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Report No. : |
314097 |
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Report Date : |
27.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNIWA TRADERS |
|
|
|
|
Registered Office : |
B-1, 2nd Floor, Salman Sheikh Center, St-4, Block 6, Gulshan-e-Iqbal, Karachi |
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|
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Country : |
Pakistan |
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Date of Incorporation : |
2005 |
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|
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Legal Form : |
Proprietorship business |
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Line of Business : |
Engaged in import & trading of Commodities, Plastic Scrap, Chemicals |
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|
|
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No of Employees : |
3 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Slow But Correct |
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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 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-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 |
UNIWA TRADERS
Registered
Address
|
|
B-1, 2nd Floor, Salman Sheikh Center, St-4, Block 6,
Gulshan-e-Iqbal, Karachi, Pakistan |
|
Tel # |
92 (21) 32201319, 32418384 |
|
Fax # |
92 (21) 32203988 |
|
Email |
|
a. |
Nature of Business |
Engaged in import & trading of
Commodities, Plastic Scrap, Chemicals |
|
b. |
Year Established |
2005 |
None
Subject Company was established as a Proprietorship business in 2005
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Ammad Chaudhary |
Pakistani |
B-1, 2nd
Floor, Salman Sheikh Center, St-4, Block 6, Gulshan-e-Iqbal, Karachi |
Business |
Proprietor |
None
Subject Company is engaged in import & trading of Commodities, Plastic Scrap, Chemicals.
Local sales are mostly on credit term basis to its local customers.
It’s mainly import from China, Hong Kong, India, Korea & U.A.E.
Its major customers are Traders, Private Companies etc
Subject operates from caption leased rented premises situated at commercial area of Karachi.
Subject employs about 3 persons in its set up.
|
Year |
In Pak Rupees |
|
2013 |
6,000,000/- (Estimated) |
Subject mainly import
from Companies belongs to China, Hong Kong, India, Korea & U.A.E.
(1) MCB Bank Limited, Pakistan.
(2) Summit Bank Limited, Pakistan.
(3) Meezan Bank Limited, Pakistan.
(4) Bank Al-Habib Limited, Pakistan
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 102.65 |
|
UK Pound |
1 |
Rs. 152.50 |
|
Euro |
1 |
Rs. 110.25 |
Subject Company was established in 2005 and is engaged in import & trading of Commodities, Plastic Scrap & Chemicals. Trade relations are not known. Such as conducting business activity with the subject is considered to be a trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.67 |
|
|
1 |
Rs. 93.26 |
|
Euro |
1 |
Rs. 68.85 |
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.