MIRA INFORM REPORT

Report Date :

12.09.2011

IDENTIFICATION DETAILS

Name :	HYGEIA PHARMACEUTICALS

Registered Office :	Plot No. 295, Industrial Triangle, Kahuta Road, Islamabad

Country :	Pakistan

Date of Incorporation :	May 2011

Legal Form :	Partnership Concern

Line of Business :	Import, Export & Trading of Pharmaceutical Products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New Concern

Payment Behaviour :	---

Litigation :	---

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 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Pakistan

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

Business Name

HYGEIA PHARMACEUTICALS

Concern Address

Registered Address

Plot No. 295, Industrial Triangle, Kahuta Road, Islamabad, Pakistan

Tel #	92 (51) 4490882, 4490983
Fax #	92 (51) 4490983

Short Description Of Business

a.	Nature of Business	Import, Export & Trading of Pharmaceutical Products
b.	Year Established	May 2011

Branches

Address	Suite No. 20, 5^th Floor, Abrar Business Center, 25 Main Wahdat Road, Lahore, Pakistan
Tel No.	92 (42) 37532773, 37532759
Fax No.	92 (42) 37532847

Legal Status

Subject Concern was established as a Partnership business in 2011

Details of Management

Names

Nationality

Address

Occupation

Designation

Mr. Raja Farrukh Javed

Mr. Muhammad Iqbal

Pakistani

Plot No. 295, Industrial Triangle, Kahuta Road, Islamabad

Business

Managing Partner

Partner

Associated Companies

(1) Neon Chemicals, Pakistan.

Business Activities

Subject Concern is engaged in import, export & trading of Pharmaceutical Products.

Local sales are mostly on cash / credit term basis.

It’s mainly import from China & India.

Its’ major customers are Pharmacies, Trading Companies.

Subject operates from caption leased office premises of area measuring 550 Sq.ft. which is situated at commercial area of Lahore.

Subject employs about 7 persons in its set up.

Annual Sales Volume

Year	In Pak Rupees
2010 - 2011	Not ascertained as the subject is a new Concern

Trade Suppliers

(Foreign)

Subject mainly import from Companies belongs to China & India

Bankers

(1) Standard Chartered Bank, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) Faysal Bank Limited, Pakistan.

(4) Bank Alfalah Limited, Pakistan.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 87.55
UK Pound	1	Rs. 138.80
Euro	1	Rs. 119.80

Comments

Subject Concern was established in 2011 and is engaged in import, export & trading business. Trade relations are not known. Concern is not well known in the local businesses. 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.46.38
UK Pound	1	Rs.74.01
Euro	1	Rs.64.48

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.