MIRA INFORM REPORT
|
Report No. : |
332843 |
|
Report Date : |
21.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
LAB MEDIKAL SOLUTIONS |
|
|
|
|
Registered Office : |
H # 77, Rahe-E-Aman Road, New Lalazar, Rawalpindi |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
2011 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of Business : |
Engaged in import & trading of
Bio-Medical Equipment’s & Devices, Medical Supplies |
|
|
|
|
No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
Payment Behaviour : |
Slow but correct |
|
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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-fourth of output and two-fifths of employment.
Textiles account for most of Pakistan's export earnings, and Pakistan's failure
to diversify its exportshas left the country vulnerable to shifts in world
demand. Official unemployment was 6.9% in 2014, but this fails to capture the
true picture, because much of the economy is informal and underemployment
remains high. Pakistan’s human development continues to lag behind most of the
region.. As a result of political and macroeconomic instability, the Pakistani
rupee has depreciated more than 40% since 2007. The government agreed to an
International Monetary Fund Standby Arrangement in November 2008 to preventa
balance of payments crisis, but the IMF ended the Arrangement early because of
Pakistan’s failure to implement required reforms. The economy has stabilized,
it continues to underperform and foreign investment has not returned to levels
seen during themid-2000’s, due to investor concerns related to governance,
electricity shortages, , and a slow-down in the global economy. Remittances
from overseas workers, averaging more than$1 billion a month, remain a bright
spot for Pakistan. After a small current account surplus in fiscal year 2011
(July 2010/June 2011), Pakistan's current account turned to a deficit where it
remained through 2014, spurred by higher prices for imported oil and lower
prices for exported cotton. In September 2013, after facing balance of payments
concerns, Pakistan entered into a three-year, $6.7 billion IMF Extended Fund
Facility. The Sharif government has since made modest progress implementing
fiscal and energy reforms, and in December 2014 the IMF described Pakistan’s
progress as “broadly on track.” Pakistan remains stuck in a low-income,
low-growth trap, with growth averaging about 3.5% per year from 2008 to 2014.
Pakistan must address long standing issues related to government revenues and
the electricity and natural gas sectorsin 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 |
Business
Name
LAB MEDIKAL SOLUTIONS
Full
Address
|
Registered Address |
|
H # 77, Rahe-e-Aman Road, New Lalazar, Rawalpindi, Pakistan |
|
Tel # |
92 (51) 5151484 |
|
Fax # |
92 (51) 5151420 |
Short
Description Of Business
|
a. |
Nature of Business |
Engaged in import & trading of
Bio-Medical Equipment’s & Devices, Medical Supplies |
|
b. |
Year Established |
2011 |
Branches
|
None |
Legal
Status
|
Subject Company was established as a Proprietorship business in 2011 |
Details
of Management
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Amer Javed |
Pakistani |
H # 77, Rahe-e-Aman Road, New Lalazar, Rawalpindi |
Business |
Proprietor / Business Development Manager |
Associated
Companies
|
None |
Business
Activities
Subject Company is engaged in import
& trading of Bio-Medical Equipments & Devices, Medical Supplies.
Local sales are mostly on cash term basis to its domestic customers.
It’s mainly import from U.S.A.,
Taiwan, Austria, Germany Korea, Malaysia & China.
Its major customers are Private & Government Hospitals, Pharmacies
etc
Subject operates from rented office premises situated at commercial area
of Rawalpindi, Islamabad.
Subject employs about 5 persons in its set up.
Annual
Sales Volume
|
Year |
In Pak Rupees |
|
2014 |
10,000,000/- (Estimated) |
Trade
Suppliers (Foreign)
|
(1) TECO DIAGNOSTICS, U.S.A. (2) AHN BIOTECHNOLOGIES, GERMANY. (3) MOSSMAN, U.S.A. (4) DIA-LAB, AUSTRIA. (5) JD-BIOTECH, TAIWAN. |
Bankers
|
(1) Askari Bank Limited, Pakistan. (2) Bank Alfalah Limited, Pakistan. (3) Faysal Bank Limited, Pakistan. (4) Habib Bank Limited, Pakistan. |
Memberships
Rawalpindi Chamber of Commerce & Industry.(RCCI)
Foreign
Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 102.70 |
|
UK Pound |
1 |
Rs. 158.00 |
|
Euro |
1 |
Rs. 111.50 |
Comments
Subject Company was established in 2011 and is engaged in import & trading of Bio-Medical
Equipments & Devices, Medical Supplies. 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.63.55 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.