MIRA INFORM REPORT

Report Date :

18.04.2014

IDENTIFICATION DETAILS

Name :	RIPON PACKAGING INDUSTRIES (PVT.) LTD.
Registered Office :	Jarun, Konabari, Gazipur
Country :	Bangladesh
Date of Incorporation :	15.01.1997
Com. Reg. No.:	C-32158
Legal Form :	Private Company
Line of Business :	manufacturer & distributor of Label (Satin, Paper, Cotton, Oven), Gum Tape, Poly, Sewing Thread, Hanger & Carton
No of Employees :	100 (10 in Office & 90 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
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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
Bangladesh	B1	B1

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	:	Ripon Packaging Industries (Pvt.) Ltd.
Head Office	:	Jarun, Konabari, Gazipur, Bangladesh.
Tel No	:	88-02-9297175, 9297115
Fax No	:	88-02-9298903
E-mail	:	info@ripongroupbd.com reza@ripongroupbd.com
Website	:	Nil
Date/ Year of Incorporation	:	15.01.1997
Incorporation No.	:	C-32158
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. 138 Million	Tk. 12.65 Million	Tk. 3.15 Million
July’ 12~June’ 13	Tk. 195 Million	Tk. 13.93 Million	Tk. 4.40 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. Rezaul Karim
Designation	:	Assist. General Manager.
Contact No	:	88-01716500523

Locations Details
Operating Address	:	Jarun, Konabari, Gazipur, Bangladesh.
Tel No	:	88-02-9297175, 9297115
Fax No	:	88-02-9298903
E-mail	:	info@ripongroupbd.com reza@ripongroupbd.com
Website	:	Nil

Location :

: Owned

Rented

Ö

Leased

Area

24000

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	:	Jarun, Konabari, Gazipur, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Ö

Leased

Area

18500

Sq. ft.

Branches:
Address	:	House # 29, Road # 17, Block # E, Banani, Dhaka-1213, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	10	In Factory	:	90
	In Branch:	:	-	Total	:	100
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Mr. Md. Faruque Hossain	1500
Mr. Md. Siddiqur Rahman Khan	250
Mrs. Ruma Akter	250

DIRECTORS

Name	Designation
Mr. Md. Faruque Hossain	Managing Director
Mr. Md. Siddiqur Rahman Khan	Director
Mrs. Ruma Akter	Director

Management
Name	:	Mr. Rezaul Karim
Job Description	:	Assist. General Manager.
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	88-01716500523

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Ö	Trader	Dealer	Distributor	Ö
	Exporter		Importer	Services	Others

Range of Products:
Products	:	Label (Satin, Paper, Cotton, Oven), Gum Tape, Poly, Sewing Thread, Hanger & Carton.
Production Capacity	:	Nil
Last Year Production	:	Nil

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

DETAILED DATA

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			:	India, China
Brand Name			:	N/A
Certified			:	N/A
Auditors			:	N/A
Operation Status			:	Active.
Member			:	N/A

CAPITAL STRUCTURE

Authorized Capital	:	Tk. 10 Million
Paid-up Capital	:	Tk. 2, 00,000	No. of Shares	:	2000	Share Value	:	Tk.100.00Each
Main Assets	:	Tk. 13.93 Million

FINANCIAL STATEMENT- DETAILED

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

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns	:	Ripon Knitwear Ltd. Mama Packaging.
Subsidiary	:	Nil
Name of The Group	:	Ripon Group.

banking

Bank Name	:	Southeast Bank Ltd.
Bank Address	:	Gulshan Branch. House #82 CES (F), 1, Gulshan Avenue Dhaka Phone: 9883491, 9883401 - 5, 9883492 Fax: 88 - 02 - 9883495 Tlx: 632478 SBGUL BJ Swift: SEBDBDBHGUL Email: hob.gl@sebankbd.com

ADVERSE DATA MONITORING

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 Head office which is situated at Jarun, Konabari, Gazipur, Bangladesh. The subject company Assist. General Manager Mr. Rezaul Karim gave us all information. Is situated at commercial area which is a well decorated modern office.

GENERAL COMMENTS

Established in Jan. 1997, Subject is mainly engaged in manufacturer & distributor. Having been in operation for several years, Subject maintains acceptable business volume. Subject enjoys some recognition and impact in the line.

Adopted Abbreviations:
NA- Not Available	TK- Bangladeshi Taka

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.38
UK Pound	1	Rs.101.63
Euro	1	Rs.83.57

INFORMATION DETAILS

Analysis Done by :	SUM
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.