MIRA INFORM REPORT

 

 

Report No. :

302663

Report Date :

12.01.2015

 

IDENTIFICATION DETAILS

 

Name :

DESHBANDHU SUGAR MILLS LTD.

 

 

Registered Office :

Mostafa Centre House #59, Road #27, G.P.O Box-4156, Banani, Dhaka-1213

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

17.04.2002

 

 

Com. Reg. No.:

C-45560

 

 

Legal Form :

Private Company

 

 

Line of Business :

Distributor and Exporter of Sugar.

 

 

No. of Employees :

380

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

Deshbandhu Sugar Mills Ltd.

Head Office

:

Mostafa Centre, House # 59, Road# 27, G.P.O Box-4156, Banani,

Dhaka-1213, Bangladesh.

Tel No

:

88-02-8816731, 8811239, 8816763, 9551995

Fax No

:

88-02-8815571

E-mail

:

info@deshbandhugroup.com.bd, commercial@deshbandhugroup.com.bd

Website

:

www.deshbondhugroup.com.bd

Date/ Year of Incorporation

:

17.04.2002

Incorporation No.

:

C-45560

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. 1461.35 Million

Tk. 3947.59 Million

Tk. 161.95 Million

July’ 13~June’ 14

Tk. 3847.70 Million

Tk. 5392.32 Million

Tk. 134.66 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. Mohiuddin Ahmed.

Designation

:

Manager(Commercial)

Contract No

:

N/a

 

 

                                                               Locations Details

Operating Address

:

Mostafa Centre, House # 59, Road# 27, G.P.O Box-4156, Banani,

Dhaka-1213, Bangladesh.

Tel No

:

88-02-8816731, 8811239, 8816763, 9551995

Fax No

:

88-02-8815571

E-mail

:

info@deshbandhugroup.com.bd, commercial@deshbandhugroup.com.bd

Website

:

www.deshbondhugroup.com.bd

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

2400

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

:

Kawadi, Charshindur, Palash, Narshingdi, Bangladesh.

Tel No

:

88-01713375233

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

30

Acres

 

 

Registered Address:

Address

:

Bcic Bhaban (3rd & 6th Floor), 30-31, Dilkkusha Commercial Area, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9560174

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

30

In Factory

:

350

In Branch:

:

-

Total

:

380

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Golam Mostafa

                               59999700

Mr. Golam Rahman

                               39999800

Mr. Md. Akheruzaman

                                         100

Mr. Late-Golam Rasul Putul

                                         100

Mr. Md. Mainul Islam Lal

                                         100

Deshbandhu Polymer Ltd

                                         100

Deshbandhu Distillaries Ltd

                                           50

Deshbandhu Oil Refinery Ltd

                                           50

 

 

DIRECTORS

 

Name

Designation

Mr. Golam Mostafa

Chairman

Mr. Golam Rahman

Managing Director

Mr. Md. Akheruzaman

Director

Mr. Late-Golam Rasul Putul

Director

Mr. Md. Mainul Islam Lal

Director

 

 

MANAGEMENT

 

Name

:

Mr. Mohiuddin Ahmed.

Job Description

:

Manager(Commercial)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Provas Chokroborti.

Job Description

:

General Manager.

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Refinery

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

Item Dealings In:

 

Products

:

Sugar 

Production Capacity

:

300 Tonnes per day.

Last Year Production

:

Do.

 

 

Trading Terms:

 

Purchasing Terms:

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

Selling Terms      :

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

 

DETAILED DATA

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

Europe

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports

:

N/A

 

Imports

:

China, India.

 

 

 

Brand Name

:

Nil

Certified

:

ISO 9001:2000

Auditors

:

N/A

Operation Status

:

Active.

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk. 300 Crore.

 

Paid-up Capital

:

Tk. 100, 00,00,000

    No. of Shares

:

10, 00,00,000

Share Value

:

Tk.10.0Each

Main Assets

:

Tk. 5392.32 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

Summery Given

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Southeast Sweaters Limited.

Deshbandhu Distilleries Ltd.

Commodities Trading Company.

Fertilizer Marketing Corporation.

M.R. Trading.

MDI Solution.

Multi International Ltd.

Moru Trade.

Rapa Plaza.

Deshbandhu Polymer Limited. 

Deshbandhu Cement Mills Ltd.

Sahera Auto Rice Mills Limited.

Deshbandhu Security Services Ltd.

G.M. Properties Limited.

Deshbandhu Power Plant Limited.

Deshbandhu Media Limited.

Deshbandhu Shipping Ltd.

Fertilizer Marketing Corporation.

Subsidiary

:

N/A

Name of  The Group

:

Deshbandhu group.

 

 

BANKING

 

Bank Name  

:

Southeast Bank Ltd.

Bank Address

:

Principal Branch.

1, Dilkusha C/A, Dhaka - 1000

Phone: 9550081, 9567271 - 2, 9563101

Fax: 88 - 02 - 9551575

Tlx: 632463 SBLPB BJ

Swift: SEBDBDDHSPB

 

Bank Name  

:

Dhaka Bank Ltd.

Bank Address

:

Forging Exchange Branch.

Biman Bhaban (1st floor), 100 Motijheel C/A, Dhaka-1000

Tel: +8802 9571006-10

Fax: +8802 7169328

E-mail: fex@dhakabank.com.bd

 

Bank Name  

:

Mercantile Bank Ltd.

Bank Address

:

Motijheel Branch.

Malek Mansion

128, Motijheel C/A, Dhaka-1000

Phone : 7161923-4, 9570131

Mobile : 01819-260289

Fax : 88-02-7161925, HOB : 9561178

 

 

 

Bank Name  

:

National Credit and Commerce Bank Ltd.

Bank Addres

:

Bijoy Nagor Branch.

 

 

 

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 Mostafa Centre, House # 59, Road# 27, G.P.O Box-4156, Banani, Dhaka-1213, Bangladesh. Its office is situated at Residential area which is well decorated.

 

 

GENERAL COMMENTS

 

SC is engaged in Refinery, Exporter & distributors in its line of business.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.40

UK Pound

1

Rs.94.17

Euro

1

Rs.73.61

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

               

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.