|
Report No. : |
349820 |
|
Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUNSHINE
PHARMACEUTICALS |
|
|
|
|
Registered Office : |
Emanabad, G.T. Road, Gujranwala |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Year of Establishment : |
2005 |
|
|
|
|
Legal Form : |
Proprietor |
|
|
|
|
Line of Business : |
Import & Marketing of Veterinary
Medicines & Pharmaceutical Products, Pharmaceutical Raw Materials. |
|
|
|
|
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 : |
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 |
|
Business Name |
SUNSHINE PHARMACEUTICALS |
|
Registered
Address |
|
Emanabad, G.T. Road, Gujranwala, Pakistan |
|
Tel # |
92 (55) 3262694, 3262695 |
|
Fax # |
92 (55) 3261233 |
|
Email |
|
a. |
Nature of Business |
Engaged in import & marketing of
Veterinary Medicines & Pharmaceutical Products, Pharmaceutical Raw
Materials |
|
b. |
Year Established |
2005 |
|
None |
|
Subject Company was established as a Proprietor business in 2005 |
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Chaudhary Muhammad Tahir |
Pakistani |
Emanabad, G.T.
Road, Gujranwala |
Business |
CEO / Proprietor |
A. Subsidiary
None
B. Associated Companies
- Do -
(1) Subject
Company is engaged in import & marketing of Veterinary Medicines &
Pharmaceutical Products, Pharmaceutical Raw Materials.
(2) It purchases
raw materials / finished products through D/A, D/P basis to its trade suppliers
globally
(3) It sells against cash /
credit term basis to its domestic customers.
(4) Its importing countries are
China & Korea.
(5) Its major
customers are Feed Millers, Wholesale
& Retail Traders, Live Stocks and Farmers.
(6) Subject operates
from rented office premises situated at commercial area of Gujranwala, Punjab.
(7) Subject employs about 5 persons in its set up.
|
Year |
In Pak Rupees
|
|
2014 |
9,000,000/- (Estimated) |
(1)
Habib Bank Limited, Pakistan.
(2)
The Bank of Punjab, Pakistan.
(3)
Askari Bank Limited,
Pakistan.
(4)
Bank Alfalah Limited,
Pakistan.
|
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 2005 and is engaged in
import & marketing of Veterinary Medicines & Pharmaceutical Products, Pharmaceutical
Raw Materials. 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.66.11 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.78 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.