|
Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEGHNA GROUP OF
INDUSTRIES LTD. |
|
|
|
|
Registered Office : |
Fresh Vila, House #15, Road # 34, Gulshan-1, Dhaka-1212 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
15.06.1997 |
|
|
|
|
Com. Reg. No.: |
C-24419 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer, importer
& Distributor of Food grains, Chemicals,
Papers, Salt, Tissue papers, Cement, Oil, Feeds, Sugar, Seed Cursing, Fish
& Poultry, Ship Building Dockyard, Shipping, Securities, General
Insurance as well as Media Aviation.
|
|
|
|
|
No of Employees : |
15000 (200 in Office & 14800 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 |
: |
Meghna Group of
Industries Ltd. |
|
Head
Office |
: |
Fresh Vila, House #15, Road # 34, Gulshan-1,
Dhaka-1212, Bangladesh. |
|
Tel
No |
: |
880-2- 9887545, 9889490, 9884791, 9889306 |
|
Fax
No |
: |
880-2-9884896 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/
Year
of Incorporation |
: |
15.06.1997 |
|
Incorporation No. |
: |
C-24419 |
|
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) |
|
Year |
Turnover/ Sales |
Assets |
Income |
|
July’
11~June’ 12 |
Tk. 5220 Million |
Tk. 1600 Million |
Tk. 125.47 Million |
|
July’
12~June’ 13 |
Tk. 5565 Million |
Tk. 1710.69 Million |
Tk. 142.50 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. D. M. Islam |
|
Designation |
: |
Chief Operating
Officer. |
Locations
Details
|
||
|
|
||
|
Operating
Address |
: |
Fresh Vila, House #15, Road #34, Gulshan-1, Dhaka -
1212, Bangladesh. |
|
Tel
No |
: |
880-2- 9887545, 9889490, 9884791, 9889306 |
|
Fax
No |
: |
880-2-9884896 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
18000 |
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 |
: |
Meghna City,
Meghna Gath, Ps: Sonerghown, Dist: Narayangonj, Bangladesh. |
|
Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
110 |
Acores. |
|
Branches: |
|
|
|
|
|
|
|
Address |
: |
Fresh Cottage, House # 48, Section #3, Garib-E- New Avenue, Uttara, Dhaka-1230,
Bangladesh. |
|
Tel
No |
: |
88-02-7912703, 7912718,7912719 |
|
Fax
No |
: |
88-02-7912381,7912382 |
|
Branches: |
|
|
|
|
|
|
|
Address |
: |
Akhtaruzzaman
Center (9th floor), 21/22, Agrabad C/A, Chittagong, Bangladesh. |
|
Tel
No |
: |
88-031-2519730-32 |
|
Fax
No |
: |
88-031-713749 |
|
Employee: |
|
||||||
|
|
|
||||||
|
No.
of Employees |
In Office |
: |
200 |
In Factory |
: |
14800 |
|
|
In Branch: |
: |
- |
Total
|
: |
15000 |
||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No.
of Share |
|
Mr. Mostafa Kamal |
1210 |
|
Ms. Beauty Akhter |
1210 |
|
Mr. M.S. Kamal |
1200 |
|
Mohammad Zakria |
1210 |
|
Meghna Vegetables Oil Ltd (Representative –
Mr. Mohammad Zakria-Managing Director) |
11 |
|
Bangladesh National Insurance Co. Ltd (Representative –
Mr. Md. Abu Taher-Managing Director) |
11 |
|
Bagdad Vegetables
Oil Ltd. (Representative –
Mrs. Beauty Aktar -Managing Director) |
11 |
|
Mercantile Shipping
Lines Ltd (Representative –
Mr. Md. Mustafa kamal -Managing Director) |
11 |
|
Meghna Pet
Industries Ltd. (Representative Mr.
M.S. Kamal –-Managing Director) |
11 |
|
Meghna Dairy &
food Industries Ltd. (Representative –
Mr. Md. Mustafa kamal -Managing Director) |
11 |
|
Meghna Bricks Pvt.
Ltd. (Representative Mr.
M.S. Kamal –Managing Director & Mr. Md. Kabir Ahmed- Director) |
11 |
|
Meghna Trading
Agency Ltd. (Representative –
Mr. Md. Mustafa kamal -Managing Director) |
11 |
|
Bangladesh
Securities Ltd. (Representative Mr.
M.S. Kamal –Managing Director) |
10 |
|
Meghna Housing Ltd.
(Representative –
Mr. Mohammad Zakria-Managing Director) |
100 |
|
Kamal Trading Co.
Ltd. (Representative –
Mrs. Beauty Aktar -Managing Director) |
10 |
|
Kamal Imports &
Exports Ltd. (Representative –
Mr. Md. Mustafa kamal -Managing Director) |
10 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Mostafa Kamal |
Chairman & Managing Director |
|
Ms. Beauty Akhter |
Director |
|
Mr. M.S. Kamal |
Director |
|
Mr. Mohammad Zakria
|
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. D. M. Islam |
|
Job Description |
: |
Chief Operating
Officer. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
Ö |
Services |
|
Others |
|
|
Item Dealings In: |
||
|
|
||
|
Products |
: |
Food grains, Chemicals, Papers, Salt, Tissue
papers, Cement, Oil, Feeds, Sugar, Seed Cursing, Fish & Poultry, Ship
Building Dockyard, Shipping, Securities, General Insurance as well as Media
Aviation. |
|
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 |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit
: |
|
30
days |
|
60
days |
Ö |
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,
Singapore, Malaysia, |
|
||||||||
|
|
|
||||||||||
|
Brand Name |
: |
N/A |
|||||||||
|
Certified |
: |
N/A |
|||||||||
|
Auditors |
: |
N/A |
|||||||||
|
Operation Status |
: |
Active. |
|||||||||
|
Member |
: |
Dhaka Chamber of Commerce & Industry. |
|||||||||
CAPITAL
STRUCTURE
|
|
||||||||
|
Authorized Capital |
: |
Tk. 10 Million |
|
||||||
|
Paid-up Capital |
: |
Tk. 5, 04,800 |
No. of Shares |
: |
5048 |
Share Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk. 1710.69 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
The subject company
don’t submit update full financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
Tanveer Dal Mill
& Flour Mills Ltd. Meghna Tea Company
Ltd. Tanveer Mustard Oil
Mill and Coconut Oil Mills Ltd. United Sugar Mills
Ltd United Edible Oils
Ltd United Mineral
Water & PET Industries Ltd United Salt
Industries Ltd Tanveer Oils Ltd. Tanveer Food Ltd. Janata Flour &
Dal Mills Ltd. Tasnim Chemical
Complex Ltd. Bagdad Vegetables
Oil Mill Ltd. Meghna Dairy &
food Industries Ltd. Unique Cement
Industries Limited Tanveer Paper Mills
Limited Tanveer Printing
& Packaging Co. Ltd United Fibre
Industries Limited Tanveer Polymeer Industries Limited Unique Power Plant
Limited Everest Power
Generation Co. Limited United Feeds
Limited Tanveer Steel Mills
Limited Mercantile Shipping
Lines Ltd G. Shipping Lines
Limited United Shipping Lines
Ltd. United Dockyard
& Ship Builders Meghna Properties
Limited Everest CNG
Refueling & Conversion Limited Bangladesh National
Insurance Co. Ltd. Surma Mastard Oil
Mills Ltd. Global Ad, Star Bag
Ind. Ltd. Tasnim Condense
Milk Ltd. Dhaka Plastic
Bottle Ind. Ltd. Meghna Pulp &
Paper Mills Ltd. Meghna Aviation
Ltd. Meghna Seeds
Crushing Ltd. Fresh Cement
Industries Ltd. Meghna Ship
Builders & Dockyard Ltd. Unique Hatachery
& Feeds Ltd. Dhaka Securities
Ltd. Tanveer Printing
& Packaging Ind. Ltd. Sonergaon Salt Ind.
Ltd. |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
Meghan Group of
Industries Ltd. |
|
Bank Name |
: |
Sonali Bank Ltd Janata Bank Limited Dutch bangle Bank Limited Prime Bank Limited Uttara Bank Limited BASIC Bank Limited Mutual Trust bank Limited Premier Bank Limited |
|
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 address at Fresh Vila, House #15, Road # 34, Gulshan-1,
Dhaka-1212, Bangladesh. The subject company Chief Operating Officer Mr. D. M.
Islam welcome us & given us all information. Its office is decorated by
normal furniture. |
GENERAL
COMMENTS
|
|
The subject company
is a well-known reputed company in Bangladesh. Their products popular to the local
customers. So day by day the subject
companies increase their goodwill. As well as its financial
condition, we recommend that Credit can proceed promptly Fairly large amount. |
Adopted Abbreviations
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
UK Pound |
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.