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Report No. : |
344201 |
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Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
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Name : |
BERGER PAINTS PAKISTAN LIMITED |
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Registered Office : |
36, Industrial Estate, Kot Lakhpat, Lahore |
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Country : |
Pakistan |
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Financials (as on) : |
30.06.2015 |
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Date of Incorporation : |
25.03.1950 |
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Com. Reg. No.: |
0000358 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Company is engaged in the manufacturing of
paints, varnishes and other related items |
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No. of Employees : |
509 |
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 : |
Good |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Pakistan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BERGER PAINTS
PAKISTAN LIMITED
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Registered Address |
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36, Industrial Estate, Kot Lakhpat, Lahore, Pakistan |
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Tel # |
92 (42) 111-237-437 |
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Fax # |
92 (42) 35151549 |
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Website |
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a. |
Nature of Business |
Company is engaged in the manufacturing of
paints, varnishes and other related items |
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b. |
Year Established |
1950 |
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c. |
Registration No. |
0000358 |
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In Karachi, Lahore,
Islamabad, Peshawar, Multan, Faisalabad & Quetta |
28 K.M., Multan Road, Lahore, Pakistan
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KPMG Taseer Hadi & Co. (Chartered Accountants) |
|
The company was incorporated in Pakistan on
March 25, 1950 as a private limited company and was subsequently converted
into a public limited company. The company is listed on the Karachi and
Islamabad stock exchanges of Pakistan |
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Names |
Designation |
|
Mr. Maqbool H.H. Rahimtoola Dr. Mahmood Ahmad Mr. Hamid Masood Sohail Mr. Muhammad Naseem Mr. Ilyas Sharif Mr. Shahzad M. Husain Mr. Zafar A. Osmani |
Chairman Chief Executive Director Director Director Director Director |
|
Categories |
Percentage (%) |
|
Directors, CEO and their spouses and minor children NIT & ICP Banks, Development Financials Institutions, Non Banking Financial Institutions General Public (Local) General Public (Foreign) Others Associated Companies |
0.011 2.248 2.879 36,074 1.529 5.208 52.050 |
|
The holding Company
of Berger Paints Pakistan Limited is Slotrapid Limited which is Slotrapid
Limited which is incorporated in the B.V.I. |
A. Subsidiary
None
B. Associated Companies
Berdex
Construction Chemicals Private Limited, Pakistan.
Berger Road
Safety Private Limited, Pakistan.
(3) Berger DPI
Pakistan Limited, Pakistan.
|
Berger Robbialac
Color Bank, Timbercoat and Textured effects are some of
Berger’s highly successful products. |
509
|
Years |
In Pak Rupees |
|
2014 2015 |
4,509,031,000/- 4,301,830,000/- |
2015 2014
(Liters in thousand)
Actual
production 28,433
28,783
Note
:
The capacity of
the plant is indeterminable because it is a multi product plant involving
varying processes of manufacturing. Actual production includes resin production
of 7.09 million liters (2014: 6.64 million liters) which is used in the
manufacturing of the final product.
|
Subject import / purchases globally from China, Taiwan, Korea & European Countries. Its current global trade suppliers are Companies related to Paint’s Raw Material & Chemicals |
|
Mainly Automobile Assemblers, Distribution
Companies, Government Corporations, Trading Companies |
|
(1) Al-Baraka Bank
Pakistan Limited. (2) Bank
Al-Habib Limited, Pakistan. (3) Faysal Bank
Limited, Pakistan. (4) Habib Bank
Limited, Pakistan. (5) Habib
Metropolitan Bank Limited, Pakistan. (6) JS Bank
Limited, Pakistan. (7) MCB Bank
Limited, Pakistan. (8) Summit Bank
Limited, Pakistan. (9) United Bank
Limited, Pakistan. |
Sound
Berger was
established two centuries ago and now it has grown to become one of the world’s
largest paints manufacturer. In Pakistan, history of Berger is as old as
history of Pakistan. Berger started its operations in Pakistan in 1950 and was
the first organized Paint Company to offer premium products through import from
the United Kingdom. BERGER PAINTS PAKISTAN LTD. became a public limited company
in 1974, when 49.38% of its shares were acquired by Pakistani investors, while
the remaining 50.62% were held by U.K. parent company, Jenson & Nicholson
Limited. In 1991 Slotrapid Limited, a U.K. based company with diversified
business interests, acquiring control of Berger Paints Pakistan Limited by
gaining 50.62% shares of the company. Berger established its first local
manufacturing facility in Karachi in 1955. As the country’s economic and
industrial sector expanded the demand for quality paints also grew and Berger
continued to make extensions in its product range to meet these requirements.In
2006, Berger established state of the art manufacturing facility in Lahore.
This plant has provided Berger an edge over its competition through enhanced
production. It has enabled Berger to meet the growing demands of its valued
customers across Pakistan. Berger Paints Head office is located in Lahore.
Consistent quality has always been Berger’s trait. This has been the driving
force in making it the leading brand name backed by premium quality across
Pakistan. Berger has the most comprehensive product range for various paint
market segments at different price points. Berger has earned the admiration and
trust of customers by virtue of its superior technology, product quality and a
very high level of customized services. Berger has entered into a number of
technical collaboration arrangements with leading international manufacturers.
These include the largest paint company in Japan, which enables Berger to develop
Automotive, Vehicle Refinishes and Industrial Paints conforming to
international standards; a Japanese chemical company, for Bumper Paints; PCS
Powders, UK for Powder Coatings; DPI Sendirian Berhad, Malaysia for Road &
Runway Markings; Cerachem for Construction Chemicals and Asian Paints for
Decorative Paints. Recently, Berger acquired distribution rights of DuPont for
Pakistan’s vehicle refinish paint segment. Berger is also operating Resin
manufacturing facility at its Lahore factory. The resin plant has high
production capacity and has enabled Berger to meet its entire resin needs for
the manufacturing of a wide range of quality paints. Berger was the first paint
company in Pakistan to set up its own resin production facility. The company
has regional offices in Karachi, Lahore, Islamabad and Territorial Offices in
Gujranwala, Multan, Faisalabad, Peshawar and Hyderabad. A large team of sales
personnel and a wide network of dealers and distributors serve customers in all
urban centers across the country.
Karachi Chamber of Commerce & Industry.(KCCI)
Federation Pakistan Chamber of Commerce &
Industry.(FPCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 104.40 |
|
UK Pound |
1 |
Rs. 159.50 |
|
Euro |
1 |
Rs. 117.75 |
Subject Company enjoys excellent credibility
in the International Business Community, Worldwide. Company is primarily
engaged in manufacturing of paints, varnishes and other related items.
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.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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Report Prepared
by : |
TPT |
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 |
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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 |
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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 |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
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.