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MIRA INFORM REPORT
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Report No. : |
482299.2 |
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Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
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Name : |
TECHNIQUE SOLUTIONS |
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Registered Office : |
B-1110, 11th Floor, Tower B, Saima Trade Tower, I.I.
Chundrigar Road, Karachi |
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Country : |
Pakistan |
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Date of Incorporation : |
2005 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Subject is engaged in Import & Trading
of Surveillance
Equipments, Biometrics Equipments, Security Equipments, Scanning Equipments |
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No. of Employees : |
About 8 |
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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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 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.
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Source
: CIA |
Business
Name
TECHNIQUE
SOLUTIONS
Full
Address
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Registered
Address |
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B-1110, 11th Floor, Tower B, Saima Trade Tower, I.I.
Chundrigar Road, Karachi, Pakistan |
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Tel # |
92 (21) 32277339, 32277340, 32277341 |
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Fax # |
92 (21) 32277341 |
Short
Description Of Business
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a. |
Nature of Business |
Engaged in import & trading of Surveillance
Equipments, Biometrics Equipments, Security Equipments, Scanning Equipments |
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b. |
Year Established |
2005 |
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c. |
National Tax No. |
2309318-8 |
Branches
None
Legal
Status
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Subject Company was established as a Proprietorship business in 2005 |
Details
of Management
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Abdul Rahim Qureshi |
Pakistani |
B-1110, 11th Floor, Tower B, Saima Trade Tower, I.I. Chundrigar
Road, Karachi |
Business |
CEO / Proprietor |
Associated
Companies
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(1) United Technologies, Pakistan. |
Business
Activities
Subject Company is engaged in import
& trading of Surveillance Equipments, Biometrics Equipments, Security
Equipments, Scanning Equipments.
It purchases against D/P
basis to its trade suppliers globally.
It sale against cash term basis to its domestic customers.
Subject import globally from Companies belongs to European Countries, Taiwan, China, Korea,
Malaysia, Singapore & Thailand.
Its major customers are Private Companies, Industrial Corporations &
Government Corporations.
Subject operates from caption leased office premises situated at
commercial area of Karachi, Sindh.
Subject employs about 8 persons in its set up.
Annual
Sales Volume
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Year |
In Pak Rupees |
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2016 |
30,000,000/- (Estimated) |
Trade
Suppliers (Foreign)
Subject import globally from Companies belongs to European Countries, Taiwan, China, Korea, Malaysia,
Singapore & Thailand
Bankers
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(1) Habib Metropolitan Bank Limited, Pakistan. (2) Askari Bank Limited, Pakistan. (3) United Bank Limited, Pakistan. (4) Habib Bank Limited, Pakistan. |
Comments
Subject Company was established in 2005 and is engaged in import & trading of Surveillance
Equipments, Biometrics Equipments, Security Equipments, Scanning Equipments. 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.84 |
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1 |
INR 88.28 |
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Euro |
1 |
INR 77.88 |
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PKR |
1 |
INR 0.58 |
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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PRA |
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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.