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Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
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Name : |
BIOGEN PHARMA |
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Registered Office : |
8 K.M., |
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Country : |
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Date of Incorporation : |
2004 |
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Legal Form : |
Partnership |
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Line of Business : |
Import, Manufacture & Marketing of
Veterinary Pharmaceuticals and Medicines |
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|
|
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No. of Employees |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Pakistan |
B1 |
B1 |
|
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 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
|
Source
: CIA |
BIOGEN PHARMA
Registered Address
|
|
8 K.M., Chak Bali Road, Rawat, Rawalpindi,
Pakistan |
|
Tel # |
92 (51) 5488288, 5381123 |
|
Fax # |
92 (51) 5872025 |
|
a. |
Nature of Business |
Import, Manufacture & Marketing of
Veterinary Pharmaceuticals and Medicines |
|
b. |
Year Established |
2004 |
14, Alishan Plaza, Shamsabad,
Murree Road, Rawalpindi,
Pakistan
|
Subject Company was established as a Partnership business in 2004 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Ishtiaq Ahmed Mr. Ghulam Jilani |
Pakistani Pakistani |
8 K.M., Chak Bali
Road, Rawat, Rawalpindi 8 K.M., Chak Bali
Road, Rawat, Rawalpindi |
Business Business |
Managing Partner Partner |
|
None |
Subject Company is engaged in import, manufacture & marketing of Veterinary Pharmaceuticals and
Medicines.
Local sales are mostly on cash / credit term basis to its local customers.
It’s mainly import from China, Austria, Germany, Korea & India.
Its major customers are Feed Millers, Whole Sale Traders, Retail Traders, Government Veterinary Organizations, Live Stocks and Farmers.
Subject operates from caption leased premises located at industrial and
commercial centers of Islamabad.
Subject employs about 50 persons in its set up.
|
Year |
In Pak Rupees |
|
2012 |
22,000,000/- (Estimated) |
|
The capacity and production of the company’s plant is indeterminable as
it is multi-product and involves varying processes of manufacture |
|
Mainly from China, Austria, Germany, Korea & India |
|
(1) Habib Bank Limited, Pakistan. (2) Standard Chartered Bank, Pakistan. (3) MCB Bank Limited, Pakistan. (4) Bank Alfalah Limited, Pakistan. |
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 101.25 |
|
UK Pound |
1 |
Rs. 168.00 |
|
Euro |
1 |
Rs. 133.00 |
Subject Company was
established in 2004 and is engaged in import, manufacture & marketing of
Veterinary Pharmaceuticals and Medicines.
Trade relations are not known. Such as conducting business activity with
the subject is considered to be a trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.61 |
|
UK Pound |
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
|
|
Report Prepared
by : |
NIS |
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.