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Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
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Name : |
CAYLEX PHARMACEUTICALS (PVT) LIMITED |
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Registered Office : |
84-C, New Muslim Town, Lahore |
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Country : |
Pakistan |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
0038859 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture & Marketing of Pharmaceutical
Products |
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No. of Employees : |
97 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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 |
CAYLEX
PHARMACEUTICALS (PVT) LIMITED
Registered
Address
|
|
84-C, New Muslim Town, Lahore, Pakistan |
|
Tel # |
92 (42) 35847583, 35847584 |
|
Fax # |
92 (42) 35847579 |
|
a. |
Nature of Business |
Manufacture
& Marketing of Pharmaceutical Products |
|
b. |
Year Established |
1998 |
|
c. |
Registration # |
0038859 |
|
Address |
27-K.M., Main Raiwind
Road, Lahore, Pakistan |
|
Tel # |
92 (42) 35330038, 35330039 |
|
Fax # |
92 (42) 35330038 |
Akram Saleem & Co.
(Chartered Accountants)
187, Ata Turk
Block, New Garden Town, Lahore, Pakistan
Subject Company was established as a Private Limited Company in 1998
|
6. |
Authorized Capital |
Rs. 10,000,000/- divided into 1,000,000
shares of Rs. 10/- each |
|
|
Issued & Paid up Capital |
Rs. 6,450,040/- divided into 645,004 shares of
Rs. 10/- each |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Humayun Riasat Mr. Shahanshah Riasat |
Pakistani Pakistani |
27-K.M., Main Raiwind Road, Lahore 27-K.M., Main Raiwind Road, Lahore |
Business Business |
Chief Executive Director |
|
Names |
No. of Shares |
|
Mr. Muhammad Humayun Riasat Mr. Shahanshah Riasat |
354,753 290,251 |
Manufacture & marketing of Pharmaceutical Products by its brand names of ANORAM, CAZYINE, FROBAFEN, NOTRES, TINOCARD-100, ATCORA, CAYZOLE, MALARIDOX, PPI-20, TINOCARD-50, AZOROX, CEFTI, NAPRIL, PUROD, CALOTREN, FAPA, NOBAR, ROCOCIN
97
The capacity and production of the company’s plant is
indeterminable as it is multi-product and involves varying processes of
manufacture.
|
Year |
In Pak Rupees |
|
2011 |
140,000,000/- (Estimated) |
Subject mainly import from Companies belongs to India, China
& European Countries
Mainly exist at major cities of Pakistan
|
Currency |
Unit |
Pakistani Rupees |
|
US Dollar |
1 |
Rs. 99.75 |
|
UK Pound |
1 |
Rs. 153.00 |
|
Euro |
1 |
Rs. 130.35 |
Subject Company was established in 1998 and is engaged in manufacture & marketing of Pharmaceuticals Products. Overall reputation is normal. 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.53.95 |
|
|
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.