MIRA INFORM REPORT

 

 

Report No. :

340033

Report Date :

19.09.2015

 

IDENTIFICATION DETAILS

 

Name :

PARAGON CHEMICALS

 

 

Registered Office :

House No. 70, Block B, Model Town, Lahore

 

 

Country :

Pakistan

 

 

Date of Incorporation :

2004

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Import & Trading of Industrial Chemicals, Textile Chemicals

 

 

No. of Employees :

4

 

 

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

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

 

 

Business Name

 

PARAGON CHEMICALS

 

 

Full Address       

 

Registered Address

 

House No. 70, Block B, Model Town, Lahore, Pakistan

                                   

Tel #

92 (42) 35842070, 35842071, +923214883058

Fax #

92 (42) 35842071

Email

paragonchemicals@hotmail.com

 

 

Short Description Of Business

 

a.

Nature of Business       

Import & Trading of Industrial Chemicals, Textile Chemicals

b.

Year Established

2004

 

 

Branches

 

None

 

 

Legal Status

 

Subject Company was established as a Proprietorship business in 2004

 

 

Details of Management

 

Names

 

Nationality

Address

Occupation

Designation

Mr. Tariq Mahmood

 

Pakistani

 

House No. 70, Block B, Model Town, Lahore

Business

 

CEO / Proprietor

 

 

Associated Companies

                          

None

 

 

Business Activities

 

Subject Company is engaged in import & trading of Industrial Chemicals, Textile Chemicals.

 

It purchases raw materials against D/A, D/P basis to its trade suppliers globally.

 

It sells against cash / credit term basis to its domestic customers.

 

Its import globally from Companies belongs to India, China, Thailand, Hong Kong, Korea & U.A.E.

 

Its major customers are Private Companies, Traders etc.

 

Subject operates from rented office premises situated at commercial area of Lahore.

 

Subject employs about 4 persons in its set up.

 

 

Annual Sales Volume

 

Year

 

In Pak Rupees

2014

12,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

 

Subject import globally from Companies belongs to India, China, Thailand, Hong Kong, Korea & U.A.E.

 

 

Bankers

 

Askari Bank Limited, Pakistan.

Meezan Bank Limited, Pakistan.

Soneri Bank Limited, Pakistan.

Habib Bank Limited, Pakistan.

 

 

Memberships

 

Lahore Chamber of Commerce & Industry.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

          Rs. 104.45

UK Pound

1

          Rs. 160.25

Euro

1

          Rs. 117.50

 

 

Comments

 

Subject Company was established in 2004 and is engaged in import & trading of industrial chemicals, textile chemicals. 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

UK Pound

1

Rs.102.75

Euro

1

Rs.75.13

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

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%)

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