MIRA INFORM REPORT

 

 

Report Date :

28.12.2013

 

IDENTIFICATION DETAILS

 

Name :

OPSONIN PHARMA LIMITED

 

 

Formerly Known As :

OPSONIN CHEMICAL INDUSTRIES LIMITED

 

 

Registered Office :

Opsonin Complex (5th Floor), 30 New Eskaton Road, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Year of Establishments:

1956 (As Partnership Concern)

10.03.1976 (As Private Limited Company)

 

 

Com. Reg. No.:

C-4741

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer, Seller & Exporter of Drugs & Medicine

 

 

No. of Employees :

2,400

 

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 – 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

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

 

 

 

 

COMPANY DETAILS

 

Name

OPSONIN PHARMA LIMITED

Previous Name: OPSONIN CHEMICAL INDUSTRIES LIMITED (Changed Date: 2005)

Address

Opsonin Complex (5th Floor), 30 New Eskaton Road, Dhaka-1000

Country

Bangladesh

Telephone No

880-2-9332262, 9337055, 9356451, 9356533

Fax No

880-2-8329050

E-Mail

rouf@opsonin.com

Website

www.opsonin.com

Established

1956 (As Partnership Concern)

Company Registration No

C-4741

Registration date

10th March 1976 (As Private Limited Company)

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Dhaka 

Business Type

Manufacturer, Seller & Exporter

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Opsonin Complex (5th Floor), 30 New Eskaton Road, Dhaka-1000

Telephone No

880-2-9332262, 9337055, 9356451, 9356533

Fax No

880-2-8329050

E-Mail

rouf@opsonin.com

Website

www.opsonin.com

Branch 

4 Dhaka

4 Chittagong

4 Sylhet

4 Mymensingh

4 Rangpur

4 Comilla

4 Borga

4 Khulna

4 Pabna

4 Barishal

Factory

Bogra Road, Barishal

Factory Tel No

NIL

Factory Fax No

NIL

Warehouse

Bogra Road, Barishal

 

 

DIRECTORS

 

Name

Capt. (Rtd.) Abdus Sabur Khan

Designation

Chairman

Nationality

Bangladeshi

 

 

Name

Mr. Abdur Rauf Khan   

Designation

Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Abdur Raquib Khan   

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Capt. (Rtd.) Abdus Sabur Khan

Share Percent

33.33%

Country

Bangladeshi

 

 

Name

Mr. Abdur Rauf Khan   

Share Percent

33.33%

Country

Bangladeshi

 

 

Name

Mr. Abdur Raquib Khan   

Share Percent

33.33%

Country

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturer, Seller & Exporter

Items Dealing In

Drugs & Medicine

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Purchase

Local: Cash or Credit

Export: Against L/C

 

 

BANKERS

 

Name

EXIM Bank Limited

Branch

New Eskaton Road Branch

Address

27/1, New Eskaton Road, Dhaka.

SWIFT

EXBKBDDHXXX

 

 

Name

Uttara Bank Limited

Branch

Bangabandhu Avenue Branch

Address

12 Bangabandhu Avenue Dhaka-1000

SWIFT

UTBLBDDH449

 

 

FINANCIAL INFORMATION

 

Year

2012

2011

 

2010

Investment

Tk.209 million

Tk.207 million

Tk.207 million

Turnover

Tk.5.2 billion

Tk.4.5 billion

Tk.4 billion

Liability

Tk.125 million

Tk.128 million

Tk.130 million

Assets

Tk.878 million

Tk.878 million

Tk.878 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.150 million

Paid Up Capital

Tk.52,500,000.00  

Each Share Value

Tk.100.00

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

118.2578

U.S Dollar

1

77.7500

European Euro

1

103.4308

 

 

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

2,400

Office Area (Sq. Ft)

5,800 sq.ft (own)

Factory Area (Sq. Ft)

2.5 acres of lands (own)

Warehouse Area (Sq. Ft)

8,950 sq.ft.(own)

Range of Products

4 Ace Inhibitors

4 Amino glycosides

4 Analgesic, Antipyretic & NSAIDs

4 Angiotensin Receptor Blokers

4 Antacids

4 Antheimintics

4 Anti-Parkinsonism Agents

4 Antiasthmatics

4 Antidepressaants

4 Antidiabetics

4 Antihistaminics

4 Antidiarrhorea

4 Antiepileptic

4 Antifungal

4 Antihaemorrhoidals

4 Antimalarials

4 Antimetics & Gastroprokinetics

4 Antiplatelets

4 Antiprotozoals

4 Antipsychotics

4 Antiseptic & Disinfectants

4 Antispasmodics

4 Antiulcerants

4 Antivertigo Agents

4 Anxiolytics

4 Beta Blokers

4 Calcium channel bloker

4 Cardiac Glycoside

4 Central vasodialator

4 Cephalosporins

4 Cholagogues & Hepatic Protectors

4 Combination & others

4 Corticosteroids

4 Cough Expectorants & Suppressants

4 Digestive Enzyme

4 Diuretics

4 H2 Receptor Blokers

4 Hypnotic

4 Laxatives

4 Lipid Lowering Agents

4 Macrolides

4 Muscle Relaxant

4 Narcotic Analgesics

4 Neurotonics

4 Other B-lactam except Penicillin, Cephalosproin

4 Penicillins

4 Prolactin Inhibitor

4 Proton Pump0 Inhibitors

4 Psycholeptic antidepressants

4 Quinolones

4 Scabicide

4 Steriod

4 Tetracyclines

4 Topical Antibacterials

4 Uterotonics

4 Vitamins, Minerals & Hematinics

Export Market      

4 Myanmar

4 Mauritius

4 Nepal

4 Pakistan

4 Philippines

4 Sri Lanka

4 Togo

4 Vietnam 

4 Yemen

Raw Materials From

4 USA

4 EEC Countries

4 Malaysia

4 Korea

4 China

4 Singapore

4 Thailand

4 Australia

4 Denmark

4 Hong Kong

Major Clients

4 Medical College

4 Private Clinic

4 Local Markets

Certifications

4 ISO-9001

Group Name

4 Opsonin Group

Subsidiaries / Affiliates

4 Opso Saline Limited

4 Opsonin Bulk Drugs Limited

4 Opsonin Consumer Products Limited

4 Opsonin Herbal & Nutraceuticals Limited  

4 Jokky Garments Limited

4 Global Capsules Limited

4 Global Heavy Chemicals Limited

Member

4 Dhaka Chamber of Commerce & Industries, Dhaka

4 Bangladesh Association of Pharmaceuticals

 

 

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.62.06

UK Pound

1

Rs.102.03

Euro

1

Rs.85.27

 

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.