|
Report No. : |
330586 |
|
Report Date : |
07.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
JAMAL & BROTHERS |
|
|
|
|
Registered Office : |
5, ATS Centre, Fazal-e-Haq Road, Blue Area, Islamabad |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of Establishment : |
1994 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Import & Wholesale of Information Technology / Office Products. |
|
|
|
|
No. of Employees : |
25 |
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 |
|
Business Name |
JAMAL &
BROTHERS |
Registered
Address
|
|
5,
ATS Centre, Fazal-e-Haq Road, Blue Area, Islamabad, Pakistan |
|
Tel # |
92 (51) 2271130, 2271015, 2875466 |
|
Fax # |
92 (51) 2274158 |
|
Email |
|
a. |
Nature of Business |
Engaged in import & wholesale of Information
Technology / Office Products |
|
b. |
Year Established |
1994 |
|
Address |
2, Taimoor Chambers, Fazal-e-Haq Road, Blue Area, Islamabad, Pakistan |
|
Tel No. |
92 (51) 2805216, 2805217 |
|
Fax No. |
92 (51) 2274158 |
|
Subject Company was established as a Proprietorship business in 1994 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Yousaf Jamal |
Pakistani |
5, ATS Centre,
Fazal-e-Haq Road, Blue Area, Islamabad |
Business |
CEO / Proprietor |
|
None |
Subject Company is engaged in import & wholesale of Information
Technology / Office Products.
Local sales are mostly on cash term basis to its domestic customers.
It’s mainly import from China,
Korea, Taiwan, U.S.A. & European Countries.
Its major customers are Manufacturing Companies, Private Companies,
Commercial Banks & Government Corporations.
Subject operates from caption leased office premises situated at
commercial centers of Islamabad.
Subject employs about 25 persons in its set up.
|
Year |
In Pak Rupees |
|
2013 |
100,000,000/- (Estimated) |
|
(1) HEWLETT PACKARD, SINGAPORE. (2) APP, INDONESIA. (3) MERCURY, PAKISTAN. (4) IMATION, PAKISTAN. (5) TRENT INTERNATIONAL, U.K. (6) HOSHAN PAN GULF, U.A.E. |
|
(1) Bank Alfalah Limited, Pakistan. (2) Habib Bank Limited, Pakistan. (3) Faysal Bank Limited, Pakistan. (4) MCB Bank Limited, Pakistan. (5) Standard Chartered Bank, Pakistan. |
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 102.80 |
|
UK Pound |
1 |
Rs. 159.65 |
|
Euro |
1 |
Rs. 113.50 |
Subject Company was established in 1994 and
is engaged in import & wholesale of Information Technology / Office
Products. Overall reputation is satisfactory. 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.63.58 |
|
|
1 |
Rs.99.11 |
|
Euro |
1 |
Rs.70.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.