MIRA INFORM REPORT
|
Report No. : |
311053 |
|
Report Date : |
11.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIAM PHARMACEUTICALS |
|
|
|
|
Registered Office : |
217, Industrial Triangle, Kahuta Road, Islamabad |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
2010 |
|
|
|
|
Legal Form : |
Proprietorship business |
|
|
|
|
Line of Business : |
Manufacture & Marketing of
Pharmaceutical Products |
|
|
|
|
No. of Employee : |
32 |
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 |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 |
|
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 |
Company
name
|
SIAM PHARMACEUTICALS |
Full
Address
|
Registered Address
|
|
217, Industrial Triangle, Kahuta Road, Islamabad, Pakistan |
|
Tel # |
92 (51) 4492602, 4492603 |
|
Fax # |
92 (51) 4492603 |
Short
Description Of Business
|
a. |
Nature of Business |
Manufacture & Marketing of
Pharmaceutical Products |
|
b. |
Year Established |
2010 |
Branches
|
None |
Legal
Status
|
Subject Company was established as a Proprietorship business in 2010 |
Details
of Management
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Asim Muzzamil |
Pakistani |
217, Industrial Triangle, Kahuta Road, Islamabad |
Business |
Proprietor |
Associated
Companies
|
None |
Business
Activities
Subject Company is engaged in manufacture
& marketing of Pharmaceutical Products.
Local sales are mostly on cash term basis to its local customers.
It’s mainly import from China, India
& Korea.
Its major customers are Distribution Companies, Private Companies
Subject operates from caption leased factory premises situated at
industrial area of Islamabad.
Subject employs about 32 persons in its set up.
Annual
Sales Volume
|
Year |
In Pak Rupees |
|
2014 |
16,000,000/- (Estimated) |
Trade
Suppliers (Foreign)
|
Subject mainly import from Companies belongs to China, India &
Korea |
Bankers
|
(1) Habib Bank
Limited, Pakistan. (2) Faysal Bank
Limited, Pakistan. (3) Soneri Bank
Limited, Pakistan. (4) Silk Bank
Limited, Pakistan. |
Memberships
Rawalpindi Chamber of Commerce & Industry.(RCCI)
Foreign
Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 101.85 |
|
UK Pound |
1 |
Rs. 156.60 |
|
Euro |
1 |
Rs. 114.10 |
Comments
Subject Company was established in 2010 and
is engaged in manufacture & marketing of Pharmaceutical Products. 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.62.70 |
|
|
1 |
Rs.94.55 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.