MIRA INFORM REPORT

 

 

Report Date :

04.07.2012

 

IDENTIFICATION DETAILS

 

Name :

GLOBAL AD STAR BAG INDUSTRIES LIMITED

 

 

Registered Office :

Fresh Villa, House No.15, Road No.34, Gulshan-1, Dhaka-1212

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

13.03.2009

 

 

Com. Reg. No.:

C-77971

 

 

Legal Form :

Public Limited

 

 

Line of Business :

Manufacturer & Seller of WPP Bags & Ply Cement Bags

 

 

No. of Employees :

350

 

 

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

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

Global Ad Star Bag Industries Limited

Address

Fresh Villa, House No.15, Road No.34, Gulshan-1, Dhaka-1212

Country

Bangladesh

Telephone No

880-2-9887545,9889490,9884791,9889306

Fax No

880-2-9884856

E-Mail

info@meghnagroup.biz

rasiqul.islam@meghnagroup.biz

Website

www.meghnagroup.biz

Established

2009

Company Registration No

C-77971

Registration date

13th March 2009

Legal Status

Public Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Dhaka

Business Type

Manufacturer & Seller  

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Fresh Villa, House No.15, Road No.34, Gulshan-1, Dhaka-1212

Telephone No

880-2-9887545,9889490,9884791,9889306

Fax No

880-2-9884856

E-Mail

info@meghnagroup.biz

Website

www.meghnagroup.biz

Branch 

Sylhet Branch

36/1 Peara Darshon, Dewri Road, Sylhet

Mobile: 880-821-714463

 

Moulvi Bazar Branch

77/2 Moulvi Bazar (2nd Floor), Dhaka-1100,

Phone: 880-2-7312188, 7316661

 

Chittagong Branch

276 Chowdhury Market, Khatungonj, Chittagong,

Phone: 880-31-623208, 638881

 

Nur Mian Master ByLane, Majeerghat, Chittagong

Factory

Meghna Ghat, Sonargaon Narayangonj, Dhaka-1212

Factory Tel No

N/A

Factory Fax No

N/A

Warehouse

Meghna Ghat, Sonargaon Narayangonj, Dhaka-1212

 

 

DIRECTORS

 

Name

Mr. Mostafa Kamal

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mrs. Beauty Akhter

Designation

Director

Nationality

Bangladeshi

 

 

Name

Miss. Tahmina Binthe Mostafa

Designation

Director

Nationality

Bangladeshi

 

 

Name

Miss. Tanjima Binthe Mostafa

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Tanvir Ahmed Mostafa

Designation

Director

Nationality

Bangladeshi

 

 

Name

Miss. Tasnim Binthe Mostafa

Designation

Director

Nationality

Bangladeshi

 

 

 

SHAREHOLDERS

 

Name

Mr. Mostafa Kamal

Share Percent

10%

Nationality

Bangladeshi

 

 

Name

Mrs. Beauty Akhter

Share Percent

10%

Nationality

Bangladeshi

 

 

Name

Miss. Tahmina Binthe Mostafa

Share Percent

20%

Nationality

Bangladeshi

 

 

Name

Miss. Tanjima Binthe Mostafa

Share Percent

20%

Nationality

Bangladeshi

 

 

Name

Mr. Tanvir Ahmed Mostafa

Share Percent

20%

Nationality

Bangladeshi

 

 

Name

Miss. Tasnim Binthe Mostafa

Share Percent

20%

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturer & Seller

Items Dealing In

WPP Bags & Ply Cement Bags

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Local: Cash or Credit

 

BANKERS

 

Name

Prime Bank Ltd

Branch

Gulshan Branch

Address

Gulshan, Dhaka

SWIFT

N/A

 

 

Name

Eastern Bank Ltd

Branch

Gulshan Branch

Address

Gulshan, Dhaka

SWIFT

N/A

 

 

Name

Janata Bank

Branch

Dhaka Branch

 

 

auditor

 

Name

Raman and Raman

 

 

FINANCIAL INFORMATION

 

Year

2011

2010

 

2009

Investment

Tk.30 million

Tk.30 million

N/A

Turnover

Tk.310.6 million

Tk.310 million

N/A

Liability

Tk.7.6 million

Tk.8 million

N/A

Assets

Tk.42 million

Tk.42 million

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.20 million

Paid Up Capital

Tk.250,000.00

Each Share Value

Tk.100

 

Information parted by

(General Details)

 

Name

Mr. Rasiqul Islam

Designation

DGM – Marketing

Contact

880-2-988-7545

Date

04.07.2012

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

127.3602

U.S Dollar

1

81.8300

European Euro

1

102.0256

 

 

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

 

 

GENERAL INFORMATION

 

Employees

350

Office Area (Sq. Ft)

2,800 sq.ft (owned) Approximately

Factory Area (Sq. Ft)

45,000 sq.ft (rented)

Warehouse Area (Sq. Ft)

6,500  sq.ft.(rented)

Range of Products

4 P.P/P.E Woven (WPP) bags/sack

4 Jumbo Bag/Flexible Intermediate Bulk Container (I.B.C)

4 Reinforced Lamination Bag. (R.L.B)

4 All sizes of Polyethylene Bags or Liner

4 U.V Stable and corona treatments are available as required

Export

India, Dubai

Import

Machinery – Germany

Raw Material – Thailand, Korea, Saudi Arabia

Customer

Wholesaler, Retailers

Machineries From     

4 Wind Mollar & Holscher , Germany

Certifications

NIL

Group Name

4 Meghna Group of Industries

Subsidiaries / Affiliates

4 Kamal Trading Co. Ltd.

4 Bagdad Vegetable Oil Industries Ltd.

4 Meghna Dairy & Food Products Ltd.

4 Mercantile Shipping Lines Ltd.

4 Meghna Flour & Dal Mills Ltd.

4 Meghna Tea Company

4 Meghna Coconut & Mustard Oil Mills Ltd.

4 M.M. Printing & Packging Company Ltd.

4 G.Shipping Lines Ltd.

4 United Fibre Industries Ltd.

4 United Feeds Ltd.

4 United Edible Oils Ltd.

4 United Mineral Water & Pet Industries Ltd.

4 Unique Cement Industries Ltd.

4 Unique Power Plant Ltd.

4 United Sugar Mills Ltd.

4 Tanveer Oil's Ltd.

4 Tanveer Food Ltd.

4 Tanveer Polymer Industries Ltd.

4 Sonargaon Salt Industries Ltd.

4 Tanveer Steel Mills Ltd.

4 Tanveer Paper Mills Ltd.

4 Janata Flour & Dal Mills Ltd.

4 Meghna Properties Ltd.

4 Everest CNG Refueling & Conversion Ltd.

4 Everest Power Generation Co. Ltd.

4 Meghna Shipbuilders & Dockyard Ltd.

4 Dhaka Plastic Bottle (PET) Ind. Ltd.

4 Tasnim Condensed Milk Ltd

4 Tasnim Chemical Complex Ltd.

4 Fresh Cement Industries Ltd.

4 Meghna Seeds Crushing Mills Ltd.

4 Dhaka Securities Ltd.

4 Bangladesh National Insurance Co. Ltd.

Member

4 Dhaka Chamber of Commerce & Industries, Dhaka  

 

BUSINESS TREND & PROSPECT

 

Business Scale           

Large

Business Trend

Growing

Management Capability

Good

Reputation

Good

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.81

UK Pound

1

Rs.86.04

Euro

1

Rs.69.06

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.