MIRA INFORM REPORT

 

 

Report No. :

306820

Report Date :

09.02.2015

 

IDENTIFICATION DETAILS

 

Name :

ORGANIC HEALTH CARE LIMITED 

 

 

Registered Office :

House# 22/B, Road#2, Dhanmondi R/A, Dhaka-1205

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

17.01.2002

 

 

Legal Form :

Public (But Not Listed)

 

 

Line of Business :

Manufacturer, Distributors and Importer of Tablets, Capsules & Suspensions 

 

 

No. of Employees :

700

 

 

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

:

ORGANIC HEALTH CARE LIMITED  

Head Office

:

House# 22/B, Road#2, Dhanmondi R/A, Dhaka-1205, Bangladesh

Tel No

:

880-2-8631635

Fax No

:

880-2-8631597

E-mail

:

info@ohclbd.com,  mahbub@organic.com.bd

Website

:

Nil

Date/ Year of Incorporation

:

17/01/2002

Incorporation No.

:

C-44901

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

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

     Income

July’ 12~June’ 13

BDT 387 Million

BDT 152.24 Million

BDT 17.41 Million

July’ 13~June’ 14

BDT 421 Million

BDT 168.95 Million

BDT 21.47 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. Md. Washiqul Alam

Designation

:

Assistant Manager 

Contract No

:

88-01865005006

 

Locations Details

Operating Address

:

House# 22/B, Road#2, Dhanmondi R/A, Dhaka-1205, Bangladesh

Tel No

:

880-2-8631635

Fax No

:

880-2-8631597

E-mail

:

info@ohclbd.com,  mahbub@organic.com.bd

Website

:

Nil

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

1400

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

      

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

Ö

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Gilarchala, 7 Kewa Mouza Sreepur, Gazipur, Bangladesh 

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

30

Acores

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

50

             In Factory

:

650

In Branch:

:

 

             Total

:

700

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Md. Akbar Hossain

                                9,20,000

Mr. Md. Abdul Wahed

                               7,20,000

Mr. Md. Mainul Hossain

                               12,97,500

Mr. Md. Akram Hossain

                               12,97,500

Mr. Md. Motiur Rahman

                               15,65,000

Mr. Md. Hasan Tariq

                               50,000

Mr. Md. Mostafizur Rahman

                               7,30,000

Mr. Md. Moshiur Rahman

                               5,00,000

 

DIRECTORS

 

Name

Designation

Mr. Md. Mostafizur Rahman

 

Mr. Md. Abdul Wahed

 

Mr. Md. Mainul Hossain

 

Mr. Md. Akram Hossain

 

Mr. Md. Motiur Rahman

 

Mr. Md. Hasan Tariq

 

Mr. Md. Akbar Hossain

 

Mr. Md. Moshiur Rahman

 

 

MANAGEMENT

 

Name

:

Mr. Md. Washiqul Alam

Job Description

:

Assistant Manager 

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01865005006

 

 

 

Name

:

Mr. Sumon Kumer Mohanta

Job Description

:

Senior Executive

Nationality

:

Bangladeshi

Email address

:

sumonmohantapmd@gmail.com

Other details

:

N/A

 

 

 

Name

:

Mr. Mahabub Alam Patowery

Job Description

:

Senior Manager ( Accounts)

Nationality

:

Bangladeshi

Email address

:

mahbub@organic.com.bd

Other details

:

01716616123

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

Exporter

 

Importer

Ö

Services

 

Others

 

 

Range of Products/Item Dealings In:

 

Products

:

Tablets, Capsules , Suspensions 

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

:

India, China.

 

 

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

Nil

Operation Status

:

Active

Member

:

Bangladesh Ashod  Shilpa  Samity.

Dhaka Chamber of Commerce & Industry,           

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

BDT 200 Million

 

Paid-up Capital

:

BDT7,08,00,000

No. of Shares

:

70,80,000

Share Value

:

BDT10.00Each

Main Assets

:

BDT 168.95 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Nil

Subsidiary

:

Nil

Name of  The Group

:

Nil

 

 

BANKING

 

 

Bank Name  

:

Eastern Bank Limited                                                                       

Bank Address

:

Motijheel Local office

Motijhee C/A,Dhaka, Bangladesh

 

Bank Name  

:

Islami Bank Bangladesh Limited

Bank Address

:

Chalk Mogaltuly,Cwakbazar,Dhaka, Bangladesh

 

 

 

Bank Name  

:

Dutch Bangla Bank Ltd Bank

Bank Address

:

Dhanmondi Branch

House No. 500-A/1 (1st floor), Road No.8,

Dhanmondi R. A. Dhaka-1205, Bangladesh

 

 

 

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#22/B, Road#2, Dhanmondi R/A, Dhaka-1205, Bangladesh. It is situated at residential area. 

 

GENERAL COMMENTS

 

The subject company is engaged in manufacturer & Distributor. It is reputed company in this line of business. We recommended that Credit can proceed normally in Moderate amount.

 

 

 

 

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 :

RAS

 

 

Report Prepared by :

TPT

 

               


 

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.