MIRA INFORM REPORT

 

 

Report No. :

312718

Report Date :

16.03.2015

 

IDENTIFICATION DETAILS

 

Name :

ALLPLAST BANGLADESH LTD

 

 

Registered Office :

Pran-RFL Tower, 105/1, Ga, Middle Badda, Dhaka-1212

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

08.03.2009

 

 

Com. Reg. No.:

C-75251

 

 

Legal Form :

Private Co

 

 

Line of Business :

Manufacturer, Exporter and Distributor Polly shopping bag, Agricultural nets, Cutleries and other plastic household products

 

 

No. of Employee :

250

 

 

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

 

EXECUTIVE SUMMARY

 

                               

Order Date

:

12-Mar-15

Order Ref. No

:

312718

 

IDENTIFICATION DETAILS

Correct company Name

:

Allplast Bangladesh Ltd

Head Office

:

Pran-RFL Tower, 105/1, Ga, Middle Badda, Dhaka-1212, Bangladesh.

Tel No

:

88-02-9881792, 8835546-50, 8819693

Fax No

:

88-02-8837464

E-mail

:

coo.apbl@prangroup.com

Website

:

www.apblbd.com

Date/ Year of Incorporation

:

08.03.2009

Incorporation No.

:

C-75251

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

BDT  450 Million

BDT  1561.95 Million

BDT  28.40 Million

July’ 13~June’ 14

BDT 494 Million

BDT 1613.20 Million

BDT 22.27 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. AHM Kamruzzaman

 

Designation

Asst. General Manager (Supply Chain).

 

Contract No

-

 

 

 

Locations Details

 

Operating Address

:

Pran-RFL Tower, 105/1, Ga, Middle Badda, Dhaka-1212, Bangladesh.

Tel No

:

88-02-9881792, 8835546-50, 8819693

Fax No

:

88-02-8837464

E-mail

:

coo.apbl@prangroup.com

Website

:

www.apblbd.com

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

5600

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

:

Mulgaon, Sandhanpara, Kaligong, Gazipur, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Registered Address:

Address

:

Property Heights, 12 R.K. Mission Road, G.P.O.Box: 83, Dhaka-1203, Bangladesh.                                                                                                                                                                              

Tel No

:

88-02-9563126

Fax No

:

88-02-9559415

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

25

In Factory

:

225

In Branch:

:

-

Total

:

250

Details:

 

 

 

 

OWNERSHIP/SHAREHOLDERS

 

Names of Shareholders

 No. of Share

Mr. Maj Gen Amjad Khan Chowdhury

620

Mrs. SabihaAmzad

 50

Mr. Ahsan Khan Chowdhury

 330

Banga Building Materials Ltd.

49000

 

 

DIRECTORS

 

Name

Designation

Mr. Ahsan Khan Chowdhury

Managing Director

Mr. Maj Gen Amjad Khan Chowdhury

Director

Mrs. SabihaAmzad

Director

 

 

MANAGEMENT

 

Name

:

Mr. AHM Kamruzzaman

Job Description

:

Asst. General Manager (Supply Chain).

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. AbulKalam Azad

Job Description

:

Sub Asst. Manager.

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

-

 

Name

:

Mr. Md. Miraj

Job Description

:

Deputy Commercial Manager.

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

-

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

 

Range of Products:

 

Products

:

Polly shopping bag, Agricultural nets, Cutleries and other plastic household products.

Production Capacity

:

5000 MT's 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

 

 

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

:

Middle East

 

Imports

:

China

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active.

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT200 Million

 

Paid-up Capital

:

BDT 50, 00,000

No. of Shares

:

50, 000

ShareValue

:

BDT 100.00Each

Main Assets

:

BDT  1613.20 Million

 

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Pran Agro ltd.

Pran Dairy Ltd.

Pran Foods Ltd.

RFL Electronics

Regal Furniture

Rangpur Industries

Rangpur Foundry Ltd.

Durable Plastic Ltd.

Bangladesh Lift Industries Ltd.

Agricultural Marketing Co. Ltd

Banga Plastic International Ltd.

Banga Building Material Ltd.

Subsidiary

:

Nil

Name of  The Group

:

Pran-Rfl Group.

 

 

BANKING

 

Bank Name  

:

JamunaBank Ltd. 

Bank Address

:

Dilkusha Branch,

Dilkusha C/A, Dhaka-1000

Bangladesh

 

Bank Name  

:

Hong Kong Shanghai banking Corporation   

Bank Address

:

Dhaka Main Office

Anchor Tower, 108, BirUttam C R Dutta Road,

Dhaka – 1205, Bangladesh

Tel: 88-02-9660536-43   

Fax: 8802- 9660554, 9669457

 

Bank Name  

:

Islami Bank Bangladesh Ltd.

Bank Address

:

Motijheel Branch.

17, Motijheel C.A.

Dhaka   01811408251,

9566464, 9560940

9560876

 

Bank Name  

:

Arab Bangladesh Bank Ltd. 

Bank Address

:

Principal Branch,

30-31, Dilkusha C/A, Dhaka

Tel: 9560312-6, 9560887-8

E-mail: pbbrmg@abbank.com.bd                                                                                           

 

 

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 Pran-RFL Tower, 105/1, Ga, Middle Badda, Dhaka-1212, Bangladesh. Its office is situated at Residential area which is well decorated.

 

 

GENERAL COMMENTS

 

Established in Mar. 2009, Subject is mainly engaged in manufacturer & distributor. Having been in operation for several years, Subject maintains acceptable business volume.

 

                       


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.67

UK Pound

1

Rs.93.16

Euro

1

Rs.66.42

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

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.