MIRA INFORM REPORT

 

 

Report Date :

27.11.2014

 

IDENTIFICATION DETAILS

 

Name :

SHUVO FEED PROCESSING

 

 

Registered Office :

Jagannath Bhaban ( 4th  Floor), Ward # 4, Holding # 320, Main Road,  Bridge-er-More, Naogaon

 

 

Country :

Bangladesh

 

 

Year of Establishments :

2001

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Manufacturer, Distributor & Importer of Poultry & Fish Feeds     

 

 

No of Employees :

100 (25 in Office & 75 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 :

Slow but Correct

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Bangladesh

B1

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

 

Source : CIA

 

 

 

IDENTIFICATION DETAILS

 

Correct concern Name

:

Shuvo Feed Processing

Head Office

:

Jagannath Bhaban ( 4th  Floor), Ward # 4, Holding # 320, Main Road,

Bridge-er-More, Naogaon, Bangladesh

Tel No

:

 88-0741-62387, 61236

Fax No

:

Nil

E-mail

:

Nil

Website

:

Nil

Date/

Year of Incorporation

:

2001

Tread License No.

:

-

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’ 12~June’ 13

Tk.135 Million

Tk.16.50 million

Tk.5.53 Million

July’ 13~June’ 14

Tk.172 Million

Tk.21.63 Million

Tk.7.05 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. Rajen Agarwal

Designation

:

CEO

Contact No

:

88-01761491407

 

 

Locations Details

 

Business Address

:

Jagannath Bhaban ( 4th  Floor), Ward # 4, Holding # 320, Main Road,

Bridge-er-More, Naogaon, Bangladesh

Tel No

:

 88-0741-62387, 61236

Fax No

:

Nil

E-mail

:

Nil

Website

:

Nil

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

1100

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

:

Jagannath Nagar, Dupchanchia, Bogra, Bangladesh

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

25,000

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

N/A

Fax No

:

N/A

 

Location :

Owned

 

 

Rented

 

 

Leased

 

Area

 

Sq. ft.

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

25

In Factory

:

75

In Branch:

:

 

Total

:

100

 

 

PROPRIETOR/PARTNERS

Names of Proprietor

               

:

 

Ms. Dip Agarwal

 

 

 

MANAGEMENT

 

Name

:

Mr. Rajen Agarwal

Job Description

:

CEO

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01761491407

 

 

 

Name

:

Mr. Subash Poddar

Job Description

:

Manager

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

01761491409

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

Ö

Services

 

Others

 

 

Range of Products/Item Dealings In:

 

Products

:

 Poultry & Fish Feeds     

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

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

 N/A

Operation Status

:

Active

Member

:

 N/A

 

CAPITAL STRUCTURE

 

Capital Invested

:

Tk.  10Million

 Assets

:

Tk.21.63 Million

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

J. N. Industries Ltd.

Subsidiary

:

N/A

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

Prime Bank Ltd.

Bank Address

:

Naogaon Branch,

 Jagannath Bhaban (2nd & 3rd Floor) ,

 Ward # 4, Holding # 320, Main Road,

 Bridge-er-More, Naogaon,

 Tel: 88-0741-62150, 0741-62151

 Mobile: 017-11736400

 Fax: 88-0741-62152

 

Bank Name  

:

Mercantile Bank Ltd.

Bank Address

:

Naogaon Branch,

Main Road, Chakdev, Naogaon. Bangladesh

Phone: 88-(0741) 63331, 69181, 69182

Fax: 88-0741-63230

Mobile: 01714-063430

 

 

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 concern head Office which is situated at Jagannath Bhaban (4th Floor), Ward # 4, Holding # 320, Main Road, Bridge-er-More, Naogaon, Bangladesh. It is situated at commercial area & their office is situated madden of the town.

 

 

GENERAL COMMENTS

 

The subject concern is a well-known reputed concern 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 may proceed in moderate amounts.

 

 

Adopted Abbreviations:

NA- Not Available

 TK- Bangladeshi Taka

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.87

UK Pound

1

Rs.97.23

Euro

1

Rs.77.21

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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%)

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.