MIRA INFORM REPORT

Report Date :

24^thMay 2006

IDENTIFICATION DETAILS

Name :	ALKEMY PHARMACEUTICAL LABORATORIES (PVT) LIMITED

Registered Office :	P/9 S.I.T.E., Hyderabad, Pakistan

Date of Incorporation :	1989

Com. Reg. No.:	1572/19890907

Legal Form :	Private Limited Company

Line of Business :	Manufacture of Pharmaceutical Products.

RATING & COMMENTS

MIRA’s Rating :

26-40

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

Status :	Moderate

Payment Behaviour :	Unknown

Litigation :	Unknown

Business Name

ALKEMY PHARMACEUTICAL LABORATORIES (PVT) LIMITED

Full Address

Registered Address & Factory

P/9 S.I.T.E., Hyderabad, Pakistan.

Tel #	92 (221) 880275
Fax #	92 (221) 880275

Principal Office

Address	203, Al-Amin Tower, Block-10, Gulshan-e-Iqbal, Karachi, Pakistan.
Tel #	92 (21) 4986351
Fax #	92 (21) 4971540

Short Description Of Business

Nature of Business	Manufacture of Pharmaceutical Products.
Year Established	1989
Registration #	1572/19890907

Branches

None

Auditors

Mustafa Ahmed & Co.

(Chartered Accountants)

Legal Status

Subject Company was established as a Private Limited Company in 1989.

Authorised Capital	Rs. 5,000,000/- divided into 50,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 1,510,000/- divided into 15,100 shares of Rs. 100/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Nazir Ahmed Shaikh

Rukhsana Shaikh

Akhlaq Ahmed Shaikh

Pakistani

Flat No.6, Al-Ahmed Lodge, Block 13-B, Gulshan-e-Iqbal, Karachi

Business

Chief Executive

Director

Shareholders

Names

Address

No. of Shares

Nazir Ahmed Shaikh

Rukhsana Shaikh

Akhlaq Ahmed Shaikh

Flat No.6, Al-Ahmed Lodge, Block 13-B, Gulshan-e-Iqbal, Karachi

9,815

3,775

1,510

Associates

Subsidiary

None

Associated Companies

- Do -

Products

Manufacture & local sale of Pharmaceutical Products.

Number of Employees

35 (Thirty Five)

Note :

This figure is obtained from indirect sources other than the company.

Annual Production Volume

The capacity and production of the company’s plant is indeterminable as it involves varying processes of manufacture.

Annual Sales Volume

Year	In Pak Rupees
2004	8,900,000/- (Estimated)

Suppliers (Foreign)

None

Customers

Few Medical shops in Hyderabad & Karachi.

Bankers and their addresses

(1) Metropolitan Bank Limited, Pakistan.

(2) Muslim Commercial Bank Limited, Pakistan

Foreign Exchange Rates

*Currency*	Unit	Pakistani Rupee
US Dollar	1	Rs. 60.00
UK Pound	1	Rs. 105.20
Euro	1	Rs. 72.10

Comments

The Subject Company is not well known in the pharmaceutical business in Pakistan. Also the directors of the company are not quite well known. Similarly the company and its products do not enjoy any reputation. However as per our information the company is engaged in manufacture & sale of Pharmaceutical Products The product is sold locally and there is no export activity. Subject can therefore be ignored for any kind of business dealings.

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	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions