MIRA INFORM REPORT

 

 

Report Date :

12.09.2012

 

IDENTIFICATION DETAILS

 

Name :

BASHUNDHARA PAPER MILLS LIMITED

 

 

Registered Office :

Plot # 125/A, Block A Bashundhara R/A, Road No-2, Baridhara, Dhaka - 1229

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

28.09.1993

 

 

Com. Reg. No.:

C-24705

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturing & Selling of Paper & Paper Products

 

 

No. of Employees :

2,500 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

Bashundhara Paper Mills Limited

Address

Bashundhara City, 13/K/1, Pantha Path, Dhaka

Country

Bangladesh

Telephone No

880-2-8402008

Fax No

880-2-8401522

E-Mail

info@bg.com.bd

Website

www.bashundharagroup.com, www.bg.com.bd

Established

1993

Company Registration No

C-24705

Registration date

28th September 1993     

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

 

Head Office

Plot # 125/A, Block A Bashundhara R/A, Road No-2, Baridhara, Dhaka - 1229

Telephone No

880-2-8402008

Fax No

880-2-8401522

E-Mail

info@bg.com.bd

Website

www.bashundharagroup.com, www.bg.com.bd

Branch 

Bashundhara City, 13/K/1, Pantha Path, Dhaka

Marketing and Sales Office:

Bashundhara Industrial Head Quarter , Plot: 03, Umme Kulsum Road,
Block : G, Bashundhara R/A, Dhaka-1229
Phone : 8401024, Fax : 8401227

Factory

(Unit-1 & 2)
Meghnaghat, P/O: Newtown, Sonargaon, Narayangonj
Mobile : 01199-850865

 

(Unit-3)
Anarpura, Gazaria, Munshigonj
Phone # 01199855694, Fax # 04476001562

Factory Tel No

NIL

Factory Fax No

NIL

Warehouse

(Unit-1 & 2)
Meghnaghat, P/O: Newtown, Sonargaon, Narayangonj
Mobile : 01199-850865

 

(Unit-3)
Anarpura, Gazaria, Munshigonj
Phone # 01199855694, Fax # 04476001562

 

 

DIRECTORS

 

Name

Mr. Ahmed Akbar Sobhan   

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mrs. Rawshan Ara Begum

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Safwan Sobhan

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Afroza Begum

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Sadat Sobhan

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Shafiat Sobhan 

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Sayem Sobhan

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Mahaboob Morshed Hassan

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Laila Anjuman Begum

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Md. Shafiqur Rahman

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Md. Gias Uddin

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Md. Abdus Samad

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Mr. Ahmed Akbar Sobhan   

Share Percent

7.6%

Nationality

Bangladeshi

 

 

Name

Mrs. Rawshan Ara Begum

Share Percent

0.005%

Nationality

Bangladeshi

 

 

Name

Mr. Safwan Sobhan

Share Percent

16.5%

Nationality

Bangladeshi

 

 

Name

Mrs. Afroza Begum

Share Percent

12.3%

Nationality

Bangladeshi

 

 

Name

Mr. Sadat Sobhan

Share Percent

16.5%

Nationality

Bangladeshi

 

 

Name

Mr. Shafiat Sobhan 

Share Percent

16.5%

Nationality

Bangladeshi

 

 

Name

Mr. Sayem Sobhan

Share Percent

16.5%

Nationality

Bangladeshi

 

 

Name

Mr. Mahaboob Morshed Hassan

Share Percent

0.1%

Nationality

Bangladeshi

 

 

Name

Mrs. Laila Anjuman Begum

Share Percent

0.005%

Nationality

Bangladeshi

 

 

Name

Mr. Md. Shafiqur Rahman

Share Percent

0.015%

Nationality

Bangladeshi

 

 

Name

Mr. Md. Gias Uddin

Share Percent

0.12%

Nationality

Bangladeshi

 

 

Name

Mr. Md. Abdus Samad

Share Percent

0.11%

Nationality

Bangladeshi

 

 

Name

East West Property Development (Pvt.) Limited

Share Percent

13.4%

Country

Bangladesh

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturing & Selling

Items Dealing In

Paper & Paper Products

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Purchase

Local: Cash or Credit

 

 

BANKERS

 

Name

Janata Bank Limited

Branch

Motijheel Branch

Address

Motijheel C/A, Dhaka

SWIFT

NIL

 

 

Name

Sonali Bank Limited

Branch

Motijheel Branch

Address

Motijheel C/A, Dhaka

SWIFT

NIL

 

 

FINANCIAL INFORMATION

 

Year

2011

2010

 

2009

Investment

Tk.70 million

Tk.70 million

Tk.68 million

Turnover

Tk.486.7 million

Tk.486 million

Tk.484 million

Liability

Tk.5.6 million

Tk.6 million

Tk.8 million

Assets

Tk.92 million

Tk.92 million

Tk.90 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.5 billion

Paid Up Capital

Tk.190,521,500.00 

Each Share Value

Tk.10.00

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

131.5657

U.S Dollar

1

81.8500

European Euro

1

105.2345

 

 

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

2,500

Office Area (Sq. Ft)

2,800 sq.ft (own)

Factory Area (Sq. Ft)

10 acres of land (own)

Warehouse Area (Sq. Ft)

20,000 sq.ft (own)

Range of Products

4 MG Paper

4 Offset Paper

4 White Writing & Printing Paper

4 Brown Wrapper

4 Brown Liner

4 Cartridge Paper

4 Newsprint Paper

4 Coated/Uncoated Paper Board

4 A4 Paper

4 Glassine Paper

4 Stiffener Paper

4 Ledger Paper

4 PP Woven Bag

4 Sack Paper

4 Plug Wrap

4 Alufoil Paper

4 Cigarette Tipping Paper   

Brand Name   

4 Bashundhara   

Certifications

NIL

Group Name

4 Bashundhara Group

Subsidiaries / Affiliates

4 East West Property Development (Pvt.) Ltd

4 Meghna Cement Mills Ltd

4 Bashundhara Industrial Complex Ltd

4 Bashundhara LP Gas Ltd

4 Bashundhara City Development Ltd

4 Bashundhara Industrial Complex Ltd

4 Bashundhara Steel And Engineering Ltd

4 Bashundhara Logistics Ltd

4 Bashundhara Foundation

4 Bashundhara Convention Center

4 Bashundhara Dredging Co. Ltd

4 Bashundhara Technical Institute

4 Bashundhara Food and Beverage industries Ltd

4 Sundarban Steel Complex Ltd

4 Bashundhara Cement Industries LTD

4 Eest West Media Group

Member

4 Dhaka Chamber of Commerce & Industries, Dhaka

4 Bangladesh Paper Mills Association, 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.55.52

UK Pound

1

Rs.88.85

Euro

1

Rs.70.85

 

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%)

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.