MIRA
INFORM REPORT
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Report No. : |
306915 |
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Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
THE IBN SINA PHARMACEUTICAL INDUSTRY LTD. |
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Registered Office : |
House # 41, Road # 10/A, Dhanmondi, Dhaka-1209 |
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Country : |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
22.12.1983 |
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Com. Reg. No.: |
C-11424 |
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Legal Form : |
Public Listed Co |
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Line of Business : |
Manufacturer, Exporter, Importer and Marketing of Tablets, Capsules & Other Medicine |
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No of Employees : |
3000 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
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IDENTIFICATION
DETAILS
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Correct
company Name |
: |
The Ibn Sina Pharmaceutical Industry Ltd. |
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Head
Office |
: |
House # 41, Road # 10/A, Dhanmondi, Dhaka-1209,
Bangladesh. |
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Tel
No |
: |
88-02-9114710, 9117496, 9138617, 9132521 |
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Fax
No |
: |
Nil |
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E-mail |
: |
info@ibnsinapharma.com, ibnsina@bangla.net |
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Website |
: |
www.ibnsinapharma.com |
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Date/
Year of Incorporation |
: |
22.12.1983 |
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Incorporation No. |
: |
C-11424 |
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|
Legal
Form (General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole
Proprietorships Partnership Not
Registered others (please specify) ________________ |
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Legal
form (Specific) |
: |
LTD CORP
INC CO
others (please specify) ________________ |
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Issuing
Authority |
: |
Registrar
of Joint Stock Companies & Firms
City
Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
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FINANCIALS- SUMMARY |
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Year |
Turnover/ Sales |
Assets |
Income/(Loss) |
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31.12.2013 |
BDT 1,569,928,882
(01.01.2013~30.09.2013) |
BDT 1,096,432,108 |
BDT 45,394,911 (01.01.2013~30.09.2013) |
|
30.09.2014 |
BDT 1,970,236,676
(01.01.2013~30.09.2014) |
BDT 1,078,513,463 |
BDT60,567,831 (01.01.2013~30.09.2014) |
|
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 |
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FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Md. Shahid
Farooqui |
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Designation |
: |
Company Secretary |
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Contract No |
: |
- |
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Locations Details |
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Operating
Address |
: |
House # 41, Road # 10/A, Dhanmondi, Dhaka-1209,
Bangladesh. |
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Tel
No |
: |
88-02-9114710, 9117496, 9138617, 9132521 |
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Fax
No |
: |
Nil |
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E-mail |
: |
info@ibnsinapharma.com, ibnsina@bangla.net |
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Website |
: |
www.ibnsinapharma.com |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
4500 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
Ö |
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Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential
Bldg. |
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Factory: |
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Address |
: |
Shafipur,
Gazipur Bangladesh.
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Tel
No |
: |
88-068-2251403, 2251404 |
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Fax
No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
15 |
Acores |
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Branches: |
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Address |
: |
Nil |
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Tel
No |
: |
Nil |
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Fax
No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
350 |
In Factory |
: |
2650 |
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In Branch: |
: |
- |
Total
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: |
3000 |
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Details: |
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OWNERSHIP/SHAREHOLDERS |
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Names of Shareholders |
No. of Share |
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Mr. Advocate Mujibur Rahman |
67284 |
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Mr. Prof. A.N.M.A. Zaher |
67476 |
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Mr. Commodore (Retd.) M.A. Rahman |
69336 |
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Mr. Mir Quashem Ali |
70716 |
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Mr. Shah Abdul Hannan |
69696 |
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Mr. Prof. Dr. A.K.M. Sadrul Islam |
63756 |
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Mr. Prof. Dr. Matiur Rahman |
1500
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Mr. Prof. Dr. Shah Md. Bulbul Islam |
360 |
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Mr. Dr. Shamsuddin Ahmed |
65076 |
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General Public |
20973876 |
DIRECTORS |
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Name |
Designation |
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Mr. Shah Abdul Hannan |
Chairman |
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Mr. Prof. A.N.M.A. Zaher |
Managing Director |
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Mr. Commodore (Retd.) M.A. Rahman |
Director |
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Mr. Prof. Dr. A.K.M. Sadrul Islam |
Finance Director |
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Mr. Prof. Dr. Chowdhury Mahmud Hasan |
Director |
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Mr. Prof. Dr. Matiur Rahman |
Director |
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Mr. Prof. Dr. Shah Md. Bulbul Islam |
Director |
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Mr. Md. Abdus Salam |
Independent Director |
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J Mr. b. Abdur Raquib |
Independent Director |
Management
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Name |
: |
Mr. Md. Shahid Farooqui |
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Job
Description |
: |
Company Secretary |
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Nationality |
: |
Bangladeshi |
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Email
address |
: |
N/A |
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Other
details |
: |
N/A |
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Name |
: |
Prof. Dr. A. K. M. Sadrul lslam |
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Job
Description |
: |
Finance Director |
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Nationality |
: |
Bangladeshi |
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Email
address |
: |
N/A |
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Other
details |
: |
N/A |
BUSINESS OPERATIONS |
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Nature
of Activity : |
Manufacturer |
Ö |
Trader |
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Marketing |
Ö |
Distributor |
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Exporter |
Ö |
Importer |
Ö |
Services |
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Others |
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Item Dealings In: |
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Products |
: |
Tablets, Capsules & Other Medicine |
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Production
Capacity |
: |
N/A |
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Last Year Production |
: |
N/A |
Trading Terms:
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Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit
: |
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30
days |
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60
days |
Ö |
90
days |
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days |
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Selling
Terms : |
L/C |
Ö |
Cash |
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Others |
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Credit
: |
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30
days |
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60
days |
Ö |
90
days |
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days |
DETAILED DATA |
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Trade
Reference & Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
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N/A |
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Trade Markets |
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Exports |
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Vietnam, Yemen, Cambodia, Myanmar, Sri
Lanka. |
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Imports |
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China, India, Pakistan, Japan, Indonesia. |
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Brand Name |
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N/A |
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Certified |
: |
ISO 9001:2000 |
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Auditors |
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Huda Hossain & Co. Chartered Accountants 230, New Elephant Road,
(4th Floor) Dhaka-1205, Bangladesh |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE |
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Authorized
Capital |
: |
BDT 500 Million |
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Paid-up
Capital |
: |
BDT 213,840,000 |
No. of Shares |
: |
2,13,84,000 |
Share Value |
: |
BDT 10.0Each |
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Main
Assets |
: |
BDT 1,078,513,463 |
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FINANCIAL STATEMENT- DETAILED
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Balance Sheet : |
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Currency |
:
Tk. |
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Denomination |
:
1 |
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Financial Year Ending |
:
30thS eplembe2r0, 14 |
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Income Statement : |
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Currency |
:
Tk. |
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Denomination |
:
1 |
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Financial Year Ending |
:
30thS eplembe2r0, 14 |
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ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES |
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Sister
Concerns |
: |
IBN Sina Hospital (100
beds) IBN Sina Diagnostic Lab IBN Sina Imaging Centre IBN Sina Consolation
Centre IBN Sina Medical Check-Up IBN Sina Medical College IBN Sina Pharmaceuticals Industry |
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Subsidiary |
: |
Nil |
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Name of
The Group |
: |
IBN Sina Trust |
BANKING |
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Bank
Name |
: |
Islami Bank Bangladesh Ltd. Al-Arafah Islami Bank Ltd. Prime Bank Ltd First Security Islami Bank Ltd |
ADVERSE DATA MONITORING |
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Dishonored Checks |
: |
No Record
Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record
Found |
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Adverse Local Media Coverage/
Adverse Filling History |
: |
No Record Found |
SITE VISIT COMMENTARY |
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Our Representative Visited the subject
company Head office which is situated at House # 41, Road # 10/A, Dhanmondi,
Dhaka-1209, Bangladesh. It is situated at residential area. |
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 can precede promptly Fairly large amount. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.73 |
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|
1 |
Rs. 94.65 |
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Euro |
1 |
Rs. 70.78 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.