|
Report No. : |
323094 |
|
Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEW HOPE AGROTECH BANGLADESH LTD |
|
|
|
|
Registered Office : |
Bhangnahati, Sreepur, Gazipur |
|
|
|
|
Country : |
Bangladesh
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Date of Incorporation : |
09.11.2009 |
|
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|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer and Distributor of Poultry feeds,
Fish Feeds, Cattle Feeds |
|
|
|
|
No. of Employees : |
110 |
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, 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 |
IDENTIFICATION DETAILS
|
||
|
Correct company Name |
: |
NEW HOPE AGROTECH BANGLADESH LTD |
|
Head Office |
: |
Bhangnahati, Sreepur, Gazipur, Bangladesh |
|
Tel No |
: |
88-01719313236, 01914444896, 01718838920 |
|
Fax No |
: |
N/A |
|
E-mail |
: |
nhsnbdimport@newhope.com |
|
Website |
: |
www.newhopegroup.com |
|
Date/ Year of Incorporation |
: |
09-11-2009 |
|
Incorporation No. |
: |
C-80602 |
|
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 |
|
July’ 12~June’
13 |
BDT 289 Million |
BDT 137.50
Million |
BDT 13.87
Million |
|
July’ 13~June’
14 |
BDT 310
Million |
BDT 156.39
Million |
BDT 18.90
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 |
: |
Mr. Md. Zahid Hossain |
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Designation |
: |
Officer (
Procurement) |
|
Contract No |
: |
N/A |
|
Locations Details |
||
|
Operating Address |
: |
Bhangnahati, Sreepur, Gazipur, Bangladesh |
|
Tel No |
: |
88-01719313236, 01914444896, 01718838920 |
|
Fax No |
: |
N/A |
|
E-mail |
: |
nhsnbdimport@newhope.com |
|
Website |
: |
www.newhopegroup.com |
|
Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
3500 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
Retail shop |
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Industrial Park |
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|
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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 |
: |
Char Bausia, Gazaria Munshiganj,
Bangladesh. |
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Tel No |
: |
N/A |
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Fax No |
: |
N/A |
|
Owned |
Ö |
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Rented |
|
|
Leased |
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Area |
2.5 |
Acores |
|
Branches: |
|
|
|
Address |
: |
Nil |
|
Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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|||||||
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No. of Employees |
In Office |
: |
10 |
In Factory |
: |
100 |
||
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In Branch: |
: |
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Total |
: |
110 |
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Details: |
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|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
New Hope Feed Mill Bangladesh Ltd. |
50000 |
|
New Hope Liuhe Co. Ltd. |
850000 |
|
Mr. Deng Xiaohua |
50000 |
|
Mr. Dang Zhimi |
50000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Du Jiangping |
Managing Director |
|
Mr. Dang Zhimin |
Director |
|
Mr. Huang Daiyun |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Zahid Hossain |
|
Job Description |
: |
Officer (
Procurement) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01719313236 |
|
|
|
|
|
Name |
: |
Mr. Md. Shimul |
|
Job Description |
: |
Assistant Manager
(Accounts) |
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Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01914444896 |
|
|
|
|
|
Name |
: |
Mr.Arif Uddin
Khan |
|
Job Description |
: |
Executive (
Procurement) |
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Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01718838920 |
BUSINESS
OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
|
Services |
|
Others |
|
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Range of
Products: |
||
|
|
||
|
Products |
: |
Poultry feeds, Fish Feeds, Cattle Feeds |
|
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 |
v |
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 |
|
||||
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Trade Markets |
: |
Exports |
: |
N/A |
|
|||||
|
Imports |
: |
China, India |
|
|||||||
|
Brand Name |
: |
Nil |
||||||||
|
Certified |
: |
Nil |
||||||||
|
Auditors |
: |
Nil |
||||||||
|
Operation Status |
: |
Active |
||||||||
|
Member |
: |
N/A |
||||||||
CAPITAL STRUCTURE
|
|
|||||||
|
Authorized
Capital |
: |
BDT 100 Million |
|
|||||
|
Paid-up Capital |
: BDT 100000000 |
No. of Shares |
: 1000000 |
Share
Value |
: |
BDT100.00Each |
||
|
Main Assets |
: |
BDT 156.39 Million |
|
|||||
FINANCIAL
STATEMENT- DETAILED
|
|
The subject company don’t submit update
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/RELATED
PARTIES
|
||
|
Sister Concerns |
: |
New Hope Liuhe Co. Ltd. New Hope Feed Mill Bangladesh Ltd.
Xichang Xin Xiwang Pigments Co. Ltd. Sichun New Hope Agribusiness Co. Ltd. Guanghan Gum Xiong Feed Mill Co. Ltd. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
New Hope Group |
BANKING
|
|
|
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Bank Name
|
: |
Prime Bank Ltd. |
|
Bank Address |
: |
Uttara Branch Siaam Tower (1st Floor), Plot # 15, Sector
# 03, Dhaka Mymensingh Road, Uttara Model
Town, Dhaka, Bangladesh Phone: 88-02-8916233, 8950341-2, Fax : 88-02-8924248 |
|
|
||
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Bank Name
|
: |
HSBC Bank |
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Bank Address |
: |
Uttara Branch N R Complex, Plot No. 4/A, Road No. 5, Sector 4,Uttara Model Town, Dhaka – 1230, Bangladesh Tel: 88-02-8932935-6 |
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 Bhangnahati, Sreepur, Gazipur, Bangladesh. It is Situated at Commercial
area. |
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.63.87 |
|
|
1 |
Rs.98.89 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.