MIRA INFORM REPORT

Report Date :

25.02.2011

IDENTIFICATION DETAILS

Name :	HERBION PAKISTAN (PVT) LIMITED

Registered Office :	Plot # 30, Sector 28, Korangi Industrial Area, Karachi

Country :	Pakistan

Year of Establishment :	1983

Com. Reg. No.:	0011006

Legal Form :	Private Limited Company

Line of Business :	Manufacture & Marketing of Herbal Medicines

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	US $ 18,000

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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Pakistan

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

Business Name

HERBION PAKISTAN (PVT) LIMITED

Full Address

Registered Address & Factory

Plot # 30, Sector 28, Korangi Industrial Area, Karachi, Pakistan

Tel #	92 (21) 111-503-111
Fax #	92 (21) 35044263
Email	info@herbion.com

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Herbal Medicines
b.	Year Established	1983
c.	Registration #	0011006

Branches

In Lahore & Islamabad

Auditors

Ford Rhodes Sidat Hyder & Co.

(Chartered Accountants)

Progressive Plaza, Beaumont Road, Karachi, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1983

Authorized Capital	Rs. 250,000,000/- divided into 2,500,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 149,998,700/- divided into 1,499,987 shares of Rs. 100/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Nadeem Khalid

Mrs. Hoori Noorani

Mr. Khurram Khalid

Pakistani

Plot # 30, Sector 28, Korangi Industrial Area, Karachi

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Nadeem Khalid

Mrs. Hoori Noorani

Mr. Khurram Khalid

Herbion International Inc

1,499,972

Associates

A. Subsidiary

None

B. Associated Companies

· Pakistan Publishing House, Pakistan.

Products

Manufacture & Marketing of Herbal Medicines by its brand names of VERONA, EVICA, LINKUS, INTELLAN, BONJIGAR, ALFAGIN, ENTOBAN, VIVABON, PEDION

Number of Employees

189

Annual Production Volume

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
2009	240,000,000/- (Estimated)

Importing Countries

Import of Pharmaceutical Raw Materials from European Countries, India & China

Distributors

Currently exist at all major cities of Pakistan

Exporting Countries

Mainly to Srilanka, Vietnam, Afghanistan, Kenya & CIS Countries

Bankers

· Faysal Bank Limited, Pakistan.

· Habib Bank Limited, Pakistan.

· Habib Metropolitan Bank Limited, Pakistan.

· Soneri Bank Limited, Pakistan.

· Bank Alfalah Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 85.40
UK Pound	1	Rs. 137.86
Euro	1	Rs. 116.80

maximum credit limit

US $ 18,000

Comments

Subject Company was established in 1983 and is engaged in manufacture & marketing of Herbal Medicines. Market reputation is good. 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.45.37
UK Pound	1	Rs.73.54
Euro	1	Rs.62.39

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

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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