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MIRA INFORM REPORT
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Report No. : |
484613 |
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Report Date : |
10.01.2018 |
IDENTIFICATION DETAILS
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Name : |
AGROCHINA PAKISTAN (PVT) LIMITED |
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Registered Office : |
23-B, Block-P, Phase II, Johar Town, Lahore |
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Country : |
Pakistan |
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Date of Incorporation : |
05.09.2014 |
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Com. Reg. No.: |
0089758 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in the business of
Agricultural Pesticide Products |
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No. of Employees : |
3 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Pakistan |
B1 |
B1 |
|
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 slow growth and underdevelopment in Pakistan. Pakistan
has a large English-speaking population. Nevertheless, 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 most 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 6.1% in 2016, 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 2016.
Low global oil prices in 2016 contributed to a narrowing current account
deficit and lower inflation. Remittances from overseas workers continued to be
a key revenue source, also mitigating the impact of the lack of foreign
investment and a growing trade deficit on the country’s current account.
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,” a $46 billion investment program
targeted towards the energy sector and other infrastructure projects that
Islamabad and Beijing had agreed on in early 2013.
|
Source
: CIA |
Business
Name
AGROCHINA PAKISTAN
(PVT) LIMITED
Full
Address
|
Registered
Address |
|
23-B, Block-P, Phase II, Johar Town, Lahore, Pakistan |
|
Tel No. |
Not provided by the Management of the
Company |
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Fax No. |
Not provided by the Management of the
Company |
Short
Description Of Business
|
a. |
Nature of Business |
Engaged in the business of Agricultural
Pesticide Products |
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b. |
Year Established |
5th September, 2014 |
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c. |
Registration No. |
0089758 |
Branches
|
None |
Auditors
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Ashiq Aamer Sattar & Company (Chartered Accountants) |
Legal
Status
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Subject Company was established as a Private Limited Company in 5th September, 2014 |
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Authorised Capital |
Rs. 5,000,000/- divided into 50,000 shares of
Rs. 100/- each |
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Issued & Paid up Capital |
Rs. 5,000,000/- divided into 50,000 shares of
Rs. 100/- each |
Details
of Chief Executive / Directors
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Names |
Designation |
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Mr. Muhammad Usman Ali Mr. Muhammad Abubakar Siddique Akbar |
Chief Executive Director |
Shareholders
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Names |
No. of Shares |
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Mr. Muhammad Usman Ali Mr. Muhammad Abubakar Siddique Akbar |
33,500 16,500 |
Associated
Companies
|
None |
Business
Activities
|
Engaged in the business of Agricultural
Pesticide Products |
No.
of Employees
3
Annual
Sales Volume
|
Year |
In Pak Rupees |
|
2016 |
6,000,000/- (Estimated) |
Trade
Suppliers (Foreign)
|
Subject import globally from Companies
belongs to China |
Customers
|
Major customers are Traders deal with
credit term basis |
Bankers
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(1) The Bank of Punjab, Pakistan. (2) NIB Bank Limited, Pakistan. (3) MCB Bank Limited, Pakistan. |
Comments
Subject Company was established in 5th September, 2014 and is engaged
in the business of Agricultural Pesticide Products. 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.47 |
|
|
1 |
INR 86.15 |
|
Euro |
1 |
INR 75.92 |
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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
: |
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
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
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.