MIRA INFORM REPORT

 

 

Report Date :

02.05.2008

 

 

IDENTIFICATION DETAILS

 

Name :

GETZ PHARMA (PRIVATE) LIMITED

 

 

Formerly Known as :

SAITEX PHARMACEUTICALS (PRIVATE) LIMITED

 

 

Registered Office :

Plot # 30/31, Sector - 27, Korangi Industrial Area, Karachi

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1983

 

 

Com. Reg. No.:

K-186/7711

 

 

Legal Form :

Private Limited Company

 

 

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

 

GETZ PHARMA (PRIVATE) LIMITED

 

 

Full Address       

 

Registered Address & Factory

Plot # 30/31, Sector - 27, Korangi Industrial Area, Karachi, Pakistan

                       

Tel

92 (21) 5063100, 101, 102, 5057867, 68, 69

Fax

92 (21) 5060141

Email

kmahmood@getzpharma.com

 

 

 

Short Description Of Business

 

Nature of Business           

Manufacture & Marketing of Pharmaceutical Products

Year Established

1983

Registration #

K-186/7711

 

 

Branches

 

In Lahore, Islamabad, Rawalpindi & Multan

 

                       

Auditors

 

Ford Rhodes Sidat Hyder & Co.

(Chartered Accountants)

7th Floor, Progressive Plaza, Beaumont Road, Karachi, Pakistan

 

 

Legal Status

 

Subject Company was established by the name of “SAITEX PHARMACEUTICALS (PRIVATE) LIMITED” in 1983 then afterwards its name was changed to “GETZ PHARMA (PRIVATE) LIMITED”

 

 

 

Authorized Capital

Rs. 150,000,000/- divided into 1,500,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 102,300,000/- divided into 1,023,000 shares of Rs. 100/- each

 

 

 

 

 

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Khalid Mahmood

 

 

Mr. Raymond Simkins

 

 

 

Mr. Javed Ghulam Mohammad

Pakistani

 

 

 

British

 

 

 

 

Pakistani

House # 65/1, 3rd Street, Phase-V, D.H.A., Karachi

 

Plot # 30/31, Sector - 27, Korangi Industrial Area, Karachi

 

404-B, Royal Apartments, KDA Scheme 1, Karachi

Business

 

 

 

Business

 

 

 

 

Business

 

Chief Executive

 

 

Director

 

 

 

 

Director

 

 

 

Shareholders                

 

Names

No. of Shares

M/s Development Holdings Asia Limited, Ansbacher House, 2nd Floor, East & Shirley Streets, North P.O. Box N-9934, Nassau, Bahamas

1,023,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

None                                            

           

 

B.         Associated Companies

 

(1) Getz Health (Private) Limited, Pakistan          

 

 

Products

 

ADVANT, ALLERGET, ALSEF, ASACOL, CELBEXX, CLARITEK, COLPERMIN, ETIDOXINE, EZITA, FEXET, GETIFLOX, GETRYL, HILER, LEFLOX, LILAC, LIPIGET, MALTOFER, MONTIGET, NEXUM, PANSLAY, PANTRA, PRAZ, RAPIGET, RIBAZOLE, RISEK, SETNIZOLE, TRUPRIL, UNIFERON, ZOLID

 

 

Number of Employees

 

232

 

 

 

 

Actual Capacity & Production

 

The capacity and production of the Company’s plant is indeterminable as it is multi-product and involves varying processes of manufacture

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2006

220,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

           

(1) CAPSUGEL (THAILAND) CO. LIMITED.

(2) MARS FINE CHEMICALS, SINGAPORE.

(3) ALCAN PACKAGING INC, GERMANY.

 

 

Distributors

 

Mainly in all important cities of Pakistan

 

 

Bankers and their addresses

 

(1) Union Bank Limited, I.I. Chundrigar Road, Karachi, Pakistan.(Finance obtained PKR 150,000,000/-)

 

(2) Faysal Bank Limited, Trade Centre, I.I. Chundrigar Road, Karachi, Pakistan.( Finance obtained PKR 94,000,000/-)

 

(3) The Hong Kong Shanghai Banking Corporation, M. R. Kiyani Road, Karachi, Pakistan.(Finance obtained PKR 67,000,000/-)

 

 

Financial Position

 

Sound

 

 

Memberships

 

·         Pakistan Pharmaceutical Manufacturers Association.(PPMA)

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

 

 

 

 

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 is a well-established Company having fine track. Their trade relations are reported as fair. Payments are usually correct and as per commitments. 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