MIRA INFORM REPORT

 

 

Report No. :

306855

Report Date :

07.02.2015

 

IDENTIFICATION DETAILS

 

Name :

OPSONINPHARMA LTD.

 

 

Formerly Known As :

OPSONIN CHEMICAL INDUSTRIES LTD.

 

 

Registered Office :

Opsonin Complex (5th Floor), 31 New Eskaton Road, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

10.03.1976

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Finished Pharmaceutical Products (Tablet, Capsule, Injection, Syrup, Suspenssion, Suppository

 

 

No. of Employee :

2200

 

 

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

B1

 

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

 

 

 

Order Date

:

05-Nov-14

Order Ref. No

:

293107

 

IDENTIFICATION DETAILS

 

Correct company Name

:

OpsoninPharma Ltd.

Previous Name

:

Opsonin Chemical Industries Ltd.

Head Office

:

Opsonin Complex (5th Floor), 31 New Eskaton Road, Dhaka-1000, Bangladesh.

Tel No

:

880-2-9332262, 9356451, 9356533, 9357023

Fax No

:

N/A

E-mail

:

rouf@opsonin.net , his@opsonin.net , emamul@opsonin.net

Website

:

www.opsonin.com

Date/ Year of Incorporation

:

10/03/1976

Incorporation No.

:

C-4741

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. 386 Million

Tk. 226.92 Million

Tk. 23.27 Million

July’ 13~June’ 14

Tk. 465 Million

Tk. 232.47 Million

Tk. 27.05 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. Ashique

 

Designation

Admin & HR Officer

 

Contract No

--

 

 

Locations Details

 

Operating Address

:

Opsonin Complex (5th Floor), 31 New Eskaton Road, Dhaka-1000, Bangladesh.

Tel No

:

880-2-9332262, 9356451, 9356533, 9357023

Fax No

:

N/A

E-mail

:

rouf@opsonin.net, his@opsonin.net, emamul@opsonin.net

Website

:

www.opsonin.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

6500

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

:

Bagura Road, Barisal, Bangladesh. 

Tel No

:

N/A

Fax No

:

N/A

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

105 Acores

 

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

245

In Factory

:

1955

In Branch:

:

-

Total

:

2200

Details:

 

 

 

 

 

OWNERSHIP/SHAREHOLDERS

 

Names of Shareholders

 No. of Share

Capt. (Rtd) AbdusSabur Khan

175000

Mr. AbdurRouf Khan

175000

Mr. AbdurRaquib Khan

175000

 

 

DIRECTORS

 

Name

Designation

Capt. (Rtd) AbdusSabur Khan

Chairman

Mr. AbdurRouf Khan

Managing Director

Mr. KhandokarAbulHasan

Director

Mr. AbdurRaquib Khan

Director

Mr. Abdul Khaleque Khan

Director

 

 

MANAGEMENT

 

Name

:

Mr. Ashique

Job Description

:

Admin & HR Officer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. AFM. EnamulHoque

Job Description

:

Commercial Manager

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

Ö

Services

 

Others

 

 

Item Dealings In:

 

Products

:

Finished Pharmaceutical Products (Tablet, Capsule, Injection, Syrup, Suspenssion, Suppository 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

:

 

Main Foreign Buyers                                  

:

Africa, Oceania

Mid East

Eastern Asia

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports

:

N/A

 

Imports

:

China, India, Malaysia

 

 

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

N/A

Operation Status

:

Active

Member

:

Dhaka Chamber of Commerce & Industry.

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk. 150 Million

 

Paid-up Capital

:

Tk. 5, 25,00,000

No. of Shares

:

5,25,000

ShareValue

:

Tk.100.0Each

Main Assets

:

Tk.232.47 Million

 

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Opsonin Saline Limited

Opsonin Bulk Drugs Limited.

Global Heavy Chemical Limited.

Global Capsules Limited

Opsonin Chemical Ind. Ltd.

Crescent Chemicals Ltd.

Jokky Garments Ltd. 

Subsidiary

:

N/A

Name of  The Group

:

Opsonin Group

 

 

BANKING

 

Bank Name  

:

Pubali Bank Limited

Bank Address

:

Barishal Branch

Barishal, Bangladesh.

 

Bank Name  

:

EXIM Bank Limited

Bank Address

:

New Eskaton Road Branch,

27/1, New Eskaton Road, Dhaka

Phone: 9349196, 8314159, 8314435

Mobile: 01713-164690

Fax: 880-2-9349196

E-mail: neweskaton@eximbankbd.com                           

 

 

 

Bank Name  

:

Standard Chartered Bank

Bank Address

:

Gulshan Head Office Branch,

 67 Gulshan Avenue, Dhaka-1212, Bangladesh    

Tel: 88-02-8833003

 

 

Bank Name  

:

Hong Kong Shanghai Banking Corporation                                                                                           

Bank Address

:

Dhaka Main Office

Anchor Tower, 108, BirUttam C R Dutta Road,

Dhaka – 1205, Bangladesh.

Telephone:88-02-9660536-43(Hunting)                                                                                   Facsimile: 88-02-9660554 (5th Floor),

                      9669457 (2nd Floor)

 

 

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 Opsonin Complex (5th Floor), 31 New Eskaton Road, Dhaka-1000, Bangladesh. The subject company Admin & HR Officer Mr. Ashiquegiven us all information. Is situated at commercial area which is a well decorated modern office.

 

 

 

GENERAL COMMENTS

 

SC is considered medium-sized in its line with fairly stable financial conditions. A credit line up to USD 85,000 would appear to be within SC’s capacities.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.74

UK Pound

1

Rs.94.65

Euro

1

Rs.70.79

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ANK

 

 

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.