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Report No. : |
315529 |
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Report Date : |
03.04.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
23 K.M., Multan Road (Chung), Lahore |
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Country : |
Pakistan |
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Year of Establishment : |
1960 |
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Com. Reg. No.: |
0006071 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing of Human, Veterinary & Poultry Medicines |
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No. of Employees : |
370 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Pakistan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 |
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Registered
Address & Factory |
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23 K.M., Multan Road (Chung), Lahore,
Pakistan |
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Tel # |
92 (42) 37511331, 37510690, 37512621,
37512622 |
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Fax # |
92 (42) 37510163, 37512622 |
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Email |
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a. |
Nature of Business |
Manufacturing of Human, Veterinary &
Poultry Medicines |
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b. |
Year Established |
1960 |
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c. |
Registration # |
0006071 |
Veterinary
Medicines Dept
23-KM,
Multan Road Lahore, Lahore, Pakistan.
Human
Medicines Dept
|
125-A, Canal View, Thoker Niaz Beig, Lahore,
Pakistan. |
|
Aslam Malik & Co. (Chartered
Accountants) |
|
Subject was established as a Partnership business in 1960 then
afterward its legal status was changed to Private Limited Company in 1978 |
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Authorized Capital |
Rs. 60,000,000/- divided into 600,000 shares
of Rs.100/- each |
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Issued & Paid up Capital |
Rs. 39,950,000/- divided into 399,500 shares
of Rs.100/- each |
|
Names |
Designation |
|
Mr. Muhammad Asrar Hussain Malik Mr. Muhammad Asher H. Malik Mr. Amir Islam Mr. Chaudhary Rehmatullah |
Chief Executive Director Director Director |
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Names |
No. of Shares |
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Mr. Muhammad Asrar Hussain Malik Mr. Muhammad Asher H. Malik Mr. Chaudhary Rehmatullah Mrs. Mudassara Amir Mrs. Amber Asher Mrs. Faiza Asrar Mr. Amir Islam Mrs. Tahira Aslam Mr. Malik Muhammad Aslam Mr. Malik Muhammad Javaid |
1,798,050 1,798,050 400 107,500 50,000 50,000 50,000 47,000 47,000 47,000 |
A. Subsidiary
None
B. Associated Companies
(1) Champion Trading
Corporation, Pakistan
Manufacture & Marketing of Human, Veterinary & Poultry Medicines
370
(Combined Human & Veterinary Division)
|
SECTION |
RATED CAPACITY ON SINGLE SHIFT BASIS |
UTILIZED CAPACITY |
UN-UTILIZED CAPACITY |
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INJECTIONS: |
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Ampoules |
70800000 Nos. |
42480000 Nos. |
28320000 Nos. |
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Vials |
9600000 Nos. |
5760000 Nos. |
3840000 Nos. |
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Solutions |
240000 Ltr. |
144000 Ltr. |
96000 Ltr. |
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TABLETS: |
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Tablets |
213600000 Nos. |
128160000 Nos. |
85440000 Nos. |
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Boluses |
7200000 Nos. |
4320000 Nos. |
2880000 Nos. |
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OINTMENTS: |
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Ointments |
1728000 Tubes |
NIL |
1728000 Tubes |
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LIQUIDS: |
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Syrup/Drops |
614400 Ltr. |
368640 Ltr. |
245760 Ltr. |
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CAPSULES: |
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Capsules |
9600000 Nos. |
4500000 Nos. |
5100000 Nos. |
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POWDERS: |
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Formulated |
30000000 Pkt. |
15000000 Pkt. |
15000000 Pkt. |
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Repacked |
2880000 Jars/Bags |
1728000 Jars/Bags |
1152000 Jars/Bags |
|
Year |
In Pak Rupees |
|
2013 |
859,270,652/- |
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The capacity and
production of the Company’s plant is indeterminable as it is multi-product and involves varying
processes of manufacture |
Mainly to Saudi Arabia, Kuwait, Sri Lanka, Nigeria, Sudan, U.A.E,
Ethiopia, Lebanon, Kenya, Yemen, Mauritius, Mauritania, Turkmenistan,
Uzbekistan, Guyana and Somalia
|
In all major cities of Pakistan and 10 countries of the world |
|
Year |
In US Dollar ($) |
|
2013 |
2,000,000/- (Estimated) |
|
(1) Bank Al-Habib Limited, Pakistan. (2) Bank Alfalah
Limited, Pakistan. (3) MCB Bank Limited,
Pakistan. (4) Standard
Chartered Bank, Pakistan. (5) Habib Bank
Limited, Pakistan. (6) Faysal Bank
Limited, Pakistan. (Total Mortgage
obtained PKR: 116,000,000/-) |
|
Payments would be accepted / made through L/C,
D/A, D/P basis |
Many new products has been obtained and being added into production. The
Human Medicines Section is being re-organized with the view to enhance its
productivity and sales. Sales promotion of proprietary drugs is being arranged
so as to mobilize the sales promotion department. On veterinary side, endeavors
are being stepped up to obtain local manufacturing rights of productions of
foreign manufacturers, especially, which are already registered and being sold
in Pakistan. In order to increase sales of human medicines, registration of
Star Laboratories with major government institutions have been applied and
being followed up. For the implementation of above program the induction of new
investors on the basis of equity participation or joint venture is being
solicited.
·
Lahore Chamber of Commerce & Industry.(
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 102.65 |
|
UK Pound |
1 |
Rs. 152.50 |
|
Euro |
1 |
Rs. 110.25 |
Star Laboratories (Pvt.) Limited was established in 1960 and is engaged in manufacture & export of
Live Saving Drugs and Medicines for human and veterinary / poultry use. Company’s reputation is good. 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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.