|
Report No. : |
346937 |
|
Report Date : |
31.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
S.F TRADERS |
|
|
|
|
Registered Office : |
1/LY-21, Bawapat Fakir Mohammed Dura Khan Road, Lyari Quarters, Karachi |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of
Established: |
2006 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Subject is engaged in trading of Commodities & Chemicals |
|
|
|
|
No. of Employee : |
1 |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Poor |
|
|
|
|
Payment Behaviour : |
-- |
|
|
|
|
Litigation : |
-- |
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 |
S.F TRADERS
|
Registered
Address |
|
1/LY-21, Bawapat
Fakir Mohammed Dura Khan Road, Lyari Quarters, Karachi, Pakistan |
|
Tel # |
92 (21) 35381288,
+923002786537 |
|
Fax # |
92 (21) 35888260 |
|
a. |
Nature of
Business |
Engaged in
trading of Commodities & Chemicals |
|
b. |
Year Established |
2006 |
|
Subject Company was established as a
Proprietorship business in 2006 |
|
Names |
Address |
Occupation |
Designation |
|
Mr. Mohammed Sohaib |
1/LY-21, Bawapat
Fakir Mohammed Dura Khan Road, Lyari Quarters, Karachi |
Business |
CEO / Proprietor |
A. Subsidiary
None
B. Associated Companies
- Do -
Engaged in Trading of Commodities & Chemicals
1
|
PKR 1,500,000/- (Estimated) |
Not Disclosed by the Proprietor of the Company
|
Mainly Retailers, Individuals located at Karachi |
MCB Bank Limited, Pakistan.
Habib Bank Limited, Pakistan.
United Bank Limited, Pakistan.
We visited the office of the concern where following observations were
made:
(1) Name Board of the Company
could not be sighted at the time of our visit.
(2) The concern’s shop is
very difficult to locate.
(3) Subject is located in a
commercial area.
(4) Items such as Telephones could not be
seen at the concern’s shops.
(5) Subject shop is not
maintained properly.
Subject operates from caption shop premises of area measuring 400 Sq.
ft, which is located at commercial area.
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 104.75 |
|
UK Pound |
1 |
Rs. 160.05 |
|
Euro |
1 |
Rs. 115.50 |
Company looks very small sized and it seems that the main business of
the company is trading. From market sources no information is available, as the
company has not enough presence in the market. As per our observation the
company is not very active in the business circle. Trade relations are not
known. Therefore we do not recommend conducting any business activity with the
subject Company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.