|
Report No. : |
312680 |
|
Report Date : |
17.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
TASNIM CONDENSED MILK LIMITED |
|
|
|
|
Registered Office : |
Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212 |
|
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Country : |
Bangladesh
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Date of Incorporation : |
15.10.2009 |
|
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|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Importer of Condensed Milk |
|
|
|
|
No. of Employees : |
820 |
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 |
IDENTIFICATION DETAILS
|
||
|
Correct company Name |
: |
TASNIM CONDENSED MILK LIMITED |
|
Head Office |
: |
Fresh Villa, House# 15, Road# 34,
Gulshan-1, Dhaka-1212, Bangladesh. |
|
Tel No |
: |
88-02-9887545,
9889490 |
|
Fax No |
: |
88-02-9884896 |
|
E-mail |
: |
info@meghnagroup.biz |
|
Website |
: |
www.meghnagroup.biz |
|
Date/ Year of Incorporation |
: |
15.10.2009 |
|
Incorporation No. |
: |
C-81028 |
|
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 455 Million |
BDT
32.75 Million |
BDT
18.20 Million |
|
July’ 13~June’
14 |
BDT
591 Million |
BDT
39.80 Million |
BDT
23.64 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
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Information Parted By |
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|
|
Name |
: |
A.K.M. Fazlul
Hoque, |
|
Designation |
: |
Sr. Executive
(SCM) |
|
Contract No |
: |
N/A |
|
Locations
Details |
||
|
Operating Address |
: |
Fresh Villa, House# 15, Road# 34,
Gulshan-1, Dhaka-1212, Bangladesh |
|
Tel No |
: |
88-02-9887545,
9889490. |
|
Fax No |
: |
88-02-9884896 |
|
E-mail |
: |
info@meghnagroup.biz |
|
Website |
: |
www.meghnagroup.biz |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
4000 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
|
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 Ghat, Sonargoan, Narayangonj,
Bangladesh |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
75000 |
Sq. ft. |
|
Branches: |
|
|
|
Address |
: |
Fresh Cottage,
House# 48, Garib-E-Newaz Avenue, Sector#13, Uttara, Dhaka-1230,
Bangladesh |
|
Tel No |
: |
88-02-7912703,
7912718, 7912719. |
|
Fax No |
: |
88-02-7912381,
7912382. |
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Employee: |
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|||||||
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No. of Employees |
In Office |
: |
85 |
In Factory |
: |
735 |
||
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In Branch: |
: |
- |
Total |
: |
820 |
|||
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Details: |
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|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Mr. Mostofa Kamal |
1000 |
|
United Sugar Mills Ltd |
1000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Mostofa Kamal |
Managing Director |
|
Mrs. Beauty Akter |
Director |
|
Mr.Tanveer Ahmed Mostofa |
Director |
|
Ms. Tanjima Bente Mostofa |
Director |
|
Ms. Thamen Bente Mostofa |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Zoynul
Adedeen |
|
Job Description |
: |
Senior Deputy
General Manager |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
A.K.M. Fazlul
Hoque, |
|
Job Description |
: |
Sr. Executive
(SCM) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS
OPERATIONS
|
||||||||
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
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|||||||
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Exporter |
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Importer |
Ö |
Services |
|
Others |
|
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Range of
Products: |
||
|
|
||
|
Products |
: |
Condensed Milk |
|
Production Capacity |
: |
155000 Carton per month |
|
Last Year
Production |
: |
Do |
Trading Terms:
|
Purchasing Terms: |
L/C |
Ö |
Cash |
|
Others |
|
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|||
|
|
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 |
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||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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||||
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Trade Markets |
: |
Exports |
: |
N/A |
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|||||
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Imports |
: |
China, India, Australia |
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|||||||
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Brand Name |
: |
N/A |
||||||||
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Certified |
: |
N/A |
||||||||
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Auditors |
: |
N/A |
||||||||
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Operation Status |
: |
Active |
||||||||
|
Member |
: |
N/A |
||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
BDT 300 Million |
|
||||||
|
Paid-up Capital |
: |
BDT
2, 00,000 |
No. of Shares |
: |
2000 |
Share
Value |
: |
BDT 100.00Each |
|
|
Main Assets |
: |
BDT
39.80 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
The subject company don’t submit update full
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
United Feeds Ltd Tanveer Oil's Ltd Tanveer Food Ltd. Dhaka Securities Ltd. Unique Infoway Ltd Meghna Tea Company G.Shipping Lines Ltd. United Sugar Mills Ltd United Edible Oils Ltd Kamal Trading Co. Ltd. Meghna Properties Ltd. Tanveer Steel Mills Ltd. Tanveer Paper Mills Ltd. Unique Power Plant Ltd United Fibre Industries Ltd Sonargaon Salt Industries Ltd. Janata Flour & Dal Mills Ltd. Fresh Cement Industries Ltd. Tasnim Chemical Complex Ltd. Mercantile Shipping Lines Ltd Meghna Flour & Dal Mills Ltd. Unique Cement Industries Ltd Tanveer Polymer Industries Ltd. Meghna Seeds Crushing Mills Ltd. Everest Power Generation Co. Ltd. Dhaka Plastic Bottle (PET) Ind. Ltd Global Ad Star Bag Industries Ltd Bagdad Vegetable Oil Industries Ltd. Meghna Dairy & Food Products Ltd. Meghna Shipbuilders & Dockyard Ltd. Bangladesh National Insurance Co.
Ltd. Meghna Coconut & Mustard Oil Mills
Ltd. M.M. Printing & Packaging Company Ltd. United Mineral Water & Pet Industries
Ltd Everest CNG Refueling & Conversion Ltd |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Meghna Group of Industries |
BANKING
|
|
|
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Bank Name
|
: |
Islami Bank Bangladesh Ltd. |
|
Bank Address |
: |
Dilkusha Branch slami Bank Tower, 40 Dilkusha C/A,
Dhaka-1000 Phone: (02) 9563182, PABX-(02) 9563040 Mobile: 01711693908, 01714034155 Fax: (02) 9564532 Email: hocc@islamibankbd.co |
|
|
||
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Bank Name
|
: |
Sonali Bank Ltd |
|
Bank Address |
: |
Local Office 35-44, Motijheel C/A Dhaka, Dhaka Tel: 88-02-89553382, 9551482,
988-02-9568002 |
|
Bank Name
|
: |
Jamuna Bank Ltd. |
|
Bank Address |
: |
Motijheel Branch Surma Tower, 59/2, Purana Paltan,
Dhaka-1000 Tel: 88-02-9554474, 9551606 |
|
|
||
|
Bank Name
|
: |
Eastern Bank Ltd. |
|
Bank Address |
: |
Head Office Jiban Bima Bhaban 10, Dilkusha C/A Dhaka – 1000 Phone:88- 02-9556360 |
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 address
which is situated at Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212,
Bangladesh. It is situated at residential area which is decorated by modern
furniture. |
GENERAL
COMMENTS
|
|
The subject
company is engaged in manufacturer & Distributor. It is reputed company
in this line of business. We recommended that Credit can proceed normally in
Moderate amount. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.82 |
|
|
1 |
Rs.92.83 |
|
Euro |
1 |
Rs.66.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.