|
Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
TASNIM CONDENSED MILK LIMITED |
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Registered Office : |
Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212 |
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Country : |
Bangladesh |
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Date of Incorporation : |
15.10.2009 |
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Com. Reg. No.: |
C-81028 |
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Legal Form : |
Private Co |
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Line of Business : |
Manufacturer, Distributor & Importer of Condensed Milk. |
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No. of Employees : |
800 |
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 |
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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 |
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IDENTIFICATION DETAILS |
||
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|
||
|
Correct company Name |
: |
TASNIM CONDENSED MILK LIMITED |
|
Head Office |
: |
Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212, Bangladesh. |
|
Tel No |
: |
88-02-9887545, 9889490. |
|
Fax No |
: |
88-02-9884896 |
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E-mail |
: |
info@meghnagroup.biz |
|
Website |
: |
www.meghnagroup.biz |
|
Date/ Year of Incorporation |
: |
15.10.2009 |
|
Incorporation No. |
: |
C-81028 |
|
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’
12~June’ 13 |
Tk. 455
Million |
Tk. 32.75
Million |
Tk. 18.20
Million |
|
July’
13~June’ 14 |
Tk. 591
Million |
Tk. 39.80
Million |
Tk. 23.64
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 |
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Information Parted By |
||
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Name |
: |
Mr. Zoynul Adedeen |
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Designation |
: |
Senior Deputy General Manager |
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Contract No |
: |
- |
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Locations Details |
||
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Operating Address |
: |
Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212, Bangladesh |
|
Tel No |
: |
88-02-9887545, 9889490. |
|
Fax No |
: |
88-02-9884896 |
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E-mail |
: |
info@meghnagroup.biz |
|
Website |
: |
www.meghnagroup.biz |
|
Location : |
: Owned |
Ö |
|
Rented |
|
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Leased |
|
Area |
4000 |
Sq. ft. |
|
Type of Office : |
: 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 |
: |
Meghna Ghat, Sonargoan, Narayangonj, Bangladesh |
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Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
75000 |
Sq. ft. |
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Branches: |
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Address |
: |
Fresh Cottage, House# 48, Garib-E-Newaz Avenue, Sector#13, Uttara, Dhaka-1230, Bangladesh |
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Tel No |
: |
88-02-7912703, 7912718, 7912719. |
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Fax No |
: |
88-02-7912381, 7912382. |
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Employee: |
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No. of Employees |
In Office |
: |
30 |
In Factory |
: |
770 |
||
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In Branch: |
: |
- |
Total |
: |
800 |
|||
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Details: |
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|||||
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Names of Shareholders |
No. of Share |
|
Mr. Mostofa Kamal |
1000 |
|
United Sugar Mills Ltd |
1000 |
|
Name |
Designation |
|
Mr. Mostofa Kamal |
Managing Director |
|
Mrs. Beauty Akter |
Director |
|
Mr.Tanveer Ahmed Mostofa |
Director |
|
Ms. Tanjima Bente Mostofa |
Director |
|
Ms. Thamen Bente Mostofa |
Director |
|
Name |
: |
Mr. Zoynul Adedeen |
|
Job Description |
: |
Senior Deputy General Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
|
Other details |
: |
N/A |
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Nature of
Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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|||||||
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Exporter |
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Importer |
Ö |
Services |
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Others |
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Range of Products: |
||
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||
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Products |
: |
Condensed Milk |
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Production
Capacity |
: |
155000 Carton per month |
|
Last Year
Production |
: |
Do |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
|
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|||
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Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
|
Selling
Terms : |
L/C |
|
Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
|
Trade Reference & Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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||
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
China, India, Australia |
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Brand Name |
: |
N/A |
||||||||
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Certified |
: |
N/A |
||||||||
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Auditors |
: |
N/A |
||||||||
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Operation Status |
: |
Active |
||||||||
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Member |
: |
N/A |
||||||||
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Authorized Capital |
: |
Tk. 30
Crore |
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||||||
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Paid-up Capital |
: |
Tk. 2,
00,000 |
No. of
Shares |
: |
2000 |
Share Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk. 39.80
Million |
|
||||||
The subject company don’t submit update full financial figure to local
registry office.
|
Sister Concerns |
: |
Kamal Trading Co. Ltd. Bagdad Vegetable Oil Industries Ltd. Meghna Dairy & Food Products Ltd. Mercantile Shipping Lines Ltd Meghna Flour & Dal Mills Ltd. Meghna Tea Company Meghna Coconut & Mustard Oil Mills Ltd. M.M. Printing & Packaging Company Ltd. G.Shipping Lines Ltd. United Fibre Industries Ltd United Feeds Ltd United Edible Oils Ltd United Mineral Water & Pet Industries Ltd Unique Cement Industries Ltd Unique Power Plant Ltd United Sugar Mills Ltd Tanveer Oil's Ltd Tanveer Food Ltd. Tanveer Polymer Industries Ltd. Sonargaon Salt Industries Ltd. Tanveer Steel Mills Ltd. Tanveer Paper Mills Ltd. Janata Flour & Dal Mills Ltd. Meghna Properties Ltd. Everest CNG Refueling & Conversion Ltd Everest Power Generation Co. Ltd. Meghna Shipbuilders & Dockyard Ltd. Dhaka Plastic Bottle (PET) Ind. Ltd Global Ad Star Bag Industries Ltd Tasnim Chemical Complex Ltd. Fresh Cement Industries Ltd. Meghna Seeds Crushing Mills Ltd. Dhaka Securities Ltd. Bangladesh National Insurance Co. Ltd.
Unique Infoway Ltd |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Meghna Group of Industries |
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Bank Name |
: |
Islami Bank Bangladesh Ltd. |
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Bank Address |
: |
Dilkusha Branch slami Bank Tower, 40 Dilkusha C/A, Dhaka-1000 Phone: (02) 9563182, PABX-(02) 9563040 Mobile: 01711693908, 01714034155 Fax: (02) 9564532 Email: hocc@islamibankbd.co |
|
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||
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Bank Name |
: |
Sonali Bank Ltd |
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Bank Address |
: |
Local Office 35-44, Motijheel C/A Dhaka, Dhaka Tel: 88-02-89553382, 9551482, 988-02-9568002 |
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Bank Name |
: |
Jamuna Bank Ltd. |
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Bank Address |
: |
Motijheel Branch Surma Tower, 59/2, Purana Paltan, Dhaka-1000 Tel: 88-02-9554474, 9551606 |
|
|
||
|
Bank Name |
: |
Eastern Bank Ltd. |
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Bank Address |
: |
Head Office Jiban Bima Bhaban 10, Dilkusha C/A Dhaka – 1000 Phone:88- 02-9556360 |
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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 |
Our representative visited the subject company Head office address which
is situated at Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212,
Bangladesh. It is situated at residential area which is decorated by modern
furniture.
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.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIS |
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.