|
Report No. : |
349510 |
|
Report Date : |
13.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
DESHBANDHU SUGAR MILLS LTD. |
|
|
|
|
Registered Office : |
Mostafa Centre, House # 59, Road # 27, , Banani, Dhaka-1213 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
17.04.2002 |
|
|
|
|
Com. Reg. No.: |
C-45560 |
|
|
|
|
Legal Form : |
Private Co
|
|
|
|
|
Line of Business : |
Subject is refinery, exporter and distributor of sugar |
|
|
|
|
No. of Employee : |
380 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
DESHBANDHU SUGAR MILLS LTD.
|
IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
DESHBANDHU SUGAR MILLS LTD. |
|
Head Office |
: |
Mostafa Centre, House # 59, Road # 27, , Banani, Dhaka-1213, Bangladesh. |
|
Tel No |
: |
88-02-8816731, 8811239, 8816763, 9551995 |
|
Fax No |
: |
88-02-8815571 |
|
E-mail |
: |
info@deshbandhugroup.com.bd, commercial@deshbandhugroup.com.bd |
|
Website |
: |
www.deshbondhugroup.com.bd |
|
Date/ Year of Incorporation |
: |
17.04.2002 |
|
Incorporation No. |
: |
C-45560 |
|
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’ 13~June’
14 |
BDT 3847.70 Million |
BDT 5392.32 Million |
BDT 134.66 Million |
|
July’ 14~June’
15 |
BDT 6249.24 Million |
BDT 5461.50 Million |
BDT 218.73 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. Mohiuddin
Ahmed. |
|
Designation |
: |
Manager
(Commercial) |
|
Contract No |
: |
N/A |
|
Locations Details |
||
|
|
||
|
Operating Address |
: |
Mostafa Centre, House # 59, Road# 27, , Banani, Dhaka-1213,
Bangladesh. |
|
Tel No |
: |
88-02-8816731, 8811239, 8816763, 9551995 |
|
Fax No |
: |
88-02-8815571 |
|
E-mail |
: |
info@deshbandhugroup.com.bd, commercial@deshbandhugroup.com.bd |
|
Website |
: |
www.deshbondhugroup.com.bd |
|
Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
2400 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
|
|
Semi-commercial office
Bldg. |
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|
|
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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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|
|
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Residential Bldg. |
Ö |
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|
|
|
|
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Factory: |
|
|
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Address |
: |
Kawadi, Charshindur, Palash, Narshingdi,
Bangladesh. |
|
Tel No |
: |
88-01713375233 |
|
Fax No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
30 |
Acres |
|
Registered Address: |
||
|
Address |
: |
BCIC Bhaban (3rd & 6th
Floor), 30-31, Dilkkusha C/A, Dhaka-1000, Bangladesh. |
|
Tel No |
: |
88-02-9560174 |
|
Fax No |
: |
Nil |
|
Employee: |
|
|||||||
|
|
|
|||||||
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No. of Employees |
In Office |
: |
30 |
In Factory |
: |
350 |
||
|
In Branch: |
: |
- |
Total |
: |
380 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Mr. Golam Mostafa |
59999700 |
|
Mr. Golam Rahman |
39999800 |
|
Mr. Md. Akheruzaman |
100 |
|
Mr. Late-Golam Rasul Putul |
100 |
|
Mr. Md. Mainul Islam Lal |
100 |
|
Deshbandhu Polymer Ltd |
100 |
|
Deshbandhu Distillaries Ltd |
50 |
|
Deshbandhu Oil Refinery Ltd |
50 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Golam Mostafa |
Chairman |
|
Mr. Golam Rahman |
Managing Director |
|
Mr. Md. Akheruzaman |
Director |
|
Mr. Late-Golam Rasul Putul |
Director |
|
Mr. Md. Mainul Islam Lal |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Mohiuddin
Ahmed. |
|
Job Description |
: |
Manager
(Commercial) |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Provas
Chokroborti. |
|
Job Description |
: |
General Manager. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS
OPERATIONS
|
||||||||
|
Nature of Activity : |
Refinery |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
|
Services |
|
Others |
|
|
Range of
Products : |
||
|
|
||
|
Products |
: |
Sugar
|
|
Production Capacity |
: |
300 Tonnes per day. |
|
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 |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit : |
|
30 days |
|
60 days |
Ö |
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 |
: |
Europe |
|
|||||
|
Imports |
: |
China, India. |
|
|||||||
|
Brand Name |
: |
Nil |
||||||||
|
Certified |
: |
ISO 9001:2000 |
||||||||
|
Auditors |
: |
N/A |
||||||||
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Operation Status |
: |
Active. |
||||||||
|
Member |
: |
N/A |
||||||||
CAPITAL STRUCTURE
|
|
||||||
|
Authorized
Capital |
: |
BDT 3000 Million |
|
||||
|
Paid-up Capital |
: |
BDT 100, 00,00,000 |
No. of Shares |
: |
10, 00,00,000 |
Share
Value : BDT10.0Each |
|
|
Main Assets |
: |
BDT
5461.50 Million |
|
||||
FINANCIAL
STATEMENT- DETAILED
|
|
Summary information given |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
Rapa Plaza. Moru Trade. M.R. Trading. MDI Solution. Multi International Ltd. G.M. Properties Limited. Deshbandhu Shipping Ltd. Deshbandhu Media Limited. Southeast Sweaters Limited. Deshbandhu Distilleries Ltd. Deshbandhu Polymer Limited. Deshbandhu Cement Mills Ltd. Commodities Trading Company. Sahera Auto Rice Mills Limited. Fertilizer Marketing Corporation. Fertilizer Marketing Corporation. Deshbandhu Power Plant Limited. Deshbandhu Security Services Ltd. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Deshbandhu group. |
BANKING
|
||
|
Bank Name
|
: |
Southeast Bank
Ltd. |
|
Bank Address |
: |
Principal Branch. 1, Dilkusha C/A, Dhaka-1000, Bangladesh Tel: 88-02-9550081, 9567271 - 2, 9563101 Fax: 88-02-9551575 |
|
|
||
|
Bank Name
|
: |
Dhaka Bank Ltd. |
|
Bank Address |
: |
Forging Exchange Branch. Biman Bhaban (1st Floor), 1 00 Motijheel C/A, Dhaka-1000, Bangladesh Tel: 88-02-9571006-10 Fax: 88-02-7169328 |
|
Bank Name
|
: |
Mercantile Bank Ltd. |
|
Bank Address |
: |
Motijheel Branch. Malek Mansion 128, Motijheel C/A, Dhaka-1000, Bangladesh Tel: 88-02-7161923-4, 9570131 Fax: 88-02-7161925, 9561178 |
|
Bank Name
|
: |
National Credit and Commerce Bank Ltd. |
|
Bank Addres |
: |
Bijoy Nagor Branch. Dhaka, Bangladesh |
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 Mostafa Centre, House # 59, Road # 27, Banani, Dhaka-1213,
Bangladesh. Its office is situated at Residential area. |
GENERAL
COMMENTS
|
|
The subject
company is engaged in manufacturer, Exporter & Refinery. It is reputed
company in this line of business. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.35 |
|
|
1 |
Rs.100.28 |
|
Euro |
1 |
Rs.71.30 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.