|
|
|
MIRA INFORM REPORT
|
Report No. : |
485169 |
|
Report Date : |
13.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
AGRI FORCE CHEMICALS |
|
|
|
|
Registered Office : |
133-A, Khayaban-e-Sarwar, Dera Ghazi Khan, Punjab |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
2003 |
|
|
|
|
Legal Form : |
Partnership business |
|
|
|
|
Line of Business : |
Subject Company is engaged in import, manufacture & trading of Pesticide Chemicals, Agro
Chemicals Products. |
|
|
|
|
No. of Employees : |
40 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
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 |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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 |
Company
Name
AGRI FORCE CHEMICALS
Full
Address
|
Registered Address |
|
133-A, Khayaban-e-Sarwar, Dera Ghazi Khan, Punjab, Pakistan |
|
Tel # |
92 (64) 2464545, 2469420,
+923006789088 |
|
Fax # |
92 (64) 2469420 |
|
Email |
Short
Description Of Business
|
a. |
Nature of Business |
Import, manufacture & trading of Pesticide
Chemicals, Agro Chemicals Products |
|
b. |
Year Established |
2003 |
|
c. |
National Tax No. |
1689341 - 7 |
Branches
& Work Locations
63-A, Khayaban-e-Sarwar, D.G. Khan,
Punjab
Plot # 217-218, Industrial Estate,
Multan, Pakistan
Legal
Status
|
Subject Company was established as a Partnership business in
2003 |
Details
of Management
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Chaudhry Muhammad Ashraf Mr. Chaudhry Muhammad Razzaq Mrs. Rasheeda Begum |
Pakistani Pakistani Pakistani |
133-A, Khayaban-e-Sarwar, Dera Ghazi Khan, Punjab 133-A, Khayaban-e-Sarwar, Dera Ghazi Khan, Punjab 133-A, Khayaban-e-Sarwar, Dera Ghazi Khan, Punjab |
Business Business Business |
CEO / Managing Partner Partner Partner |
Association
Companies
|
(1) Agri Links International, Pakistan. (2) Agriforce Seeds Corporation, Pakistan. (3) Mushtaq Brothers, Pakistan. |
Business
Activities
Subject Company is engaged in import, manufacture & trading of Pesticide Chemicals, Agro
Chemicals Products.
It purchases raw material 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 China, Korea, India & European Countries.
Its major customers are Traders, Farmers, Government
Organizations, Pesticide Companies etc.
Subject operates from owned office premises situated at commercial
& industrial centers of Dera Ghazi Khan & Multan, Punjab.
Subject employs about 40 persons in its set up.
Annual
Sales Volume
|
Year |
In Pak Rupees |
|
2016 |
42,000,000/- (Estimated) |
Annual
Production Volume
|
Annual Company’s production is indeterminable as it is multi-products
and involves various process of manufacturing |
Trade
Suppliers (Foreign)
Subject import globally from Companies belongs to China, Korea, India & European Countries. Its
global trade suppliers are Companies related to Agro Chemical Products
Bankers
|
(1) United Bank Limited, Pakistan. (2) Soneri Bank Limited, Pakistan. (3) The Bank of Punjab, Pakistan. (4) MCB Bank Limited, Pakistan. |
Memberships
D. G. Khan Chamber of Commerce & Industry.
Comments
Subject Company was established in 2003 and is engaged in import, manufacture & trading of Pesticide Chemicals, Agro Chemicals Products. Overall reputation is normal. Trade relations are reported as fair. 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 63.53 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
|
PKR |
1 |
INR 0.58 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.