MIRA INFORM REPORT

Report Date :

27.06.2014

IDENTIFICATION DETAILS

Name :	DEEPA FOOD PRODUCTS LTD.
Registered Office :	115/7 A, Distillary Road, Gandaria, Dhaka-1204
Country :	Bangladesh
Date of Incorporation :	18.10.2003
Com. Reg. No.:	C-50804
Legal Form :	Private Company
Line of Business :	Importer, Refinery & Distributor of Consumer Oil such as Refined Soyabean & Palm Olein
No of Employees :	220 (20 In Office & 200 In Factory)

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
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 holdings

Source : CIA

IDENTIFICATION DETAILS
Correct Company Name	:	Deepa Food Products Ltd.
Head Office	:	115/7 A, Distillary Road, Gandaria, Dhaka-1204, Bangladesh.
Tel No	:	88-02-7440527, 7441537
Fax No	:	Nil
E-mail	:	corporate@citygroupbd.com grainmark@citygroupbd.com marketing@citygroupbd.com
Website	:	www.citygroup.com.bd
Year of Incorporation	:	18.10.2003
Incorporation No.	:	C-50804
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)

FINANCIALS- SUMMARY
Year	Turnover/ Sales	Assets	Income
July’ 11~June’ 12	Tk. 381 Million	Tk. 155.25 Million	Tk. 11.24 Million
July’ 12~June’ 13	Tk. 432 Million	Tk. 161.04 Million	Tk. 14.52 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. Jahidul Alam
Designation	:	Executive Officer

Locations Details
Operating Address	:	115/7 A, Distillary Road, Gandaria, Dhaka-1204, Bangladesh.
Tel No	:	88-02-7440527, 7441537
Fax No	:	Nil
E-mail	:	corporate@citygroupbd.com grainmark@citygroupbd.com marketing@citygroupbd.com
Website	:	www.citygroup.com.bd

Location :

: Owned

Ö

Rented

Leased

Area

3100

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	:	Uttar Rupshi, Rupgonj, Narayanganj, Bangladesh.

Location :

Owned

Ö

Rented

Leased

Area

62000

Sq. ft.

Employee:
No. of Employees	In Office	:	20	In Factory	:	200
	In Branch:	:	-	Total	:	220
Details:

OwNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share
Ms. Shampa Rahman	75000
Ms. Razia Sultana	75000

DIRECTORS
Name	Designation
Mr. Fazlur Rahman	Managing Director
Ms. Shampa Rahman	Director
Ms. Razia Sultana	Director

MANAGEMENT
Name	:	Mr. Sirajul Haque
Job Description	:	General Manager
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Jahidul Alam
Job Description	:	Executive Officer
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :	Refinery	Ö	Trader		Dealer	Distributor	Ö
	Exporter		Importer	Ö	Services	Others

Item Dealings In:
Products	:	Consumer Oil such as Refined Soyabean & Palm Olein
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, Taiwan, Singapore, Germany, USA, UK. Indonesia, Thailand
Brand Name			:	TEER, JIBON, SUN NATURAL
Certified			:	N/A
Auditors			:	N/A
Operation Status			:	Active
Member			:	Dhaka Chamber of Commerce & Industry

CAPITAL STRUCTURE
Authorized Capital	:	Tk. 200 Million
Paid-up Capital	:	Tk. 15, 00,00,000	No. of Shares	:	1, 50, 000	Share Value	:	Tk.1000.Each
Main Assets	:	Tk. 161.04 Million

FINANCIAL STATEMENT- DETAILED

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

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Sister Concerns	:	City Rerolling Mills City Vegetable Oil Mills Limited City Fibers Limited City Sugar Industries Hasan Flour Mills Limited Hasan Printing & Packaging Industries Limited Hasan Containers Limited City PET Industries Limited Shampa Oil Mills Limited Farzana Oil Refineries Limited City Dal Mills Limited City Dal Mills Limited City Dal Mills Limited Grainmark Rahman Synthetics Limited Deepa Food Products Limited VOTT Oil Refineries Limited City Hair Oil Limited City Feed Products Ltd. City Seed Crushing Industries Ltd. City Salt Industries Ltd Hasan Plastic Industries Limited City Group City Group of Industries. City Sugar Industries Ltd. City Oil Mills Ltd.
Subsidiary	:	Nil
Name of The Group	:	City Group of Industries

BANKING

Bank Name	:	Janata Bank Ltd.
Bank Address	:	Gandaria Branch 110, Destelari Road Dhaka-1204 Phone: 7410061
Bank Name	:	Jamuna Bank Limited
Bank Address	:	Head office Branch 3, Dilkusha C/A, Dhaka - 1000, Bangladesh Tel: 9570912, 9555141, Ext. 130 Fax: 880-2-9565762

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, Distillary Road, Gandaria, Dhaka-1204, Bangladesh. The subject company Executive Officer Mr. Jahidul Alam given us all information. Is situated at Residential area which is a well decorated modern office.

GENERAL COMMENTS

Established in Oct. 2003, Subject is mainly engaged in Importer, Refinery & Distributor. Having been in operation for several years, Subject maintains acceptable business volume.

Subject enjoys some recognition and impact in the line.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.16
UK Pound	1	Rs.102.23
Euro	1	Rs.82.04

INFORMATION DETAILS

Analysis Done by :	SUB
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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.