,
Pakistan.
(2) Meezan Bank
Limited, Pakistan.
(3) Bank Alhabib Limited,
Pakistan.
(4) Bank Alfalah
Limited, Pakistan.
·
Karachi Chamber of
Commerce & Industry.(KCCI)
·
Rice Exporters
Association, Pakistan.(REAP)
·
Karachi Wholesale
Grocers Association.(KWGA)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 102.50 |
|
UK Pound |
1 |
Rs. 152.75 |
|
Euro |
1 |
Rs. 109.75 |
Subject Company was established in 1988 and
is engaged in import, export & trading of Commodities including Rice, Pulses,
Cheak Peas, Beans, Lentils. Market 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.63.33 |
|
|
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.