MIRA INFORM REPORT

Report No. :	323398
Report Date :	28.05.2015

IDENTIFICATION DETAILS

Name :	AFTAB BAHUMUKHI FARMS LTD.
Registered Office :	Islam Chamber (13^th Floor), 125/A, Motijheel C/A, Dhaka-1000
Country :	Bangladesh
Date of Incorporation :	19.06.1991
Com. Reg. No.:	C-20767
Legal Form :	Partnership
Line of Business :	Subject is engaged in farming, dressing, production, distributor, processing, fish fries rearing & nursing of chicken, portion chicken, processed chicken, poultry & fish feed, fish fries, agricultural seed
No. of Employee :	400

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

Company name

AFTAB BAHUMUKHI FARMS LTD.

IDENTIFICATION DETAILS
Correct company Name	:	AFTAB BAHUMUKHI FARMS LTD.
Head Office	:	Islam Chamber (13^th Floor), 125/A, Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	88-02-9569092, 9568903, 9565794
Fax No	:	88-02-956611
E-mail	:	abfl@bdcom.net, info@abflbd.com
Website	:	www.aftabbahumukhi.com
Date/ Year of Incorporation	:	19.06.1991
Incorporation No.	:	C-20767
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 1892.45Million	BDT 1465.20 Million		BDT 78.55 Million
July’13~ June’14	BDT 2261.70 Million	BDT 1523.35 Million		BDT 92.05 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. Syed Shafiquzzaman
Designation	:	Assist. Deputy Manager
Contract No	:	N/A

Locations Details
Business Address	:	Islam Chamber (13^th Floor), 125/A, Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	88-02-9569092, 9568903, 9565794
E-mail	:	info@aftabbahumukhi.com
Fax No	:	88-02-956611
Website	:	www.aftabbahumukhi.com

Location :

: Owned

Ö

Rented

Leased

Area

4800

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	:	Bhagalpur, Bajitpur, Kishoregonj, Bangladesh.
Tel No	:	88-01711606333, 01715033563, 01714095675, 01714095679
Fax No	:	N/A

Location :

Owned

Ö

Rented

Leased

Area

20

Acres

Branches:
Address	:	N/A
Tel No	:	N/A
Fax No	:	N/A

Location :

Owned

Rented

Leased

Area

Sq. ft.

Employee:
No. of Employees	In Office	:	24	In Factory	:	376
	In Branch:	:	-	Total	:	400
Details:

Names of Shareholders	No. of Share
Mr. Manzurul Islam	20,000
Mr. M.A. Wadud	15,000
Mr. Abu Lutfe Fazle Rahim Khan	15,000

Name	Designation
Mr. Manzurul Islam	Chairman
Mr. Fazlur Rahim Khan	Managing Director
Mr. M.A. Wadud	Director
Mr. Abu Lutfe Fazle Rahim Khan	Director

Name	:	Mr. Syed Shafiquzzaman
Job Description	:	Assist. Deputy Manager
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Mamunur Rahman
Job Description	:	Assist. Manager (Public Relation)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Nature of Activity :	Farming	Ö	Dressing	Ö	Production	Ö	Distributor	Ö
	Processing	Ö	Fish Fries Rearing & Nursing	Ö	Services		Others

Range of Products:
Products	:	Chicken, Portion Chicken, Processed Chicken, Poultry & Fish Feed, Fish Fries, Agricultural Seed
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

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			:	N/A

Authorized Capital	:	BDT 5 Million
Paid-up Capital	:	BDT 50, 00,000	No. of Shares	:	50,000	Share Value	:	BDT 100.00Each
Main Assets	:	BDT 1523.35 Million

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

Sister Concerns	:	Aftab IT Limited Aftab Hatchery Ltd. Dacca Fibers Limited Milnars Pump Limited Aftab G. P. Farms Ltd. Aftab Feed Products Ltd. Eastern Housing Limited Essential Products Limited Navana Industries Limited Aftab Rahima Welfare Trust Sea Trade Fertilizer Limited Jahurul Islam Medical College Navana Pharmaceuticals Limited The Milnars Tubewells Limited Bengal Development Corporation Limited
Subsidiary	:	N/A
Name of The Group	:	Islam Group

Bank Name	:	Exim Bank Ltd.
Bank Address	:	Motijheel Branch, Sharif Mansion, 56-57, Motijheel C/A, Dhaka. Phone: 88-02-9568534, 9552800, 9568093, 9554988, Swift: EXBKBDDH001
Bank Name	:	IFIC Bank Ltd.
Bank Address	:	Motijheel Branch, Islam Chamber 125/A, Motijheel C/A Dhaka-1000, Bangladesh. Tel: 88-02-9565215-8, 7111934, 7111923-26E Mobile: 018-250117, 018-219406 Fax: 880-2-9566352

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 address which is situated at Islam Chamber (13^th Floor), 125/A, Motijheel C/A, Dhaka-1000, Bangladesh. It is situated at commercial area which is a well decorated modern office.

SC is considered medium-sized in its line with fairly stable financial conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.95
UK Pound	1	Rs.98.64
Euro	1	Rs.69.86

INFORMATION DETAILS

Analysis Done by :	RAS
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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.