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Report Date : |
16.07.2014 |
IDENTIFICATION DETAILS
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Name : |
ALLMED (PVT) LIMITED |
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Formerly Known As : |
EVERGREEN PHARMACEUTICALS (PVT) LIMITED |
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Registered Office : |
43-B, Phase III, G.E.C.H.S.,
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Country : |
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Date of Incorporation : |
2006 |
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Com. Reg. No.: |
0057481 |
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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 |
95 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Pakistan |
B1 |
B1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 was 6.6% in 2013, 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. 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 following two years, 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 3.5% per year from 2008 to 2013. 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
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Source
: CIA |
ALLMED (PVT) LIMITED
(FORMERLY NAME) :
EVERGREEN PHARMACEUTICALS (PVT) LIMITED)
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Registered Address |
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43-B, Phase III, G.E.C.H.S.,
Link Model Town, Road, Lahore, Pakistan |
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Tel # |
92 (42)
35202072, 35202073 |
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Fax # |
92 (42) 35161929 |
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Email |
Note:
The address “44 - M Block, opp the City School Campus Model Town Extension Lahore” not belongs to the subject Company
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a. |
Nature of Business |
Manufacture &
Marketing of Pharmaceutical Products |
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b. |
Year Established |
2006 |
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c. |
Registration # |
0057481 |
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Address |
Plot No. 590, Sundar Industrial Estate, Lahore, Pakistan |
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Tel No. |
92 (42) 35297458, 35297459 |
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Fax No. |
92 (42) 35297459 |
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M.A. Tabbasam & Co. (Chartered
Accountants) S-8, Ahmed Arcade, 161-Ferozepur Road, Lahore, Pakistan |
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Subject Company was established as a Private Limited Company in 2006 by the name of Evergreen Pharmaceuticals (Pvt) Limited. In 16/11/2010 its name was changed to Allmed (Pvt) Limited |
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6. |
Authorized Capital |
Rs. 60,000,000/-
divided into 600,000 shares of Rs. 100/- each |
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Issued & Paid up Capital |
Rs. 60,000,000/-
divided into 600,000 shares of Rs. 100/- each |
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Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Ejaz Mirza Mr. Muhammad Farooq Mr. Syed Khurram Bukhari Mr. Tariq Mehboob |
Pakistani Pakistani Pakistani Pakistani |
43-B, Phase-111 GECHS, Link, Model Town Road, Lahore 43-B, Phase-111 GECHS, Link, Model Town Road, Lahore 43-B, Phase-111 GECHS, Link, Model Town Road, Lahore 43-B, Phase-111 GECHS, Link, Model Town Road, Lahore |
Business Business Business Business |
Chief Executive Director Director Director |
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Names |
No. of Shares |
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Mr. Muhammad Farooq Mr. Iqbal Masood Dar Mr. Muhammad Arif Hashmi |
222,000 200,000 172,000 |
A. Subsidiary
None
B. Associated
Companies
(1) Mega Rose International, Pakistan
(2) Copier Traders (Pvt) Ltd, Pakistan.
Manufacture &
marketing of Pharmaceutical Products like Anti Biotic, Anti Malarials,
Anti-Rheumatic, Antihistamine, Narcotic Analgesic, Non Steroidal Respiratory
Anti Inflamatory, Quinolones, Vitamins, Phenothiazine, Hypolipidaemics, Muscle
Relaxant etc
95
The capacity and production
of the company’s plant is indeterminable as it is multi-product and involves
varying processes of manufacturing.
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Year |
In Pak Rupees |
|
2012 |
100,000,000/- (Estimated) |
Subject mainly import
from Companies belongs to India, China, Taiwan & European Countries
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Mainly exist at
major cities of Pakistan |
|
(1) Soneri Bank Limited, Pakistan. (2) The Bank of Punjab, Pakistan. (3) Habib Bank Limited, Pakistan. (4) Bank Alfalah Limited, Pakistan. (5) United Bank Limited, Pakistan. (6) Allied Bank Limited, Pakistan. |
Pakistan Pharmaceutical Manufacturers Associations.(PPMA)
Lahore Chamber of Commerce & Industry.(LCCI)
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Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 98.90 |
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UK Pound |
1 |
Rs. 169.00 |
|
Euro |
1 |
Rs. 134.25 |
Subject Company was established in 2006 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 & conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.22 |
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|
1 |
Rs.102.79 |
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Euro |
1 |
Rs.81.95 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.