MIRA INFORM REPORT

 

 

Report Date :

01.09.2012

 

IDENTIFICATION DETAILS

 

Name :

MYMENSINGH AGRO LIMITED

 

 

Registered Office :

Pran-Rfl Center, 105 Middle Badda, Dhaka 1212

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

17.07.2006

 

 

Com. Reg. No.:

C-62791

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

 

 

 

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.
 
 

 

No. of Employees :

395 employees

 

 

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

 

 

BANGLADESH - ECONOMIC OVERVIEW

 

The economy has grown 5-6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, and slow implementation of economic reforms. Bangladesh remains a poor, overpopulated, and inefficiently-governed nation. Although more than half of GDP is generated through the service sector, 45% of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Bangladesh's growth was resilient during the 2008-09 global financial crisis and recession. Garment exports, totaling $12.3 billion in FY09 and remittances from overseas Bangladeshis, totaling $11 billion in FY10, accounted for almost 12% of GDP.

 

Source : CIA

 

 

 

 

 

 

 

 

 

 

COMPANY DETAILS

 

Name

Mymensingh Agro Limited

Address

Mulgaon, Sandanpara, Kaliganj, Gazipur

Location : Owned

Country

Bangladesh

Telephone No

880-2-8835546, 8835547, 8835548, 8835549, 8835550

Fax No

880-2-8820256, 9890759

E-Mail

mktg@prangroup.com

Website

www.rflbd.com

Established

2006

Commercial Production From

2010

Company Registration No

C-62791

Registration date

17th July 2006

Legal Status

Private 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

 

Corporate Head Office

PRAN-RFL Center, 105 Middle Badda, Dhaka 1212

Telephone No

880-2-8835546, 8835547, 8835548, 8835549, 8835550

Fax No

880-2-8820256, 9890759

E-Mail

info@pranrflgroup.com / mktg@pranrflgroup.com

Website

www.pranrflgroup.com

Registered Office

Property Heights, 12, R.K. Mission Road, Dhaka-1203

Factory

Mulgaon, Sandanpara, Kaliganj, Gazipur

Factory Tel No

NIL

Factory Fax No

NIL

Warehouse

Mulgaon, Sandanpara, Kaliganj, Gazipur

 

DIRECTORS

 

Name

Maj. Gen. (Retd) Amjad Khan Chowdhury

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Ahsan Khan Chowdhury

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Sabiha Amjad

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name 

Maj. Gen. (Retd) Amjad Khan Chowdhury

Share Percentage

62%

Nationality

Bangladeshi

 

 

Name

Mr. Ahsan Khan Chowdhury

Share Percentage

31%

Nationality

Bangladeshi

 

 

Name

Mrs. Sabiha Amjad

Share Percentage

5%

Nationality

Bangladeshi

 

 

Name

Property Development Limited

Share Percentage

2%

Nationality

Bangladeshi

 

BUSINESS DETAILS

 

Line of Business

Manufacturer & Seller

Items Dealing In

Beverage & Others  

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Local: Cash or Credit

 

 

BANKERS

 

Name

Commercial Bank of Cylon Plc

Branch

Motijheel Branch

Address

Motijheel Commercial Area, Dhaka

SWIFT

N/A

 

 

Name

Southeast Bank Limited

Branch

Motijheel Branch

Address

Motijheel Commercial Area, Dhaka

SWIFT

N/A

 

 

Name

HSBC

Branch

Main Office Branch

Address

Sonargaon Road, Dhaka

SWIFT

N/A

 

 

Name

Standard Chartered Bank

Branch

Gulshan Branch

Address

Gulshan Avenue, Dhaka

SWIFT

N/A

 

 

Name

Brac Bank Limited

Branch

Gulshan Branch

Address

Gulshan Avenue, Dhaka

SWIFT

N/A

 

FINANCIAL INFORMATION

 

Year

2011

2010

 

2009

Investment

Tk.30 million

Tk.30 million

N/A

Turnover

Tk.270.6 million

Tk.270 million

N/A

Liability

Tk.9 million

Tk.10 million

N/A

Assets

Tk.40 million

Tk.40 million

N/A

 

Information Parted By:

 

Name               : Mr. Vipul

Designation      : Accountant

Date                 : 01.09.2012

 

 

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.200 million

Paid Up Capital

Tk.100,000.00

Each Share Value

Tk.100.00

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

129.3873

U.S Dollar

1

81.7200

European Euro

1

102.3870

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks

No Found

Debt

No Found

Litigation

No Records Found

Performance Defaults

No Records Found

Adverse Press Coverage

No Records Found

Money Laundering

No Records Found

 

 

GENERAL INFORMATION

 

Employees

395

Office Area (Sq. Ft)

2,200 sq.ft (own)

Factory Area (Sq. Ft)

65,000 sq.ft (own)

Warehouse Area (Sq. Ft)

5,500 sq.ft.(own)

Range of Products

4 Beverage

4 Liquid Glucose

4 Mineral Water

Major Clients 

4 Local Consumers

Certification

NIL

Group Name

4 Pran-RFL Group  

Subsidiaries / Affiliates

4 Agriculture Marketing Co. Ltd

4 RFL Plastic Limited

4 Rangpur Foundry Limited

4 Banga Trading House Limited

4 Pran Foods Limited

4 Bangladesh Lift Industries Limited

4 Pran Agro Business Limited

4 Pran Dairy Limited

4 Pran Beverage Limited

4 Banga Plastic International Limited

4 Natore Dairy Limited

4 Accessories World Limited

4 Chorka Textile Limited

4 Sun Basics Chemicals Limited

4 Ghorashal Filling Station Limited

4 Allplast Bangladesh Limited

4 Pran Agro Limited

4 Banga Agro Processing Limited

4 Pran Confectionery Limited

4 Pran Export limited

4 Durable Plastic Limited

4 Rangpur Metal Industries Limited

4 Career Builders Limited

4 Packmat Industries Limited

4 Banga Building Materials Limited

4 RFL Metal Industries Limited

4 Pran Beverage India Pvt. Limited

Member

4 Dhaka Chamber of Commerce & Industry, Dhaka

 

BUSINESS TREND & PROSPECT

 

Business Scale           

Fairly Large

Business Trend

Growing

Management Capability

Good

Reputation

Good

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.72

UK Pound

1

Rs.87.95

Euro

1

Rs.69.66

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)