MIRA INFORM REPORT

 

 

Report Date :

07.07.2014   

 

IDENTIFICATION DETAILS

 

Name :

CITY GROUP OF INDUSTRIES

 

 

Registered Office :

115/7-A, Distilary Road, Gandaria, Dhaka-1204

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

02.06.1972

 

 

Legal Form :

Not Available

 

 

Line of Business :

Subject is engaged in manufacturer, marketing & suppliers of Refined Soyabean Oil, Refined Palm Olein, Super Refined Palm Olein, Mustard Oil, Coconut Oil Vanaspati , Atta, Flour (Maida),Semolina (Suji) Mineral Water, Beans (Daal), Salt , Refined Canola Oil, Sugar ,Poultry & Fish Feed , Soya Mel & Rapeseed Cake

 

 

No. of Employees

16,000

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Bangladesh

B1

B1

 

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 holding

 

Source : CIA

 

 

 

Company name and address

 

Correct company Name

:

CITY GROUP OF INDUSTRIES

Head Office

:

115/7-A, Distilary Road, Gandaria, Dhaka-1204, Bangladesh.

Tel No

:

880-2-7441537, 7440527, 7444104

Fax No

:

880-2-7441537, 7440527, 7444104

E-mail

:

corporate@citygroupbd.com

grainmark@citygroup.com

Website

:

Nil

Date/ Year of Incorporation

:

02.06.1972

Incorporation No.

:

All Sister concerns are Incorporated.

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. 3.5 Billion

Tk. 3 Billion

Tk. 255 Million

July’ 12~June’ 13

Tk. 4.65 Billion

Tk. 3.51 Billion

Tk. 300 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. Khairul Islam

Designation

:

Commercial (Admin) Officer

Contract No

:

-

 

                                                               Locations Details

 

Operating Address

:

115/7-A, Distilary Road, Gandaria, Dhaka-1204, Bangladesh.

Tel No

:

880-2-7441537, 7440527, 7444104

Fax No

:

880-2-7441537, 7440527, 7444104

E-mail

:

corporate@citygroupbd.com

grainmark@citygroup.com

Website

:

Nil

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

12,500

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-1

:

Rupshi, Rupgong, Narayangong, Bangladesh.

Address-2

:

Gandaria, Sutrapur, Dhaka-1204, Bangladesh.

Address-3

:

Demra, Dhaka Bangladesh.

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

55

Acores

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

300

In Factory

:

15700

In Branch:

:

-

Total

:

16000

Details:

 

                    

 

 

 

Board of Director

 

Name

Designation

Mr.Fazlur Rahman-Patol

Chairman & Managing Director

Mr.Mohammad Hasan

Director

Ms.Farzana Rahmanur Rahman

Director

Ms.Shampa Rahman

Director

 

 

MANAGEMENT

 

Name

:

Mr. Khairul Islam

Job Description

:

Commercial (Admin) Officer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Marketing

Ö

Distributor

 

 

 

 

Exporter

 

Importer

Ö

Suppliers 

Ö

Others

 

 

Range of Products:

 

Products

:

Refined Soyabean Oil, Refined Palm Olein, Super Refined Palm Olein, Mustard Oil, Coconut Oil Vanaspati , Atta, Flour (Maida),Semolina (Suji)

Mineral Water, Beans (Daal), Salt , Refined Canola Oil, Sugar ,Poultry & Fish Feed , Soya Mel & Rapeseed Cake

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, Malaysia, Korea, Pakistan,  Singapore

Germany, USA, UK. Indonesia, Thailand, Taiwan

 

 

 

Brand Name

:

TEER, JIBON, SUN, NATURAL

Certified

:

Nil

Auditors

:

N/A

Operation Status

:

Active

Member

:

 N/A

 

 

 

CAPITAL STRUCTURE

 

Capital Invested

:

Tk. 1 Billion

 Assets

:

Tk. 3.51 Billion

 

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

City Oil Mills Ltd.-Mustrard Oil

City Rerolling Mills Ltd.-MS Rod

City Vegetable Oil Mills Limited -Refined Soyabean & Palm Olein

City Fibers Limited-P.P. Oven Bag

Hasan Plastic Industries Limited- HDPE Containers

Hasan Flour Mills Limited- Atta, Flour & Semolina

Hasan Printing & Packaging Industries Limited-  Paper Carton                                                                                                                                   Hasan Containers Limited- Tin Containers

City PET Industries Limited -  PET Bottle and Mineral Water

Shampa Oil Mills Limited - Mustard Oil

Farzana Oil Refineries Limited- Refined Soyabean & Palm Olein

City Dal Mills Limited- Beans

Grainmark-Indenting

Rahman Synthetics Limited - P.P. Oven Bag

Deepa Food Products Limited -Refined Soyabean & Palm Olei

VOTT Oil Refineries Limited -Refined Soyabean & Palm Olein

 City Hair Oil Limited-Refined Coconut Oil

City Feed Products Ltd.-Poultry & Fish Feed    

City Seed Crushing Industries Ltd.

 Soyameal & Rapeseed Cake

City Salt Industries Ltd- Salt

City Sugar Industries Ltd –Sugar

Subsidiary

:

N/A

Name of  The Group

:

City Group

 

 

BANKING

 

Bank Name  

:

Janata Bank Limited                                                                              

Bank Address

:

Motijheel Branch.

64, Motijheel C/A, Dhaka

Phone : 9571365 (PABX) 9561330 (D) 9564258 (D) 7120331(M)

Email : manager.forex@jamunabank.com.bd

Branch Manager : Masudur Rahman

Manager Designation : Vice President

 

Bank Name  

:

 Jamuna Bank Limited                                                               

Bank Address

:

Dilkusha Branch

33, Dilkusha C/A, Dhaka

Phone : 9565608, 9551419, 9555795

Email : manager.dilkusha@jamunabank.com.bd

Branch Manager : Engr. S. M. Anisuzzaman

Manager Designation : Senior Vice President

 

 

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 115/7-A, Distilary Road, Gandaria, Dhaka-1204, Bangladesh. The subject company Commercial (Admin) Officer Mr. Khairul Islam given us all information. Is situated at Residential area which is a well decorated modern office.

 

 

GENERAL COMMENTS

 

Established in Feb. 1972, Subject is mainly engaged in manufacturer, marketing & suplliers. Having been in operation for several years, Subject maintains acceptable business volume. Subject enjoys some recognition and impact in the line.

 

 

Adopted Abbreviations:

NA- Not Available

 TK- Bangladeshi Taka

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.79

UK Pound

1

Rs.102.66

Euro

1

Rs.81.32

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIS

 

               

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.