|
Report No. : |
325348 |
|
Report Date : |
08.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
DYCONIX ENGINEERING (PVT) LIMITED |
|
|
|
|
Registered Office : |
131-West Wood Colony, Thokar Niaz Baig, Raiwind Road, Lahore |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
2005 |
|
|
|
|
Com. Reg. No.: |
0049455 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engineering Consulting Firm engaged in various projects and offers a full range of services |
|
|
|
|
No of Employees : |
25 |
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 Company |
|
|
|
|
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 – 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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
DYCONIX
ENGINEERING (PVT) LIMITED
|
Registered
Address |
|
131-West Wood Colony, Thokar Niaz Baig, Raiwind Road, Lahore, Pakistan |
|
Tel # |
92 (42) 37516201 – 206 (6 Lines) |
|
Fax # |
92 (42) 37516206 |
|
a. |
Nature of Business |
Engineering Consulting Firm |
|
b. |
Year Established |
2005 |
|
c. |
Registration # |
0049455 |
None
Muhammad Ayub & Co.
(Chartered Accountants)
Subject Company was
established as a Private Limited Company in 2005
|
Authorized Capital |
Rs. 10,000,000/-
divided into 100,000 shares of Rs. 100/- each |
|
Issued & Paid up Capital |
Rs. 9,852,900/- divided
into 98,529 shares of Rs. 100/- each |
|
Names |
Designation |
|
Mr. Ghufranal Haq Qureshi Mr. Aftab Asghar Mr. Tariq Javed Mr. Muhammad Saeed Yousaf Zia Mr. Muhammad Yousaf Zia |
Chief Executive Director Director Director Director |
|
Names |
No. of Shares |
|
Mr. Ghufranal Haq Qureshi Mr. Aftab Asghar Mr. Tariq Javed Mr. Muhammad Saeed Yousaf Zia Mr. Muhammad Yousaf Zia Mr. Nasir Mahmood Mr. Rashid Mehmood Mrs. Shahida Ghufran Mrs. Aamira Nazir Mr. Zahid Maqsood |
20,000 20,000 20,000 5,000 20,000 3,000 100 5,000 5,000 429 |
A. Subsidiary
None
B. Associated
Companies
None
Engineering Consulting Firm engaged in various projects and offers a full range of services. These include Project Development, Front End Engineering Design, Detailed Engineering, Project Management and Supervision, Procurement Assistance, & Pre-commissioning and commissioning services
25
|
Year |
In Pak Rupees |
|
2013 |
60,000,000/- (Estimated) |
Subject mainly import from Companies belongs to European Countries, Korea, Taiwan, Singapore & China
Mainly Private
Companies, Government Corporations etc
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 102.90 |
|
UK Pound |
1 |
Rs. 157.00 |
|
Euro |
1 |
Rs. 115.50 |
Subject Company was established in 2005 and is an engineering consulting firm. Overall reputation is normal. Trade relations are reported as fair. Subject can be considered for normal business dealings at usual trade terms & conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.89 |
|
|
1 |
Rs. 97.97 |
|
Euro |
1 |
Rs. 71.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.