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Report No. : |
307237 |
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Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
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Name : |
CRESCENT COLOURS |
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Formerly Known As : |
COLOURTEX DYES & CHEMICALS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1993 |
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Legal Form : |
Proprietorship Business |
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Line of Business : |
Import & Trading of Textile Chemicals, Dyes & Pigments,
Industrial Chemicals. |
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No. of Employee : |
14 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small company |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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-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.
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Source
: CIA |
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CRESCENT COLOURS (FORMERLY: COLOURTEX DYES & CHEMICALS) |
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Registered Address |
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69 - Circular Road,
Lahore, Pakistan |
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Tel # |
92 (42) 37672520, 37672530, 37672540, 37672539 |
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Fax # |
92 (42) 37651275 |
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Email |
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a. |
Nature of Business |
Import & Trading of Textile Chemicals, Dyes & Pigments,
Industrial Chemicals etc |
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b. |
Year Established |
1993 |
Room No. 9, 1st Floor, Chemical
Chamber, Jodia Bazar, Karachi,
Pakistan
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Subject Company was established as a Proprietorship business in 1993 |
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Names |
Nationality |
Address |
Occupation |
Designation |
|
Mrs. Amina Saeed Mr. Muhammad Saeed |
Pakistani Pakistani |
69 - Circular Road,
Lahore 69 - Circular Road, Lahore |
Business Business |
Proprietor Manager (Import) |
A. Subsidiary
None
B. Associated Companies
- Do -
Subject Company is engaged in import & trading of Textile Chemicals,
Dyes & Pigments, Industrial Chemicals
It purchases raw material against L/C, D/P basis.
It sells against Cash / Credit term basis to its local customers.
Its major customers are Textile Companies, Indenting Companies, Trading
Companies.
Subject operates from caption leased office premises situated at
commercial centers of Karachi & Lahore.
Subject employs about 14 persons in its set up.
Mainly from Korea, India, China, Singapore, Taiwan, Indonesia, Thailand
& European Countries
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Year |
In Pak Rupees |
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2013 |
45,000,000/- (Estimated) |
(1) Faysal Bank Limited, Pakistan.
(2) United Bank Limited, Pakistan.
(3) Habib Bank Limited, Pakistan.
(4) Soneri Bank Limited, Pakistan.
(5) Allied Bank Limited, Pakistan.
Lahore Chamber of Commerce & Industry.(
Karachi Chamber of Commerce & Industry.(KCCI)
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Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 101.70 |
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UK Pound |
1 |
Rs. 152.75 |
|
Euro |
1 |
Rs. 115.00 |
Subject Company was established in 1993 and is
engaged in import & trading business. Overall reputation is normal. 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.62.43 |
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|
1 |
Rs.95.02 |
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Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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 |
-- |
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.