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Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
TAZAN AGRO LIMITED |
|
|
|
|
Registered Office : |
Al-Madina (1st
Floor), Hathazari Road, Raj memorial School Gate, Baluchara,
Chittagong-4214 |
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|
Country : |
Bangladesh |
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Date of Incorporation : |
16.02.2005 |
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Com. Reg. No.: |
CH-5337 |
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Legal Form : |
Private Company |
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Line of Business : |
· Distributor & Importer of Agro Products & Animal Health Medicine ·
Engaged in marketing
of Nutritional Supplements,
Feed Additives, Animal Health Products, Disinfectant, Medicated Premix,
Organic Acid, Vitamins, Pellet Binder, Mineral Premix, Amino Acids, Non
Medicated Additives, Coccidiostatics, Enzymes, Vegetal Products, Protein and
Growth Promoter. |
|
|
|
|
No of Employees : |
60 (35 in Office & 25 in Warehouse) |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Bangladesh |
A2 |
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
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|
Correct
company Name |
: |
Tazan Agro Limited |
|
Head
Office |
: |
Al-Madina (1st
Floor), Hathazari Road, Raj memorial School Gate, Baluchara, Chittagong-4214, Bangladesh. |
|
Tel
No |
: |
88-031-682739, 01819848185, 01730047406 |
|
Fax
No |
: |
Nil |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date
of Incorporation |
: |
16.02.2005 |
|
Incorporation No. |
: |
CH-5337 |
|
Legal
Form (General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole
Proprietorship 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’ 12~June’ 13 |
BDT 195 Million |
BDT 24.35 Million |
BDT 3.86 Million |
|
July’ 13~June’ 14 |
BDT 147 Million |
BDT 28.93 Million |
BDT 6.61 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
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||
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Name |
: |
Mr. Alamgir |
|
Designation |
: |
Business
Department Manager |
Locations
Details
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Operating
Address |
: |
Al-Madina (1st
Floor), Hathazari Road, Raj memorial School Gate, Baluchara, Chittagong-4214, Bangladesh. |
|
Tel
No |
: |
88-031-682739, 01819848185, 01730047406 |
|
Fax
No |
: |
Nil |
|
E-mail |
: |
|
|
Website |
: |
|
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Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
1500 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
|
|
Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
Ö |
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Business Center |
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Home Office |
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Residential
Bldg. |
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Warehouse: |
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|
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|
Address |
: |
Al-Madina (1st
Floor), Hathazari Road, Raj memorial School Gate, Baluchara, Chittagong-4214, Bangladesh. |
|
Tel
No |
: |
N/A |
|
Fax
No |
: |
N/A |
|
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
4500 |
Sq. ft. |
|
Employee: |
|
||||||
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No. of Employees |
In Office |
: |
35 |
Warehouse |
: |
25 |
|
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In Branch: |
: |
- |
Total
|
: |
60 |
||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Mrs. Farhana Akhter |
300 |
|
Mr. Jahangir Kabir |
700 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mrs. Farhana Akhter |
Chairman |
|
Mr. Jahangir Kabir |
Managing Director |
MANAGEMENT
|
||
|
Name |
: |
Ms. Farhana Akhter |
|
Job Description |
: |
Chairman |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01730047401 |
|
|
|
|
|
Name |
: |
Mr. Alamgir |
|
Job Description |
: |
Business Department
Manager |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
· Distributor & Importer of Agro Products & Animal Health Medicine
·
Engaged in marketing of Nutritional Supplements, Feed Additives, Animal Health Products,
Disinfectant, Medicated Premix, Organic Acid, Vitamins, Pellet Binder, Mineral
Premix, Amino Acids, Non Medicated Additives, Coccidiostatics, Enzymes, Vegetal
Products, Protein and Growth Promoter.
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 |
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|||
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
China, India,
Pakistan, Turkey. |
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Brand Name |
: |
N/A |
|||||||||
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Certified |
: |
N/A |
|||||||||
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Auditors |
: |
N/A |
|||||||||
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Operation Status |
: |
Active |
|||||||||
|
Member |
: |
N/A |
|||||||||
CAPITAL
STRUCTURE
|
|
||||||||
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Authorized Capital |
: |
BDT 10 Million |
|
||||||
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Paid-up Capital |
: |
BDT1, 00,000 |
No. of Shares |
: |
1000 |
Share Value |
: |
BDT 100.00Each |
|
|
Main Assets |
: |
BDT 28.93 Million |
|
||||||
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
F. Rahman Marketing
Tazan Agro
Enterprise F. I Poultry
Complex Ideal Poultry
Complex |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
Tazan Group |
|
Bank Name |
: |
Social Islami Bank
Ltd. |
|
Bank Address |
: |
Agrabad Branch 103, Agrabad C/A,
Chittagong. Ph: 031-714041,
713947,714504. Fax: 031-710084 |
|
|
||
|
Bank Name |
: |
Mutual Trust Bank
Ltd. |
|
Bank Address |
: |
Agrabad Branch Akhtaruzzaman
Centre 21-22 Agrabad C/A,
Chittagong. Ph.: 031-2523287,
031-2524269, 031-2510754,
031-716487 |
|
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 Hathazari Road,
Baluchara, Al-Madina (1st Floor), Chittagong-4214, Bangladesh. The subject
company Business Department Manager Mr. Alamgir given us all
information. It is situated at
Industrial area which is a well decorated modern office. |
GENERAL
COMMENTS
|
|
Subject is mainly
engaged in Importer & Distributor. The subject company maintains
acceptable business volume. Based on the
financial statements, SC’s financial performance appears to be above Fair. |
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
UK Pound |
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.