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Report Date : |
08.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEDICON PHARMACEUTICALS LIMITED. |
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Registered Office : |
44, Purana Paltan,
Dhaka-1000 |
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Country : |
Bangladesh |
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Date of Incorporation : |
17.06.1984 |
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Com. Reg. No.: |
C-12266 |
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Legal Form : |
Private Company |
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Line of Business : |
manufacturing
and distributor of a wide range
of therapeutic drugs with various dosage form including Tablet, Capsule,
Syrup, Dry Syrup, Suspension Emulsion, Cream,
Ointment, Oral gel, & Veterinary as well as animal health products to
satisfy the unmet medical needs home & abroad. |
|
|
|
|
No. of Employees |
1100 (60 in Office + 1040 in
Factory) |
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 |
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Payment Behaviour : |
No Complaints |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Bangladesh ECONOMIC OVERVIEW
Bangladesh's
economy has grown roughly 6% per year since 1996 despite political instability,
poor infrastructure, corruption, insufficient power supplies, slow
implementation of economic reforms, and the 2008-09 global financial crisis and
recession. Although more than half of GDP is generated through the service
sector, almost half of Bangladeshis are employed in the agriculture sector with
rice as the single-most-important product. Garment exports, the backbone of
Bangladesh’s industrial sector and 80% of total exports, surpassed $21 billion
last year, 18% of GDP. The sector has remained resilient in recent years amidst
a series of factory accidents that have killed over 1,000 workers and crippling
strikes that shut down virtually all economic activity. Steady garment export
growth combined with remittances from overseas Bangladeshis, which totaled
almost $15 billion and 13% of GDP IN 2013, are the largest contributors to
Bangladesh’s current account surplus and record foreign exchange holdings.
|
Source
: CIA |
IDENTIFICATION
DETAILS
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||
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||
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Correct
company Name |
: |
Medicon
Pharmaceuticals Limited. |
|
Previous
Name |
: |
Medicon Laboratories Limited. |
|
Head
Office |
: |
44, Purana Paltan, Dhaka-1000, Bangladesh. |
|
Tel
No |
: |
88-02- 9554901, 9566580 |
|
Fax
No |
: |
88-02-9567621 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/ Year
of Incorporation |
: |
17.06.1984 |
|
Incorporation No. |
: |
C-12266 |
|
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. 375 Million |
Tk. 55.62 Million |
Tk. 11.29 Million |
|
July’ 12~June’ 13 |
Tk. 418 Million |
Tk. 59.71 Million |
Tk. 13.15 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. Abid Hossain |
|
Designation |
: |
Manager
(Procurement). |
Locations Details
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Operating
Address |
: |
44, Purana Paltan, Dhaka-1000,
Bangladesh. |
|
Tel
No |
: |
880-2- 9554901, 9566580 |
|
Fax
No |
: |
88-02-9567621 |
|
E-mail |
: |
|
|
Website |
: |
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Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
3200 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
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 |
: |
Shilpa Plot#17/A-1,
Block #D, Section # 10, Mirpur, Dhaka-1216,
Bangladesh. |
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Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
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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 |
: |
60 |
In
Factory |
: |
1040 |
|
|
In Branch: |
: |
- |
Total
|
: |
1100 |
||
ownership / shareholders |
|
|
Names of Shareholders |
No. of Share |
|
Mr. Md. Nurul Huda |
65243 |
|
Mrs. Selina Huda |
48757 |
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Mr. Md. Nabil Huda |
42400 |
|
Ms. Nayeema Nehrin Huda |
21200 |
|
Mr. Md. Naquib Huda |
42400 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Md. Nurul Huda |
Managing Director |
|
Mrs. Selina Huda |
Director |
|
Mr. Md. Nabil Huda |
Director |
|
Ms. Nayeema Nehrin Huda |
Director |
|
Mr. Md. Naquib Huda |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Abid hossain |
|
Job Description |
: |
Manager
(Procurement). |
|
Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
|
Other details |
: |
N/A |
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Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
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Distributor |
Ö |
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|||||||
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Exporter |
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Importer |
|
Services |
|
Others |
|
Main Activity
manufacturing
and distributor of a wide range
of therapeutic drugs with various dosage form including Tablet, Capsule, Syrup,
Dry Syrup, Suspension Emulsion, Cream, Ointment, Oral gel, & Veterinary products
to satisfy the unmet medical needs home & abroad.
|
Range of Products: |
||
|
|
||
|
Products |
: |
Tablet,
Capsule, Syrup, Dry Syrup, Suspension
Emulsion, Cream, Ointment, Oral gel, &
Veterinary products |
|
Production
Capacity |
: |
N/A |
|
Last Year Production |
: |
N/A |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
|
|
Credit
: |
|
30
days |
|
60
days |
Ö |
90
days |
|
|
days |
|
Selling
Terms : |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit
: |
|
30
days |
|
60
days |
Ö |
90
days |
|
|
days |
DETAILED
DATA
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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 |
: |
Chinas, India ,
Germany, Malaysia, Thailand |
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Brand Name |
: |
N/A |
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Certified |
: |
ISO 9001:2008 |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active. |
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Member |
: |
Dhaka Chamber of Commerce & Industry. |
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CAPITAL
STRUCTURE
|
|
||||||||
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Authorized Capital |
: |
Tk. 10 Crore. |
|
||||||
|
Paid-up Capital |
: |
Tk. 2, 20,00,000 |
No. of Shares |
: |
2, 20,000 |
Share Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk. 59.71 Million. |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
The subject company
don’t submit update full financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES |
||
|
Sister Concerns |
: |
M. N. Huda and Co. M/S Edruc Ltd. Medicon Food & Beverage Ltd. Medicon Agro vet. |
|
Subsidiary |
: |
Nil |
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Name of The Group |
: |
Nil |
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Bank Name |
: |
Jamuna Bank Ltd.
|
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Bank Address |
: |
Sonargaon Road Branch, National Plaza,
109, Bir Uttam CR Datta Road, Sonargaon Road, Dhaka Tel: 9670655,
9677050 |
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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 |
SITE
VISIT COMMENTARY
|
|
Our Representative
Visited the subject company address at 44, Purana Paltan, Dhaka-1000, Bangladesh. The subject company
Manager (Procurement) Mr. Abid hossain
welcome us & given us all information. Its office is decorated by modern
furniture. |
GENERAL
COMMENTS
|
|
Whilst interviewed,
Mr. Abid Hossain Manager
(Procurement) of the subject, provided us with a basic outline of the
subject's present state-of-affairs (as given above).The information provided
in this report is based on the information procured from the subject's file
at Official Registry (ROC). |
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
|
K Pound |
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.