|
Report No. : |
348496 |
|
Report Date : |
14.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
HILTON PHARMA
(PRIVATE) LIMITED |
|
|
|
|
Registered Office : |
9th Floor, Progressive Plaza, Beaumont Road, Civil Lines Quarters, Near
Dawood Centre, Karachi |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Date of Incorporation : |
1989 |
|
|
|
|
Com. Reg. No.: |
0020789 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture & Marketing of Pharmaceutical
Products |
|
|
|
|
No. of Employee : |
370 |
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 – 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 exports has 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 the mid-2000s, 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 sectors 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 |
HILTON PHARMA
(PRIVATE) LIMITED
|
Registered
Address |
|
9th Floor,
Progressive Plaza, Beaumont Road, Civil Lines Quarters, Near Dawood Centre,
Karachi, Pakistan |
|
Tel # |
92 (21)
111-123-000, 35656500, 35656531 |
|
Fax # |
92 (21)
111-124-000 |
|
a. |
Nature of
Business |
Manufacture
& Marketing of Pharmaceutical Products |
|
b. |
Year Established |
1989 |
|
c. |
Registration No. |
0020789 |
Plot # 13, Sector
15, Korangi
Industrial Area,
Karachi,
Pakistan
|
M/s Mansoor
Seraj Saleem & Co. (Chartered Accountants) B-1, Bycula Mansion, Shahrah-e-Liaquat,
Karachi, Pakistan |
|
Subject Company was incorporated as a
Private Limited Company in 1989 |
|
6. |
Authorized Capital |
Rs. 950,000,000/- divided into 95,000,000 shares of Rs. 10/- each |
|
|
Issued & Paid
up Capital |
Rs. 800,000,000/- divided into 80,000,000 shares of Rs. 10/- each |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Shahbaz
Yasin Malik Mr. Shahid
Yasin Malik |
Pakistani Pakistani |
35,
Khayaban-e-Jabal, Phase V, Defence Housing Authority, Karachi 35,
Khayaban-e-Jabal, Phase V, Defence Housing Authority, Karachi |
Business Business |
Chief Executive Director |
|
Names |
No. of Shares |
|
Mr. Shahbaz
Yasin Malik Mr. Shahid
Yasin Malik |
40,000,000 40,000,000 |
(1) N. Y.
International (Private) Limited, Pakistan.
(2) Progressive Associates
(Private) Limted, Pakistan.
(3) Progressive
Medicals (Private) Limited, Pakistan.
(4) Progressive
Systems (Private) Limited, Pakistan.
ALP, ANAPAZ, ARTEM,
BETAGE, BLOPRESS, CARLOV, CEFIM, CELART, CEROPHENE, CITANEW, CRAVIT, ENFLOR,
ESORID, FEROSOFT, FEROSOFT FA, FEROSOFT-S, FERTINORM, FEXO, FEXO-D, FLOXIN,
FLUX, GEVOLOX, GEVOLOX-PLUS, GONAL F, HEPADIAL, HICLOR, HIFLOX, HITOP,
LAEVOLAC, LEFORA, LEOZIN, LOXONIN, MAXIT, MAXIT-S, MEGADOX, METHYCOBAL, MIOMAX,
MYONAL, MYTEKA, NEOGAB, OFLOBID, PILFOOD, PIOZER, PRALIP, PROFASI, QUSEL,
RONEX, STIMOL, TIAZEM, TRANSAMIN, VALODIN, XOBIX, ZOPENT
370
The capacity and
production of the company’s plant is indeterminable as it is multi-product and
involves varying processes of manufacture.
|
Year |
In Pak Rupees |
|
2014 |
4,500,000,000/- (Estimated) |
ALPHARMA AS., NORWAY
LABORATORIES BIOCODEX, FRANCE.
DAIICHI PHARMACEUTICAL & CO LTD, JAPAN.
EISAI CO LTD, JAPAN.
FRESENIUS KABI AUSTRIA GMBH, AUSTRIA.
CHINA KUNMING PHARMACEUTICAL CORP, CHINA.
MEIJI SEIKA KAISHA LTD, JAPAN.
PROBIOTICS INTERNATIONAL LIMITED., U.K.
SANKYO CO., LTD., JAPAN.
(10) ARES SERONO INTERNATIONAL S.A., SWITZERLAND.
(11) TAKEDA CHEMICALS INDUSTRIES LTD., JAPAN.
(12) YAMANOUCHI PHARMACEUTICAL CO LTD., JAPAN.
Mainly exist at
major cities of Pakistan
Mainly to South East Asia, Africa, Asia
Pacific & Central Asian Republic Countries
Habib Metropolitan
Bank Limited, Pakistan.
Bank Alfalah
Limited, Pakistan.
Faysal Bank
Limited, Pakistan.
Soneri Bank
Limited, Pakistan.
(5) Bank Alhabib
Limited, Pakistan.
(Total mortgage obtained PKR: 398,000,000/-)
Karachi Chamber of Commerce &
Industry.(KCCI)
Pakistan Pharmaceutical Manufacturers
Association.(PPMA)
|
Currency |
Unit |
Pakistani
Rupee |
|
US Dollar |
1 |
Rs. 105.55 |
|
UK Pound |
1 |
Rs. 162.00 |
|
Euro |
1 |
Rs. 114.50 |
Subject Company was established in 1989 and
is engaged in manufacture & marketing of Pharmaceutical Products. Directors
are reported as resourceful, qualified and experienced businessmen. Trade
relations are reported as fair. Company
can be considered for normal business dealings at usual trade terms and
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
SDA |
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.