MIRA
INFORM REPORT
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Report Date : |
18.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
HICON PHARMACEUTICALS |
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Registered Office : |
131-Hayatabad Industrial Estate, Peshawar |
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Country : |
Pakistan |
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Date of Incorporation : |
2004 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture &
Marketing of Pharmaceutical Products |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Business Name
HICON PHARMACEUTICALS
Full Address
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Registered Address & Factory |
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131-Hayatabad Industrial Estate, Peshawar, Pakistan |
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Tel |
92 (91) 5891271, 5891272 |
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Fax |
92 (91) 5891273 |
Short Description Of Business
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Nature of Business |
Manufacture & Marketing of Pharmaceutical Products |
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Year Established |
2004 |
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National Tax # |
0333702 |
Branches
None
Legal Status
Subject Company was established as a Proprietorship business in 2004
Details of Proprietor
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Mohammad Aslam |
Pakistani |
131-Hayatabad
Industrial Estate, Peshawar, Pakistan |
Business |
Proprietor |
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, Pharmacies located in Peshawar.
(4) Subject operates from caption leased factory premises of area measuring 800 Sq.Yard. which is situated in industrial area.
(5) Subject employs about 30 persons in its set up.
Products
Manufacture & Marketing of Pharmaceutical Products
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
4,000,000/- (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 Peshawar at present
Bankers
(1) MCB Bank Limited, Khyber Bazar Branch, Peshawar, Pakistan.
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani
Rupee |
|
US Dollar |
1 |
Rs. 62.50 |
|
UK Pound |
1 |
Rs. 122.30 |
|
Euro |
1 |
Rs. 92.40 |
Comments
Subject is a small company and is engaged in manufacture
& marketing of Pharmaceutical Products. Trade relations are not known. Such
as conducting business activity with the subject is considered to be a trade
risk.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)