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Report No. : |
340935 |
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Report Date : |
19.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
AKZO NOBEL PAKISTAN LIMITED |
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|
|
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Registered Office : |
State Life Building 1-A, Ground Floor, I.I. Chundrigar Road, Karachi |
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Country : |
Pakistan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
2011 |
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Com. Reg. No.: |
0076973 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
The Company is
primarily involved in the manufacturing of paints and trading of specialty
chemicals |
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|
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No. of Employees : |
261 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
AKZO
NOBEL PAKISTAN LIMITED
|
Registered
Address |
|
State Life Building 1-A, Ground Floor, I.I.
Chundrigar Road, Karachi, Pakistan |
|
Tel # |
92 (21) 32422344, 32467406 |
|
Fax # |
92 (21) 32428310 |
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Website |
|
a. |
Nature of Business |
The Company is
primarily involved in the manufacturing of paints and trading of specialty
chemicals |
|
b. |
Year Established |
2011 |
|
c. |
Registration # |
0076973 |
|
(1) Shahzad Manzil,
Water Works Road, Multan, Pakistan. (2) 54-C, Main Khayaban-e-Ittehad, Phase VI, DHA Karachi, Pakistan. |
346, Ferozepur Road, Lahore, Pakistan
|
KPMG Taseer Hadi & Co. (Chartered
Accountants) |
Legal
Status
|
Subject Company was established as a Public Limited Company in 2011
and is listed at Karachi, Lahore & Islamabad Stock Exchanges of Pakistan |
|
Names |
Designation |
|
Mr. Mueen Afzal Mr. Jehanzeb Khan Mr. Bart Kaster Mr. Asad I A Khan Mr. Michiel Franse Mr. Peter Tomlinson Mr. Harris Mahmood |
Chairman Chief Executive Director Director Director Director Director |
|
Categories |
Shareholding
(%) |
|
Directors, Chief Executive Officer, and
their Spouse and minor children Associated Companies, Undertakings &
related parties NIT & ICP Banks Development Finance Institutions, Non
Banking Financial Institutions Insurance Companies Modarabas & Mutual Funds General Public
Others |
0.00 75.81 --- 1.42 3.02 1.75 7.75 10.25 |
ICI Omicron B.V. (a fully owned subsidiary of AkzoNobel
N.V.) is a parent Company of Akzo Nobel Pakistan Limited
The Company is primarily involved in the manufacturing of paints and trading of specialty chemicals.
It purchases raw material against L/C, D/P basis.
It’s mainly import from China, Korea, Japan, Taiwan, Singapore & European Countries.
Its major customers are Private Companies, Distribution Companies, Retail & Wholesale Traders deal with cash / credit term basis.
Subject employs about 261 persons in its set up.
|
Years |
In Pak Rupees |
|
2013 2014 |
7,124,812,000/- 6,915,474,000/- |
2014 2013
Annual production
- thousands of liters 19,136 23,014
The capacity of the plant is indeterminable because this is a
multi-product plant.
Subject mainly import
from Companies belongs to China, Korea, Japan, Taiwan, Singapore & European
Countries
·
Karachi Chamber of Commerce & Industry.(KCCI)
·
Federation Pakistan
Chamber of Commerce & Industry.(FPCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 104.45 |
|
UK Pound |
1 |
Rs. 160.25 |
|
Euro |
1 |
Rs. 117.50 |
Subject Company was established in 2011 and is engaged in the manufacture of paints & trading of specialty chemicals. Market 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.65.95 |
|
|
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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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 |
|
|
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 |
|
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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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
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.