|
Report No. : |
336088 |
|
Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUNCROP (PRIVATE) LIMITED |
|
|
|
|
Formerly Known As : |
SUNCROP PESTICIDES (PVT) LIMITED |
|
|
|
|
Registered Office : |
39-C, Khayaban-e-Sarwar, Dera Ghazi Khan |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of Establishment : |
2000 |
|
|
|
|
Com. Reg. No.: |
0040878 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in formulation and marketing of crop
protection products such as insecticides, herbicides, fungicides, matricides |
|
|
|
|
No. of Employees : |
46 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
|
SUNCROP
(PRIVATE) LIMITED (FORMERLY: SUNCROP PESTICIDES (PVT) LIMITED) |
|
Registered
Address |
|
39-C, Khayaban-e-Sarwar, Dera
Ghazi Khan, Pakistan |
|
Tel # |
92 (64) 2470991, 2471198,
2463398 |
|
Fax # |
92 (64) 2460222 |
|
Email |
|
a. |
Nature of Business |
Formulation
and marketing of crop protection products such as insecticides, herbicides,
fungicides, matricides |
|
b. |
Year
Established |
2000 |
|
c. |
Registration No. |
0040878 |
639, Sundar Industrial Estate,
Raiwind Road, Lahore,
Pakistan
|
Subject Company was established as a Private Limited
Company in 2000 |
|
AUTHORIZED CAPITAL |
Rs.
1,000,000/- divided into 10,000 shares of Rs. 100/- each |
|
ISSUED & PAID
UP CAPITAL |
Rs. 30,000/-
divided into 300 shares of Rs. 100/- each |
|
Names |
Designation |
|
Mr. Sh. Zeeshan-Ul-Haq Mr. Ahmad
Bakhsh |
Chief Executive Director |
|
Names |
No. of Shares |
|
Mr. Sh. Zeeshan-Ul-Haq Mr. Ahmad
Bakhsh |
200 100 |
A. SUBSIDIARY
None
B. ASSOCIATED COMPANIES
- Do -
Subject Company is engaged in formulation and marketing of crop protection products such as insecticides, herbicides, fungicides, matricides.
It’s mainly import Pesticides Raw Materials to its trade suppliers globally.
Payments would be made through L/C, D/P basis.
It’s mainly import from China, Korea, Singapore, Jordan, Hong Kong & Malaysia.
Its major customers are Traders, Farmers, Government Organizations, Pesticide Companies
Subject operates from caption leased office & factory premises situated at commercial & industrial centers of Dera Ghazi Khan & Lahore.
Subject employs about 46 persons in its set up.
|
Year |
In Pak Rupees |
|
2014 |
35,000,000/-
(Estimated) |
|
Annual production volume is indeterminable as its mainly depend
upon the demand / requirements from their domestic customers |
|
Subject mainly import from
Companies belongs to China, Korea, Singapore, Jordan, Hong Kong & Malaysia |
|
(1) Bank
Alfalah Limited, Pakistan. (2) Habib
Bank Limited, Pakistan. (3)
Meezan Bank Limited, Pakistan. (4) The
Bank of Punjab, Pakistan. |
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 102.90 |
|
UK Pound |
1 |
Rs. 158.25 |
|
Euro |
1 |
Rs. 112.00 |
Subject
Company was established in 2000 and is engaged in formulation and marketing of
crop protection products such as insecticides, herbicides, fungicides,
matricides. 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.63.76 |
|
UK Pound |
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
TRU |
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.