MIRA INFORM REPORT

 

 

Report Date :

29.08.2011

 

IDENTIFICATION DETAILS

 

Name :

OPAL LABORATORIES (PVT) LIMITED

 

 

Registered Office :

LC-41, L.I.T.E., Landhi, Karachi, Pakistan

 

 

Country :

Pakistan

 

 

Year Established:

1955

 

 

Com. Reg. No.:

0000737  

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture & 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

 

 

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Pakistan

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Business Name

 

OPAL LABORATORIES (PVT) LIMITED

                                   

 

Full Address       

 

Registered Address & Factory

LC-41, L.I.T.E., Landhi, Karachi, Pakistan

                       

Tel #

92 (21) 35020715, 35015110

Fax #

92 (21) 35020785

Email

opallab@khi.wol.net.pk,

arfeen@cyber.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business        

Manufacture & Marketing of Pharmaceutical Products

b.

Year Established

1955

c.

Registration #

0000737  

 

 

Branches

                       

In Lahore & Rawalpindi

 

           

Auditors

           

Munif Ziauddin & Co.

(Chartered Accountants)

Business Executive Centre, F/17/3, Block 8, Clifton, Karachi, Pakistan

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1955

 

Authorized Capital

Rs. 5,000,000/- divided into 50,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 2,500,000/- divided into 25,000 shares of Rs. 100/- each

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Tariq Ikram

 

 

 

 

Mr. Arif Ikram

Pakistani

 

 

 

 

Pakistani

 

 

 

67 & 68, Overseas Housing Society, Shaheed-e-Millat Road, Karachi

 

67 & 68, Overseas Housing Society, Shaheed-e-Millat Road, Karachi

Business

 

 

 

 

Business

 

 

 

Chief Executive

 

 

 

 

Director

 

 

 

 

 

Shareholders                

 

Names

No. of Shares

Mr. Tariq Ikram

 

Mr. Arif Ikram

 

Mrs. Rubina Ikram

 

Mrs. Surriya Raheel

 

Mr. Khalid Siddique

 

Mrs. Rashida Siddiqui

9,959

 

9,958

 

1,108

 

1,109

 

700

 

2,166

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

             None                                             

           

B.         Associated Companies

 

(1) Graphics Designing Printing & Packaging, Pakistan.

 

 

 

Products

 

Manufacture & Marketing of Pharmaceutical Products by its brand name including ALLERSAL, ALUPHAGEL, ANALGIN, ANAPRIN, ASMASAL, B.CLYSE, CERTINE, DIACORD, DIASTOP, DICROME, DOLOGIN, EXCIPRO, EXMYCIN, FEROPAL, FUROSAL, HIMOXIN, HYSONE, ISOCORD, KEYNET, LEVOCORT, LONGASAL, LOVESTAN, MURBEX, NOCONGEST, OMYCETIN, OPALEX -L, OPALEX EXTRA, OPALEX MULTI, OPOZOL, POLYZYMA, POLYZYMA-T, PRESACORD, QUINOCIN, RELIX, RIFASAL, SINEASE, URODONAL, VYTRAM

 

 

Number of Employees

 

152

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

170,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

 

Subject represent some companies regarding pharmaceutical raw material belongs to India, China & Europe                  

 

 

Customers

 

Mainly Individuals, Retailers, Pharmacies, Hospitals located in Peshawar & Quetta.

 

 

Bankers

 

(1)     Habib Bank Limited, Pakistan.

(2)     Standard Chartered Bank, Pakistan.

(3)     MCB Bank Limited, Pakistan.

(4)     Habib Metropolitan Bank Limited, Pakistan.

(5)     Askari Bank Limited, Pakistan.

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

·         Pakistan Pharmaceutical Manufacturers Association.(PPMA)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 86.75

UK Pound

1

           Rs. 141.80

Euro

1

           Rs. 124.80

           

 

Comments

 

Subject Company was established in 1955 and is engaged in manufacture & marketing of Pharmaceutical Products. Trade relations are reported as fair. Subject can be considered for normal business dealings at usual trade terms and conditions.

 

 

 

 

 

 

 

 

 

   

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.19

Euro

1

Rs.66.47

 

 

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

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

--

NB

                                       New Business

 

--

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.