|
Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL AD STAR BAG INDUSTRIES LTD. |
|
|
|
|
Registered Office : |
Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212 |
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Country : |
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Date of Incorporation : |
09.06.2009 |
|
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Legal Form : |
Private Company |
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|
|
|
Line of Business : |
Manufacturer and Exporter of PP
Woven, Single Ply Cement Bag |
|
|
|
|
No of Employees : |
550 |
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 |
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 company
Name |
: |
GLOBAL AD STAR BAG INDUSTRIES LTD. |
|
Head Office |
: |
Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212, Bangladesh. |
|
Tel No |
: |
88-02-9887545, 9889490, 9884791 |
|
Fax No |
: |
88-02-9884896 |
|
E-mail |
: |
info@meghnagroup.biz |
|
Website |
: |
Nil |
|
Date/ Year of
Incorporation |
: |
09-06-2009 |
|
Incorporation No. |
: |
C-77971
|
|
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. 1025 Million |
Tk. 862.25 Million |
Tk. 82.20 Million |
|
July’ 13~June’
14 |
Tk. 1231 Million |
Tk. 887.70 Million |
Tk. 95.51 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. Rafiqul Islam |
|
Designation |
: |
Deputy General
Manager |
|
Contract No |
: |
- |
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, 9884791 |
|
Fax No |
: |
88-02-9884896 |
|
E-mail |
: |
info@meghnagroup.biz |
|
Website |
: |
Nil |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
2200 |
Sq. ft. |
|
Type of Office : |
: Commercial
Office Bldg. |
Ö |
|
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 |
: |
Meghnaghat, New Town Sonargaon,
Narayangonj, Bangladesh. |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
32000 |
Sq. ft. |
|
Branches: |
|
|
|
|
|
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|
Address |
: |
Nil |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
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Employee: |
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|||||||
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|||||||
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No. of Employees |
In Office |
: |
20 |
In Factory |
: |
830 |
||
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In Branch: |
: |
- |
Total |
: |
550 |
|||
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Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Mr. Mostafa Kamal |
1000
|
|
Ms. Beauty Akhter |
1000
|
|
Miss. Tanjima Binthe Mostafa |
1000 |
|
Miss. Tahmina Binthe Mostafa |
1000 |
|
United Sugar Mills Ltd. (Rept. By Yousuf Ali) |
100000 |
|
Tanveer Dal Mill & Flour Mills Ltd. (Rept. By S.M. Zahirul Haque) |
100000 |
|
Tanveer Ahmed Mostafa |
1000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Mostafa Kamal |
Managing Director |
|
Ms. Beauty Akhter |
Director |
|
Miss. Tanjima Binthe Mostafa |
Director |
|
Miss. Tahmina Binthe Mostafa |
Director |
|
Mr. Yousuf Ali |
Director |
|
Mr. S.M. Zahirul Haque |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Rafiqul Islam |
|
Job Description |
: |
Deputy General
Manager |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
BUSINESS OPERATIONS
|
||||||||
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
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|||||||
|
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Exporter |
Ö |
Importer |
|
Services |
|
Others |
|
|
Range of
Products: |
||
|
|
||
|
Products |
: |
PP Woven, Single Ply Cement Bag |
|
Production Capacity |
: |
150000 pieces. Per day |
|
Last Year Production |
: |
Do |
|
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 |
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||
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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||||
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Trade Markets |
: |
Exports |
: |
India, Dubai |
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|||||
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Imports |
: |
India, South Africa, Korea, Thailand |
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|||||||
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|||||||||
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Brand Name |
: |
N/A |
||||||||
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Certified |
: |
N/A |
||||||||
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Auditors |
: |
N/A |
||||||||
|
Operation Status |
: |
Active |
||||||||
|
Member |
: |
Dhaka Chamber of Commerce & Industry, Dhaka |
||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
Tk. 20 Crore |
|
||||||
|
Paid-up Capital |
: |
Tk. 2, 05, 00,000 |
No. of Shares |
: |
2, 05,000 |
Share Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk. 887.70 Million |
|
||||||
FINANCIAL STATEMENT- DETAILED
|
|
The subject company don’t submit update full
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister
Concerns |
: |
Tasnim Condensed Milk Limited. CONSUMER GOODS Tanveer Dall Mill & Flour Mills Ltd. Meghna Tea Company Tanveer Mustard Oil Mill & 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 & Dall Mills Ltd. Tasnim Chemical Complex Ltd Bagdad Vegetables Oil Mill Ltd. Meghna Dairy & food Industries Ltd. CEMENT : Unique Cement Industries Ltd. PAPER : Tanveer Paper Mills Ltd. PACKAGING & PRINTNG : M.M. Printing & Packaging Co. Ltd. United Fibre Industries Ltd. Tanveer Polymeer Industries Ltd. POWER & ELECTRICITY : Unique Power Plant Limited Everest Power Generation Co. Limited POULTRY & FISH FEED : United Feeds Limited STEEL : Tanveer Steel Mills Ltd. SHIPPING, LOGESTICS & TRANSPORT : Mercantile Shipping Lines Ltd G. Shipping Lines Ltd United Shipping Lines United Dockyard & Ship Builders HOUSING : Meghna Properties Limited Meghna Housing Ltd. OTHERS : Kamal Trading Co. Ltd. Kamal Imports & Exports Ltd Everest CNG Refueling & Conversion Ltd. Executive Machines Limited Bangladesh National Insurance Co. Ltd. Meghna Pet Industries Ltd. Meghna Bricks Pvt. Ltd. Meghna Trading Agency Ltd. Bangladesh Securities Ltd. Meghna Coconut & Mustard Oil Mills Ltd Sonargaon Salt Industries Ltd Everest Shipbuilders& Docyard Ltd Dhaka Plastic Bottile (pet)Ind Ltd Glodal Ad Star Bag Industries Ltd Tasnim Chemical Complex Ltd Fresh Cement Industries Ltd Meghna Seed Crushing Mills Ltd Dhaka Securities Ltd Unique Infoway Ltd Abrar Steel Industries Ltd Fxecutiva Machines Limitrd Meghna Flour & Dal Mills Ltd Meghna Group Meghna Group Of Industries Ltd. Prime Edible Oil Limited |
|
Subsidiary |
: |
Nil |
|
Name of
The Group |
: |
Meghna Group of Industries |
BANKING
|
|
|
|
Bank Name |
: |
United Commercial
Bank Ltd. |
|
Bank Address |
: |
Corporate Branch Plot- CWS-(A)-1, Road No- 34 Gulshan Avenue, Dhaka-1212. 01730-318848 |
|
|
||
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 Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212, Bangladesh.
The subject company Deputy General Manager Mr. Rafiqul Islam given us all
information. Is situated at commercial area which is a well decorated modern
office. |
GENERAL COMMENTS
|
|
Whilst interviewed, Mr. Rafiqul Islam, Deputy General Manager of the
subject, provided us with a basic outline of the subject's present
state-of-affairs (as given above).The information provided in this report is
based on the information procured from the subject's file at Official
Registry (ROC). |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.81 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
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.