MIRA
INFORM REPORT
|
Report Date : |
18.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMBEE PHARMACEUTICALS LIMITED. |
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Registered Office : |
House#01, Road#71, Gulshan-2, Dhaka-1212 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
C-4714 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Manufacturer and Exporter of Tablets, Capsules, liquids, Gel,
Injections |
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No. of Employees : |
969 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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Bangladesh |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
EXECUTIVE
SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
AMBEE PHARMACEUTICALS LIMITED. |
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Head Office |
: |
House#01, Road#71, Gulshan-2, Dhaka-1212, Bangladesh. |
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Tel No |
: |
88-02-9896406, 9896255 |
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Fax No |
: |
880-2-8827777, 9565555 |
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E-mail |
: |
info@ambeepharma.com |
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Website |
: |
www.ambeepharma.com |
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Date/ Year of Incorporation |
: |
1997 |
|
Incorporation No. |
: |
C-4714 |
|
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)
________________ |
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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 |
|
31st December’2011 |
Tk. 271, 506,761 |
Tk. 282, 497,803 |
Tk. 10, 673,448 |
|
31st December’2012 |
Tk. 281, 084,880 |
Tk. 278,833,632 |
Tk. 10, 025,406 |
|
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 |
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FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. A. B. M. Mazharul Hasan |
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Designation |
: |
Chief Financial Officer. |
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Contract No |
: |
- |
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Locations Details |
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Operating Address |
: |
House#01, Road#71, Gulshan-2, Dhaka-1212, Bangladesh. |
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Tel No |
: |
88-02-9896406, 9896255 |
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Fax No |
: |
880-2-8827777, 9565555 |
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E-mail |
: |
info@ambeepharma.com |
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Website |
: |
www.ambeepharma.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
2200 |
Sq. ft. |
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Type of Office :
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: Commercial Office Bldg. |
Ö |
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Semi-commercial office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory: |
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Address |
: |
184/1, Tejgoan Industrial Area, Dhka-1208,
Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
2 |
Acores |
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Branches: |
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Bogra: |
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Address |
: |
4/19, Sutrapur, Jaleswari Tala, Bogra,
Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Branches: |
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Chittagong: |
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Address |
: |
Zeenat Center (1st Floor), 100, East Nasirabad,
Chittagong-4203, Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Branches: |
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Khulna: |
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Address |
: |
47, Khan Jahan Ali Road, Khulna,
Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Branches: |
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Sylhet: |
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Address |
: |
House#23, Road #4, Housing Street,
Ambarkhana, Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of
Employees |
In Office |
: |
29 |
In Factory |
: |
940 |
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In Branch: |
: |
- |
Total |
: |
969 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
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Sponsor, Director and Associates |
1295958 |
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ICB (Investment Corporation of Bangladesh) |
94030 |
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Foreign Investors |
178992 |
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CDBL |
362470 |
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General Public |
68550 |
DIRECTORs
|
Name |
Designation |
|
Mr. Aziz mohammad Bhai |
Chairman |
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Mrs. Naureen Aziz M. Bhai |
Managing Director |
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Mrs. Sakina Miraly |
Director |
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Mr. A. F. M. Azim |
Independent Director |
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Mr. Laszlo Nemes |
Director |
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Ms. Georgina Gurber |
Director |
MANAGEMENT
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Name |
: |
Mr. A. B. M. Mazharul Hasan |
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Job Description |
: |
Chief Financial Officer. |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Md. Saiful Islam |
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Job Description |
: |
Company secretary. |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Range of
Products: |
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Products |
: |
Tablets, Capsules, liquids, Gel, Injections |
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Production
Capacity |
: |
Tablets
– 400 Million Pcs Per year Capsules
- 44 Million Pcs Per year Injection
- 10 Million Pcs Per year Dry syrup
- 01.20 Million Pcs Per year Liquid Products
- 13 Million Pcs Per year Cream, Ointments & Gel - 01
Million Pcs Per year Sugar coated products -
105 Million Pcs Per year |
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Last Year
Production |
: |
Do. |
Trading Terms:
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Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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|
days |
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Selling
Terms : |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
|
30 days |
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60 days |
Ö |
90 days |
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|
days |
DETAILED DATA
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
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Trade Markets |
: |
Exports |
: |
Srilanka, Kenai, Macau, Somalia, Myanmar, Vietnam |
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Imports |
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China, India, Pakistan, Thailand, Germany. |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
M/S. Sarwar Salamat & Co. Chartered Accountants House# 42 (1st Floor), Road# 1, Block# A, Niketon, Gulshan-1, Dhaka-1212. |
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Operation Status |
: |
Active. |
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Member |
: |
Dhaka Chamber of Commerce & Industry. |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk. 25, 000,000 |
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Paid-up
Capital |
: |
Tk. 20, 000,000 |
No. of Shares |
: |
2, 000,000 |
Share
Value |
: |
Tk.10.00Each |
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Main
Assets |
: |
Tk. 278,833,632 |
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FINANCIAL STATEMENT- DETAILED
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The subject company don’t submit update financial figure to local
registry office. |
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Balance Sheet : |
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Currency |
: Tk. |
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Denomination |
: 1 |
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Financial Year Ending |
: 31st
Dec’2012 |
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Income Statement
: |
||
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Currency |
: Tk |
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Denomination |
: 1 |
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Financial Year Ending |
: 31st
Dec’2012 |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
Sister Concerns |
: |
Ambee Limited Ambee Electronics Ltd Ambee Films Limited. Ambee Apparels Ltd. Ambee Stationeries Ltd. Ambee Textile Mills Ltd Ambee Foods Ltd. Ambee Glass Ltd. Ambee Steel Mills Ltd Ambee Haq Jute Export Ltd. Ambee Flour Mills Ltd. Ambee Mohan Exports Limited |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Ambee Group. |
BANKING
|
Bank Name |
: |
Eastern Bank Ltd.
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Bank Address |
: |
Gulshan Branch, 31 North C/A, Road 53, Circle 2 Fax: 02 9882316 Phone: 02 8860381, 04476 325 325 Gulshan, Dhaka. |
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Bank Name |
: |
National Bank of Pakistan |
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Bank Address |
: |
79, Motijheel C/A, Dhaka-1000, Bangladesh. |
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Bank Name |
: |
Agarini Bank Ltd.
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Bank Address |
: |
Amin Court Corporate Branch, 62-63 Motijheel C/A, Dhaka-1000, Bangladesh. |
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Bank Name |
: |
United Commercial Bank Ltd.
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Bank Address |
: |
Corporate Branch, Plot No. CWS (A)-1, Road No. 34, Gulshan-1, Dhaka-1212, Bangladesh. |
ADVERSE DATA MONITORING
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Dishonored
Checks |
: |
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance
Defaults |
: |
No Record Found |
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Adverse Local
Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE VISIT COMMENTARY
|
Our Representative Visited the subject company address at House#01, Road#71,
Gulshan-2, Dhaka-1212, Bangladesh. The subject company Chief Financial
Officer Mr. A. B. M. Mazharul Hasan welcome us & given us all
information. Its office is decorated by western furniture. |
GENERAL COMMENTS
|
Subject is mainly engaged in Manufacturer & Exporter of
Pharmaceuticals. The subject company maintains acceptable business volume. Based on the financial statements, SC’s financial performance appears
to be above average. Having been in operation for several years, Subject
enjoys some recognition and impact in the line. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.