MIRA
INFORM REPORT
|
Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE IBN SINA PHARMACEUTICAL INDUSTRY LTD. |
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Registered Office : |
House # 41, Road # 10/A, Dhanmondi, Dhaka-1209 |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
22.12.1983 |
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Legal Form : |
Public Listed Co |
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Line of Business : |
Manufacturer, Exporter, Importer, Marketing of all Types of Pharmaceuticals Item. |
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No. of Employees : |
3000 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
|
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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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 |
: |
The Ibn Sina Pharmaceutical Industry
Ltd. |
|
Head Office |
: |
House # 41, Road # 10/A, Dhanmondi, Dhaka-1209,
Bangladesh. |
|
Tel No |
: |
88-02-9114710, 9117496, 9138617,
9132521 |
|
Fax No |
: |
88-02-8110315, 8118432 |
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E-mail |
: |
info@ibnsinapharma.com ibnsina@bangla.net |
|
Website |
: |
www.ibnsinapharma.com |
|
Date/ Year of Incorporation |
: |
22.12.1983 |
|
Incorporation No. |
: |
C-11424 |
|
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 |
|
31st
December’2012 |
Tk. 2, 009,421,297 |
Tk. 1, 048,577,023 |
Tk. 87, 584,869 |
|
31st
December’2013 |
Tk. 2, 208,718,088 |
Tk. 1, 096,432,108 |
Tk. 115, 319,496 |
|
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 |
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FULLCHECK REPORT DETAILS
|
Information Parted By |
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Name |
: |
Mr. Md.
Shahid Farooqui |
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Designation |
: |
Company
Secretary |
|
Contract No |
: |
- |
|
Locations Details |
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Operating Address |
: |
House # 41, Road # 10/A, Dhanmondi, Dhaka-1209, Bangladesh. |
|
Tel No |
: |
88-02-9114710, 9117496, 9138617,
9132521 |
|
Fax No |
: |
88-02-8110315, 8118432 |
|
E-mail |
: |
info@ibnsinapharma.com ibnsina@bangla.net |
|
Website |
: |
www.ibnsinapharma.com |
|
Location : |
:
Owned |
Ö |
|
Rented |
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|
Leased |
|
Area |
4500 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
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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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Manufacturing Plant |
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Address |
: |
Shafipur, Gazipur
Bangladesh.
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Tel No |
: |
88-068-2251403, 2251404 |
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Fax No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
15 |
Acores |
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Branches: |
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Address |
: |
Nil |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
80 |
In Factory |
: |
2920 |
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In Branch: |
: |
- |
Total
|
: |
3000 |
|||
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Details: |
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OWNERSHIP/SHAREHOLDERS
|
Names of Shareholders |
No. of Share |
|
Mr. Advocate Mujibur Rahman |
67284 |
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Mr. Prof. A.N.M.A. Zaher |
67476 |
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Mr. Commodore (Retd.) M.A. Rahman |
69336 |
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Mr. Mir Quashem Ali |
70716 |
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Mr. Shah Abdul Hannan |
69696 |
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Mr. Prof. Dr. A.K.M. Sadrul Islam |
63756 |
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Mr. Prof. Dr. Matiur Rahman |
1500 |
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Mr. Prof. Dr. Shah Md. Bulbul Islam |
360 |
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Mr. Dr. Shamsuddin Ahmed |
65076 |
|
General Public |
18964800 |
DIRECTORS
|
Name |
Designation |
|
Mr. Shah Abdul Hannan |
Chairman |
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Mr. Prof. A.N.M.A. Zaher |
Managing Director |
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Mr. Commodore (Retd.) M.A. Rahman |
Director |
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Mr. Prof. Dr. A.K.M. Sadrul Islam |
Finance Director |
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Mr. Prof. Dr. Chowdhury Mahmud Hasan |
Director |
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Mr. Prof. Dr. Matiur Rahman |
Director |
|
Mr. Prof. Dr. Shah Md. Bulbul Islam |
Director |
|
Mr. Md. Abdus Salam |
Independent Director |
|
J Mr. b. Abdur Raquib |
Independent Director |
MANAGEMENT
|
Name |
: |
Mr. Md.
Shahid Farooqui |
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Job Description |
: |
Company
Secretary |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Prof. Dr. A. K. M. Sadrul lslam |
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Job Description |
: |
Finance Director |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS OPERATIONS
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Nature of Activity
: |
Manufacturer |
Ö |
Trader |
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Marketing |
Ö |
Distributor |
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Exporter |
Ö |
Importer |
Ö |
Services
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Others |
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Item
Dealings In: |
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Products |
: |
All Types of Pharmaceuticals
Item. |
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Production Capacity |
: |
N/A |
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Last
Year Production |
: |
N/A |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
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Selling Terms : |
L/C |
Ö |
Cash |
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Others |
|
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|||
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Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
DETAILED DATA
|
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 |
: |
Vietnam, Yemen, Cambodia, Myanmar, Sri Lanka. |
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Imports |
: |
China, India, Pakistan, Japan, Indonesia. |
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Brand Name |
: |
N/A |
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Certified |
: |
ISO 9001:2000 |
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Auditors |
: |
Huda Hossain & Co. Chartered Accountants 230, New Elephant Road, (4th Floor) Dhaka-1205, Bangladesh |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk. 50 Crore |
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||||||
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Paid-up
Capital |
: |
Tk. 19, 44,00,000 |
No. of Shares |
: |
19, 440,000 |
Share Value |
: |
Tk.10.0Each |
|
|
Main
Assets |
: |
Tk. 1, 096,432,108 |
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FINANCIAL STATEMENT- DETAILED
|
Balance Sheet : |
||
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|
Currency |
:
Tk. |
|
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Denomination |
: 1 |
|
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Financial Year Ending |
: 31st
December’2013 |
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||
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Income Statement : |
||
|
|
Currency |
:
Tk. |
|
|
Denomination |
: 1 |
|
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Financial Year Ending |
: 31st
December’2013 |
|
|
||
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
Sister Concerns |
: |
IBN Sina Hospital (100 beds) IBN Sina Diagnostic Lab IBN Sina Imaging Centre IBN Sina Consolation Centre IBN Sina Medical Check-Up IBN Sina Medical College IBN Sina Pharmaceuticals Industry |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
IBN Sina Trust |
BANKING
|
Bank Name |
: |
Islami
Bank Bangladesh Ltd. Al-Arafah
Islami Bank Ltd. Prime
Bank Ltd First
Security Islami Bank Ltd |
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 House # 41, Road # 10/A, Dhanmondi, Dhaka-1209, Bangladesh.
The subject company Secretary Mr. Md. Shahid Farooqui given us all
information. Is situated at Industrial area which is a well decorated modern
office. |
GENERAL COMMENTS
|
The subject company is a well-known reputed company in
Bangladesh. Their Products popular to
the local customers. So day by day
the subject companies increase their goodwill. As well as its financial condition, we recommend that
Credit can proceed promptly Fairly large amount. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.86 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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.