MIRA INFORM REPORT

 

 

Report No. :

310061

Report Date :

03.03.2015

 

IDENTIFICATION DETAILS

 

Name :

NOVELTA BESTWAY PHARMACEUTICALS LIMITED

 

 

Registered Office :

House # 33, Road # 4, Dhanmondi R/A, Dhaka-1219,

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

12.01.1958

 

 

Legal Form :

Private Co LTD

 

 

Line of Business :

Subject is manufacturer, importer and distributor of anti-ulcerates, antibiotics, vitamins & minerals, pain management.

 

 

No. of Employee :

350

 

 

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

 

 

 

Comments

 

The subject company changed their address of Wings Center(5th Fl) House -55 Road 4/A Dhanmondi R/A ,Dhaka Fac Hemayetpur, Savar, Dhaka Bangladesh

 

 

IDENTIFICATION DETAILS

Correct company Name

:

NOVELTA BESTWAY PHARMACEUTICALS LIMITED

Previous Name       

:

Sapphire Pharmaceuticals Limited

Head Office

:

House # 33, Road # 4, Dhanmondi R/A, Dhaka-1219, Bangladesh 

Tel No

:

88-02-9613246-49

Fax No

:

88-02-9613245

E-mail

:

info@nbplbd.com

Website

:

www.nbplbd.com

Date/ Year of Incorporation

:

12.01.1958

Incorporation No.

:

C-934

Commercial production

:

2010

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

31st December, 2013

BDT 276.95Million

BDT 257.58 Million

BDT 8.15 Million

31st December, 2014

BDT 315.38Million

BDT 279.50 Million

BDT 11.30 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

 

 

 

 

 

 

 

 

 

 

 

Information Parted By

 

 

 

Name

:

Mustafa Al Mamun

Designation

:

Executive ( Commercial)           

Contract No

:

N/A

 

 

 

 

 

 

 

 

Locations Details

Operating Address

:

House # 33, Road # 4, Dhanmondi R/A, Dhaka-1219, Bangladesh 

Tel No

:

88-02-9613246-49

Fax No

:

88-02-9613245

E-mail

:

info@nbplbd.com

Website

:

www.nbplbd.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

12,000

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

:

Hemayatpur , Savar, Bangladesh

Tel No

:

88-02-

Fax No

:

N/A

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

10940

Sq. ft.

 

Branches:

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

120

             In Factory

:

230

In Branch:

:

 

             Total

:

350

Details:

 

                    

 

 

 

 

 

Rounded Rectangle: OWNERSHIP/SHAREHOLDERS

         Names of Shareholders

                      No. of Share     

Md. Mizanur Rahman

                                    400

Mollick Mahmood Hossain        

                                    400

Tania Sultana Tanvi

                                    300

Ashok Kumar Chakraborty

                                    300

Hasan Imam Zahid

                                    300

Md. Fariduddin Kawsar Khan

                                    300

 

 

 

 

 

Name

Designation

Md. Mizanur Rahman    

Chairman

Mollick Mahmood Hossain

Managing Director

Tania Sultana Tanvi

Director

Ashok Kumar Chakraborty

Director

Hasan Imam Zahid

Director

Md. Fariduddin Kawsar Khan

Director

 

 

Rounded Rectangle: MANAGEMENT 

 

 

Name

:

Mustafa Al Mamun

Job Description

:

Executive ( Commercial)           

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Md. Fariduddin Kawsar Khan

Job Description

:

Director Planning & Commercial

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

Rounded Rectangle: BUSINESS OPERATIONS 

 

 

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

Ö

Services

 

Others

 

 

Range of Products:

Products

:

Anti-Ulcerates, antibiotics, Vitamins & Minerals, Pain Management.     

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

 

 

Rounded Rectangle: 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

:

N/A

 

 

Rounded Rectangle: CAPITAL STRUCTURE 

 

 

 

Authorized Capital

:

BDT 50 Million

 

Paid-up Capital

:

BDT 200000

 No. of Shares

:

2000

Share Value

:

BDT100.00Each

Main Assets

:

BDT 279.50 Million

 

 

 

Rounded Rectangle: FINANCIAL STATEMENT- DETAILED
 

 

 

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

 

 

Rounded Rectangle: ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
 

 

 

Sister Concerns

:

Brand Bestway.

D & S Mode.

Radio Bestway. 

Universal IT Ltd.

Bestway Agro Ltd.

Bestway University

Bestway Powertech Ltd.

Bestway Baueco System

Bestway Foundation Ltd.

Bestway International INC

Bestway Bazaar.Com Ltd.

Bestway TAQWA foundation

Bestway Land Properties Ltd.

Bestway Nationwide Housing Ltd

Bestway Resort and Tourism Ltd

Bestway Design and Development Ltd

Bestway Media and Communications Ltd

Bestway Construction and Engineering Ltd

Bestway Institute of Research and Development

Bestway Trade and Economic Development Ltd

Bestway Co-operative and Commercial Credit Ltd

Subsidiary

:

N/A

Name of  The Group

:

Bestway Group

 

 

Rounded Rectangle: BANKING 

 

 

 

 

 

Bank Name  

:

Islami Bank Bangladesh Ltd

 

Bank Address

:

Dhanmondi

AD Branch Nilu Squire, Sat Masjid Road,

Dhanmondi R/A, Dhaka-1209

Phone: 88-02-9125316, 9129333

Fax: 88-02-9122785

 

 

Rounded Rectangle: 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

 

 

 

 

Rounded Rectangle: SITE VISIT COMMENTARY

Our representative visited the subject company Head Office which is situated at House # 33, Road # 4, Dhanmondi R/A, Dhaka-1219, Bangladesh. It is Siuated at Residential area.   

 

 

 

 

 

Rounded Rectangle: GENERAL COMMENTS

The subject company is engaged in manufacturer & Distributor. It is reputed company in this line of business.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.82

UK Pound

1

Rs.95.26

Euro

1

Rs.69.13

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.