MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

485644

Report Date :

16.01.2018

 

IDENTIFICATION DETAILS

 

Name :

VICTOMED PHARMA (PVT.) LIMITED

 

 

Registered Office :

House No. 6, Ittehad Colony, Gulberg III, Lahore

 

 

Country :

Pakistan

 

 

Date of Incorporation :

27.07.2016

 

 

Com. Reg. No.:

0100902 

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Subject is engaged into carry on the business of manufacturers, producers, importers, exporters, dealers, distributors, agents, wholesale and retail dealers of all kinds of medicines, drugs, pharmaceuticals and especially injectables, veterinary medicines and dentistry medicines for the health care of human beings as well as animals subject to approval from competent authorities.

 

 

No. of Employees :

2

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Yet to commence its business operation

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

--

 

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

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Pakistan

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

PAKISTAN - ECONOMIC OVERVIEW

 

Decades of internal political disputes and low levels of foreign investment have led to slow growth and underdevelopment in Pakistan. Pakistan has a large English-speaking population. Nevertheless, a challenging security environment, electricity shortages, and a burdensome investment climate have deterred investors. Agriculture accounts for one-fifth of output and two-fifths of employment. Textiles and apparel account for most of Pakistan's export earnings; Pakistan's failure to diversify its exports has left the country vulnerable to shifts in world demand. Pakistan’s GDP growth has gradually increased since 2012. Official unemployment was 6.1% in 2016, but this fails to capture the true picture, because much of the economy is informal and underemployment remains high. Human development continues to lag behind most of the region.

 

In 2013, Pakistan embarked on a $6.3 billion IMF Extended Fund Facility, which focused on reducing energy shortages, stabilizing public finances, increasing revenue collection, and improving its balance of payments position. The program concluded in September 2016. Although Pakistan missed several structural reform criteria, it restored macroeconomic stability, improved its credit rating, and boosted growth. The Pakistani rupee, after heavy depreciation in 2013, remained relatively stable against the US dollar in 2016. Low global oil prices in 2016 contributed to a narrowing current account deficit and lower inflation. Remittances from overseas workers continued to be a key revenue source, also mitigating the impact of the lack of foreign investment and a growing trade deficit on the country’s current account.

 

Pakistan must continue to address several longstanding issues, including expanding investment in education and healthcare, adapting to the effects of climate change and natural disasters, improving the country’s business environment, reducing dependence on foreign donors, and widening the country’s tax base. Given demographic challenges, Pakistan’s leadership will be pressed to implement economic reforms, promote further development of the energy sector, and attract foreign investment to support sufficient economic growth necessary to employ its growing and rapidly urbanizing population, much of which is under the age of 25.

 

In an effort to boost development, Pakistan and China are implementing the “China-Pakistan Economic Corridor,” a $46 billion investment program targeted towards the energy sector and other infrastructure projects that Islamabad and Beijing had agreed on in early 2013.

 

Source : CIA

 

Company name and address

 

Business Name

VICTOMED PHARMA (PVT.) LIMITED

 

 

 Full Address           

 

Registered Address

House No. 6, Ittehad Colony, Gulberg III, Lahore, Pakistan

                       

Tel #

+923004632968 (Provided Contact Nos. are Mobile No.)

Fax #

---

 

 

Short Description Of Business

 

a.

Nature of Business       

To carry on the business of manufacturers, producers, importers, exporters, dealers, distributors, agents, wholesale and retail dealers of all kinds of medicines, drugs, pharmaceuticals and especially injectables, veterinary medicines and dentistry medicines for the health care of human beings as well as animals subject to approval from competent authorities

b.

Year Established

27th July, 2016

c.

Registration #

0100902 

 

 

Branches

 

None

           

 

Auditors

           

None

 

 

Legal Status       

           

Subject Company was established as a Private Limited Company in 27th July, 2016

 

 

Authorized Capital    

Rs. 100,000/- divided into 1,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 100,000/- divided into 1,000 shares of Rs. 100/- each

 

 

Details of Management

 

Names

Designation

Mr. Muhammad Imtiaz

 

Mr. Riaz Hussain

Chief Executive

 

Director

 

 

Shareholders

 

Names

No. of Shares

Mr. Muhammad Imtiaz

 

Mr. Riaz Hussain

500

 

500

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                        None                                              

           

           

B.         Associated Companies

 

- Do -

 

 

Business Activities

 

To carry on the business of manufacturers, producers, importers, exporters, dealers, distributors, agents, wholesale and retail dealers of all kinds of medicines, drugs, pharmaceuticals and especially injectables, veterinary medicines and dentistry medicines for the health care of human beings as well as animals subject to approval from competent authorities

 

 

 

Number of Employees

 

            2

 

 

Annual Revenue Income

 

Year

In Pak Rupees

2017

Not ascertain as the subject has not yet started its business activities so far

 

 

Trade Suppliers (Foreign)

 

FOODING GROUP LIMITED, CHINA.

QINGDAO ICD BIOCHEMISTRY CO. LTD, CHINA.

HENGYANG YUHUA IMP&EXP CO. LTD, CHINA.

(4) HUGESTONE ENTERPRISE CO. LTD, CHINA.

 

 

Clientele

 

None

 

 

Bankers

 

(1) The Bank of Punjab, Pakistan.

(2) Summit Bank Limited, Pakistan.

(3) MCB Bank Limited, Pakistan.

 

 

Comments       

 

Subject Company was established on 27th July, 2016 and is engaged in import & trading business. Subject has not yet started its business activities. In view of current disturbed economic and political situation, we would advise to deal with all the business in Pakistan at safe and secured trade terms and conditions.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.41

UK Pound

1

INR 87.17

Euro

1

INR 77.44

PKR

1

INR 0.58

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

DNS

 

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.