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Report No. : |
346143 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARIAN SPORTS (PRIVATE) LIMITED |
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|
|
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Registered Office : |
1 K.M., Off Naul More, Roras Road, Sialkot |
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|
|
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Country : |
Pakistan |
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|
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Date of Incorporation : |
1981 |
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Com. Reg. No.: |
0008739 |
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|
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Legal Form : |
Private Limited Company |
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|
|
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Line of Business : |
Manufacture & Export of Sports Goods, Sports Wear, Sports Garments
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|
|
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No. of Employees : |
68 |
RATING & COMMENTS
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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 |
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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 |
|
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 exports has 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 the mid-2000s, 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 sectors 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 |
In absence of financials, no credit limit could be recommended.
ARIAN SPORTS
(PRIVATE) LIMITED
|
Registered
Address |
|
1 K.M., Off Naul More, Roras Road, Sialkot, Pakistan |
|
Tel # |
92 (52) 4266582, 4268077 |
|
Fax # |
92 (52) 4266508 |
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Email |
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a. |
Nature of Business |
Manufacture & Export of Sports Goods, Sports Wear, Sports Garments
|
|
b. |
Year Established |
1981 |
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c. |
Registration # |
0008739 |
|
None |
|
Karamat Chaudhry & Company (Chartered
Accountants) |
|
Subject Company was established as a Private Limited Company in 1981 |
|
6. |
Authorised Capital |
Rs. 2,000,000/- divided into 20,000 shares
of Rs. 100/- each |
|
|
Issued & Paid up Capital |
Rs. 1,000,000/- divided into 10,000 shares
of Rs. 100/- each |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Shahid Riaz Mr. Mazhar Riaz Mrs. Samina Shahid Mr. Senan Shahid |
Pakistani Pakistani Pakistani Pakistani |
1 K.M., Off Naul More, Roras Road, Sialkot 1 K.M., Off Naul More, Roras Road, Sialkot 1 K.M., Off Naul More, Roras Road, Sialkot 1 K.M., Off Naul More, Roras Road, Sialkot |
Business Business Business Business |
Chief Executive Director Director Director |
|
Names |
No. of Shares |
|
Mr. Shahid Riaz Mr. Mazhar Riaz Mrs. Samina Shahid Mr. Senan Shahid |
2,800 3,500 2,700 1,000 |
A. Subsidiary
None
B. Associated Companies
- Do
-
Subject Company is engaged in manufacture & export of Sports Goods,
Sports Wear & Sports Garments.
Its exporting countries are U.S.A. & European Countries.
Payments would be accepted / made through L/C, D/P basis to its trade
suppliers / customers globally.
Its importing Countries are China, Taiwan, Singapore, Korea &
European Countries.
Its major customers are International Buyers, Private Companies,
International Sports Associations, Worldwide.
Subject operates from caption leased office & factory premises
situated at commercial & industrial area of Sialkot.
Subject employs about 68 persons in its set up.
|
Year |
In Pak Rupees |
|
2014 |
70,000,000/- (Estimated) |
|
Its mainly depends upon the requirement from their foreign clients / customers
according to the demand and supply in domestic as well as international
markets. |
Habib Bank Limited, Pakistan.
Faysal Bank Limited, Pakistan.
Bank Alfalah Limited, Pakistan.
(4) Meezan Bank Limited, Pakistan.
Sialkot Chamber of Commerce & Industry. (SCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 104.40 |
|
UK Pound |
1 |
Rs. 158.75 |
|
Euro |
1 |
Rs. 118.00 |
Subject Company was established in 1981 and is engaged in manufacture
& export of Sports Goods, Sports Wear and Sports Garments. 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.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
|
|
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.