MIRA INFORM REPORT

 

 

Report Date :           

06.04.2011

 

IDENTIFICATION DETAILS

 

Name :

MOSTAFA PAPER COMPLEX LIMITED

 

 

Registered Office :

M. Rahaman Chamber, 277 Khatungonj, Chittagong– 4000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

15.01.2005

 

 

Com. Reg. No.:

CH-5074

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

manufacturing and selling of papers

 

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

 

Maximum Credit Limit :

US$ 30,000.00

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Bangladesh

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

COMPANY DETAILs

 

Name

Mostafa Paper Complex Limited

Address

Halim Khar Char, Charkanai, Patiya, Chittagong

Country

Bangladesh

Telephone No

880-31-632572, 615815, 615818, 615079

Fax No

880-31-610152

E-Mail

info@mostafagroup.com

Website

www.mostafagroup.com

Established

2005

Company Registration No

CH-5074

Registration date

15th January 2005

Legal Status

Private Limited

Business Type

Manufacturer & Seller

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

M. Rahaman Chamber, 277 Khatungonj, Chittagong– 4000, Bangladesh

Telephone No

880-31-632572, 615815, 615818, 615079

Fax No

880-31-610152

E-Mail

info@mostafagroup.com

Website

www.mostafagroup.com

Branch

House-39, Road-24, Gulshan 1, Dhaka-1212, Bangladesh.
Tel. 880-2-8857221

Fax. 880-2-8857223

Factory

Halim Khar Char, Charkanai, Patiya, Chittagong

Factory Telephone No

N/A

Factory Fax No

N/A

Warehouse

Halim Khar Char, Charkanai, Patiya, Chittagong

 

DIRECTORS

 

Name

Mr. Hefazatur Rahman

Designation

Chairman

Nationality

Bangladeshi

 

 

Name

Mr. Shafique Uddin

Designation

Vice Chairman 

Nationality

Bangladeshi

 

 

Name

Mr. Jahir Uddin

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Kafil Uddin

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Rafique Uddin

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Mostafa Bagum

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Jashim Uddin

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Kamal Uddin

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Mahfuzur Rahman

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Raqibur Rahman

Designation

Director

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturer & Seller

Items Dealing In

Papers

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Local: Cash or Credit

Production Capacity

54,000 m/tons per year

Last Year Production

54,000 m/tons

 

 

BANKERS

 

Name

National Bank Limited 

Branch

Khatunganj Branch

Address

Khatunganj, Chittagong

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2009

2008

 

2007

Investment

Tk.62 million

Tk.60 million

Tk.60 million

Turnover

Tk.2.2 billion

Tk.1.8 billion

Tk.1.2 billion

Liability

NIL

NIL

NIL

Assets

Tk.2.5 billion

Tk.2 billion

Tk.2 billion

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.30 million

Paid Up Capital

Tk.400,000.00

Each Share Value

Tk.100.00

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

116.9923

U.S Dollar

1

72.7700

European Euro

1

102.8095 

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks

No Found

Debt

No Records Found

Litigation

No Records Found

Performance Defaults

No Records Found

Adverse Press Coverage

No Records Found

Money Laundering

No Records Found

 

 

MAXIMUM RECOMMENDED CREDIT

 

Amount

Based On

US$ 30,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

2,500

Office Area (Sq. Ft)

2,000 sq.ft (own)

Factory Area (Sq. Ft)

55,000 sq.ft (own)

Warehouse Area (Sq. Ft)

8,000 sq ft (own)

Range of Products

4 Writing Paper

4 Printing Paper

4 News Print Paper

4 Kraft paper

Major Clients

4 Local Papers Retailers

Certification

NIL

Group Name

4 Mostafa Group

Subsidiaries / Affiliates

4 M. M. Vegetable Oil Industries Ltd

4 Mostafa Vegetable Oil Industries Ltd

4 Mostafa Paper Products Ltd

4 Fairways Corporation Ltd (Oodaleah Tea State)

4 M. M. Ship Breakers Ltd

4 Rahman Ship Breakers Ltd

4 Eastern Fisheries Ltd. (Mostafa Tank Terminal)

4 Mostafa Shrimp Products Ltd

4 Mostafa Organic Shrimp Products Ltd

4 M. M. Salt Industries Ltd

4 Mostafa Steel Galvanizing Plant Ltd

4 M.M. Steel Galvanizing Plant Ltd

4 Mostafa Garments Industries Ltd

4 Euro Shipping Ltd

4 Mostafa Re-rolling Mills Limited

4 Saudia Coach Service(Passenger Transport)

4 Saudia Luxury Coach Service

4 Mostafa Properties Development Ltd

4 Mostafa Shipbuilding & Dockyard Ltd

4 Mostafa Coconut Oil Industries Ltd

4 R.R Coconut Oil Industries Ltd

4 Rahman Rexin Industries Ltd

4 Mostafa Artificial Leather Industries Ltd

4 Mostafa Agro Products Ltd

4 Hefazatur Rahman & Company Ltd

4 Country Resorts & Trading Co. Ltd

4 S.R. Corporation

4 M.M. Corporation

4 Mostafa Corporation Ltd

4 T.J. International Ltd

4 Ibrahim Corporation

4 Monowara Corporation

4 Mohammed & Brothers

4 Mostafa Investment Corporation

Member

4 Chittagong Chamber of Commerce & Industries, Chittagong

 

 

COMMENTS

 

The subject is a family owned private limited company engaged in manufacturing and selling of papers in local market. The Company is engaged in producing export quality Media by using waste paper, board and pulp etc. The Company will now produce Writing, Printing, and News Print & Kraft paper in the near future to meet the demands of the local market. The company is a concern of Mostofa Group, one of the most renowned business houses of 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 his business commitments, it is reported.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.45

UK Pound

1

Rs.71.59

Euro

1

Rs.63.01

 

 

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

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

 

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

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