MIRA INFORM REPORT

Report Date :

02.05.2008

IDENTIFICATION DETAILS

Name :	SHAREX LABORATORIES (PRIVATE) LIMITED

Registered Office :	K.L.P. Road P.O. Box No.11 Sadiqabad, Rahim Yar Khan

Country :	Pakistan

Date of Incorporation :	1962

Com. Reg. No.:	0001553

Legal Form :	Private Limited Company

Line of Business :	Manufacture and Marketing of Pharmaceutical Products

RATING & COMMENTS

MIRA’s Rating :

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

SHAREX LABORATORIES (PRIVATE) LIMITED

Full Address

Registered Address & Factory

K.L.P. Road P.O. Box No.11 Sadiqabad, Rahim Yar Khan, Pakistan

Tel	92 (68) 5702831, 5702024
Fax	92 (68) 5702853

Short Description Of Business

Nature of Business	Manufacture & Marketing of Pharmaceutical Products
Year Established	1962
Registration #	0001553

Branches

In Lahore at present

Auditors

M/s Rao & Company

(Chartered Accountants)

Zamindara Colony, Rahim Yar Khan, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1962

Authorized Capital	Rs. 10,000,000/- divided into 200,000 shares of Rs. 50/- each
Issued & Paid up Capital	Rs 5,441,000/- divided into 108,820 shares of Rs. 50/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Farooq Amin Bajwa

Mrs. Mirha Shahid

Mr. Usman Amin Bajwa

Mrs. Sara Farooq Bajwa

Mr. Abdul Aziz Singhera

Mr. Abrar Hussain Bajwa

Mr. Muhammad Amin Bajwa

Pakistani

K.L.P. Road P.O. Box No.11 Sadiqabad, Rahim Yar Khan

Business

Chief Executive

Director

Shareholders

Names

Mr. Farooq Amin Bajwa

Mrs. Mirha Shahid

Mr. Usman Amin Bajwa

Mrs. Sara Farooq Bajwa

Mr. Abdul Aziz Singhera

Mr. Abrar Hussain Bajwa

Mr. Muhammad Amin Bajwa

Associates

A. Subsidiary

None

B. Associated Companies

(1) M/S Millat Distributors (Pvt) Ltd, Pakistan.

Products

Manufacture & Marketing of Pharmaceutical Products by its brand name including ALKASEPTIC, ANAREN, BETASONE N, BIOMYCINE, CEPHALIN, CEREBRIN, COLPEN, CURIT, FALCIPAR, FERROSIL, FEVEROL DS, FURASEPTIC, LEXAPAM, M-CIL, M-DOX, METRODIL, PANPUROL, PYROFEN, RISEN, RISEN P, SHAREXOL, SILSUL, SULCAIN-M, SULPRIM, TETRACIN, THIABION

Number of Employees

176

Annual Sales Volume

Year	In Pak Rupees
2006	150,000,000/- (Estimated)

Trade Suppliers (Foreign)

Various International

Customers

Mainly Individuals, Retailers, Pharmacies, Hospitals located in Karachi, Lahore & other cities of Pakistan

Bankers & their addresses

Bank Alfalah Limited, Allama Iqbal Road, Sadiqabad, Pakistan.

MCB Bank Limited, Main Bazar Branch, Sadiqabad, Pakistan.

(3) Askari Commercial Bank Limited, Allama Iqbal Road, Sadiqabad, Pakistan.

Memberships

Multan Chamber of Commerce & Industry.(MCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 65.70
UK Pound	1	Rs. 130.40
Euro	1	Rs. 102.40

Comments

Subject Company was established in 1962 and is engaged in manufacture & marketing of Pharmaceutical Products. Trade relations are reported as fair. 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