|
Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
HIGH-Q PHARMACEUTICAL |
|
|
|
|
Registered Office : |
D-106, KDA Scheme-1, Karsaz
Road, Karachi |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
1993 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Manufacture & Marketing of
Pharmaceutical Products |
|
|
|
|
No. of Employees : |
86 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
pakistan - ECONOMIC OVERVIEW
Decades of
internal political disputes and low levels of foreign investment have led to
slow growth and underdevelopment in Pakistan. Agriculture accounts for more
than one-fifth of output and two-fifths of employment. Textiles account for
most of Pakistan's export earnings, and Pakistan's failure to expand a viable
export base for other manufactures has left the country vulnerable to shifts in
world demand. Official unemployment is 6%, but this fails to capture the true
picture, because much of the economy is informal and underemployment remains
high. Over the past few years, low growth and high inflation, led by a spurt in
food prices, have increased the amount of poverty - the UN Human Development
Report estimated poverty in 2011 at almost 50% of the population. Inflation has
worsened the situation, climbing from 7.7% in 2007 to more than 13% for 2011,
before declining to 9.3% at year-end. As a result of political and economic
instability, the Pakistani rupee has depreciated more than 40% since 2007. The
government agreed to an International Monetary Fund Standby Arrangement in
November 2008 in response to a balance of payments crisis. Although the economy
has stabilized since the crisis, it has failed to recover. Foreign investment
has not returned, due to investor concerns related to governance, energy,
security, and a slow-down in the global economy. Remittances from overseas
workers, averaging about $1 billion a month since March 2011, remain a bright
spot for Pakistan. However, after a small current account surplus in fiscal
year 2011 (July 2010/June 2011), Pakistan's current account turned to deficit
in the second half of 2011, spurred by higher prices for imported oil and lower
prices for exported cotton. Pakistan remains stuck in a low-income, low-growth
trap, with growth averaging 2.9% per year from 2008 to 2011. Pakistan must
address long standing issues related to government revenues and energy
production in order to spur the amount of economic growth that will be necessary
to employ its growing population. Other long term challenges include expanding
investment in education and healthcare, and reducing dependence on foreign
donors.
|
Source
: CIA |
HIGH-Q PHARMACEUTICAL
|
Registered
Address |
|
D-106, KDA Scheme-1, Karsaz
Road, Karachi, Pakistan |
|
Tel # |
92 (21) 34528153, 34528152 |
|
Fax # |
92 (21) 34312937 |
|
Email |
|
a. |
Nature of Business |
Manufacture
& Marketing of Pharmaceutical Products |
|
b. |
Year Established |
1993 |
|
c. |
National Tax # |
2469108 - 9 |
Plot No. 224, Sector 23, Korangi
Industrial Area, Karachi,
Pakistan
|
Subject Company was established as a Proprietorship business in 1993 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Atif Iqbal Mr. Iqbal Ahmed |
Pakistani Pakistani |
D-106, KDA Scheme-1, Karsaz Road, Karachi D-106, KDA Scheme-1, Karsaz Road, Karachi |
Business Business |
Proprietor Manager (Import) |
A. Subsidiary
None
B. Associated
Companies
(1) High-Q International, Pakistan.
(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 mainly
import from Companies belongs to India,
China & European Countries
(5) Its’ major
customers are Distributors, Traders, Pharmacies & Hospitals located at
Karachi & Hyderabad.
(6) Subject
operates from caption leased factory premises which is situated at industrial
area of Karachi.
(7)
Subject employs about 86
persons in its set up.
|
Manufacture & Marketing of Pharmaceutical Products by its brand names of
AMIKAYE, CEFAPEZONE, CYCIN, DAYTAXIME, DAYZONE, FAMOPSIN, FUGACIN, HIZONE,
REMETHAN, REMYCIN |
|
Year |
In Pak Rupees
|
|
2011 |
100,000,000/- (Estimated) |
The capacity and
production of the company’s plant is indeterminable as it is multi- product and
involves various processes of manufacture.
(1) Faysal Bank Limited, Pakistan.
(2) Habib Bank Limited, Pakistan.
(3) MCB Bank Limited, Pakistan.
(4) Standard Chartered Bank, Pakistan.
·
Karachi Chamber of Commerce & Industry.
·
Pakistan Pharmaceutical Manufacturers Association.
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 99.00 |
|
UK Pound |
1 |
Rs. 153.60 |
|
Euro |
1 |
Rs. 133.30 |
Subject Company
was established in 1993 and is engaged in manufacture & marketing of
Pharmaceutical Products. Trade relations are reported
as fair. Subject can be considered for normal business dealings at usual
trade terms and conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
UK Pound |
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.