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MIRA INFORM REPORT
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Report No. : |
502712 |
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Report Date : |
16.04.2018 |
IDENTIFICATION DETAILS
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Name : |
MASTER PLASTIC PACK LIMITED |
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Registered Office : |
Near Master Square, G.T. Road, Gujranwala |
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Country : |
Pakistan |
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Financials (as on) : |
2017 [Summarized] |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
0045657 |
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Legal Form : |
Non-Listed Public Limited Company |
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Line of Business : |
The principal activity of the company is the manufacturing of Poly
Propylene, Bio Oriented Poly
Propylene, PVC, PET and all kinds of Plastic Films |
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No. of Employees : |
117 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
159,815.81 USD |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow & Delayed |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Pakistan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
PAKISTAN - ECONOMIC OVERVIEW
Decades of internal political disputes and low levels of foreign
investment have led to underdevelopment in Pakistan. Pakistan has a large
English-speaking population. A challenging security environment, electricity
shortages, and a burdensome investment climate have deterred investors.
Agriculture accounts for one-fifth of output and two-fifths of employment.
Textiles and apparel account for more than half of Pakistan's export earnings;
Pakistan's failure to diversify its exports has left the country vulnerable to
shifts in world demand. Pakistan’s GDP growth has gradually increased since
2012. Official unemployment was 6% in 2017, but this fails to capture the true
picture, because much of the economy is informal and underemployment remains
high. Human development continues to lag behind most of the region.
In 2013, Pakistan embarked on a $6.3 billion IMF Extended Fund Facility,
which focused on reducing energy shortages, stabilizing public finances,
increasing revenue collection, and improving its balance of payments position.
The program concluded in September 2016. Although Pakistan missed several
structural reform criteria, it restored macroeconomic stability, improved its
credit rating, and boosted growth. The Pakistani rupee, after heavy depreciation
in 2013, remained relatively stable against the US dollar in 2015-17. Balance
of payments concerns have reemerged, however, as a result of increased imports
and declining remittances.
Pakistan must continue to address several longstanding issues, including
expanding investment in education and healthcare, adapting to the effects of
climate change and natural disasters, improving the country’s business
environment, reducing dependence on foreign donors, and widening the country’s
tax base. Given demographic challenges, Pakistan’s leadership will be pressed
to implement economic reforms, promote further development of the energy
sector, and attract foreign investment to support sufficient economic growth
necessary to employ its growing and rapidly urbanizing population, much of
which is under the age of 25.
In an effort to boost development, Pakistan and China are implementing
the “China-Pakistan Economic Corridor,” with $60 billion in investments
targeted towards energy and other infrastructure projects. Pakistan believes
CPEC investments will enable growth rates of over 6% of GDP by laying the
groundwork for increased exports. CPEC-related obligations, however, have
raised IMF concern that capital outflows that will begin to increase in 2020.
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Source
: CIA |
Business
Name
MASTER PLASTIC PACK LIMITED
Full
Address
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Registered Address |
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Near Master Square, G.T. Road, Gujranwala, Pakistan |
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Tel # |
92 (55) 4290222, 4290333 |
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Fax # |
92 (55) 4290111 |
Short
Description Of Business
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a. |
Nature of Business |
The principal activity of the Company is the manufacturing of Poly
Propylene, Bio Oriented Poly
Propylene, PVC, PET and all kinds of Plastic Films |
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b. |
Year Established |
2003 |
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c. |
Registration # |
0045657 |
Branches
None
Auditors
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Akhter Mahmood Mian (Chartered Accountants) Flat No. 2, 5th Floor, Sharjah Centre, 62-Shadman Market,
Lahore, Pakistan |
Legal
Status
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Subject Company was established as a Non-Listed Public Limited Company
in 2003 |
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Authorized Capital |
Rs. 100,000,000/- divided into 10,000,000
shares of Rs. 10/- each |
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Issued & Paid up Capital |
Rs. 100,000,000/- divided into 10,000,000
shares of Rs. 10/- each |
Details
of Directors
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Names |
Designation |
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Mr. Sheikh Pervaiz Iqbal Mr. Sheikh Kamran Pervaiz Mst. Zareena Begum Mr. Sheikh Naeem Pervaiz |
Chief Executive Director Director Director |
Shareholders
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Names |
No. of Shares |
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Mr. Sheikh Pervaiz Iqbal Mr. Sheikh Kamran Pervaiz Mst. Zareena Begum Mr. Sheikh Naeem Pervaiz |
7,973,334 1,013,333 13,333 1,000,000 |
Associates
A. Subsidiary
None
B. Associated
Companies
(1) Master Plastic
Films, Pakistan.
Business
Activities
The principal activity of the Company is the manufacturing of Poly Propylene,
Bio Oriented Poly Propylene, PVC, PET and all kinds of Plastic Films
Number
of Employees
117
Annual
Production Volume
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Annual production volume is indeterminable as its mainly depend on the
demand / requirements from their domestic customers |
Annual
Sales Volume
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Year |
In Pak Rupees |
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2017 |
370,000,000/- (Estimated) |
Trade
Suppliers (Foreign)
Subject import globally from Companies belongs to Europe, Far East &
Asian Countries
Customers
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Mostly Packaging Companies, Manufacturing Companies, Private Companies
etc |
Bankers
(1) Askari Bank Limited, Pakistan.
(2) United Bank Limited, Pakistan.
(3) Bank Al-Habib Limited, Pakistan.
(4) Habib Bank Limited, Pakistan.
Comments
Subject Company was established in 2003. The principal activity of the
Company is the manufacturing of Poly Propylene, Bio Oriented Poly Propylene,
PVC, PET and all kinds of Plastic Films. Trade relations are reported as slow
& delayed. In view of
current disturbed economic and political situation, we would advise to deal
with all the business in Pakistan with some caution.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.22 |
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1 |
INR 92.77 |
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Euro |
1 |
INR 80.34 |
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PKR |
1 |
INR 0.57 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.