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Report No. : |
307334 |
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Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
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Name : |
MASTER PLASTIC PACK LIMITED |
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Registered Office : |
Near Master Square, |
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Country : |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
0045657 |
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Legal Form : |
Non Listed Public Limited Company |
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Line of Business : |
Manufacturing of Poly Propylene, Bio Oriented Poly Propylene, PVC, PET
and all kinds of Plastic Films |
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No. of Employees : |
140 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
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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-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.
|
Source
: CIA |
MASTER PLASTIC PACK LIMITED
|
Registered Address |
|
Near Master Square, G.T. Road, Gujranwala, Pakistan |
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Tel # |
92 (55) 4290222, 4290333 |
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Fax # |
92 (55) 4290111 |
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a. |
Nature of Business |
The principal activity of the Company is the manufacturing of Poly
Propylene, Bio Oriented Poly Propylene,
PVC, PET and all kinds of Plastic Films |
|
b. |
Year Established |
2003 |
|
c. |
Registration # |
0045657 |
None
|
Akhter Mahmood Mian (Chartered Accountants) Flat No. 2, 5th Floor, Sharjah Centre, 62-Shadman Market, Lahore,
Pakistan |
|
Subject Company was established as a Non-Listed Public Limited Company
in 2003 |
|
Authorized Capital |
Rs. 100,000,000/- divided into 10,000,000
shares of Rs. 10/- each |
|
Issued & Paid up Capital |
Rs. 100,000,000/- divided into 10,000,000
shares of Rs. 10/- each |
|
Names |
Designation |
|
Mr. Sheikh Pervaiz Iqbal Mr. Sheikh Kamran Pervaiz Mst. Zareena Begum Mr. Sheikh Naeem Pervaiz |
Chief Executive Director Director Director |
|
Names |
No. of Shares |
|
Mr. Sheikh Pervaiz Iqbal Mr. Sheikh Kamran Pervaiz Mst. Zareena Begum Mr. Sheikh Naeem Pervaiz |
7,973,334 1,013,333 13,333 1,000,000 |
A. Subsidiary
None
B. Associated
Companies
(1) Master Plastic Films, Pakistan.
The principal activity of the Company is the manufacturing of Poly
Propylene, Bio Oriented Poly Propylene, PVC, PET and all kinds of Plastic Films
140
|
Annual production volume is indeterminable as its mainly depend on the
demand / requirements from their domestic customers |
|
Year |
In Pak Rupees |
|
2013 |
383, 801,431/- |
Subject mainly import from Companies belongs to Europe, Far East, Asian
Countries
|
Mostly Packaging Companies, Manufacturing Companies, Private Companies
etc |
(1) Askari Bank Limited, Pakistan.
(2) United Bank Limited, Pakistan.
(3) Bank Al-Habib Limited, Pakistan.
(4) Habib Bank Limited, Pakistan.
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 101.70 |
|
UK Pound |
1 |
Rs. 152.75 |
|
Euro |
1 |
Rs. 115.00 |
Subject Company was established in 2003. The principal activity of the
Company is the manufacturing of Poly Propylene, Bio Oriented Poly Propylene, PVC,
PET and all kinds of Plastic Films. Trade relations are reported as fair. Payments to creditors etc are reported as
normal. 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 |
|
|
1 |
Rs.95.02 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
-- |
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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.