MIRA INFORM REPORT

 

 

Report Date :           

21.03.2012

 

 

 

Tel. No.:

+00880 31 623680

 

Note:

The above given address is subject old address.

 

IDENTIFICATION DETAILS

 

Name :

MARRINE VEGETABLE OILS LIMITED 

 

 

Registered Office :

1628/1671, Ramjoy Mohajan Lane, Asadgonj, Chittagong

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

08.11.2004

 

 

Com. Reg. No.:

CH-5274

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer & Seller of Edible Oil  

 

 

No. of Employees :

1,100

 

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$ 27,000.00

 

 

Status :

Good

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

Marrine Vegetable Oils Limited

Address

1628/1671, Ramjoy Mohajan Lane, Asadgonj, Chittagong

Note: The subject operates from this address.

Country

Bangladesh

Telephone No

880-31-2852063, 632070, 623541

Fax No

880-31-2862260

E-Mail

nurjahan@nurjahangroup.com

Website

www.nurjahangroup.com

Established

2004

Company Registration No

CH-5274

Registration date

8th November 2004

Legal Status

Private Limited 

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Chittagong 

Business Type

Manufacturer & Seller

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

1628/1671, Ramjoy Mohajan Lane, Asadgonj, Chittagong

Telephone No

880-31-2852063, 632070, 623541

Fax No

880-31-2862260

E-Mail

nurjahan@nurjahangroup.com

Website

www.nurjahangroup.com

Branch 

NIL

Factory

Fauzderhat Industrial Area, Sagarika Road, Chittagong, Bangladesh

Factory Telephone No

880-31-751366, 751225, 752975,

Factory Fax No

880-31-750425

Warehouse

Fauzderhat Industrial Area, Sagarika Road, Chittagong, Bangladesh

 

DIRECTORS

 

Name

Mr. Zahir Ahammed

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Tipu Sultan 

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Tasmin Ahmmed

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Jasim Uddin 

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Farhad Monowar

Designation

Director

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturer & Seller

Items Dealing In

Edible Oil  

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Local: Cash or Credit

 

BANKERS

 

Name

Eastern Bank Ltd

Branch

Agrabad Branch

Address

Agrabad Commercial Area, Chittagong 

SWIFT

N/A

 

 

Name

Prime Bank Ltd

Branch

Khatunganj Branch

Address

Khatunganj, Chittagong 

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2011

2010

 

2009

Investment

Tk.33 million

Tk.30 million

Tk.30 million

Turnover

Tk.315 million

Tk.312.7 million

Tk.312 million

Liability

NIL

NIL

NIL

Assets

Tk.45 million

Tk.43 million

Tk.43 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.30 million

Paid Up Capital

Tk.3 million

Each Share Value

Tk.100.00

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

128.1970

U.S Dollar

1

81.8000

European Euro

1

106.5772

 

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$ 27,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

1,100

Office Area (Sq. Ft)

3,000 sq.ft (rented)

Factory Area (Sq. Ft)

35,000 Sqf (rented)

Warehouse Area (Sq. Ft)

6,500  sq.ft.(own)

Range of Products

4 Edible oil   

Major Clients  

4 The Pan Pacific Sonargaon Hotel

4 Westin Hotels & Resorts

4 Lab-Aid hospital

4 Apollo Hospital 

4 Mr. Baker Canadian Food Centre

4 Biman Bangladesh Airlines

4 KFC

4 Pizza Hut

4 Golden Harvest

4 Baton Rough Foods Ltd

4 Coopers

Certification

4 ISO 9001 HACCP

Group Companies

4 Nurjahan Super Oil Ltd

4 Jasmir Vegetable Oil Ltd

4 Zamia Edible Oil Ltd

4 Zamia Super Oil Ltd

4 Zamia Vegetable Oil Ltd

4 Nurjahan Synthetics Ltd

4 Sagarika Bottle & Packing Industries Ltd

4 Tasmin Flour Mills Ltd

4 Lahiri Enterprise

4 Ry Shipping Lines Ltd

4 Tasmin Properties & Development Ltd

4 Sufi & Brothers

4 Ahmed Traders

4 Nurjahan Cng Re-Fuelling Station Ltd

4 Nurjahan Tank Terminal Ltd

4 Nurjahan Spices Ltd

4 Nurjahan Bricks Ltd

Member

4 Chittagong Chamber of Commerce & Industry, Chittagong

4 Bangladesh Vegetable Oil Refiners and Vanaspati  

    Manufacturers Association, Chittagong 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.25

UK Pound

1

Rs.79.76

Euro

1

Rs.66.52

 

 

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.