MIRA INFORM REPORT

 

 

Report Date :

11.07.2014

 

IDENTIFICATION DETAILS

 

Name :

HEALTHCARE PHARMACEUTICALS LTD.

 

 

Registered Office :

Probashi Kallyan Bhaban (3rd Floor), 71-72 Old Elephant Road, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

02.11.1996

 

 

Com. Reg. No.:

C-31679

 

 

Legal Form :

Private Company  

 

 

Line of Business :

Manufacturer and Exporter of Tablet (Uncoated, Film Coated, Enteric Coated &

Sugar Coated Tablet, Capsule, Powder for Suspension, Topical Preparation      

 

 

No. of Employees :

725

 

 

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 – 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

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

HEALTHCARE PHARMACEUTICALS LTD.

Head Office

:

Probashi Kallyan Bhaban (3rd Floor), 71-72 Old Elephant Road, Dhaka-1000, Bangladesh.

Tel No

:

880-2-9360877, 8311190

Fax No

:

880-2-8311034

E-mail

:

md.halimuzzaman@hplbd.com, info@hplbd.com

masud@hplbd.com

Website

:

www.hplbd.com

Date/ Year of Incorporation

:

02.11.1996

Incorporation No.

:

C-31679

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. 355 Million

Tk. 3210.96 Million

Tk. 43.75 Million

July’ 12~June’ 13

Tk. 435 Million

Tk. 3360.37 Million

Tk. 47.25 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. Liton Ali.

Designation

:

Commercial Staff.

Contract No

:

-

 

                                                               Locations Details

 

Operating Address

:

Probashi Kallyan Bhaban (3rd Floor), 71-72 Old Elephant Road, Dhaka-1000,  

Bangladesh.

Tel No

:

880-2-9360877, 8311190

Fax No

:

880-2-8311034

E-mail

:

md.halimuzzaman@hplbd.com, info@hplbd.com

masud@hplbd.com

Website

:

www.hplbd.com

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

4500

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

:

Gojaria Para, Rejendrapur, Gazipur, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

2.5

Acores.

 

 

Branches:

 

Dhaka Office;

 

 

 

Address

:

Sales Office, Gulfresh Plaza (5th floor), 8 Shahid Selina Parvin Srak Mogbazer, Dhaka-1216, Bangladesh.

Tel No

:

88-02-9360877

Fax No

:

Nil

 

 

 

Branches2:

 

Chittagong Office:

 

 

 

Address

:

House # 15 (ground Floor), Road # 1, O. R, Nizam road, Chittagong.

Tel No

:

88-01977157780, 01977157475

Fax No

:

Nil

 

 

 

Branches3:

 

Bogra Office:

 

 

 

Address

:

480 Noor Mosjid Road, Jaleritala, Bogra, Bangladesh.

Tel No

:

88-01977157727

Fax No

:

Nil

 

 

 

Branches4:

 

Khulna Office:

 

 

 

Address

:

House # 108 (1st Floor), Ward # 24, Road # 8, Nirala R/A, Khulna, Bangladesh.

Tel No

:

88-01977157421

Fax No

:

Nil

 

 

 

Branches5:

 

Comilla Office:

 

 

 

Address

:

S. N. Plaza (3rd Floor), Degree College Road, Dharmapur, Comilla, Bangladesh.

Tel No

:

88-01977157458

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

25

In Factory

:

700

In Branch:

:

-

Total

:

725

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Alauddin Ahmed

10, 29,000

Mrs. Suraya Bilkis

 2, 00,500

Mr. Zillur Rahman

    25,000

Mr. Mokkaram Hossain Liton

   25,000

Mr. Sejaur Rahman Reza

   25,000

Mr. Anwar Kabir Ujjal

  25,000

Mr. Gazi Shaiful Tarique

 25,000

Mrs. Nurun Nahar

     500

Mr. Rezaul Karim Reza

25,000

 

 

DIRECTORS

 

Name

Designation

Mr. Alauddin Ahmed

Chairman & Managing Director

Mrs. Suraya Bilkis

Director

Mrs. Nurun Nahar

Director

 

MANAGEMENT

 

Name

:

Mr. Liton Ali.

Job Description

:

Commercial Manager

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

 

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

 

Item Dealings In:

 

Products

:

Tablet (Uncoated, Film Coated, Enteric Coated &

Sugar Coated Tablet, Capsule, Powder for Suspension,                                      

Topical Preparation      

Production Capacity

:

Compression -250 million tablet Per Year.

Coating -32 Tons of tablets per Year.

Bottle Filiing-103 million tablets per Year.

Blaster Packer -142 million Per Year.

Encapsulation-41 Million capsules per Year.

Last Year Production

:

Do.

 

 

Trading Terms:

 

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

 

 

DETAILED DATA

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

Sri Lanka, Kenai, Macau, Somalia, Nigeria, Belize.        

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

Imports

:

China, Malaysia, India, Pakistan.

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active.

Member

:

Dhaka Chamber of Commerce & Industry.

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk. 20 Crore.

 

Paid-up Capital

:

Tk. 13, 80,00,000

    No. of Shares

:

13, 80,000

Share Value

:

Tk.100.0Each

Main Assets

:

Tk. 3360.37 Million.

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Healthcare Distribution Company.

Subsidiary

:

N/A

Name of  The Group

:

N/A

 

 

BANKING

 

Bank Name  

:

Islami Bank Bangladesh Ltd.

Bank Address

:

Head Office Branch

Islami Bank Tower, 40 Dilkusha C/A, Dhaka-1000

Phone: (02) 9563182, PABX-(02) 9563040

Mobile: 01711693908, 01714034155

Fax: (02) 9564532

Email: hocc@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 Head office which is situated at Probashi Kallyan Bhaban (3rd Floor), 71-72 Old Elephant Road, Dhaka-1000, Bangladesh. The subject company Commercial Manager Mr. Liton Ali given us all information. Is  situated at Commercial area which is a well decorated  modern office

 

 

 

GENERAL COMMENTS

 

Whilst interviewed, Mr. Liton Ali Commercial Manager 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.59.88

UK Pound

1

Rs.102.59

Euro

1

Rs.81.69

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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.