MIRA
INFORM REPORT
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Report Date : |
07.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
Tanveer Paper Mills Limited |
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Registered Office : |
House No. 15, Road No. 34, Gulshan - 1, Dhaka
- 1212 |
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Country : |
Bangladesh |
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Date of Incorporation : |
16th February, 2004 |
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Com. Reg. No.: |
C-51849 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in manufacturing and selling of hardboard |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
New Company - Yet to Commence Operations |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Report on
Tanveer Paper Mills Limited
Address
House No.15,
Road No.34,
Gulshan-1,
Dhaka-1212,
Bangladesh
Telephones : 880-2-9887545, 98889490,
Fax : 880-2-9889306,
E-mail :
info@meghnagroup.biz
SUMMARY
Established :
February, 2004
Commercial
Production From : April,
2008
Incorporation
No. :
C-51849
Incorporation
Dated : 16th
February, 2004
Managing
Director & CEO :
Mr. Mostafa Kamal
Employees
22
Executives- 3
Junior
Executive- 4
Engineers- 3
General
Staffs- 12
BANK
Eastern Bank Limited
Main
Branch,
Motijheel
Commercial Area,
Dhaka
Southeast Bank Limited
New Eskaton Branch,
Dhaka
Bank Asia Limited
Main Branch,
Motijheel Commercial Area,
Dhaka,
BRANCH
NIL
FACTORY
Meghnaghat,
Sonargaon Road,
District : Narayanganj
OFFICE AREA
3,000
sq. ft. (rented)
FACTORY AREA
3
acres of lands (own)
WAREHOUSE AREA
10,100
sq. ft (own)
DIRECTORS & SHAREHOLDERS
Mr.
Mostafa Kamal -Chairman & Managing Director
Mr. M. Zakaria
Mr. M. A. Hakim
Mrs. Ambia Khatun
Mr. M. A.Taher
HISTORY
Subject was established in Februar, 2004 by Mr.
Mostafa Kamal and the other directors in Dhaka city its factory at Meghnaghat,
Sonargaon district : Narayanganj.
BUSINESS
The company is engaged in manufacturing and selling of hardboard
PROPOSED RANGE OF PRODUCTS
Hard Board
PRODUCTION POSITION
Yearly
Production Capacity—New Company
Last
Year Production--------New Company
MACHINER IMPORT FROM
China
Malaysia
India
NAME OF GROUP
Meghna
Group
GROUP COMPANIES
Meghna Dairy and Food Products Ltd.
Meghna Vegetable Oil Industries Ltd.
Tanveer Dal Mill & Flour Mills Ltd.
Meghna Tea Company Ltd.
Tanveer Mustard Oil Mill And Coconut Oil Mills Ltd.
M. M. Printing & Packaging Industries Ltd.
Mercantile Shipping Lines Ltd.
United Sugar Mills Ltd.
United Edible Oils Ltd
United Fibre Industries Ltd.
United Feeds Ltd.
United Mineral Water & PET Industries Ltd.
United Salt Industries Ltd.
United Shipping Lines
Unique Cement Industries Ltd.
Unique Power Plant Ltd. (Unit 1 & Unit 2)
Unique Hatchery & Feeds Ltd.
Tanveer Oils Ltd.
Tanveer Polymer Industries Ltd.
Tanveer Food Ltd.
Tanveer Still Mills Ltd.
Bangladesh National Insurance Co. Ltd.
Kamal Imports & Exports Ltd.
MEMBER
Dhaka Chamber of Commerce & Industries, Dhaka.
LEGAL FORM
Subject is a private limited company
incorporated with the Registrar of Joint Stock of Companies Dhaka.
FINANCIAL INFORMATION
2007
Capital
Invested Tk.60 million
Turnover
New Company
Liability Tk.20 million
Fixed
Assets Tk.100 million
CAPITAL STRUCTURE
Authorized
Capital Tk.100
million
Paid
up Capital Tk.500,
000.00
Each
share value Tk.100.00
each
EXCHANGE RATE
GB
Pound 1.00=Tk.140.1706
US
Dollar 1.00=Tk. 69.4850
Europe
Euro 1.00=Tk. 94.9041
Japanese
Yen 1.00=Tk. 0.5712
Australian
Dollar 1.00=Tk.
59.7270
COMMENTS
Subject is a private limited company who is engaged in manufacturing and selling of hard boards. Subject has not yet gone into production. They are now setting up their factory and expect to go to production yearly next year. The company’s factory is well equipped and is of International standard.
Subject is a concern of Meghna Group, a renowned
business conglomerate of the country, who has their interest from oil to
poultry feeds.
Directors are well conversant in their line of
trade and they are also experienced businessman. They are financially solvent
and good at their business commitments, it is reported.
The company is good for normal business
engagements.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)