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Report No. : |
305215 |
|
Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
DACCA CORPORATION |
|
|
|
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Registered Office : |
1st Floor, Amir Manzil, |
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|
|
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Country : |
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|
|
|
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Year of Establishments : |
1990 |
|
|
|
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Legal Form : |
Proprietorship Concern |
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|
|
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Line of Business : |
Import & Trading of Industrial Chemicals, Commodities
& Food Products [We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
|
|
|
|
No of Employees : |
04 |
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 Concern |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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-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 sales 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 |
DACCA CORPORATION
|
Registered
Address |
|
1st Floor, Amir Manzil, Adamjee Dawood Road, Karachi,
Pakistan |
|
Tel # |
92 (21) 32437361, 32439257 |
|
Fax # |
92 (21) 32439257 |
|
a. |
Nature of Business |
Import & Trading of Industrial Chemicals, Commodities
& Food Products |
|
b. |
Year Established |
1990 |
|
c. |
National Tax # |
0672029 - 3 |
|
None |
|
Subject Concern was established as a Proprietorship
business in 1990 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Anjum Riaz |
Pakistani |
1st Floor, Amir
Manzil, Adamjee Dawood Road, Karachi, Pakistan |
Business |
Proprietor |
|
None |
Subject Concern is engaged in import & trading of Industrial
Chemicals, Commodities & Food Products.
Local sales are mostly on cash / credit term basis to its local customers.
It’s mainly import from
China, India, Taiwan, Vietnam, Thailand, Hong Kong, Ukraine, Portugal &
Bangladesh.
Its major customers are Chemical Manufacturers, Private Companies, Traders.
Subject operates from caption leased office premises of area measuring 400 Sq.ft. situated at commercial market of Karachi.
Subject employs about 4 persons in its set up.
|
Year |
In Pak Rupees |
|
2013 |
28,000,000/- (Estimated) |
(Foreign)
|
Subject mainly import from Companies belongs to China, India, Taiwan, Vietnam, Thailand, Hong
Kong, Ukraine, Portugal & Bangladesh |
|
(1) Askari Bank Limited,
Pakistan. (2) MCB Bank Limited,
Pakistan. (3) Bank Al-Habib
Limited, Pakistan. (4) Meezan Bank
Limited, Pakistan. |
·
Karachi Chamber of Commerce & Industry.(KCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 101.60 |
|
UK Pound |
1 |
Rs. 152.25 |
|
Euro |
1 |
Rs. 113.50 |
Subject Concern was established in 1990 and is engaged in
import & trading of Industrial Chemicals, Commodities & Food Products. 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.61.50 |
|
UK Pound |
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.