MIRA INFORM REPORT

Report Date :

31.03.2011

IDENTIFICATION DETAILS

Name :	SYNCHRO PHARMACEUTICALS (PVT.) LIMITED

Registered Office :	77-Industrial Estate, Kot Lakhpat, Lahore

Country :	Pakistan

Year of Establishment :	2002

Com. Reg. No.:	0044270

Legal Form :	Private Limited Company

Line of Business :	Manufacture & Marketing of Pharmaceutical Products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Pakistan

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

Business Name

SYNCHRO PHARMACEUTICALS (PVT.) LIMITED

Full Address

Registered Address & Factory

77-Industrial Estate, Kot Lakhpat, Lahore, Pakistan

Tel #	92 (42) 35140756, 35140759
Fax #	92 (42) 35140764

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Pharmaceutical Products
b.	Year Established	2002
c.	Registration #	0044270

Branches

None

Auditors

Rahman Sarfaraz Rahim Iqbal Rafiq

(Chartered Accountants)

54-P, Gulberg II, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 2002

Authorized Capital	Rs. 3,000,000/- divided into 300,000 shares of Rs. 10/- each
Issued & Paid up Capital	Rs. 1,000/- divided into 100 shares of Rs. 10/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. M. Shams Mahmood Sadana

Dr. Mahmood Alam

Pakistani

77-Industrial Estate, Kot Lakhpat, Lahore, Pakistan

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. M. Shams Mahmood Sadana

Dr. Mahmood Alam

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Products

Manufacture & marketing of different pharmaceutical class like Anti Biotic, Anti Malarials, Anti-Rheumatic, Antihistamine, Narcotic Analgesic, Non Steroidal Respiratory Anti Inflamatory, Quinolones, Vitamins, Phenothiazine, Hypolipidaemics, Muscle Relaxant with their brand names of DIPROTOP-MD, EWORM, GASOPEL, GASTRICK, GASTROCID, HEMOPLEX F, LACTOFINE, POLYVIT L, SALBOVENTSYMEN, SYNADIN, SYNOPAR, ULTRAVIT, VENAGRO

Number of Employees

Annual Production Volume

The capacity and production of the company’s plant is indeterminable as it is multi-product and involves varying processes of manufacturing.

Annual Sales Volume

Year	In Pak Rupees
2009	50,000,000/- (Estimated)

Trade Suppliers

(Foreign)

· SHANDONG. PHARMACEUTICAL GLASS CO. LTD, CHINA.

· ZHUCHENG HAOTIAN PHARMA CO. LIMITED, CHINA.

Distributors Network

Mainly exist at Lahore, Multan & Interior Punjab

Bankers

(1) Allied Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) Bank Alfalah Limited, Pakistan.

(4) The Bank of Punjab, Pakistan.

Memberships

· Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 85.15
UK Pound	1	Rs. 136.46
Euro	1	Rs. 119.50

Comments

Subject Company was established in 2002 and is engaged in manufacture & marketing of Pharmaceuticals Products. Trade relations are reported as fair. Subject can be considered for normal business dealings at usual trade terms & conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.77
UK Pound	1	Rs.71.69
Euro	1	Rs.63.02

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%)

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.