MIRA INFORM REPORT

 

 

Report Date :

16.04.2012

 

IDENTIFICATION DETAILS

 

Name :

WISE PHARMACEUTICALS

 

 

Registered Office :

Plot # 3-A, Street # 1, National Industrial Zone, Rawat, Rawalpindi

 

 

Country :

Pakistan

 

 

Year of Establishment :

2007

 

 

Com. Reg. No.:

RF/RWP/76

 

 

Legal Form :

Partnership

 

 

Line of Business :

Manufacture & Marketing of Pharmaceutical Products

 

 

No. of Employees :

35

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Pakistan

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Business Name

 

WISE PHARMACEUTICALS

 

 

Full Address       

 

Registered Address & Factory

Plot # 3-A, Street # 1, National Industrial Zone, Rawat, Rawalpindi, Pakistan

                       

Tel #

92 (51) 3004697 (Still non operative due to technical reasons), +923335272037, +923455920582

Fax #

92 (51) 3004697

Email

wise_pharmaceuticals@yahoo.com

 

 

Short Description Of Business

 

a.

Nature of Business        

Manufacture & Marketing of Pharmaceutical Products

b.

Year Established

2007

c.

Registration No.

RF/RWP/76

 

 

Branches

           

None

 

 

Legal Status

 

Subject Company was established as a Partnership business in 2007

 

 

Details of Management

 

Names

Nationality

Address

Occupation

Designation

Mr. Pervez Chattha

 

 

 

 

Mr. Rajab Sultan Raja

 

 

 

Mr. Muhammad Rashid

Pakistani

 

 

 

 

Pakistani

 

 

 

 

Pakistani

Plot # 3-A, Street # 1, National Industrial Zone, Rawat, Rawalpindi

 

Plot # 3-A, Street # 1, National Industrial Zone, Rawat, Rawalpindi

 

Plot # 3-A, Street # 1, National Industrial Zone, Rawat, Rawalpindi

Business

 

 

 

 

Business

 

 

 

 

Business

 

 

Managing Partner

 

 

 

Partner

 

 

 

 

Partner

 

 

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)   It sells against Cash / Credit Terms to its local customers.

 

(4) Its’ major customers are Distributors, Traders, Pharmacies & Hospitals located at Rawalpindi, Islamabad.

 

(5) Subject operates from caption leased factory premises of area measuring   3,000 Sq.Yard. which is situated at industrial area of Islamabad.

 

(6)  Subject employs about 35 persons in its set up.

 

 

Products

           

Manufacture & Marketing of Pharmaceutical Products

 

 

Annual Sales Volume

 

Year
In Pak Rupees

2010

10,000,000/- (Estimated)

 

 

Capacity & Production

           

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

 

 

Authorized Distributors

 

Mainly at Rawalpindi & Islamabad

 

 

Bankers

 

(1)     Habib Bank Limited, Pakistan.

(2)     Bank Alfalah Limited, Pakistan.

(3)     KASB Bank Limited, Pakistan.

(4)     Silk Bank Limited, Pakistan.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 91.10

UK Pound

1

           Rs. 144.50

Euro

1

           Rs. 119.30

 

 

Comments

 

Subject Company was established in 2007 and is engaged in manufacture & marketing of Pharmaceutical Products. Trade relations are not known. 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.51.42

UK Pound

1

Rs.81.93

Euro

1

Rs.67.67

 

 

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.