MIRA INFORM REPORT

 

 

Report No. :

306802

Report Date :

07.02.2015

 

IDENTIFICATION DETAILS

 

Name :

NOVARTIS (BANGLADESH) LIMITED

 

 

Formerly Known As :

CIBA-GEIGY (BANGLADESH) LTD.

 

 

Registered Office :

AHN Tower (7th -9thFloor), 13 Bir Uttam C. R. Dutta, Road, (Old Sonargaon Road), Biponan C/A, Dhaka-1205

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

20.05.1974

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer, Exporter, Importer and Distributor of Tablets, Capsules, liquids, Gel, Injections.

 

 

No. of Employee :

1250

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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

 

 

 

IDENTIFICATION DETAILS

 

Correct company Name

:

NOVARTIS (BANGLADESH) LIMITED

Company previous name

:

CIBA-GEIGY (BANGLADESH) LTD.

Head Office

:

AHN Tower (7th -9thFloor), 13 Bir Uttam C. R. Dutta, Road

(Old Sonargaon Road), Biponan C/A, Dhaka-1205, Bangladesh

Tel No

:

Nil

Fax No

:

880-9606300300

E-mail

:

nadera.rownak@novartis.com

Website

:

www.novartis.com.bd

Date/ Year of Incorporation

:

20/05/13974

Incorporation No.

:

C-4041

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

BDT 268 Million

BDT 300.00  Million

BDT 14.74  Million

July’ 13~June’ 14

BDT 512  Million

BDT 329.60  Million

BDT 28.16  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. Joy Adhikari

Designation

:

Supply Chain Manager

Contract No

:

-

 

                                                               Locations Details

Operating Address

:

AHN Tower (7th -9thFloor) 13 Bir Uttam C. R. Dutta, Road (Old Sonargaon Road), Biponan C/A, Dhaka-1205, Bangladesh

Tel No

:

Nil

Fax No

:

880-9606300300

E-mail

:

nadera.rownak@novartis.com

Website

:

www.novartis.com.bd

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

7500

Sq. ft.

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

 

Plant:

 

 

 

 

 

Address

:

Squibb Road, Charag Ali Market, Tongi, Bangladesh

Tel No

:

88-02-9810728

Fax No

:

88-9804245

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

2.5

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

150

In Factory

:

1100

In Branch:

:

 

Total

:

1250

Details:

 

                    

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Bangladesh Chemical Industries Corporation

650024

Novarties Pharma AG

1

Novartis AG

975031

Novartis Holding AG

1

Novarties Lateinamerika AG

1

Novartis Pharma Services AG

1

Renor AG

1

 

DIRECTORS

 

Name

Designation

Mr. Sheikh Nahar Mahamud

Managing Director

Mr. K.H. Masud Siddiqul

Direcrto

Mr. Dipak Ranjan Datta

Direcrto

Mr. Mohammad Abdul Hamid

Direcrto

Mr. Christopher Snook

Direcrto

Mr. Andre Rudolph Wyss

Direcrto

  Mr. Richard John Saynor

Director

 

MANAGEMENT

 

Name

:

Mr. Sheikh Nahar Mahamud

Job Description

:

Managing Director

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Joy Adhikari

Job Description

:

Supply Chain Manager

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

Ö

Importer

Ö

Services

 

Others

 

 

Range of Products:

 

Products

:

Tablets, Capsules, liquids, Gel, Injections

Production Capacity

:

N/A

Last Year Production

:

N/A

 

Trading Terms:

 

Purchasing Terms:

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

 

90 days

 

 

days

 

Selling Terms      :

L/C

Ö

Cash

Ö

Others

 

 

 

Credit :

 

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

:

 Srilanka, Kenai, Macau, Somalia, Myanmar, Vietnam.      

 

Imports

:

China, India, Pakistan, Thailand, Germany

 

 

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

Nil

Operation Status

:

Active

Member

:

Dhaka Chamber of Commerce & Industry, Dhaka

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

BDT 500 Million

 

Paid-up Capital

:

BD16, 25, 06,000

    No. of Shares

: 1625060

Share Value

:

BDT 100.00Each

Main Assets

:

BDT 329.60 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Alcon Pharmaceuticals Ltd

Subsidiary

:

N/A

Name of  The Group

:

Nil

 

BANKING

 

 

Bank Name  

:

Hong Kong Shanghai Banking Corporation

Bank Address

:

Dhaka Main Office

Anchor Tower, 108, Bir Uttam C R Dutta Road,

Dhaka - 1205

Telephone: 88-02-9660536-43

Facsimile: 8802- 9660554, 9669457

 

Bank Name  

:

Standard chartered Bank

Bank Address

:

Gulshan Head office Branch,

67 Gulshan Avenue, Dhaka,

Bangladesh

 

 

 

Bank Name  

:

The City Bank Ltd

Bank Address

:

Dhanmondi Branch,

Suvastu Zenim Plaza (2nd floor),

Road # 27(Old), 32(New),

House# 312, Dhanmondi R/A, Dhaka-1205

Phone: 88-02-9124475 8143825, 0191321763

 

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 AHN Tower (7th -9thFloor) 13 Bir Uttam C. R. Dutta, Road (Old Sonargaon Road), Biponan C/A, Dhaka-1205, Bangladesh. It is situated at semi commercial area & their office is well decorated.

 

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.61.73

UK Pound

1

Rs.94.65

Euro

1

Rs.70.79

 

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.