|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALLMED SOLUTIONS |
|
|
|
|
Registered Office : |
A-21/3, KDA Scheme No.1 (Ext), Opposite
Main Gate, National Stadium, |
|
|
|
|
Country : |
|
|
|
|
|
Year of Establishment : |
2007 |
|
|
|
|
Legal Form : |
Proprietorship business |
|
|
|
|
Line of Business : |
Engaged in providing services related to pharmaceutical, biotechnology
and medical device industries |
|
|
|
|
No of Employees : |
10 |
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 |
|
Maximum Credit Limit : |
In Pal Rupees 1,000,000 |
|
|
|
|
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 – 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 revenues 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 |
ALLMED SOLUTIONS
Registered Address
|
|
A-21/3, KDA Scheme No.1 (Ext), Opposite Main Gate, National
Stadium, Karachi, Pakistan |
|
Tel # |
92 (21) 34963827, 34963107 |
|
Fax # |
92 (21) 34971429 |
|
a. |
Nature of Business |
Engaged in providing services related to pharmaceutical, biotechnology
and medical device industries |
|
b. |
Year Established |
2007 |
|
c. |
National Tax # |
2975785 - 1 |
None
Subject Company was established as a Proprietorship business in 2007
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mrs. Sadaf Mirza |
Pakistani |
A-21/3,
KDA Scheme No.1 (Ext), Opposite Main Gate, National Stadium, Karachi |
Business |
Proprietor |
(1) Universal Research Group, Pakistan.
(2) Allmed Laboratories, Pakistan.
Subject Company is engaged in providing services related to
pharmaceutical, biotechnology and medical device industries.
Local sales are mostly on cash / credit terms basis to its local
customers.
It’s mainly import from China, Taiwan, Korea, Germany, Singapore
& U.K.
Its major customers are Pharmaceutical Companies, Biotechnology
Companies etc.
Subject operates from caption leased office premises of area measuring
500 Sq. Yards situated at residential area of Karachi
Subject employs about 10
persons in its set up.
|
Year |
In Pak Rupees |
|
2012 |
20,000,000/- (Estimated) |
Subject mainly import from Companies belongs to China, Taiwan, Korea, Germany, Singapore &
U.K.
(1) Bank Alfalah Limited, Pakistan.
(2) Bank Al-Habib Limited, Pakistan.
(3) Askari Bank Limited, Pakistan.
(4) Faysal
Bank Limited, Pakistan.
·
Karachi Chamber of Commerce & Industry.(KCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 105.60 |
|
UK Pound |
1 |
Rs. 176.80 |
|
Euro |
1 |
Rs. 144.75 |
Subject Company
was established in 2007 and is engaged in providing services related to pharmaceutical,
biotechnology and medical device industries. 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. 62.28 |
|
|
1 |
Rs. 103.84 |
|
Euro |
1 |
Rs. 85.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.