MIRA INFORM REPORT

 

 

Report Date :

03.01.2014

 

IDENTIFICATION DETAILS

           

Name :

NOURISH GRAND PARENT LIMITED

 

 

Registered Office :

Takia Center (4th Floor), Plot#39, Sonargaon Janapath Road, Sector# 7, Uttara, Dhaka-1230

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

25.12.2006

 

 

Com. Reg. No.:

C-64957

 

 

Legal Form :

Private Company

 

 

Line of Business :

Engaged in breeding Parent Stock Like Cobb-500 PS  

 

 

No. of Employees :

125

 

 

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, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Bangladesh - ECONOMIC OVERVIEW

 

In real terms Bangladesh's economy has grown 5.8% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, and slow implementation of economic reforms. Bangladesh remains a poor, overpopulated, and inefficiently-governed nation. Although more than half of GDP is generated through the service sector, 45% of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Bangladesh's growth was resilient during the 2008-09 global financial crisis and recession. Garment exports, totaling $12.3 billion in FY09 and remittances from overseas Bangladeshis, totaling $11 billion in FY10, accounted for almost 12% of GDP.

 

Source : CIA

 

 

 

 

 

IDENTIFICATION DETAILS

 

Correct company Name

:

Nourish Grand Parent Limited

Head Office

:

Takia Center (4th Floor), Plot#39, Sonargaon Janapath Road, Sector# 7, Uttara, Dhaka-1230, Bangladesh.                                    

Tel No

:

88-02-7913023-7, 01711590389

Fax No

:

88-02-7913022 

E-mail

:

info@khaled-group.com  

nourish@dhaka.net

Website

:

www.nourish-poultry.com

Date/ Year of Incorporation

:

25.12.2006

Incorporation No.

:

C-64957 

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)

 

Comment for Address Change

:

The subject company changed their address of Genetic Plaza, House#18(Old#404), Road#16 (Old#27), Shek Kamal Shorini, Dhanmondi, Dhaka-1209, Bangladesh.

 

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

     Income

     2011

Tk. 177 Million

Tk. 17.5 Million

Tk. 3.15 Million

     2012

Tk. 185 Million

Tk. 18 Million

Tk. 3.62 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. Ruhul Amin

Designation

:

Senior Manager Finance

Contract No

:

N/A

 

Locations Details

 

Business Address

:

Takia Center (4th Floor), Plot#39, Sonargaon Janapath Road, Sector# 7, Uttara, Dhaka-1230, Bangladesh.                                  

Tel No

:

88-02-7913023-7, 01711590389

E-mail

:

88-02-7913022 

Fax No

:

info@khaled-group.com 

nourish@dhaka.net 

Website

:

www.nourish-poultry.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

 

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

 

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

Farm Address:

 

 

 

 

 

Address

:

Panchagarh, Buratha, Rangpur, Bangladesh.

Tel No

:

N/A

Fax No

:

N/A

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

52000

Sq. ft.

 

 

Branches:

 

 

 

 

 

Address

:

N/A

Tel No

:

N/A

Fax No

:

N/A

 

Location :

Owned

 

 

Rented

 

 

Leased

 

Area

 

Sq. ft.

 

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

20

In Factory

:

105

In Branch:

:

 

Total

:

125

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Nazmul Ahshan Khaled

                                     2000

Mr. Saidus Salehin Khaled

                                     2000

Mr. Shamsul Arefen Khaled

                                     2000

Mr. Shiful Arefen Khaled

                                     2000

Shahina Ferdous Khaled

                                     2000

 

 

DIRECTORS

 

Name

Designation

Mr. Nazmul Ahshan Khaled

Managing Director   

Mr. Saidus Salehin Khaled

Director

Mr. Shamsul Arefen Khaled

Director

Mr. Shiful Arefen Khaled

Director

Shahina Ferdous Khaled

Director

 

 

MANAGEMENT

 

Name

:

Mr. Ruhul Amin

Job Description

:

Senior Manager Finance

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

Business operations

 

Nature of Activity       :

Manufacturer

 

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

 

Importer

 

Services

 

Breeder

Ö

 

Item Dealings In:

 

Products

:

Parent Stock Like Cobb-500 PS.    

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

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

:

China, India.

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

Nil

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk. 10 Million

 

Paid-up Capital

:

Tk. 10,00,000

    No. of Shares

:

10000

Share Value

:

Tk.100.00Each

Main Assets

:

Tk. 18 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Nourish Poultry & Hatchery Ltd.

Artisan Enterprise Ltd.

Nourish Feeds Ltd.

Nourish Agro Products Ltd.

Nourish Grant Parent Ltd.

Telnet Communication Ltd.

Bass Computronics Ltd.

Moonlight Garments Limited

Ehsan Garments Ltd.

Mohammadi Navigation Ltd.

Engineering Enterprise Ltd.

Khaled Shipping Lines Ltd.

Webware

Mapwork 

Subsidiary

:

Nil

Name of  The Group

:

Khaled Group of Companies

 

 

BANKING

           

Bank Name  

:

Shahjalal Islami Bank Ltd.

                                                                                   

Bank Address

:

Dhaka Main Branch

58 Dilkusha C/A, Dhaka-1000

Phone: 02-9570795-8, 9570805

Fax: 02-9556011

Email: sblmain@shahjalalbank.com.bd

 

Bank Name  

:

Islami Bank Bangladesh Ltd.

                                                                        

Bank Address

:

Dhanmondi Branch,

Nilu Squire, Sat Masjid Road,

Dhanmondi R/A, Dhaka-1209

Phone: (02) 9125316, 9129333

Mobile: 01711-693937, 01714-093290

Email: dhanmondi@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

 

The Subject Company is a private limited company engaged in. The subject company is financially solvent & gets good support from their banks. It’s a sister concern of Khaled Group of Companies.

 

Mr. Nazmul Ahshan Khaled-Managing Director & CEO of the company. He is a very experienced businessman in this line of trade.

 

They changed this address “House #404, Genetic Plaza 2nd floor Rd no #27 (old) Dhanmondi, Dhaka-1209, Bangladesh.”

 

We checked the local registry office & found that information’s.

 

The subject company is ok for normal business engagement.

 

 

GENERAL COMMENTS

 

Repeated attempts to obtain and verify information from SC were unsuccessful as they declined all information citing confidentiality. Please note that our credit rating is based on information gathered from external sources as well as information obtained from past interviews.

 

Adopted Abbreviations:

NA- Not Available

 TK- Bangladeshi Taka

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.90

UK Pound

1

Rs.102.74

Euro

1

Rs.85.16

 

INFORMATION DETAILS

 

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.