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Report No. : |
339085 |
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Report Date : |
05.09.2015 |
IDENTIFICATION DETAILS
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Name : |
MEDI-VET (PVT) LIMITED |
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|
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Registered Office : |
1-Link Mcleod Road, Lahore |
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Country : |
Pakistan |
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Year of Establishment : |
1985 |
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|
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Com. Reg. No.: |
0013731 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture & Marketing of Veterinary
Medicines |
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|
|
No. of Employees : |
90 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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|
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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 – 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 |
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Business Name |
MEDI-VET (PVT) LIMITED |
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Registered
Address |
|
1-Link Mcleod Road, Lahore, Pakistan |
|
Tel # |
92 (42) 37234815, 37979253 |
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Fax # |
92 (42) 37231152 |
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Email |
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a. |
Nature of Business |
Engaged in manufacture & marketing of
Veterinary Medicines |
|
b. |
Year Established |
1985 |
|
c. |
Registration No. |
0013731 |
16 KM, Sheikhupura Road,
Lahore, Pakistan
|
Aftab Nabi & Co. (Chartered
Accountants) 25-26, Al-Shajar Chowk, Nila Gumbad, Lahore, Pakistan |
|
Subject Company was established as a Private Limited Company in 1985 |
|
Authorized Capital |
Rs. 2,000,000 divided into 20,000 shares of
Rs. 100/- each |
|
Issued & Paid up Capital |
Rs. 2,000,000 divided into 20,000 shares of
Rs. 100/- each |
|
Names |
Designation |
|
Dr. A. Rauf Mr. A.K. Khalid Mr. Saeed Iqbal Mr. Shahnaz Qaisar Rauf Mrs. Razia Khalid Mrs. Mamoona Saeed |
Chief Executive Director Director Director Director Director |
|
Names |
No. of Shares |
|
Dr. A. Rauf Mr. A.K. Khalid Mr. Saeed Iqbal Mr. Shahnaz Qaisar Rauf Mrs. Razia Khalid Mrs. Mamoona
Saeed |
5,200 4,900 4,900 2,000 1,500 1,500 |
A. Subsidiary
None
B. Associated Companies
(1)
Lethron (Private) Limited, Pakistan.
Manufacture & Marketing of Veterinary Medicines for Sheep, Goat, Poultry & Cattle by its brand names of ALBAVET POWDER, ALBAVET SHEEP& GOAT, ALBAVET DRENCH, ALBAVET CATTLE, AQUAQUINE, EMBAPEROS, FLUMEQUINE, FLOXIVET, IRCHASOLE, MEDI AM, MEDI CA, MEDIMISOLE, MEDIORIL, OXAVET
90
|
Year |
In Pak Rupees |
|
2014 |
100,000,000/- (Estimated) |
(1)
BREMER PHARMA, GERMANY.
(2)
PHARMACIA & UPJOHN, BELGIUM.
(3)
LOHMAN, GERMANY.
(4)
ZHEJIANG HUALYI PHARMACEUTICAL CO. LTD, CHINA.
(5)
STARWAY CO. LIMITED, CHINA.
|
Mainly
Feed Millers, Wholesale Traders, Retail Traders, Government Veterinary
Organizations, Live Stocks and Farmers |
(1)
MCB Bank Limited, Pakistan.
(2)
Habib Bank Limited, Pakistan.
(3) Standard Chartered Bank,
Pakistan.
(4) Bank Alfalah
Limited, Pakistan.
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 104.60 |
|
UK Pound |
1 |
Rs. 159.00 |
|
Euro |
1 |
Rs. 117.00 |
Subject Company was established in 1985 and is engaged in manufacture of Veterinary Medicines for sheep, Goat, Poultry & Cattle. All the Directors are reported as qualified, experienced & resourceful 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.66.40 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.