|
Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
AFIL FISH FEED LTD. |
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Registered Office : |
Akij Chamber (7th Floor), 73 Dilkusha C/A, Dhaka-1000 |
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Country : |
Bangladesh |
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Date of Incorporation : |
08.11.2009 |
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Com. Reg. No.: |
C-80581 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer & distributor of Animal & fish Feed |
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No. of Employees : |
230 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Bangladesh - ECONOMIC OVERVIEW
In real terms Bangladesh's
economy has grown 5.8% 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 |
IDENTIFICATION DETAILS
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|
Correct
company Name |
: |
Afil Fish Feed Ltd. |
|
Head
Office |
: |
Akij Chamber (7th Floor), 73 Dilkusha
C/A, Dhaka-1000, Bangladesh. |
|
Tel
No |
: |
88-02-9571530, 9566886, 9571656 |
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Fax
No |
: |
88-02-9552560 |
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E-mail |
: |
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|
Website |
: |
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|
Date/ Year of Incorporation |
: |
08-11-2009 |
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Incorporation No. |
: |
C-80581 |
|
Legal
Form (General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole
Proprietorships Partnership Not
Registered others (please specify) ________________ |
|
Legal
form (Specific) |
: |
LTD CORP
INC CO
others (please specify) ________________ |
|
Issuing
Authority |
: |
Registrar
of Joint Stock Companies & Firms City
Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
|
|||
|
Year |
Turnover/ Sales |
Assets |
Income |
|
July’11~June’12 |
Tk. 225 Million |
Tk. 24 Million |
Tk. 3.15 Million |
|
July’12~June’13 |
Tk. 262 Million |
Tk. 25 Million |
Tk. 3.85 Million |
|
Exchange Rate |
USD1-Tk. 77.8200 EUR 1-
Tk. 100.2711 GBP 1-
Tk.118.5354 AUD 1 -
Tk.82.8563 JPY 1 -
Tk.0.9286 |
CAD 1 -
Tk.80.1887 SEK 1 -
Tk.12.2870 SGD 1 -
Tk.65.3045 CNH 1 -
Tk.12.8399 |
|
Information
Parted By
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Name |
: |
Mr. Md. Shofioul
Islam |
|
Designation |
: |
Commercial
Officer |
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Contract No |
: |
88-01978090196 |
Locations Details
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Business
Address |
: |
Akij Chamber (7th Floor), 73, Dilkusha
C/A, Dhaka-1000, Bangladesh. |
|
Tel
No |
: |
88-02-9571530, 9566886, 9571656 |
|
E-mail |
: |
|
|
Fax No |
: |
88-02-9552560 |
|
Website |
: |
|
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Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
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Area |
2600 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
Ö |
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Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential
Bldg. |
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Factory: |
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Address |
: |
Godkhali,
Jhikargacha , Jessore, Bangladesh. |
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Tel
No |
: |
88-01978090169 |
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Fax
No |
: |
N/A |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
35000 |
Sq. ft. |
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Employee: |
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No.
of Employees |
In
Office |
: |
30 |
In
Factory |
: |
200 |
||
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In Branch: |
: |
- |
Total
|
: |
230 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
|
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Names of Shareholders |
No. of Share |
|
Mr. SK. Afil Uddin |
600 |
|
Mrs. Tahera Sobha |
400 |
DIRECTORS
|
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|
Name |
Designation |
|
Mr. SK. Afil Uddin |
Managing Director |
|
Mrs. Tahera Sobha |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Abdul Ahad |
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Job Description |
: |
A.G.M |
|
Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
|
|
|
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|
Name |
: |
Mr. Md. Shofioul
Islam |
|
Job Description |
: |
Commercial Officer |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01978090196 |
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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|||||||
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Exporter |
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Importer |
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Services |
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Others |
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Item Dealings In: |
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Products |
: |
Animal & fish Feed. |
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Production
Capacity |
: |
N/A |
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Last Year Production |
: |
N/A |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit
: |
|
30
days |
|
60
days |
Ö |
90
days |
|
|
days |
|
Selling
Terms : |
L/C |
|
Cash |
Ö |
Others |
|
|
|||
|
|
Credit
: |
|
30
days |
|
60
days |
|
90
days |
Ö |
15 |
days |
DETAILED DATA
|
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||||||||||
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
China, India |
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Brand Name |
: |
N/A |
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Certified |
: |
Nil |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
|||||||||
capital
structure
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Authorized Capital |
: |
Tk. 30 Million |
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||||||
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Paid-up Capital |
: |
Tk. 1,00,000 |
No. of Shares |
: |
1000 |
Share Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk. 25 Million |
|
||||||
Financial
statements – detailed
|
|
The subject company
don’t submit update financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
||
|
Sister Concerns |
: |
Afil Jute Weaving
Mills Ltd. Afil Paper Mills
Ltd. Afil Layer Farm
Ltd. Nebula Ink Ltd. Spandan Color Lab
Ltd |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Afil Group |
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Bank Name |
: |
AB Bank Limited |
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Bank Address |
: |
Jessore Branch 38 M. K. Road,
Jessore, Jessore - 7400 Telephone:
0421-61072, 0421-66013 Fax: 0421-68623 |
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Dishonored
Checks |
: |
No Record
Found |
|
Debt |
: |
No Record Found |
|
Litigation |
: |
Clear |
|
Performance
Defaults |
: |
No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
: |
No Record Found |
Our representative
visited the subject company Head Office which is situated at Akij Chamber (7th
Floor), 73 Dilkusha C/A, Dhaka-1000, Bangladesh. The subject company is private
limited company engaged in manufacturer. They are financially solvent & get
good support from their bank.
Repeated attempts to
obtain and verify information from SC were unsuccessful as they declined all
information citing confidentiality. Please note that our credit rating is based
on information gathered from external sources as well as information obtained
from past interviews.
|
Adopted Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
UK Pound |
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.65 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.