MIRA INFORM REPORT

 

 

Report Date :

08.06.2011

 

IDENTIFICATION DETAILS

 

Name :

BANGA FLAVOUR & FRAGRANCE (PVT.) LIMITED

 

 

Registered Office :

3 Bundle Road, Patherghata, Chittagong-4000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

18.04.1998

 

 

Com. Reg. No.:

CH-5958

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Importer & Distributor of Food Additives & Food Chemicals

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

US$ 18,000.00

 

 

Status :

Moderate

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

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

Banga Flavour & Fragrance (Pvt.) Limited

Address

3 Bundle Road, Patherghata, Chittagong-4000

Country

Bangladesh

Telephone No

880-31-633773, 614719

Fax No

880-31-610525

E-Mail

response@portlandtrading.com

Website

www.portlandtrading.com

Established

1998

Company Registration No

CH-5958

Registration date

18th April 1998

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Chittagong

Business Type

Importer & Distributor   

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

3 Bundle Road, Patherghata, Chittagong-4000

Telephone No

880-31-633773, 614719

Fax No

880-31-610525

E-Mail

response@portlandtrading.com

Website

www.portlandtrading.com

Branch

21 Armanian Street, Babubazar, Dhaka

Factory

N/A

Factory Telephone No

N/A

Factory Fax No

N/A

Warehouse

3 Bundle Road, Patherghata, Chittagong-4000

 

DIRECTORS

 

Name

Mr. Mohammad Habirur Rahman  

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Mohammad Abdul Kader Amin

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Mr. Mohammad Habirur Rahman  

Share Percent

60%

Nationality

Bangladeshi

 

 

Name

Mr. Mohammad Abdul Kader Amin

Share Percent

40%

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Importer & Distributor 

Items Dealing In

Food Additives & Food Chemicals

Terms of Purchase

Import: Against L/C

Terms of Sale

Local: Cash or Credit

 

 

BANKERS

 

Name

EXIM Bank Limited

Branch

Khatunganj Branch

Address

Khatunganj, Chittagong 

SWIFT

N/A

 

FINANCIAL INFORMATION

 

Year

2009

2008

 

2007

Investment

Tk.14 million

Tk.14 million

Tk.12 million

Turnover

Tk.116.4 million

Tk.116 million

Tk.115 million

Liability

NIL

NIL

NIL

Assets

Tk.20 million

Tk.20 million

Tk.18 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.20 million

Paid Up Capital

Tk.200,000.00

Each Share Value

Tk.100.00

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

120.7964

U.S Dollar

1

73.8500

European Euro

1

107.6290

 

 

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$ 18,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

50

Office Area (Sq. Ft)

1,200 sq.ft (rented)

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

3,500 sq.ft. (rented)

Range of Products

4 Food Colour

4 Food Flavour

4 Aroma Chemical

4 Organic Chemical

4 Inorganic Chemical

Pharmaceutical Raw Materials

Major Clients  

4 Food Industries

4 Beverage Industries

4 Confectionery Industries

4 Dairy Farms

4 Pharmaceutical Industries

Major Foreign Principals

4 Univa Aromatics Pte Ltd (Singapore)

4 Prime Aromatics Pte Ltd (Singapore)

4 Seo Fragrance And Flavours Pte Ltd (Singapore)

4 Narmada Colours Pvt. Ltd. (India)

4 Ca Flavour Sdn Bhd (Malaysia)

4 Pinwheel Sdn Bhd (Malaysia)

4 Ballantyne Foods Pty Ltd (Australia)

4 Iberchem Far East Pte Ltd (Spain)

4 Cv Aroma Ltd (Indonesia)

4 RT Chemtronics GMBH (Germany)

4 Vicentin (Argentina)

4 Jiaxing Sunlong Industrial & Trading Co. Ltd (China)

4 Eteris Enterprise Pte Ltd (Singapore)

4 Millenia Trade Representacoes Ltda (Brazil)

Certification

NIL

Group Name

NIL

Subsidiaries / Affiliates

4 Portland Trading House

Member

4 Chittagong Chamber of Commerce & Industries, Chittagong

 

COMMENTS

 

The subject is private limited company engaged in importing & distributing of Food Colour and Flavour, Aroma Chemical, Organic and Inorganic Chemical, Pharmaceutical Raw Materials in local market.

 

The directors are all experienced businessmen. They are financially solvent and good at their business commitment, it is reported.


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.74

UK Pound

1

Rs.73.25

Euro

1

Rs.65.48

 

 

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

--

NB

                                       New Business

 

--

 

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.