MIRA INFORM REPORT

 

 

Report Date :

21.04.2008

 

 

IDENTIFICATION DETAILS

 

Name :

FYNK PHARMACEUTICALS

 

 

Registered Office :

Room # 18, 3rd Floor Gohar Centre, Wahdat Road, Lahore

 

 

Country :

Pakistan

 

 

Date of Incorporation :

2002

 

 

Legal Form :

Partnership

 

 

Line of Business :

Manufacture and Marketing of Pharmaceutical Products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

                                   

Business Name

 

FYNK PHARMACEUTICALS

 

 

Full Address

 

          

Registered Address

Room # 18, 3rd Floor Gohar Centre, Wahdat Road, Lahore, Pakistan

 

 

 

                       

Tel

92 (42) 5841731

Fax

92 (42) 5844063

Email

fynk_pharmaceutical@yahoo.com

 

 

Short Description Of Business

 

Nature of Business           

Manufacture & Marketing of Pharmaceutical Products

Year Established

2002

National Tax #

1556794

 

 

Factory Location

           

Address

19-K.M., G.T Road, Kalashah Kaku, Lahore, Pakistan

Tel #

92 (42) 7982496, 7981416

Fax #

92 (42) 7982108

 

Legal Status

 

Subject Company was established as a Partnership business in 2002

 

 

Details of Management

 

Names

Nationality

Address

Occupation

Designation

Mr. Haji Muhammad Liaquat

 

 

 

Mrs. Shahida Liaquat

Pakistani

 

 

 

 

Pakistani

 

Room # 18, 3rd Floor Gohar Centre, Wahdat Road, Lahore

 

Room # 18, 3rd Floor Gohar Centre, Wahdat Road, Lahore

Business

 

 

 

 

Business

 

Managing Partner

 

 

 

Partner

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None                                             

           

 

B.         Associated Companies

 

                        - Do -   

 

 

Products

 

(1) Subject Company is engaged in manufacture & marketing of Pharmaceutical Products.

 

(2)   It purchases raw material against D/A basis.

 

(3) Its’ major customers are Distributors, Traders, Pharmacies & Hospitals located in Lahore & Interior parts of Punjab.

 

(4) Subject operates from caption leased factory premises of area measuring   3,000 Sq.Yard. which is situated in industrial area.

 

(5)  Subject employs about 60 persons in its set up.

 

 

Products

           

BLOSSOM, CLIFF, DAVOX, DISPEL, EDENCIN, ERUPEIN, FYCAM, FYCLOR, FYGESIC, FYGYL, FYMEF, FYMICRON, FYMOTIL, FYNKARD, FYSID, HEPAR, KADIN, LAZOL, LOPEMID, LURK, METOPLAXIL, OFAXIN, OMAPREN, PAIGONE, PAZOL, RELIC, RODIN, STYLOPRIM, TENOXITIL, VERGE, VOVERON, ZEOLOT

 

 

Annual Sales Volume

 

Year
In Pak Rupees

2006 - 2007

50,000,000/- (Estimated)

 

 

Capacity & Production

           

The capacity and production of the company’s plant is indeterminable as it is multi- product and involves various processes of manufacture.

 

 

 

 

 

 

 

Authorized Distributors

 

Mainly in Lahore & Interior Parts of Punjab

 

 

Bankers

 

Standard Chartered Bank, Pakistan.

Habib Metropolitan Bank Limited, Pakistan.

Allied Bank Limited, Pakistan.

United Bank Limited, Pakistan.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 64.40

UK Pound

1

           Rs. 128.75

Euro

1

           Rs. 101.90

 

 

Comments

 

Subject Company was established in 2002 and is engaged in manufacture & marketing of Pharmaceutical Products. Trade relations are reported as fair. The Company can be considered for normal business dealings at usual trade terms and conditions.

 

 

 

 

 

 

 

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.

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

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