MIRA INFORM REPORT

Report Date :

17.02.2012

IDENTIFICATION DETAILS

Name :	NEXUS PHARMA (PVT) LIMITED

Registered Office :	Plot No. 4/19-4/36, Sector 21, Korangi Industial Area, Karachi

Country :	Pakistan

Year of Establishment :	2002

Com. Reg. No.:	0043381

Legal Form :	Private Limited Company

Line of Business :	Manufacture & Marketing of Pharmaceutical Products

No. of Employees :	108

RATING & COMMENTS

MIRA’s Rating :

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

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Pakistan

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

Business Name

NEXUS PHARMA (PVT) LIMITED

Full Address

Registered Address & Factory

Plot No. 4/19-4/36, Sector 21, Korangi Industial Area, Karachi, Pakistan

Tel #	92 (21) 35018132 - 34 (3 Lines), +923008295736
Fax #	92 (21) 35012699

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Pharmaceutical Products
b.	Year Established	2002
c.	Registration #	0043381

Branch (es)

1^st Floor, 117-C, 12^th East Street, Phase I, D.H.A., Karachi, Pakistan

Auditors

Feroze Sharif Tariq & Co.

(Chartered Accountants)

4-N/4, Block-6, P.E.C.H.S., Karachi, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 2002

Authorized Capital	Rs. 120,000,000/- divided into 12,000,000 shares of Rs. 10/- each
Issued & Paid up Capital	Rs. 120,000,000/- divided into 12,000,000 shares of Rs. 10/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Nazir Ahmed Shaikh

Mr. Ather Nazir Shaikh

Pakistani

Plot No. 4/19-4/36, Sector 21, Korangi Industial Area, Karachi

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Nazir Ahmed Shaikh

Mst. Nisar Khatoon Shaikh

Mr. Ather Nazir Shaikh

Mr. Liaquat Ali Shaikh

Mst. Rozina Khatoon Shaikh

Mr. Jawed Ali Shaikh

Mst. Rozina Jawed Shaikh

1,200,000

1,800,000

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Products

Manufacture & marketing of Pharmaceutical Products

Number of Employees

108

Annual Sales Volume

Year	In Pak Rupees
2010	150,000,000/- (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.

Trade Suppliers (Foreign)

(1) ASTELLAS DEUTSCHLAND GMBH, GERMANY.

(2) MIKA PHARMA GMBH, GERMANY.

(3) ALLERGAN, U.S.A.

(4) ZHEJIANG JINGXIN PHARMACEUTICAL IMPORT & EXPORT, CHINA.

Distributors Network

Mainly exist at Karachi, Rawalpindi, Lahore, Multan, Quetta & Peshawar

Bankers

(1) Soneri Bank Limited, Pakistan.

(2) Habib Metropolitan Bank Limited, Pakistan.

(3) Bank Alfalah Limited, Pakistan.

(4) KASB Bank Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 90.60
UK Pound	1	Rs. 142.70
Euro	1	Rs. 119.60

Comments

Subject Company was established in 2002 and is engaged in manufacture & marketing of Pharmaceutical Products. Overall reputation is satisfactory. 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.49.25
UK Pound	1	Rs.77.45
Euro	1	Rs.64.89

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.