MIRA INFORM REPORT

 

 

 

Report Date :

05.09.2008

 

IDENTIFICATION DETAILS

 

Name :

POPULAR PHARMACEUTICALS LIMITED

 

 

Registered Office :

164, Tongi Industrial Area, Tongi,  Gazipur-1711, Dhaka,

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

08.12.2002

 

 

Com. Reg. No.:

C-47852

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer & Sellers of Drugs & Medicines

 

 

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 :

No Complaints

 

 

Litigation :

Clear

 

 

 

COMPANY DETAILS

 

Name:                                                  Popular Pharmaceuticals Limited

 

Address:                                   164, Tongi Industrial Area,

Tongi,

Gazipur-1711

                                                Dhaka,

 

Country:                                   Bangladesh      

 

Tel No :                                    880-2-9812971-5

 

Fax No :                                   880-2-9812976

 

E-Mail:                                     popular@citechco.net

                                               

Established:                             December 2002

 

Incorporation No:                     C-47852

 

Incorporation Date:     8th December 2002

 

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

            Incorporated in the Registrar of Joint Stock of 

            Companies, Dhaka.

 

Business Type:             Manufacturer & Sellers

 

 

Status:                                     Satisfactory

 

Payments:                                No complaints have been heard regarding payments 

                                                from local suppliers or banks.

 

Litigation:                                NIL

 

 

LOCATIONS

 

Head Office:                             House. 25,

Road, 2,

Dhanmondi,
Dhaka – 1205,

                                   

Tel No:                                    880-2-9669301-5

           

Fax No:                                   880-2-9675633

 

E-Mail:                                    popular@citechco.net

                                               

Sales Centre:                          1 Chittagong

                                                1 Sylhet

                                                1 Bogra

                                                1 Khulna

                                                1 Rangpur

                                                1 Barishal

                                                1 Comilla

                                                1 Cox’s Bazar

                                                1 Jessore

                                                1 Mymensing

                                                1 Faridpur

 

Factory:                                   164, Tongi Industrial Area,

Tongi,

Gazipur-1711

                                                Dhaka,

 

Warehouse:                             164, Tongi Industrial Area,

Tongi,

Gazipur-1711

                                                Dhaka,

 

 

DIRECTORS & SHAREHOLDERS

 

Name:                                      Dr.Mustafizur Rahman

Designation:                           Chairman & Managing Director

 

Name:                                      Mr.Nazim Ferdous

Designation:                           Director

 

 

BUSINESS DETAILS

 

Line of Business:           Manufacturer & Sellers

 

Items Dealing In:                     Drugs & Medicines

 

Terms of Sale:             1 Cash

                                    1 Credit

 

 

BANKERS

 

Name:                                      Standard Chartered Bank

Branch:                                    Main Branch

 

Address:                                   Dilkusha 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 Invested

Tk.25 million

Tk.25 million

Tk.25 million

Turnover

Tk.150 million

Tk.148.7 million

Tk.147 million

Liability

NIL

NIL

NIL

Fixed Assets

Tk.45 million

Tk.45 million

Tk.45 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk.100 million

Paid Up Capital

:

Tk.500, 000.00

Each Share Value

:

Tk.100.00

 

 

EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

Great Britain Pound

1

137.1626

U.S Dollar

1

  69.4000

European Euro

1

108.8231

Japanese Yen

1

    0.6729

Australian Dollar

1

   65.7102

 

 

 

 

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:        332

Executives-----------------4   

Junior Executives--------10                                                          

Pharmacist----------------4

Chemist-------------------3

Engineers-----------------2

Sales Staffs------------- 10       

                                                Quality Control---------- -8    

                                                Supervisory Staffs-------15   

                                                Support Staffs-------------4      

                                                General Staffs------------10    

                                                Technicians----------------4  

                                                Workers-----------------258 

 

Range of Products:                  1 Tablets

                                                1 Capsules

                                                1 Suspensions

                                                1 Injections

                                                1 Eye Drops

                                                1 Creams

                                                1 Ointments

                                                1 Animal Drugs

 

Office Area:                             1,250 sq.ft (own)

 

Factory Area:                           18,000 sq.ft (own)

 

Warehouse Area:                     3,900  sq.ft.(own)

                                                                                                                                               

Major Clients:                          1 Central Medical Store Depot, Bangladesh Government

                                                1 Bangladesh Army

                                                1 Bangladesh Rifles

                                                1 Police Hospital

                                                1 BIRDEM

                                                1 Chittagong Medical College & Hospital

                                                1 M.A.G. Osmani Medical College & Hospital Sylhet

                                                1 HCDP (Health care Development project)

                                                1 Apollo Hospitals

                                                1 United Hospital

                                                1 Square Hospitals Ltd

                                                1 Labaid Cardiac Hospital

                                                1 Lab Aid Specialized Hospital

                                                                                               

Raw Materials From:               1  EEC Countries

                                                1  China

                                                1  Korea

                                                1  Singapore

1  Pakistan

1  India

1  Australia

1  Taiwan

 

Name of the Group:                 NIL

 

Subsidiaries:                            1 Popular Diagnostic Centre

                                                1 Popular Infusions Limited

                                                                                                           

Member:                                  1 Bangladesh Association of Pharmaceuticals,

                                                    Dhaka

                                                1 Dhaka Chamber of Commerce & Industries, Dhaka

 

 

COMMENTS

 

The subject is a private limited company who is engaged in manufacturing and selling of drugs and medicines. The company’s factory is most modern and the quality of their products is of international standard. Their products are popular and sold all over the country.

 

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.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.26

UK Pound

1

Rs.79.19

Euro

1

Rs.64.42

 

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