MIRA INFORM REPORT

 

 

Report Date :

01.09.2014

 

IDENTIFICATION DETAILS

 

Name :

ABUL KHAIR GROUP OF INDUSTRIES LTD.

 

 

Registered Office :

D.T Road, Pahartali, Chittagong-4000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

15.03.1997

 

 

Com. Reg. No.:

Ch-2562

 

 

Legal Form :

Private Co

 

 

Line of Business :

Manufacturer, Distributor & Exporter of Beverage (fruit juice & flavored milk), Sweetened Condensed Milk, Best Quality Tea, Edible Oil, Cement Galvanized plain & Corrugated sheet, Cigarette.

 

 

No. of Employees

13000

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

Payment Behaviour :

Regular

 

 

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

:

ABUL KHAIR GROUP OF INDUSTRIES LTD.

Head Office

:

D.T Road, Pahartali, Chittagong-4000, Bangladesh.

Tel No

:

88-031-714541, 714542, 752233, 720284

Fax No

:

88-031-710051, 720239, 626711

E-mail

:

f-alam@abulkhairgroup.com

Website

:

www.abulkhairgroup.com

Date/ Year of Incorporation

:

15.03.1997

Incorporation No.

:

Ch-2562

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’ 11~June’ 12

Tk. 44500 Million

Tk. 550 Million

Tk. 1780 Million

July’ 12~June’ 13

Tk. 56250 Million

Tk. 620 Million

Tk. 2250 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. ANM Wazid Ali

Designation

:

General Manager

Contract No

:

-

 

                                                               Locations Details

 

Operating Address

:

D.T Road, Pahartali, Chittagong-4000, Bangladesh.

Tel No

:

88-031-714541, 714542, 752233, 720284

Fax No

:

88-031-710051, 720239, 626711

E-mail

:

f-alam@abulkhairgroup.com

Website

:

www.abulkhairgroup.com

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

5000

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

:

Rangpur Factory:

Uttam, Rangpur, Bangladesh.

 

Chittagong Factory:

1. Sonaichori, Sitalpur, Sitakunda, Chittagong

2. Madam Bibir Hut, Sitakunda, Chittagong.

 

Location :

   Owned

 

 

Rented

Ö

 

Leased

 

Area

25

Acores

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

300

In Factory

:

12700

In Branch:

:

-

Total

:

13000

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Abul Kasham

250

Mr. Abul Hasham

250

Mr. Abu Syed Chowdhury

250

Mr. Shah Safiqul Islam

250

 

 

DIRECTORS

 

Name

Designation

Mr. Abul Kasham

Chairman

Mr. Abul Hasham

Managing Director

Mr. Abu Syed Chowdhury

Director

Mr. Shah Safiqul Islam

Director

 

 

MANAGEMENT

 

Name

:

Mr. ANM Wazid Ali

Job Description

:

General Manager

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. N. R. Sharma

Job Description

:

Chief Executive Officer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

Range of Products:

 

Products

:

Beverage (fruit juice & flavored milk)

Sweetened Condensed Milk.

Best Quality Tea.

Edible Oil.

Cement

Galvanized plain & Corrugated sheet, Cigarette

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

 

:

USA, UK, Canada, Japan, Europe.

 

 

Imports

 

:

China, India, Italy, Singapore, Germany, Turkey, Pakistan, Malaysia.

 

 

 

 

Brand Name

:

Starship, Marks, Seylon, Kurmure

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

Dhaka Chamber of Commerce & Industry, Dhaka

 

 

CAPITAL STRUCTURE

 

Invest Capital

:

Tk. 10 Million

 

Paid-up Capital

:

Tk. 1, 00,000

    No. of Shares

:

1000

Share Value

:

Tk.100.00Each

Main Assets

:

Tk. 620 Million

 

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Abul Khair Steel Mills Ltd.

Abul Khair Condensed Milk Industries Ltd.

Shah Dairy Products Limited

Abul Khair Condensed Milk &

Beverage Industries limited

Shah Dairy Foods Limited

A.K Corporation Limited

Abul Khair Tobacco Company Limited

Abul Khair Vegetables Oil Industries Ltd.

A.K Properties Limited

Shah Cement Industries Ltd.

Abul Khair Tea Limited

Smark Coconut Oil Products Limited

Abul Khair Steel Products Ltd. 

Abul Khair Match Factory Ltd. 

Abul Khair Power Ishwardi Limited

Abul Khair Steel Melting Limited

Subsidiary

:

N/A

Name of  The Group

:

Abul Khair Group

 

 

BANKING

 

Bank Name  

:

Islami Bank Bangladesh Ltd.                                                                                   

Bank Address

:

Khatunganj Branch

82, Azim Market, Khatunganj, Chittagong

Phone: (031) 620744, 634323

Fax: (031) 622748

Email: khatungonj@islamibankbd.com

 

Bank Name  

:

Prime Bank Ltd.

Bank Address

:

Khatunganj Branch

142, Chand Mia Lane, Khatungonj, Chittagong-4000

Phone: (031) 623212-14, 627297

Fax: 88-031-610848

Telex: 633109 PBLKC BJ

SWIFT: PRBLBDDH002

Email: pblkhatunganj@primebank.com.bd

 

Bank Name  

:

National Bank Ltd.

Bank Address

:

Agrabad Branch

67, Agrabad C/A, Chittagong;

Phone: 031-716163-4

 

Bank Name  

:

Bank Asia Ltd.

Bank Address

:

Agrabad Branch

69, Agrabad C/ A, Chittagong

Ph: 880-31-714665, 724876, 714703,

Fax: 880-31-714548,

Telex: 633274 BAAGR BJ

 

 

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 D.T Road, Pahartali, Chittagong-4000, Bangladesh. The subject company General Manager Mr. ANM Wazid Ali given us all information. Is situated at commercial area which is a well decorated modern office.

 

 

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 may proceed in moderate amounts.

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.48

UK Pound

1

Rs.100.35

Euro

1

Rs.79.86

                

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.