MIRA INFORM REPORT

Report No. :	323423
Report Date :	23.05.2015

IDENTIFICATION DETAILS

Name :	AFTAB FEED PRODUCTS LIMITED

Registered Office :	Islam Chamber (13^th Floor), 125/A, Motijheel C/A, Dhaka-1000

Country :	Bangladesh

Date of Incorporation :	10.12.2000

Com. Reg. No.:	C-42026

Legal Form :	Private Co

Line of Business :	Subject is manufacturer and distributor of feeds

No. of Employee :	165

RATING & COMMENTS

MIRA’s Rating :

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 – March 31, 2015

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Bangladesh

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, accounted for more than 80% of total exports and surpassed $18 billion in 2014. 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 $14 billion and 8% of GDP in 2014 - are the largest contributors to Bangladesh’s current account surplus and rising foreign exchange holdings.

Source : CIA

Company name

AFTAB FEED PRODUCTS LIMITED



*IDENTIFICATION DETAILS*

Correct company Name	:	AFTAB FEED PRODUCTS LIMITED
Head Office	:	Islam Chamber (13^th Floor), 125/A, Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	88-02-9569092, 9568903, 9565794
Fax No	:	88-02-9566306
E-mail	:	info@abflbd.com
Website	:	Nil
Date/ Year of Incorporation	:	10.12.2000
Incorporation No.	:	C-42026
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	BDT 2961.17 Million	BDT 1410.20 Million	BDT 258.94 Million
July’ 13~June’ 14	BDT 2395.65 Million	BDT 1587.14 Million	BDT 137.76 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

Information Parted By

Name

Mr. Mamunur Rahman

Designation

Asst. Manager (Public Relation).

Contract No

N/A

*Locations Details*
Operating Address	:	Islam Chamber (13^th Floor), 125/A, Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	88-02-9569092, 9568903, 9565794
Fax No	:	88-02-9566306
E-mail	:	info@abflbd.com
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

2500

Sq. ft.

Type of Office :	: Commercial Office Bldg.	Ö		Semi-commercial office Bldg.
	Retail shop		Industrial Park
	Business Center		Home Office
	Residential Bldg.

Factory:
Address	:	Rupshi, Rupgonj, Narayangonj, Bangladesh.
Tel No	:	88-01713060977, 01711848005
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

43900

Sq. ft.

Sales Centre:
Address	:	Islam Chamber (12th Floor), 125/A, Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	35	In Factory	:	130
	In Branch:	:	-	Total	:	165
Details:


Names of Shareholders	No. of Share
Mr. Manzurul Islam	1800
Mr. M.A. Wadud	100
Mr. Abu Lutfe Fazle Rahim Khan	100

Name

Designation

Mr. Manzurul Islam

Chairman

Mr. Abu Lutfe Fazle Rahim Khan

Managing Director

Mr. M.A. Wadud

Director

Name

Mr. Mamunur Rahman

Job Description

Asst. Manager (Public Relation).

Nationality

Bangladeshi.

Email address

N/A

Other details

N/A


Nature of Activity :	Manufacturer	Ö	Trader	Dealer	Distributor	Ö

	Exporter		Importer	Services	Others

Item Dealings In:

Products	:	Feeds
Production Capacity	:	25000 MT per month
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		Cash	Ö	Others
	Credit :	Ö	30 days		60 days		90 days			days

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.

Brand Name

N/A

Certified

N/A

Auditors

N/A

Operation Status

Active.

Member

Dhaka Chamber of Commerce & Industry.

Authorized Capital

BDT 500 Million

Paid-up Capital

BDT 2, 00,000

No. of Shares

2000

Share Value

BDT 100.00Each

Main Assets

BDT 1587.14 Million

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


Sister Concerns	:	Aftab Hatchery Ltd. Eastern Housing Ltd. Aftab Feeds Limited Eastern Housing Limited Aftab G.P. Farms Limited Navana Pharmaceuticals Ltd Navana Health Care Limited Jahurul Islam Medical College Aftab Bahumukhi Farms Limited Bengal Development Corporation Islam Brothers Properties Limited
Subsidiary	:	Nil
Name of The Group	:	Islam Group


Bank Name	:	Hong Kong Shanghai Banking Corporation
Bank Address	:	Motijheel Branch. City Centre, 103 Motijheel C/A, Dhaka - 1000 Tel: 8802-9553053-6 Fax: 88-02-9568122, 9568236, 9550173


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

Our Representative Visited the subject company Head office which is situated at Islam Chamber (13th Floor), 125/A, Motijheel C/A, Dhaka-1000, Bangladesh. It is situated at commercial area which is a well decorated modern office.

Established in Dec. 2000, Subject is mainly engaged in Manufacturer, Distributor & Seller. Having been in operation for several years, Subject maintains acceptable business volume. Subject enjoys some recognition and impact in the line.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.57
UK Pound	1	Rs.99.67
Euro	1	Rs.70.93

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	ASH

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.

MIRA INFORM REPORT

Company name

Unit