MIRA INFORM REPORT

 

 

Report Date :

06.10.2014

 

IDENTIFICATION DETAILS

 

Name :

RANGS PHARMACEUTICALS LIMITED

 

 

Registered Office :

Rangs Bhaban (Level-5) 117/A, Tejkunipara, Old Airport Road,

Bijoy Sharani, Tejgaon, Dhaka-1215

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

04.08.1987

 

 

Com. Reg. No.:

C-16625

 

 

Legal Form :

Public (but not listed)  

 

 

Line of Business :

Manufacturer & Distributor of Tablet, Capsule, Syrup      

 

 

No. of Employees :

500

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Bangladesh

A2

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

 

 

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

RANGS PHARMACEUTICALS LIMITED

Head Office

:

Rangs Bhaban (Level-5) 117/A, Tejkunipara, Old Airport Road,

Bijoy Sharani, Tejgaon, Dhaka-1215, Bangladesh

Tel No

:

88-01936001526-7, 019361571

Fax No

:

Nil

E-mail

:

hrd@ranksitt.net

Website

:

Nil

Date/ Year of Incorporation

:

04.08.1987

Incorporation No.

:

C-16625

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’ 12~June’ 13

Tk. 355 Million

Tk. 521.50 Million

Tk. 12.97 Million

July’ 13~June’ 14

Tk. 381 Million

Tk. 538.24 Million

Tk.16.05 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

 

 

 

 

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Mohd. Mynul Islam

Designation

:

Head of Sales

Contract No

:

-

           

                                                               Locations Details

 

Operating Address

:

Rangs Bhaban (Level-5) 117/A, Tejkunipara, Old Airport Road,

Bijoy Sharani, Tejgaon, Dhaka-1215, Bangladesh

Tel No

:

88-01936001526-7, 019361571

Fax No

:

Nil

E-mail

:

hrd@ranksitt.net

Website

:

Nil

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

4800

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

:

226, Bir Uttam Mir Shawkat Sarak, Tejgaon I/A, Gulshan Link Road, Dhaka-1208, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

65,000

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

N/A

Tel No

:

N/A

Fax No

:

N/A

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

120

In Factory

:

380

In Branch:

:

-

Total

:

500

Details:

 

                     

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Dr. M. S. Chowdhury

20000

Mr. A. Rouf Chowdhury

250000

Mrs. Zakia Rouf Chowdhury

100000

Mr. Romo Rouf Chowdhury

50000

Mrs. Ummehani Chowdhury

30000

Mrs. Farhana Huq Chowdhury

50000

Mr. Nafees Khundker

50000

Mrs. Sohana Rouf Chowdhury

50000

Mr. Amanullah Chowdhury

25000

Mrs. Sabrina S. Chowdhury

50000

Mrs. Mahrina D. Chowdhury

50000

Mrs. Sabra Y. Chowdhury

25000

Mr. Murshed Sultan Chowdhury

50000

Mr. Makshed Sultan Chowdhury

50000

Mr. Rumee Akhter Hossain

50000

Mrs. Romana Rouf Chowdhury

50000

Mr. Dr. A. S. M. Habibur Rahman

50000

 

 

DIRECTORS

 

Name

Designation

Mr. A. Rouf Chowdhury

Managing Director

Mr. Dr. M. S. Chowdhury

Director

Mrs. Zakia Rouf Chowdhury

Director

Mr. Romo Rouf Chowdhury

Director

Mrs. Ummehani Chowdhury

Director

Mrs. Farhana Huq Chowdhury

Director

Mr. Nafees Khundker

Director

Mrs. Sohana Rouf Chowdhury

Director

Mr. Amanullah Chowdhury

Director

Mrs. Sabrina S. Chowdhury

Director

Mrs. Mahrina D. Chowdhury

Director

Mrs. Sabra Y. Chowdhury

Director

Mr. Murshed Sultan Chowdhury

Director

Mr. Makshed Sultan Chowdhury

Director

Mr. Rumee Akhter Hossain

Director

Mrs. Romana Rouf Chowdhury

Director

Mr. Dr. A. S. M. Habibur Rahman

Director

 

 

MANAGEMENT

 

Name

:

Mr. A. Rouf Chowdhury

Job Description

:

Managing Director

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Mohd. Mynul Islam  

Job Description

:

Head of Sales

Nationality

:

Bangladesh

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

Item Dealings In:

 

Products

:

Tablet, Capsule, Syrup      

Production Capacity

:

Nil

Last Year Production

:

Nil

 

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

:

India, China

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk. 100 Crore

 

Paid-up Capital

:

Tk. 100, 000,000

    No. of Shares

:

10, 00,000

Share Value

:

Tk.100.0Each

Main Assets

:

Tk. 538.24 Million

 

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Rangs Limited

Rangs Motors Limited

Rangs Properties Limited

Rangs Industries Limited

Rangs Workshop Limited

Rancon Motors Limited

Ranks ITT Limited

Ranks Telecom Limited

Ranks Interior Limited

Ranks Real Estate Limited

Shield Security Services Limited

Ranks Steels Limited

Ranks Agro Biotech Limited

Sash Limited

Zest Polymer Limited

Metro Foils Limited

Bank Asia Ltd

Ranks FC Properties Limited

Rancon Motor Bikes Limited

Softex Communication Ltd.

Ranks IT & Telecommunication Ltd.

Bank Asia Ltd.

Dansea Ltd.

Subsidiary

:

Nil

Name of  The Group

:

Rangs Group (Toshiba)/Sea Resources Group

 

 

BANKING

 

Bank Name  

:

Eastern Bank Limited.

Bank Address

:

Sonargaon Road Branch

Rahat Tower (1st Floor), 14   

Sonargaon Road, Dhaka-1000

 

Bank Name  

:

Standard Chartered Bank                                                                                       

Bank Address

:

Main Office,

67 Gulshan Avenue, Gulshan Dhaka-1212

 

 

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 Rangs Bhaban (Level-5) 117/A, Tejkunipara, Old Airport Road, Bijoy Sharani, Tejgaon, Dhaka-1215, Bangladesh. The subject company Head of Sales Mr. Mohd. Mynul Islam had given us all information. It is situated at commercial area which is a well decorated modern office.                                                                                                      

 

 

GENERAL COMMENTS

 

SC is considered medium-sized in its line with fairly stable financial conditions. A credit line up to USD 75,000 would appear to be within SC’s capacities.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.75

UK Pound

1

Rs.100.06

Euro

1

Rs.77.95

 

INFORMATION DETAILS

 

Analysis Done by :

 DIV

 

 

Report Prepared by :

SDA

 

               

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.