MIRA INFORM REPORT

Report No. :	315896
Report Date :	09.04.2015

IDENTIFICATION DETAILS

Name :	SHALBAHAN FARMS LIMITED

Registered Office :	WASA Bhaban (3^rd floor), Karwan Bazaar, Dhaka

Country :	Bangladesh

Date of Incorporation :	07.04.2005

Com. Reg. No.:	C-56601

Legal Form :	Private Co

Line of Business :	Subject is Breeder and Distributor of Broiler & Layer Chicks

No. of Employee :	350

RATING & COMMENTS

MIRA’s Rating :

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Bangladesh

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

Company name

SHALBAHAN FARMS LIMITED



*IDENTIFICATION DETAILS*
Correct company Name	:	SHALBAHAN FARMS LIMITED
Head Office	:	WASA Bhaban (3^rd floor), Karwan Bazaar, Dhaka, Bangladesh
Tel No	:	88-02-9122031-2
Fax No	:	Nil
E-mail	:	mrkhan@baygroupco.com
Website	:	Nil
Date/ Year of Incorporation	:	07/04/2005
Incorporation No.	:	C-56601
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


Year	Turnover/ Sales	Assets	Income
July’ 12~June’ 13	BDT 248 Million	BDT 411.11 Million	BDT 9.42 Million
July’ 13~June’ 14	BDT 392 Million	BDT 431.50 Million	BDT 15.07 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. Mizanur Rahman Khan

Designation

Manager ( Commercial)

Contract No

88-01841160802

*Locations Details*
Operating Address	:	WASA Bhaban (3^rd floor), Karwan Bazaar, Dhaka, Bangladesh
Tel No	:	88-02-9122031-2
Fax No	:	Nil
E-mail	:	mrkhan@baygroupco.com
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

2400

Sq. ft.

Type of Office :	: Commercial Office Bldg.		Semi-commercial office Bldg.	Ö
Retail shop		Industrial Park
Business Center		Home Office
Residential Bldg.

Factory:
		Unit : 1
Address	:	Sonatola, Kalikoir, Gazipur, Bangladesh
Tel No	:	Nil
Fax No	:	Nil

		Unit : 2
Address	:	Khairibari, Thakurgaon, Bangladesh
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

19,73

Acores.

Branches:

Address	:	21, Hazari bazar,Dhkak-1209, Bangladesh
Tel No	:	88-02-9661134
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	15	In Factory	:	335
	In Branch:	:		Total	:	350
Details:


Names of Shareholders	No. of Share
Major Anisur Rahman	1500
Mr. Asifur Rahman	3500
Mr. Shamsur Rahman	500


Name	Designation
Major Anisur Rahman	Chairman
Mr. Asifur Rahman	Director
Mr. Shamsur Rahman	Director

Name

Mr. Mizanur Rahman Khan

Job Description

Manager ( Commercial)

Nationality

Bangladeshi

Email address

N/A

Other details

88-01841160802

Nature of Activity :

Breeder

Trader

Dealer

Distributor

Exporter

Importer

Services

Others

Range of Products:

Products	:	Broiler & Layer Chicks
Production Capacity	:	18.6 Million pcs
Last Year Production	:	Do

Trading Terms:

Purchasing Terms:	L/C		Cash		Others
	Credit :		30 days		60 days		90 days			days

Selling Terms :	L/C		Cash		Others
	Credit :		30 days		60 days		90 days			days

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

Nil

Certified

Nil

Auditors

Nil

Operation Status

Active

Member

N/A


Authorized Capital	:	BDT 150 Million
Paid-up Capital	:	BDT 550000	No. of Shares	:	5500	Share Value	:	BDT100.00Each
Main Assets	:	BDT 431.50 Million


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

Sister Concerns	:	Bay Agro Industries Ltd. Bay Tanneris Ltd. Bay Footwear Ltd. Bay Ruber Ltd.
Subsidiary	:	Nil
Name of The Group	:	Bay Group


Bank Name	:	Janata Bank Ltd.
Bank Address	:	Head Office Branch Surma wer, 110 Purana Paltan, Dhaka-1000, Bangladesh Phone : 9554474, 9551606

Bank Name	:	Agrani Bank Ltd
Bank Address	:	Ramna Branch 18, Bangabandhu Avenue, Gpo Ramna-1000, Dhaka, Bagladesh Tel- 7160070


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 which is situated at WASA Bhaban (3rd floor), Karwan Bazaar, Dhaka, Bangladesh. It is situated at Semi-Commercial area.

The subject company is engaged in Breeder & Distributor. It is reputed company in this line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.33
UK Pound	1	Rs.92.53
Euro	1	Rs.67.60

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	ASH

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.

MIRA INFORM REPORT

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