MIRA
INFORM REPORT
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Report Date : |
8th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SAMANNAZ CONDENSED MILK LIMITED |
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Registered Office : |
Finlay House (3rd
Floor), Agrabad Commercial Area, Chittagong Bangladesh. |
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Country : |
Bangladesh |
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Date of Incorporation : |
04.12.2000 |
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Com. Reg. No.: |
CH-3832 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Engaged
in manufacturing and selling of condensed milk. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company Name
SAMANNAZ CONDENSED MILK LIMITED
Address
Finlay House (3rd Floor),
Agrabad Commercial Area,
Chittagong
Bangladesh.
Telephones :
880-31-815012-14
Fax :
880-31-815015
E-mail : samnaz@globalctg.net
SUMMARY
Established :
December,2000
Incorporation No. :
CH-3832
Incorporation Dated :
4th December,2000
Status :
Satisfactory
Managing Director & CEO :
Mr.Shahabuddin
Payment :
Regular
Litigation :
Nil
Capital Invested :
Tk.36 million
Sales :
Tk. 480 million
Employees : 342
Executives- 4
Junior Executives-
5
Chemist- 3
Engineers- 3
Sales Staffs-
20
Supervisory Staffs-
25
Support Staffs-
10
General Staff-
12
Technicians--
9
Workers-
251
BANK
IFIC Bank Limited
Agrabad Commercial Area,
Chittagong
Islami Bank Bangladesh Limited
Agrabad Branch,
Chittagong
FACTORY
Bhatiary,
Sitakunda,
Chittagong.
BRANCH
51/2,H.S.Building,
New Eskaton Road,
Dhaka
SHAREHOLDER & DIRECTORS
Mr.Shahabuddin
-Chairman & Managing Director
Mrs.Yeasmin Alam
Mr.Manjur Alam
HISTORY
The subject was established by Mr.Shahabuddin and other
directors in Chittagong city
BUSINESS
The company is engaged in manufacturing and selling of
condensed milk
RANGE OF PRODUCTS
Condensed Milk
PRODUCTION POSITION
Yearly Production Capacity :
2,550 m/tons
Last year Production :
20,000 m/tons
MAIN FOREIGN SUPPLIERS
Alpha Milk Powder----Holland
PHP Iparex------------Poland
FU-Horn Holt---------Denmark
Detraco---------------Holland
Nippon Steel & Cowasaki-Japan
TERMS OF SALES
Cash
Credit
NAME OF GROUP
S.A.Group
SISTER CONCERN
Shah Amanat Edible Oil Co. Ltd—Chittagong
KSA Oil Refinery & Vegetable Products Limited,
S.A. Coconut Oil Co. Limited,
MEMBER
Chittagong Chamber of Commerce & Industries, Chittagong
LEGAL FORM
The subject is a private limited Company incorporated with
the Registrar of Joint Stock Companies, Chittagong
FINANCIAL INFORMATION
2005 2004
2003
Capital Invested Tk.36 million Tk. 35.8 million Tk.35.5
million
Turnover Tk.480
million Tk.479.2 million Tk.479.5
million
Liability Tk.10.8
million Tk.10.2 million Tk.11.8
million
Fixed Assets Tk.75
million Tk.75 million Tk.74
million
CAPITAL STRUCTURE
Authorized Capital :Tk.150
million
Paid up Capital :
Tk.1 million
Each share value :
Tk.100.00 each
EXCHANGE RATE
GB Pound 1.00=Tk.129.1870
US Dollar 1.00=Tk.
68.6654
Europe Euro 1.00=Tk. 87.0154
Japanese Yen 1.00=Tk. 0.5831
Australian Dollar 1.00=Tk. 52.3228
COMMENTS
Subject is a family owned private limited company engaged in
manufacturing and selling of condensed milk. The company’s products are of
international standard and they are quite popular in the local market.
Directors are experienced and knows their job well. They are
socially well connected and financially solvent and good at their business
commitments, as reported.
The company can be considered normal for business dealings
at usual trade terms and conditions.
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/normal. |
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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