|
Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GILLMAN PHARMACEUTICAL (GP) |
|
|
|
|
Registered Office : |
Plot 41/2A Phase I & II Industrial Estate, Hattar |
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|
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Country : |
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|
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Year of Establishments: |
2010 |
|
|
|
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Legal Form : |
Partnership Concern |
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|
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Line of Business : |
Engaged in manufacturing and trading of Pharmaceutical Products including Anti-Infective Drugs (Ciprogil & levogil) |
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|
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No. of Employees : |
20 |
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 |
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|
|
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 under 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 almost 12% for 2011,
before declining to 10% in 2012. 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 fiscal year 2012, 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 about 3% per year from 2008 to 2012. Pakistan must
address long standing issues related to government sales and energy production
in order to spur the amount of economic growth that will be necessary to employ
its growing and rapidly urbanizing population, more than half of which is under
22. Other long term challenges include expanding investment in education and
healthcare, adapting to the effects of climate change and natural disasters,
and reducing dependence on foreign donors.
|
Source : CIA |
GILLMAN
PHARMACEUTICAL (GP)
|
Business Name |
GILLMAN PHARMACEUTICAL (GP) |
|
Office Address |
Registered
Address Plot 41/2A Phase I & II Industrial Estate, Hattar |
|
Telephone |
+92-995-617791 +92-333-5157667 |
|
Fax |
Not Provided |
|
Email |
|
|
Website |
|
|
Business
activities |
Manufacturing
and trading of pharmaceutical product |
GP is a partnership firm hence registration with any regulatory body is
not mandatory.
|
CRO Registration
Number |
N/A |
|
Date of
Registration |
Other registry
& certification details:
|
Current Legal
Form |
Partnership Concern |
|
National Tax
Registration Number |
Undetermined |
|
Date of
Registration |
Undetermined |
|
GST Registration
Number |
Undetermined |
|
Date of
Registration |
Undetermined |
|
Chamber of
Commerce & Industry |
Undetermined |
|
ISO
Certification |
Undetermined |
|
Other
certifications |
Undetermined |
Capital
|
Type |
No. of Shares |
Par Value |
Total Value |
|
Authorized |
N/A |
||
|
Issued,
Subscribed & Paid-Up |
|||
History
|
Who started |
Mr. Muhammad
Abdullah |
|
When started |
2010 |
|
Change in
management |
None |
|
Year of change |
N/A |
|
Change in legal
status |
None |
|
Year of change |
N/A |
|
Change in business
name |
None |
|
Year of change |
N/A |
(SPONSORS)
|
Name |
Profit/Loss Sharing Ratio |
Nationality |
Appointment Date (Last) |
|
Mr. Muhammad
Abdullah |
|
Pakistani |
2010 |
|
Other partner’s details
not provided by contacted person. |
|||
|
Name |
Position in organization |
Qualification |
Years in
employment |
|
Mr. Muhammad Abdullah |
Managing Partner |
Undetermined |
Undetermined |
|
Statutory offices |
Name of service provider |
|
Statutory Auditors |
Not Disclosed |
|
Legal Advisory Services |
Not Disclosed |
|
Bank name |
Approved
financing limits PKR |
|
Not Disclosed |
|
Subject business is involved in manufacturing and trading of pharmaceutical products since 2010.
Its product
include:
|
Anti-infective drugs |
|
Purchases (Incl.
Imports)
|
Imports from |
Not Disclosed |
|
Importing terms |
|
|
Local |
|
|
Local buying
terms |
Sales (Incl.
Exports)
|
Exports to |
80% Afghanistan |
|
Exporting terms |
N/A |
|
Local (%) |
20% (All over Pakistan) |
|
Local selling
terms |
Cash Basis |
|
Nature
of employment |
Current
Year |
Previous
Year |
|
All Staff |
20 |
20 |
|
Total |
20 |
20 |
|
Head Office
& Factory Address Owned / Rented Area (approx) |
Plot 41/2A Phase I & II Industrial Estate, Hattar Undetermined Undetermined |
During the market check of GP,
we contacted various suppliers / competitors of the subject concern. In their
opinion subject concern is a good player of the industry and enjoys good
reputation in the market. Market sources further mentioned that GP is
known as a profitable and prosperous business in the industry. No complaints or
disputes were reported during the market check.
|
Business Name |
City |
Line of Business |
Percentile
of Shareholding |
|
None disclosed
by the contact person |
|||
The contact person decline to share the financial information.
|
Contact person |
Mr. Muhammad Abdullah |
|
Position |
Managing Partner |
|
Contact Person
Comments |
Mr. Muhammad Abdullah confirmed business operations and business
information however; he declined to share financial information. |
|
Analyst’s
Observations/ comments |
i)
Mr. Muhammad Abdullah said that the subject has been
established in Year 2010 and has been operating since its establishment. ii)
The concerned person said that the subject has
been involved in the business of manufacturing & trading of
pharmaceutical products. iii)
The subject office is located in Industrial Area,
Hattar. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.45 |
|
UK Pound |
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.84.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.