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Report No. : |
302690 |
|
Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
TASNIM CHEMICAL COMPLEX LTD. |
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Registered Office : |
Fresh Vila, House #15, Road #34, Gulshan-1, Dhaka-1212 |
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Country : |
Bangladesh |
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Date of Incorporation : |
09.08.2009 |
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Com. Reg. No.: |
C-79047 |
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Legal Form : |
Private Company |
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|
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Line of Business : |
Manufacturer and Distributor of Caustic
Soda, Hydrochloric Acid and Chlorinated Paraffin Wax. |
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|
|
|
No. of Employees : |
122 |
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 |
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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 |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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
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Correct company Name |
: |
Tasnim Chemical Complex Ltd. |
|
Head Office |
: |
Fresh Vila, House #15, Road #34, Gulshan-1, Dhaka-1212, Bangladesh. |
|
Tel No |
: |
880-2- 9887545, 9889490, 9884791, 9889306, 9884696 |
|
Fax No |
: |
880-2-9884896, 9889361 |
|
E-mail |
: |
info@meghnagroup.biz, manir-tccl@yahoo,com |
|
Website |
: |
www.meghnagroup.biz |
|
Date/ Year of Incorporation |
: |
09.08.2009 |
|
Incorporation
No. |
: |
C-79047 |
|
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) |
|
Year |
Turnover/
Sales |
Assets |
Income |
|
|
July’ 12~June’ 13 |
Tk. 3631.50 Million |
Tk. 7675.50 Million |
Tk 1261.56 Million |
|
|
July’ 13~June’ 14 |
Tk. 3982.24 Million |
Tk. 7860.07 Million |
Tk. 1389.30 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 |
||
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Information Parted
By |
||
|
Name |
: |
Mr. Md. Saifur
Rahman |
|
Designation |
: |
Commercial
Officer |
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Contract No |
: |
N/A |
|
Locations Details |
||
|
Business Address |
: |
Fresh Vila, House #15, Road #34, Gulshan-1, Dhaka-1212, Bangladesh. |
|
Tel No |
: |
880-2- 9887545, 9889490, 9884791, 9889306 |
|
Fax No |
: |
880-2-9884896 |
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E-mail |
: |
info@meghnagroup.biz manir-tccl@yahoo,com |
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Website |
: |
www.meghnagroup.biz |
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Location : |
: Owned |
Ö |
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Rented |
|
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Leased |
|
Area |
3500 |
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 |
: |
Meghna City, Meghna Gath, PS: Sonarghown,
Dist: Naranyangong. Bangladesh. |
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Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
1.5 |
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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Location : |
Owned |
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Rented |
|
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Leased |
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Area |
|
Sq. ft. |
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Employee: |
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No. of Employees |
In Office |
: |
22 |
In Factory |
: |
100 |
|
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In Branch: |
: |
|
Total |
: |
122 |
||
|
Names of
Shareholders |
No. of Share |
|
Mr. Mostafa Kamal |
1000 |
|
Ms. Tahmina Binthe Mostafa |
1000 |
|
Ms. Tanjima Binthe Mostafa |
1000 |
|
Meghna Flour & Dal Mills Ltd |
3, 00,000 |
|
Name |
Designation |
|
Mr. Mostafa Kamal |
Chairman & Managing Director |
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Ms. Tahmina Binthe Mostafa |
Director |
|
Ms. Tanjima Binthe Mostafa |
Director |
|
Name |
: |
Mr. Md. Saifur
Rahman |
|
Job Description |
: |
Commercial
Officer |
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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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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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|||||||
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Exporter |
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Importer |
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Services |
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Others |
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Item Dealings
In: |
||
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Products |
: |
Caustic Soda, Hydrochloric Acid and
Chlorinated Paraffin Wax. |
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Production Capacity |
: |
100 ton Caustic Soda per Day with 85 ton
Chlorine as Bi-Product |
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Last Year Production |
: |
Do. |
Trading Terms:
|
Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
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Selling Terms : |
L/C |
|
Cash |
Ö |
Others |
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|||
|
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Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local factory |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|||
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Trade Markets |
: |
Exports |
: |
N/A |
||||
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Imports |
: |
China, India. |
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Brand Name |
: |
Nil |
||||||
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Certified |
: |
ISO 9001:2000 certificate |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
||||||
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Member |
: |
Dhaka Chamber of Commerce & Industry, Dhaka |
||||||
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Authorized
Capital |
: |
Tk. 50 Crore |
||||||
|
Paid-up Capital |
: |
Tk.3,03,00,000 |
No.
of Shares |
: |
3,03,000 |
Share Value |
: |
Tk.100.00Each |
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Main Assets |
: |
Tk. 7860.07 Million |
||||||
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The subject company don’t submit update
financial figure to local registry office. |
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Sister Concerns |
: |
Kamal Trading Co. Ltd. Bagdad Vegetable Oil Industries Ltd. Meghna Dairy & Food Products Ltd. Mercantile Shipping Lines Ltd. Meghna Flour & Dal Mills Ltd. Meghna Tea Company Meghna Coconut & Mustard Oil Mills Ltd. M.M. Printing & Packaging Company Ltd. G. Shipping Lines Ltd. United Fibre Industries Ltd. United Feeds Ltd. United Edible Oils Ltd. United Mineral Water & Pet Industries Ltd. Unique Cement Industries Ltd. Unique Power Plant Ltd. United Sugar Mills Ltd. Tanveer Oil's Ltd. Tanveer Food Ltd. Tanveer Polymer Industries Ltd. Sonargaon Salt Industries Ltd. Tanveer Steel Mills Ltd. Tanveer Paper Mills Ltd. Janata Flour & Dal Mills Ltd. Meghna Properties Ltd. Everest CNG Refueling & Conversion Ltd. Everest Power Generation Co. Ltd. Meghna Shipbuilders & Dockyard Ltd. Dhaka Plastic Bottle (PET) Ind. Ltd. Global Ad Star Bag Industries Ltd. Tasnim Condensed Milk Ltd. Fresh Cement Industries Ltd. Meghna Seeds Crushing Mills Ltd. Dhaka Securities Ltd. Bangladesh National Insurance Co. Ltd. |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Meghna Group of Industries Ltd. |
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Bank Name
|
: |
Dutch Bangle Bank
Limited |
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Bank Name
|
: |
Uttara Bank Limited |
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Bank Name
|
: |
Mutual Trust Bank Limited |
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Bank Name
|
: |
Premier Bank Limited |
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Bank Name
|
: |
United Commercial Bank Ltd. |
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Bank Name
|
: |
Shahjala Islami Bank Ltd. |
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Dishonored Checks |
:
|
No Record
Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
|
Performance Defaults |
: |
No Record
Found |
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Adverse Local Media Coverage/ Adverse Filling History |
: |
No Record Found |
|
Our representative visited the subject company Head Office at Fresh Vila, House #15,
Road #34, Gulshan-1, Dhaka-1212, Bangladesh. It is situated at commercial
area which is decorated by western furniture. |
|
Based on the financial statements, SC’s financial performance appears
to be Above Average. SC has been in its line of business for about 5 years. Taking
into account its long-standing history, reputation in the market, as well as
its financial condition, we recommend that Credit can proceed promptly in
Fairly large amount. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.