MIRA
INFORM REPORT
|
Report No. : |
335754 |
|
Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
RENATA LTD. |
|
|
|
|
Formerly Known As : |
LABORATORIES
(BANGLADESH) LTD. |
|
|
|
|
Registered Office : |
House # 450, Road # 31, New DOHS, Mohakhali, GPO Box # 303, Dhaka-1206 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
30.06.2015 |
|
|
|
|
Year of Establishment : |
1972 |
|
|
|
|
Com. Reg. No.: |
C-3862
|
|
|
|
|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Importer of Tablet, Capsule, Syrup,
Suspension, and Powder for Suspension. |
|
|
|
|
No. of Employees : |
3800 |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Excellent Company |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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, accounted for more
than 80% of total exports and surpassed $18 billion in 2014. 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 $14 billion and 8% of GDP in 2014 -
are the largest contributors to Bangladesh’s current account surplus and rising
foreign exchange holdings.
|
Source
: CIA |
EXECUTIVE SUMMARY
|
IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Renata Ltd. |
|
Company Previous Name |
: |
Laboratories (Bangladesh) Ltd. |
|
Head Office |
: |
House # 450, Road # 31, New DOHS, Mohakhali, GPO Box # 303, Dhaka-1206, Bangladesh.
|
|
Tel No |
: |
88-02-9860914, 9860915, 8850918,
8850919 |
|
Fax No |
: |
88-02-8815210 |
|
E-mail |
: |
renata@renata-ltd.com |
|
Website |
: |
www.renata-ltd.com |
|
Date/ Year of Incorporation |
: |
1972 |
|
Incorporation No. |
: |
C-3862
|
|
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 |
|
31 Dec 2014 |
BDT 5,361,88,000 (January-June 2014) |
BDT
14,493,568,000 |
BDT 8 05,631,000 (January-June 2014) |
|
30 June 2015 |
BDT 6,006,892,000 (January-June 2015) |
BDT
15,139,296,000 |
BDT
932,079,000 (January-June 2015) |
|
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. Md. Jubayer Alam |
|
Designation |
: |
Company Secretary |
|
Contract No |
: |
N/A |
|
Locations Details |
||
|
Operating Address |
: |
House # 450, Road # 31, New DOHS, Mohakhali, GPO Box # 303, Dhaka-1206, Bangladesh. |
|
Tel No |
: |
88-02-9860914, 9860915, 8850918,
8850919 |
|
Fax No |
: |
88-02-8815210 |
|
E-mail |
: |
renata@renata-ltd.com |
|
Website |
: |
www.renata-ltd.com |
|
Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
3600 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential Bldg. |
|
|
|
|
|
|
Factory(Unit-1): |
||
|
Address |
: |
Plot # 1, Milk Vita Road, Section#7,
Mirpur, Dhaka-1216, Bangladesh |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
3 |
Acores |
|
Factory(Unit-2): |
||
|
Address |
: |
Noyapara, Bhawal Mirzapur Rajendrapur,
Gazipur, Bangladesh |
|
Location : |
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
25,000 |
Sq. Ft |
|
Registered Address: |
||
|
Address |
: |
342/1, Segunbagicha, Dhaka-1000,
Bangladesh. |
|
Tel No |
: |
88-02-9562871-73 |
|
Fax No |
: |
Nil |
|
Corporate Address: |
||
|
Address |
: |
Plot # 1, Milk Vita Road, Section-7,
Mirpur, Dhaka-1216, Bangladesh. |
|
Tel No |
: |
88-02-8011012, 8011013 |
|
Fax No |
: |
88-02- 8011956 |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
350 |
In Factory |
: |
3450 |
||
|
In Branch: |
: |
- |
Total |
: |
3800 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
Names of Shareholders |
No. of Share |
|
Sajida Foundation |
22505055 |
|
Business Research International Corp. Inc., Panama |
9612876 |
|
ICB Unit Fund |
1169041 |
|
Investment Corporation of Bangladesh |
2061151 |
|
First ICB Mutual Fund |
688260 |
|
Bangladesh Fund |
490795 |
|
Shadharan Bima Corporation |
1930585 |
|
Other local shareholders |
5,670166 |
|
General Public |
485407071 |
DIRECTORS
|
Name |
Designation |
|
Mr. Syed Humayun Kabir |
Chairman |
|
Mr. Kaiser Kabir, |
Managing Director |
|
Mr. Dr. Sarwar Ali |
Director |
|
Mrs. Zahida Fizza Kabir |
Director |
|
Mr. A. Hasanat Khan |
Director |
|
Mr. Md. Fayekuzzaman |
Director |
|
Mr. Manzoor Hasan |
Independent Director |
|
Mr. Kazi Aminul Huque, |
Independent Director |
MANAGEMENT
|
Name |
: |
Mr. Md. Jubayer Alam |
|
Job Description |
: |
Company Secretary |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Khokan Chandra Das |
|
Job Description |
: |
Chief financial Officer |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS OPERATIONS
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
Ö |
Services |
|
Others |
|
|
Range of
Products : |
||
|
|
||
|
Products |
: |
Tablet, Capsule, Syrup, Suspension, and
Powder for Suspension, Etc. |
|
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 |
|
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 |
: |
China, India. |
|
|||||||
|
Brand Name |
: |
N/A |
||||||||
|
Certified |
: |
N/A |
||||||||
|
Auditors |
: |
Hoda Vasi Chowdhury & Co. Chartered Accountants |
||||||||
|
Operation Status |
: |
Active |
||||||||
|
Member |
: |
N/A |
||||||||
CAPITAL STRUCTURE
|
Authorized
Capital : BDT 1,000,000,000 |
|
|||||||
|
Paid-up Capital |
: BDT
52953550000 |
No. of Shares |
: |
5295355000 |
Share
Value |
: |
BDT 10.0Each |
|
|
Main Assets : BDT 15,139,296,000 |
|
|||||||
|
Balance Sheet : |
||
|
|
Currency |
:BDT |
|
|
|
|
|
|
Denomination |
: 1 |
|
|
Financial Year Ending |
: 30 June 2015 |
|
|
||
|
Income Statement : |
||
|
|
Currency |
:BDT |
|
|
Denomination |
: 1 |
|
|
Financial Year Ending |
: 30 June 2015 |
|
|
||
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
Sister Concerns |
: |
Purnava Limited. Renata Agro Industries ltd. |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
Nil |
BANKING
|
Bank Name
|
: |
HSBC Citibank, N.A. Bank Asia Limited Eastern Bank
Limited The City Bank
Limited Agrani Bank
Limited Sonali Bank
Limited Commercial Bank
of Ceylon Standard
Chartered Bank |
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 House# 450, Road#31, New DOHS, Mohakhali, GPO Box # 303, Dhaka-1206,
Bangladesh. It is situated at commercial area which is a well decorated
modern office. |
GENERAL COMMENTS
|
The subject company is
engaged in manufacturer & Distributor. It is reputed company in this line
of business. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.69.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.