MIRA INFORM REPORT

Report Date :

02.10.2013

IDENTIFICATION DETAILS

Name :	PERFETTI VAN MELLE BANGLADESH PRIVATE LIMITED

Registered Office :	Silver Tower(3rd Floor), 52, Gulshan Avenue, Gulshan-1, Dhaka-1212,

Country :	Bangladesh

Date of Incorporation :	29.07.2003

Com. Reg. No.:	C-50038

Legal Form :	Private Co

Line of Business :	Manufacturer and Distributor of Sugar Confectionery Products like Chewing Gum, Candies Etc.

No. of Employees :	650 (In Office 55 + 595 In Factory)

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Good
Payment Behaviour :	Regular
Litigation :	--

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 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Bangladesh

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

	IDENTIFICATION DETAILS

	Correct company Name	:	PERFETTI VAN MELLE BANGLADESH PRIVATE LIMITED
	HeadOffice	:	Silver Tower(3rd Floor), 52, Gulshan Avenue, Gulshan-1, Dhaka-1212, Bangladesh
	Tel No	:	88-02-8835365, 8835973
	Fax No	:	88-02-8837178
	E-mail	:	hradmin.ho@bd.pvmgrp.com, rezaul.emon@bd.pvmgrp.com bakhtiar.alam@bd.pvmgrp.com
	Website	:	www.perfettivanmelle.co
	Date/ Year of Incorporation	:	29.07.2003
	Incorporation No.	:	C-50038
	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)


Year	Turnover/ Sales	Assets		Income
2011	Tk.225 Million	Tk.30Crore		Tk.3.65 Million
2012	Tk.235 million	Tk.30.5 Crore		Tk.4.90 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

Sales Trend – Analysis:
2002	2003	2004	2005	2006	2007	2008	2010	2011	2012
-	-	-	-	-	-	-



Information Parted By

Name	:	Mr. Abdul Hoq
Designation	:	CEO
Contract No	:	-

Locations Details

Business Address	:	Silver Tower (3rd Floor), 52, Gulshan Avenue, Gulshan-1, Dhaka-1212, Bangladesh
Tel No	:	88-02-8835365, 8835973
E-mail	:	88-02-8837178
Fax No	:	hradmin.ho@bd.pvmgrp.com, rezaul.emon@bd.pvmgrp.com bakhtiar.alam@bd.pvmgrp.com
Website	:	www.perfettivanmelle.co

Location :

: Owned

Rented

Leased

Area

7500

Sq. ft.

Type of Office :	: Commercial Office Bldg.	Ö		Semi-commercial office Bldg.
	Retail shop		Industrial Park
	Business Center		Home Office
	Residential Bldg.

Factory:

Address	:	Vill:BeraiderChala, P O: Beraid, P S: Sreepur, Dist:Gazipur, Bangladesh
Tel No	:	-
Fax No	:	-

Location :

Owned

Rented

Leased

Area

45,000

Sq. ft.

Employee:

No. of Employees	In Office	:	55	In Factory	:	595
	In Branch:	:		Total	:	650
Details:


Names of Shareholders	No. of Share
Perfetti Van MelleInvstmnts B.V.	800099
Mr. Stefano Pelle	1


Name	Designation
Mr. Stefano Pelle	Chairman
Mr. Ramesh Jayaraman	Director
Mr. Harsh Kumar Arora	Director

Name

Mr. Abdul Hoq

Job Description

CEO

Nationality

Bangladsh

Email address

Other details

Nature of Activity :

Manufacturer

Trader

Dealer

Distributor

Exporter

Importer

Others

Range of Products/Item Dealings In:

Products	:	Sugar Confectionery Products like Chewing Gum, Candies Etc.
Production Capacity	:	N/A
Last Year Production	:	N/A

Trading Terms:

Purchasing Terms:	L/C	Ö	Cash		Others
	Credit :		30 days		60 days	Ö	90 days			days

Selling Terms :	L/C		Cash	Ö	Others
	Credit :	Ö	30 days		60 days		90 days			days

Trade Reference & Related Parties

Overseas Clients

N/A

Local Clients

Local people

Overseas Suppliers

N/A

Local Suppliers

N/A

Trade Markets

Exports

N/A

Imports

China, India, Germany

Brand Name

Mentos, Alpenlibe, Creamfill, Center Fresh, Chlor-Mint, Center Fruit etc.

Certified

Nil

Auditors

Nil

Operation Status

Active

Member

Nil

Authorized Capital

Tk.40 Crore

Paid-up Capital

Tk.8,00,10,000

No. of Shares

800100

Share Value

Tk.100.00Each

Main Assets

Tk.30.5 Crore

The subject company don’t submit update financial figure to local registry office.

Sister Concerns

Nil

Subsidiary

Nil

Name of The Group

Nil

Bank Name

Citi Bank NA

Bank Address

Motijheel Branch,

Motijheel, Dhaka


Dishonored Checks	:	No Record Found
Debt	:	No Record Found
Litigation	:	Clear
Performance Defaults	:	No Record Found
Adverse Local Media Coverage/ Adverse Filling History	:	No Record Found

Our representative visited the subject company registered address which is situated at Silver Tower (3rd Floor), 52, Gulshan Avenue, Gulshan-1, Dhaka-1212, Bangladesh

Repeated attempts to obtain and verify information from subject company were unsuccessful as they declined all information citing confidentiality. Please not that our credit rating is based on information gathered from external sources as well as information obtained from past interviews.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.35
UK Pound	1	Rs.101.20
Euro	1	Rs.84.53

INFORMATION DETAILS

Report Prepared by :

NLM

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.

MIRA INFORM REPORT

Unit