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Report No. : |
352996 |
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Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
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Name : |
WATT N VOLT |
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Registered Office : |
18 K.M., |
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Country : |
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Date of Incorporation : |
12.07.2000 |
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Legal Form : |
Partnership |
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Line of Business : |
Industrial Electrification and Automation Company is part of a leading
Design, Engineering, Supply, Installation, Commissioning and turnkey project
execution group. Our expertise is embedded in the manufacturing of PLC and
power panels, systems integration, synchronization and bump-less power
transfers. Our in-house stainless steel fabrication and powder-coat painting
facilities along with Mechanical shops enable us to manufacture state of the
art products at the highest international level. |
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No. of Employees : |
80 |
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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Pakistan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 exports has 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 the mid-2000s, 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 sectors 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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Business Name |
WATT N VOLT |
Registered Address
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18 K.M., Ferozpur Road, Lahore, Pakistan |
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Tel # |
92 (42) 35401829, 35820296 |
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Fax # |
92 (42) 35820830 |
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a. |
Nature of Business |
Industrial Electrification and Automation Company is part of a leading
Design, Engineering, Supply, Installation, Commissioning and turnkey project execution
group. Our expertise is embedded in the manufacturing of PLC and power
panels, systems integration, synchronization and bump-less power transfers.
Our in-house stainless steel fabrication and powder-coat painting facilities
along with Mechanical shops enable us to manufacture state of the art
products at the highest international level |
|
b. |
Year Established |
12th July, 2000 |
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c. |
National Tax # |
1736332-2 |
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None |
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Subject Company was established as a Partnership business in 12th July, 2000 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Zakir Mr. Tahir Rasool |
Pakistani Pakistani |
18 K.M., Ferozpur
Road, Lahore 18 K.M.,
Ferozpur Road, Lahore |
Business Business |
CEO / Managing
Partner Partner |
|
None |
Subject Company is basically an Industrial Electrification and Automation
Company is part of a leading Design, Engineering, Supply, Installation,
Commissioning and turnkey project execution group. its expertise is embedded in
the manufacturing of PLC and power panels, systems integration, synchronization
and bump-less power transfers. Its in-house stainless steel fabrication and
powder-coat painting facilities along with Mechanical shops enable us to
manufacture state of the art products at the highest international level.
Local sales are mostly on cash term basis to its domestic customers.
Its import globally from Companies
belongs to China, Hong Kong, Singapore, U.K., Japan, Taiwan & European
Countries.
Its major customers are Private Companies, Distribution Companies,
Manufacturing Companies etc.
Subject operates from caption leased office & factory premises
situated at industrial area of Lahore.
Subject employs about 80
persons in its set up.
|
Year |
In Pak Rupees |
|
2014 |
120,000,000/- (Estimated) |
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Subject import
globally from Companies belongs to China, Hong Kong,
Singapore, U.K., Japan, Taiwan & European Countries |
|
(1) Faysal Bank Limited, Pakistan. (2) Habib Bank Limited, Pakistan. (3) Bank Alfalah Limited, Pakistan. (4) MCB Bank Limited, Pakistan. |
·
Lahore Chamber of Commerce & Industry.(LCCI)
·
Pakistan Engineering Council.(PEC)
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Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 105.90 |
|
UK Pound |
1 |
Rs. 161.50 |
|
Euro |
1 |
Rs. 113.50 |
Subject Company was established in 12th July, 2000. Overall
reputation is satisfactory. Management is reported as qualified & experienced
professional in their respected fields. 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.66.75 |
|
|
1 |
Rs.100.29 |
|
Euro |
1 |
Rs.72.89 |
|
PAK |
1 |
Rs.0.64 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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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.