MIRA INFORM REPORT

 

 

Report No. :

306705

Report Date :

09.02.2015

 

IDENTIFICATION DETAILS

 

Name :

BEACON PHARMACEUTICALS LTD

 

 

Registered Office :

Orion House, 153-154, Tejgaon l/A, Dhaka-1208

 

 

Country :

Bangladesh

 

 

Financials (as on) :

30.09.2014 (Un-audited)

 

 

Date of Incorporation :

12.09.2001

 

 

Com. Reg. No.:

C-43991

 

 

Legal Form :

Public Listed Company    

 

 

Line of Business :

Engaged in manufacturing specialized and sophisticated Anti-Cancer and Bio-Tech Products; Cardiovascular Drugs, Antibiotics, NSAIDs and other Life Saving Medicines.

 

 

No of Employees :

1300 (300 in Office & 1000 in factory)

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

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 – 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

:

Beacon Pharmaceuticals Ltd

Head Office

:

Orion House, 153-154, Tejgaon l/A, Dhaka-1208, Bangladesh

Tel No

:

880-2-8870133-4

Fax No

:

880-2-8870109

E-mail

:

beacon@beacon-pharma.com  export@beacon-pharma.com

Website

:

www.beacon-pharma.com   

Date of Incorporation

:

12.09.2001

Incorporation No.

:

C-43991

Legal Form (General)

:

 Public Listed Co     Public (but not listed)   Private Co   State-owned Co

 Sole Proprietorship  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

30 June, 2014

BDT 347,950,327

 (July-Sep, 2013)

BDT 4,589,825,300

BDT 4,746,519

  (July-Sep, 2013)

30 Sep, 2014

BDT 555,875,846

 (July-Sep, 2014)

BDT 4,533,166,668

BDT5,464,231

  (July-Sep, 2014)

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. K.M. Ali Gajnabi (Pavel)

Designation

:

Senior Officer ( Commercial)

Contact No

:

01730025973

 

 

Locations Details

 

Operating Address

:

Orion House, 153-154, Tejgaon l/A, Dhaka-1208, Bangladesh

Tel No

:

880-2-8870133-4

Fax No

:

880-2-8870109

E-mail

:

beacon@beacon-pharma.com , export@beacon-pharma.com

Website

:

www.beacon-pharma.com 

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

3200

Sq. ft.

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

 

 

Retail shop

 

 

Industrial Park

Ö

 

 

Business Center

 

 

Home Office

 

 

 

Residential Bldg.

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Kathali, Bhaluka, Mymensingh, Bangladesh.

Tel No

:

N/A

Fax No

:

N/A

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

180,000

Sq. ft.

 

Sales office:

 

 

 

Address

:

9/A, toyenbee Circular Road, Motijheel C/A, Dhaka-1000, Bangladesh

Tel No

:

88-01985551233

Fax No

:

N/A

 

Employee:

 

No. of Employees 

 

In Office

:

300

In Factory

:

1000

In Branch:

:

 

Total

:

1300

 

OWNERSHIP/SHAREHOLDERS

 

Names of Shareholders

 No. of Share

Sponsors & Director

6,93,12,000

Corporate Bodies

4,36,37,685

General Investors

11,80,50,315

 

 

DIRECTORS

 

Name

Designation

Mr. Mohammad Ebadul Karim    

Chairman & Managing Director

Mrs. Nurun Nahar Kabir

Director

Mr. Niazul Karim

Director

Mr. Abdul Qader Siddiqui

Director

 

 

MANAGEMENT

 

Name

:

Mr. Anjan Mallik

Job Description

:

Manager, F & A and Company Secretary

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. K.M. Ali Gajnabi (Pavel)

Job Description

:

Senior Officer ( Commercial)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

01730025973

 

 

Name

:

Mr. A.K.M. Anwarul Haq

Job Description

:

VP( Marketing)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

-

 

Name

:

Mr. Sheikh Enayet Karim

Job Description

:

EVP, HR & Admin

Nationality

:

Bangladeshi

Email address

:

N/A

 

BUSINESS OPERATIONS

 

Engaged in manufacturing specialized and sophisticated Anti-Cancer and Bio-Tech Products; Cardiovascular Drugs, Antibiotics, NSAIDs and other Life Saving Medicines.

 

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, Korea

 

 

 

Brand Name

:

Nil

Certified

:

N/A

Auditors

:

Malek Siddiqui Wali

Chartered Accountants

9-G, Motijheel C/A, Dhaka-1000

Operation Status

:

Active

Member

:

N/A

                 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 2,500,000,000

 

Paid-up Capital

: BDT 2,310,000,000

No. of Shares :  231000000

Share Value

:

BDT10.00Each

Main Assets

:

BDT 4,533,166,668

 

 

FINANCIAL STATEMENT- DETAILED

 

Balance Sheet :

 

  Currency

: Tk

 

       Denomination

: 1

 

         Financial Year Ending

:30 Sep,2014

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Currency

: Tk

 

       Denomination

: 1

 

         Financial Year Ending

: 30 Sep,2014

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Nil

Subsidiary

:

Nil

Name of  The Group

:

Nil

 

 

BANKING

           

Bank Name  

:

Janata Bank Ltd.

Bank Address

:

Corporate Bhaban Branch

 

Bank Name  

:

First Security Islami bank Ltd.

Bank Address

:

Gulshan Branch

Bank Name  

:

Dutch Bangla Bank Ltd.

Bank Address

:

Karwan Bazar Branch

Bank Name  

:

City Bank Ltd.

Bank Address

:

Standard Chartered Bank Ltd

 

 

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 Orion House, 153-154, Tejgaon l/A, Dhaka-1208, Bangladesh. It is situated at industrial area & their office is well decorated.

 

 

GENERAL COMMENTS

 

SC is public listed company.

 

Adopted Abbreviations:

NA- Not Available

 TK- Bangladeshi Taka

 

 

 

 

 

 

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 :

MNL

 

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.