MIRA INFORM REPORT

 

 

Report Date :

02.12.2014

 

IDENTIFICATION DETAILS

 

Name :

GLOBEX PHARMACEUTICALS LTD

 

 

Registered Office :

17/1/8, Tolar Bagh (Ground~2nd floor), Mirpur-1, Dhaka

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

23.10.2012

 

 

Legal Form :

Public [But Not Listed]

 

 

Line of Business :

Manufacturer and Distributor of Pharmaceutical Products And Drugs.

 

 

No of Employees :

380

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but correct

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 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Bangladesh

B1

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

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

 

Correct company Name

:

GLOBEX PHARMACEUTICALS LTD

Head Office

:

17/1/8, Tolar Bagh (Ground~2nd floor), Mirpur-1, Dhaka, Bangladesh.

Tel No

:

88-02-9003217

Fax No

:

Nil

E-mail

:

Globex_pharma@yahoo.com

Website

:

Nil

Date/ Year of Incorporation

:

23.10.2012

Incorporation No.

:

C-23228

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’ 13~June’ 14

BDT 228 Million

BDT36.25 Million

BDT 8.92 Millioon

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. Sultan Mahmud

Designation

:

Commercial Manager

Contract No

:

 

 

 

Locations Details

 

Operating Address

:

17/1/8, Tolar Bagh (Ground~2nd floor), Mirpur-1, Dhaka, Bangladesh.

Tel No

:

88-02-9003217

Fax No

:

Nil

E-mail

:

Globex_pharma@yahoo.com

Website

:

Nil

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

4200

Sq. ft.

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

Ö

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Kamalpur(Pagla), Fatullah Narayangonj, Bangladesh

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

40,000

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

26/2, Principal Abul Kashem Road (Former Darussalam Road), Mirpur-1,

Dhaka-1216, Bangladesh

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

150

In Factory

:

230

In Branch:

:

 

Total

:

380

Details:

 

                    

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Delta Hospital Ltd.

4420000

Dr. Syed Mukarram Ali

413335

Mr. Nurul Huda

443335

Mr. Mir Amjad Hussain

473335

Mrs. Nazmin Showkat Ali

473335

Dr. Nasir Uddin Ahmed

413335

Mr. Fahim Ahmed Faruk Chowdhury

413335

Mr. A.Q M Nurul Absar

413335

Mr. A.S.A Muiz

413335

Mr. Habibur Rahman

413335

Mr. Zainul Huda

413335

Mrs. Rashida Islam

201475

Mr. Nazmul Huda Choudhury

117059

Dr. Mohammad Raushan Ali

58764

Dr. Mohd. Showkat Ali

70620

Mst. Khairun Nesa

35310

Mrs. Rokeya Begum

35310

Mrs. Fatima Khatun

35310

Mst. Meherun Nesa

35310

 

DIRECTORS

 

Name

Designation

Dr. Syed Mukarram Ali

Chairman & Managing Director

Mr. Nurul Huda

Director

Mr. Mir Amjad Hussain

Director

Mrs. Nazmin Showkat Ali

Director

Dr. Nasir Uddin Ahmed

Director

Mr. Fahim Ahmed Faruk Chowdhury

Director

Mr. A.Q M Nurul Absar

Director

Mr. A.S.A Muiz

Director

Mr. Habibur Rahman

Director

Mr. Zainul Huda

Director

Mrs. Rashida Islam

Director

 

MANAGEMENT

 

Name

:

Mr. Sultan Mahmud

Job Description

:

Commercial Manager

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Shoab Ahmad

Job Description

:

Manager

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

Range of Products/Item Dealings In:

 

Products

:

Pharmaceutical Products And Drugs.

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

 

Others

 

 

 

Credit :

Ö

30 days

 

60 days

Ö

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

:

China, India

 

 

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

Nil

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

BDT100,00,00,000

 

Paid-up Capital

:

BDT 9,29,25,080

No. of Shares

:

9292508

Share Value

:

BDT 10.00Each

Main Assets

:

BDT36.25 Million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subsidiary

:

Nil

Name of  The Group

:

Nil

 

ASSOCIARES/SUBSIDIARIES/RELATED PARTIES

 

Sister Concerns

:

Delta Hospital Limited

 

 

BANKING

 

 

Bank Name  

:

Basic Bank Ltd.

Bank Address

:

Dhanmondi Branch

54, Manna's Tower (1st floor), Road # 4/A,

Satmasjid Road, Dhanmodi R/A, Dhaka-1209

Tel: 02-9666912, 9614892

Fax: 02-9676156/101

E-mail: dhanmondi@basicbanklimited.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 address which is situated at Kamalpur(Pagla), Fatullah Narayangonj, Bangladesh. It is situated at industrial area & their factory location nice to do such kind of work.

 

GENERAL COMMENTS

 

SC is considered medium-sized in its line of business. A credit line up to USD 40,000 would appear to be within SC’s capacities.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.14

UK Pound

1

Rs.97.05

Euro

1

Rs.77.37

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

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.