MIRA INFORM REPORT
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Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
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Name : |
SYNAPSE CHEMICALS (PVT) LIMITED |
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Registered Office : |
18-J/2, |
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Country : |
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Year of Establishment : |
2007 |
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Com. Reg. No.: |
0060813 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import,
Indenting & Trading of Finished Pharmaceutical Products, Pharmaceutical
Raw Material etc |
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No. of Employees
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08 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Pakistan |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SYNAPSE CHEMICALS
(PVT) LIMITED
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Registered
Address |
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18-J/2, Johar Town,
Lahore-53700, Pakistan |
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Tel # |
92
(42) 35312461, 35312462,
+923458453397 |
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Fax # |
92
(42) 35220594 |
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Email |
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a. |
Nature of Business |
Import,
Indenting & Trading of Finished Pharmaceutical Products, Pharmaceutical
Raw Material etc |
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b. |
Year Established |
2007 |
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c. |
Registration # |
0060813 |
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Address |
11 - Ross Residencia, 1 - Campus Road, Canal Bank, Lahore, Pakistan |
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Tel # |
92 (42)
35170637, 35170638 |
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Fax # |
92 (42)
35220594 |
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Anser Munir Mir (Chartered Accountants) 1st
Floor, AOC Building, 4-A Mozang Road, Lahore,
Pakistan |
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Subject Company was established as a Private Limited Company in 2007 |
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Authorized Capital |
Rs. 500,000/- divided into 50,000 shares of Rs. 10/- each |
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Issued & Paid up Capital |
Rs. 500,000/- divided into 50,000 shares of Rs. 10/- each |
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Names |
Address |
Occupation |
Designation |
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Mr. Syed Faisal Zaman Mrs. Syeda Zerqa Faisal |
18-J/2,
Johar Town, Lahore 18-J/2,
Johar Town, Lahore |
Business Business |
Chief Executive Director |
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Names of Shareholders |
No. of Shares |
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Mr. Syed Faisal Zaman Mrs. Syeda Zerqa Faisal |
25,000 25,000 |
A. Subsidiary
None
B. Associated Companies
(1) Highnoon
International (Pvt) Limited, Pakistan.
Subject Company is engaged in import, indenting & trading of Finished Pharmaceutical Products, Pharmaceutical Raw Material etc.
It purchases raw material against L/C, D/A, D/P basis.
It sells against credit basis to its local customers.
It’s mainly import from China, Taiwan, India & Korea.
Its’ major customers are Pharmaceutical Companies, Distributon Companies etc.
Subject operates from caption leased office premises of area measuring 300 Sq. Yard which is situated at residential area of Lahore.
Subject employs about 8 persons in its set up.
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Year |
In Pak Rupees |
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2009 - 2010 |
20,000,000/- (Estimated) |
(Foreign)
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Subject mainly import from Companies belongs to China, Taiwan, India & Korea |
· Habib Bank Limited, Pakistan.
· Faysal Bank Limited, Pakistan.
· Bank Alfalah Limited, Pakistan.
· MCB Bank Limited, Pakistan.
· Lahore Chamber of Commerce & Industry.(LCCI)
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 91.10 |
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UK Pound |
1 |
Rs. 144.50 |
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Euro |
1 |
Rs. 119.30 |
Subject Company was established in
2007 and is engaged in import, indenting & trading business. Trade relations are reported as fair. Subject can be
considered for normal business dealings at usual trade terms and conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.42 |
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UK Pound |
1 |
Rs.81.93 |
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Euro |
1 |
Rs.67.67 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.