MIRA INFORM REPORT

Report Date :

13.12.2011

IDENTIFICATION DETAILS

Name :	GILLMAN PHARMACEUTICALS

Registered Office :	Plot 41/2A, Phase I & II, Industrial Estate, Hattar

Country :	Pakistan

Date of Incorporation :	30.11.2010

Legal Form :	Proprietorship

Line of Business :	Manufacture & Marketing of Pharmaceutical Products

No. of Employees :	25 persons

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Company

Payment Behaviour :	Unknown

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Business Name

GILLMAN PHARMACEUTICALS

Full Address

Registered Address & Factory

Plot 41/2A, Phase I & II, Industrial Estate, Hattar, Pakistan

Branch Office

1G4, Pak Business Centre, Near Ameen Hotel, G.T. Road Peshawar, Pakistan

Tel #	92 (995) 917791
Fax #	92 (995) 917791

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Pharmaceutical Products
b.	Year Established	November 30, 2010

Branches

None

Legal Status

Subject Company was established as a Proprietorship business in November 30, 2010

Details of Management

Names

Nationality

Address

Occupation

Designation

Mr. Muhammad Abdullah

Mr. Shahzad Iqbal

Pakistani

Plot 41/2A, Phase I & II, Industrial Estate, Hattar, Pakistan

Business

Proprietor

Manager (Import)

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, D/P basis.

(3) Its’ major customers are Distribution Companies, Trading Companies etc.

(4) Subject operates from caption leased factory premises of area measuring 2,000 Sq.Yard. which is situated at industrial area of Hattar.

(5) Subject employs about 25 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2010	Not ascertained as the subject is a new Company

Capacity & Production

The capacity and production of the company’s plant is indeterminable as it recently started its commercial production

Bankers

(1) MCB Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) Faysal Bank Limited, Pakistan.

(4) United Bank Limited, Pakistan.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 88.80
UK Pound	1	Rs. 138.50
Euro	1	Rs. 118.50

Comments

Subject Company is recently established and is engaged in manufacture & marketing of Pharmaceutical Products. Trade relations are not known as Company is new in this business. Such as conducting business activity with the subject is considered to be a trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.42
UK Pound	1	Rs.81.92
Euro	1	Rs.69.94

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%)

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