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Report Date : |
09.09.2014 |
IDENTIFICATION DETAILS
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Name : |
MEDI PAK LIMITED |
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Registered Office : |
132/1, Quaid-e-Azam Industrial Estate,
Kotlakhpat, |
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Country : |
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Date of Incorporation : |
1981 |
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Com. Reg. No.: |
0009170 |
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Legal Form : |
Non-Listed Public Limited Company |
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Line of Business : |
Engaged in manufacture & marketing of Pharmaceutical
Products. |
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No. of Employees : |
124 |
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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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Pakistan |
B2 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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
|
Source
: CIA |
MEDI PAK LIMITED
Registered Address & Factory
|
|
132/1, Quaid-e-Azam Industrial
Estate, Kotlakhpat, Lahore, Pakistan |
|
Tel # |
92 (42) 35116552, 35116612 |
|
Fax # |
92 (42) 35116522, 35114929 |
|
Email |
|
a. |
Nature of Business |
Engaged in
manufacture & marketing of Pharmaceutical Products |
|
b. |
Year Established |
1981 |
|
c. |
Registration No. |
0009170 |
|
Address |
C-252, Block-6, P.E.C.H.S., |
|
Tel # |
92 (21) 4533353 |
|
Fax # |
92 (21) 4533353 |
|
Ford Rhodes Sidat Hyder & Co. (Chartered Accountants) |
|
Subject Company was established as a
Non-Listed Public Limited Company in 1981 |
|
Authorized Capital |
Rs. 150,000,000/-
divided into 15,000,000 shares of Rs. 10/- each |
|
Issued & Paid up Capital |
Rs. 75,000,000/-
divided into 7,500,000 shares of Rs. 10/- each |
|
Names |
Designation |
|
Dr.
Muhammad Khalid Javaid Chowdhry Mr. Nasir
Javaid Chowdhry Dr.
Khalida Javaid Miss.
Nosheen Khalid Miss. Naureen
Khalid Mr.
Naveed Khalid Chowdhry Mr.
Muhammad Tariq Javaid |
Chief Executive Director Director Director Director Director Director |
|
Names |
No of Shares |
|
Dr. Muhammad Khalid Javaid
Chowdhry Mr. Nasir Javaid Chowdhry Dr. Khalida Javaid Miss. Nosheen Khalid Miss. Naureen Khalid Mr. Naveed Khalid Chowdhry Mr. Muhammad Tariq Javaid Mr. Athar Javaid Mr. Muhammad Tahir Javaid Ms. Nilofar Yaqoob Dr. Almas Bashir Mr. Rishad Haider |
4,069,648 220,952 300,001 806,070 806,070 806,070 166,441 80,096 74,121 71,323 71,322 27,886 |
|
(1) Uniplan Trade International, Pakistan. |
|
AQUASTERIL, BABILYTE, CIPROFENA, EFEMOLINE, ERYCINA,
FRESOFOL, HERPIDU, INFECTOFLAM, KETOSTERIL, LOZIP, MEDIBACT, MEDICAINE,
MEDICARPINE, MEDICHLOR, MEDICOR, MEDIDEX, MEDIDEX-C, MEDIGENTACIN,
MEDIPARINE, MEDIPHAKOL, MEDIPHRINE, MEDISEPT, MEDITIM, MEDITROL, MEDRYSONE,
MYDRIATICUM, NAAXIA, NACLOF, NOVESIN, OCULOSAN, PANAFIN, SPERSADEX,
SPERSADEXOLINE, SPERSALLERG, SPERSANICOL, SULPHAMED, TOBRAXIA, TROPICAFIN,
VISCOTEARS, VITACHLOR, VITREOLENT |
Subject Company is engaged in manufacture & marketing of Pharmaceutical
Products.
Payments would be accepted / made through L/C, D/P basis.
Local sales are mostly on cash / credit term basis to its domestic customers.
Its exporting countries are Afghanistan, Azerbaijan, Iraq, Libya, Malaysia, Senegal, Mauritius, Srilanka, Sudan, Morocco & Yemen
It’s mainly import from China, Korea, India & European Countries.
Its major customers are Distribution Companies, Pharmacies, Private & Government Hospitals, Buying Agencies etc.
Subject operates from caption leased factory premises
located at industrial
area of Lahore.
Subject employs about 124 persons in its set up.
|
Year |
In Pak Rupees |
|
2013 |
320,000,000/- (Estimated) |
|
The capacity and production
of the company’s plant is indeterminable as it is multi-product and involves
varying processes of manufacture |
|
(1) PHARMAPLAN GMBH,
GERMANY. (2) QINGDAO BRIGHT
MOON SEAWEED GROUP CO LTD, CHINA. (3) BASELL POLYOLEFINS COMPANY, BELGIUM. (4) FRESENIUS MEDICAL CARE, GERMANY. (5) BAXTER HEALTH CARE CORPORATION, U.S.A. (6) SCHWIND EYE-TECH SOLUTIONS, GERMANY. (7) ROQUETTE FRERES, FRANCE. |
|
(1) Habib Bank
Limited, Pakistan. (2) Silk Bank
Limited, Pakistan. (3) Habib
Metropolitan Bank Limited, Pakistan. (4) Faysal Bank
Limited, Pakistan. (5) Bank Alfalah
Limited, Pakistan. |
·
Lahore Chamber of
Commerce & Industry.(LCCI)
·
Pakistan Pharmaceutical
Manufacturers Association.(PPMA)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 101.90 |
|
UK Pound |
1 |
Rs. 166.00 |
|
Euro |
1 |
Rs. 133.60 |
Subject Company was
established in 1981 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 and conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.26 |
|
|
1 |
Rs.97.51 |
|
Euro |
1 |
Rs.77.94 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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 |
|
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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 |
|
|
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.