MIRA INFORM REPORT

 

 

Report Date :

18.02.2008

 

IDENTIFICATION DETAILS

 

Name :

GLOBE SOFT DRINKS LIMITED

 

 

Registered Office :

Maijdee Road, Darbeshpur, Begumganj, District: Noakhali

 

 

Country :

Bangladesh

 

 

Financials (as on) :

2007

 

 

Date of Incorporation :

August, 2000

 

 

Com. Reg. No.:

CH-3742

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer and Sellers of Soft Drinks

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

COMPANY DETAILS

 

Name:                                                   Globe Soft Drinks Limited

 

Address:                                   Maijdee Road,

                                                Darbeshpur,

                                                Begumganj,

District: Noakhali,

 

Country:                                    Bangladesh      

 

Telephone:                                880-2-8110460, 8128018, 9140848,

 

Established:                              August, 2000

 

Incorporation No:                        CH-3742

 

Incorporation Date:                     29th August, 2000

 

Legal Structure:                         The subject is a Private Limited Company that was 

            Incorporated in the Registrar of Joint Stock of 

            Companies, Dhaka.

 

Business Type:                          Manufactures & Seller

 

Status:                                      Satisfactory

 

Payments:                                No complaints have been heard regarding payments 

                                                from local suppliers or banks.

 

Litigation:                                  NIL

 

 

LOCATIONS

 

Head Office:                              House No.251/L,

                                                Road No.13/A,

                                                Dhanmondi,

                                                Dhaka-1205,

           

Branch:                                    NIL

 

Factory:                                    Maijdee Road,

                                                Darbeshpur,

                                                Begumganj,

District: Noakhali,

                                                Tel.880-321-51121

 

Warehouse:                               Maijdee Road,

                                                Darbeshpur,

                                                Begumganj,

District: Noakhali,

 

 

DIRECTORS & SHAREHOLDERS

 

Name:                                       Mr.Harunur Rashid

Designation:                             Chairman & Managing Director

 

Name:                                       Mr.M.Ahmed Hossain

Designation:                             Director

 

Name :                                      Mr.M.Mamunur Rashid

Designation :                             Director

 

Name :                                      Mrs.Sajeda Begum

Designation :                             Director

 

Name :                                      Mr.S.U.Alamgir

Designation :                             Director

 

 

BUSINESS DETAILS

 

Line of Business:                       Manufacturer & Sellers

 

Items Dealing In:                        Soft Drinks

 

 

Name Of Brands:                       1 Euro Cola (Cola Favored Drink)

                                                1 Fizz-Up (Lime Favored Drink)

                                                1 Lychena (Lichee Favored Drink)

                                                1 Euroleemon (Leemon Lime Favored Drink)

 

Production Capacity:                  30.8 million bottles per day

 

Terms of Sale:                           1 Cash

                                                1 Credit

 

BANKERS

 

Name:                                       United Commercial Bank Limited

Branch:                                     Principal Office Branch

 

Address:                                   Motijheel Commercial Area,

Dhaka

 

Name :                                      Uttra Bank Limited

Branch :                                    Dhanmondi Branch,

 

Address :                                  Dhanmondi Residential Area,

                                                Dhaka

 

Name :                                      United Commercial Bank Limited

Branch :                                    Agrabad Branch,

 

Address :                                  Agrabad Commercial Area,

                                                Dhaka

                                                                                      

The company performs most of the business transactions with the above mentioned bank. No more details were provided.

 

 

FINANCIAL INFORMATION

 

 

 

2007

 

2006

 

2005

 

Capital Investment

Tk.42 million

Tk.42 million

Tk.42 million

Turnover

Tk.158 million

Tk.156.2 million

Tk.154.5 million

Liability

Tk.6 million

Tk.7.5 million

Tk.8.2 million

Fixed Assets

Tk.60 million

Tk.60 million

Tk.60 million

 

 

                                               CAPITAL STRUCTURE

 

Authorized Capital

:

Tk.100 million

Paid Up Capital

:

Tk.1 million

Each Share Value

:

Tk.100.00

 

 

EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

Great Britain Pound

1

143.7238

U.S Dollar

1

 69.4023

European Euro

1

101.3730

Japanese Yen

1

   0.6176

Australian Dollar

1

 63.2055

 

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:         133

 

Executives-------------------3   

Junior Executives--------- 4          

Engineers--------------------3

Field Staffs-----------------20        

                                                Quality Control------------- 6    

                                                Supervisory Staffs---------9   

                                                 Support Staffs----------- - -3      

                                                General Staffs--------------8    

                                                Technicians---------------- 3   

                                                Workers--------------------74 

 

Office Area:                               1,600 sq.ft (rented)

 

Factory Area:                            20,500 sq.ft (rented)

 

Warehouse Area:                       5,500  sq.ft.(rented)

 

Range of Products:                    1 Soft Drinks

 

Flavor & Concentrates

 Imported From:                         1  China

                                                1  Singapore

                                                1  Malaysia

                                               

 

Name of the Group:                    Globe Group

 

Subsidiaries:                             1  AST Beverage Limited,

1      Globe Fisheries Limited,

1      Globe Biscuits & Dairy Milk Limited,

1      Globe Pharmaceuticals Limited,

                                               

 

Member                                    1 Noakhali Chamber of Commerce & Industries, Noakhali

                                               

 

COMMENTS

 

The subject is a private limited company who is engaged in manufacturing and selling of various types of soft drinks. It is one of the biggest beverage manufacturers of the country and has quite a wide range of flavored drink. They are products are pretty popular and has a good demand in the local market. They are marketing good use of the modern media and advertisement of thereof their products can always be seen in the T.V. Channel.

 

The 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

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. 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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

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