MIRA INFORM REPORT

Report Date :

17.04.2014

IDENTIFICATION DETAILS

Name :	BENGAL PRINTING AND PACKAGING LTD

Registered Office :	7, Belayet Hossain Sarak, Rupsha Strand Road, Khulna-9100,

Country :	Bangladesh

Date of Incorporation :	25.08.1989

Com. Reg. No.:	3-14A

Legal Form :	Private Co

Line of Business :	Manufacturer and Distributor of Garments Accessories, Printing and Packaging.

No of Employees :	80

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 :	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 30, 2013

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

Bangladesh

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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

Correct company Name	:	Bengal Printing and Packaging Ltd.
Head Office	:	7, Belayet Hossain Sarak, Rupsha Strand Road, Khulna-9100, Bangladesh.
Tel No	:	88-041-730681, 725624, 01711-814571
Fax No	:	880-41-730681
E-mail	:	bppltin@gmail.com
Website	:	Nil
Date/ Year of Incorporation	:	25-08-1989
Incorporation No.	:	3-14A
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
July’ 11~June’ 12	Tk. 48 Million	Tk. 9 Million	Tk. 1.90 Million
July’ 12~June’ 13	Tk. 64 Million	Tk. 10.25 Million	Tk. 2.42 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

Name

Mr. Abdul Mazed

Designation

Accountants.

Contract No

Locations Details

Operating Address	:	7, Belayet Hossain Sarak, Rupsha Strand Road, Khulna-9100, Bangladesh.
Tel No	:	88-041-730681, 725624, 01711-814571
Fax No	:	880-41-730681
E-mail	:	bppltin@gmail.com
Website	:	-

Location :

: Owned

Rented

Leased

Area

2500

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	:	7, Belayet Hossain Sarak, Rupsha Strand Road, Khulna-9100, Bangladesh.
Tel No	:	88-041-730681, 725624, 01711-814571
Fax No	:	880-41-730681

Location :

Owned

Rented

Leased

Area

25000

Sq. ft.

Branches:

Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	15	In Factory	:	65
	In Branch:	:		Total	:	80
Details:


Names of Shareholders	No. of Share
S.M. Azizul Alam	400
Mr. S.M. Mizanur Rahman	300
Mr. Nusrat Ara Alam	300

Name

Designation

S.M. Azizul Alam

Managing Director

Mr. S.M. Mizanur Rahman

Director

Mr. Nusrat Ara Alam

Director

Name

Mr. Abdul Mazed

Job Description

Accountants.

Nationality

Bangladeshi.

Email address

N/A

Other details

N/A

Name

Mr. Ashim Kumar

Job Description

General Manager.

Nationality

Bangladeshi.

Email address

N/A

Other details

N/A


Nature of Activity :	Manufacturer	Ö	Trader	Dealer	Distributor	Ö

	Exporter		Importer	Services	Others

Range of Products:

Products	:	Garments Accessories, Printing & Packaging.
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

N/A

Overseas Suppliers

N/A

Local Suppliers

N/A

Trade Markets

Exports

N/A

Imports

China, India

Brand Name

N/A

Certified

N/A

Auditors

N/A

Operation Status

Active.

Member

N/A

Authorized Capital

Tk.10,000,000

Paid-up Capital

Tk.1,00,000

No. of Shares

1000

Share Value

Tk.100.00Each

Main Assets

Tk. 10.25 Million

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

Sister Concerns

Nil

Subsidiary

N/A

Name of The Group

Nil

Bank Name

Prime Bank Ltd.

Bank Address

Khulna Branch,

7, Old Jessore Road, Khulna -9100

Phone: (041) 720071, 725100

Fax: 88-041-731195

Telex: 627266 PBLKN BJ

SWIFT: PRBLBDDH004

Email : pblkhulna@primebank.com.bd


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 address at 7, Belayet Hossain Sarak, Rupsha Strand Road, Khulna-9100, Bangladesh. The subject company Accountants Mr. Abdul Mazed welcome us & given us all information. Its office is decorated by modern furniture.

Established in Aug. 1989, Subject is mainly engaged in manufacturer & distributor of Garments Accessories, Printing & Packaging. Having been in operation for several years, Subject maintains acceptable business volume. Subject enjoys some recognition and impact in the line.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.26
UK Pound	1	Rs.100.78
Euro	1	Rs.85.29

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	SHG

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%)