|
Report Date : |
31.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLOBE DRUGS LTD. |
|
|
|
|
Registered Office : |
House # 251/L, Road # 13/A, Dhanmondi, R/A, Dhaka-1209 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
28.04.1997 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Medical
equipment , Tables, Capsules, Soft gelatin Formulations, Suspensions, Syrups,
Dry Powder for Suspensions, Topical preparations, Injections both, Liquids
and dry vials covering almost all the therapeutic categories |
|
|
|
|
No of Employees : |
2000 |
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bangladesh |
B1 |
A2 |
|
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 |
: |
GLOBE DRUGS LTD. |
|
Head Office |
: |
House # 251/L, Road # 13/A, Dhanmondi, R/A, Dhaka-1209, Bangladesh. |
|
Tel No |
: |
88-02-8870301-4 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
info@globe-uro.com globe.pl@bdcom.com globepl@yahoo.com hr@globe-uro.com |
|
Website |
: |
www.globe-uro.com |
|
Date/ Year of Incorporation |
: |
28.04.1997 |
|
Incorporation No. |
: |
CH-2610
|
|
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. 315 Million |
Tk. 80 Million |
Tk. 7.37 Million |
|
July’ 12~June’
13 |
Tk. 380 Million |
Tk. 87.84 Million |
Tk. 9.86 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 |
|
FULLCHECK REPORT DETAILS
|
||
|
Information Parted By |
||
|
Name |
: |
Mr. Md. Jasim
Uddin |
|
Designation |
: |
General Manager
(Factory) |
|
Contract No |
: |
- |
Locations Details
|
||
|
Operating Address |
: |
House # 251/L, Road # 13/A, Dhanmondi, R/A, Dhaka-1209, Bangladesh. |
|
Tel No |
: |
88-02-8870301-4 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
globe.pl@bdcom.com bnsaha07@yahoo.com globepl@yahoo.com hr@globe-uro.com |
|
Website |
: |
www.globe-uro.com |
|
Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
5500 |
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 |
: |
BSCIC Industrial Estate, Begumgonj,
Noakhali, Bangladesh. |
|
Tel No |
: |
88-0321-51629, 53339 |
|
Fax No |
: |
88-032-53577 |
|
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
2 |
Acores |
|
Branches1: |
|
|
|
|
|
|
|
Address |
: |
Alipur, Maijdee Road, Begumgonj, Noakhali,
Bangladesh. |
|
Tel No |
: |
88-0321-51125 |
|
Fax No |
: |
88-0321-51829, 51874 |
|
Branches2: |
|
|
|
|
|
|
|
Address |
: |
Plot #3/Ka (New), Tejgon I/A, Dhaka-1208,
Bangladesh. |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
40 |
In Factory |
: |
1960 |
||
|
In Branch: |
: |
- |
Total |
: |
2000 |
|||
|
Details: |
|
|
|
|||||
Ownership/shareholder
|
|
|
Names of Shareholders |
No. of
Share |
|
Mr. Harunur Rashid |
33340 |
|
Mr. Mamunur Rashid |
16665 |
|
Md. Shahiduddin Alamgir |
16665
|
|
Mr. Ahmed Hossain |
16665 |
|
Mr. Serajul Islam |
16665 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Mamunur Rashid |
Managing Director |
|
Mr. Harunur Rashid |
Director |
|
Md. Shahiduddin Alamgir |
Director |
|
Mr. Ahmed Hossain |
Director |
|
Mr. Serajul Islam |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Jasim
Uddin |
|
Job Description |
: |
General Manager
(Factory) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Didarul Alam |
|
Job Description |
: |
Commercial Executive |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01748455434 |
BUSINESS OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
|
Services |
|
Others |
|
|
Item Dealings
In: |
||
|
|
||
|
Products |
: |
Medical equipment , Tables, Capsules, Soft
gelatin Formulations, Suspensions, Syrups, Dry Powder for Suspensions, Topical
preparations, Injections both, Liquids and dry vials covering almost all the
therapeutic categories
|
|
Production Capacity |
: |
N/A |
|
Last Year
Production |
: |
N/A |
|
Purchasing Terms: |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
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 |
BUSINESS OPERATIONS
|
|
|||||||||
|
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, Germany, Japan, USA. |
|
|||||||
|
|
|
|||||||||
|
Brand Name |
: |
N/A |
||||||||
|
Certified |
: |
N/A |
||||||||
|
Auditors |
: |
N/A |
||||||||
|
Operation Status |
: |
Active |
||||||||
|
Member |
: |
Dhaka Chamber of Commerce & Industry |
||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
Tk. 10,00,00,000 |
|
||||||
|
Paid-up Capital |
: |
Tk. 1, 00,00,000 |
No. of Shares |
: |
1, 00,000 |
Share
Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk. 87.84 Million |
|
||||||
FINANCIAL STATEMENT- DETAILED
|
|
The subject company don’t submit update full
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
Globe Biscuits & Dairy Milk Ltd. Globe Soft Drinks Ltd. Globe Agrovet Ltd. Globe Fisheries Ltd. Getex Plastic Ltd. AST Beverage Ltd. |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
Globe Pharmaceuticals Group of Companies Ltd. |
BANKING
|
|
|
|
Bank Name
|
: |
Islami Bank
Bangladesh Ltd.
|
|
Bank Address |
: |
Chowmuhani Branch Rubi Plaza, Bank Road, Chowmuhani, Noakhali Phone: (0321) 53509 Email: bankroad@islamibankbd.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 factory which is situated
at BSCIC Industrial Estate, Begumgonj, Noakhali, Bangladesh. The subject
company General Manager (Factory) Mr. Md. Jasim Uddin given us all
information. Is situated at Industrial Estate which is a well decorated. |
GENERAL COMMENTS
|
|
Whilst interviewed, Mr. Md. Jasim Uddin, General Manager (Factory) 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). |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.