MIRA INFORM REPORT

 

 

Report No. :

350743

Report Date :

25.11.2015

 

IDENTIFICATION DETAILS

 

Name :

LAB AID LTD.

 

 

Registered Office :

House # 1, Road # 4, Dhanmondi R/A, Dhaka-1205, 

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

06.07.1995

 

 

Com. Reg. No.:

C-28768

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Distributor and Importer of Medical Equipment

 

 

No. of Employee :

75

 

 

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 – 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

 

IDENTIFICATION DETAILS

 

Correct company Name

:

Lab Aid Ltd.

Head Office

:

House # 1, Road # 4, Dhanmondi R/A, Dhaka-1205, Bangladesh  

Tel No

:

88-02-58610793-8

Fax No

:

88-02-9615497

E-mail

:

info@labaidgroup.com

Website

:

www.labaidhospital.com 

Date/ Year of Incorporation

:

06/07/1995

Incorporation No.

:

C-28768

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/ (Loss)

July’ 13~June’ 14

BDT 450 Million

BDT 571.50 Million

BDT 24.30 Million

July’ 14~June’ 15

BDT 486 Million

BDT 584.89 Million

BDT 31.71 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. Mahbub Sanowar

Designation

:

Officer (Commercial)

Contract No

:

N/A

 

                                                               Locations Details

 

Operating Address

:

House # 1, Road # 4, Dhanmondi R/A, Dhaka-1205, Bangladesh  

Tel No

:

88-02-58610793-8

Fax No

:

88-02-9615497

E-mail

:

info@labaidgroup.com

Website

:

www.labaidhospital.com 

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

2400

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

     

 

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

Ö

 

 

 

 

 

 

Warehouse:

 

 

 

 

 

Address

:

House # 1, Road # 4, Dhanmondi R/A, Dhaka-1205, Bangladesh  

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

4500

Sq. ft.

 

Branches 1:

 

 

 

 

 

Address

:

House # 05, Road # 04, Dhanmondi, Dhaka-1205, Bangladesh

Tel No

:

88-02-9676356, 58610793-8

Fax No

:

88-02- 9615497

 

Branches 2:

 

 

 

 

 

Address

:

12, Green Square, Green Road, Dhaka-1205, Bangladesh.

Tel No

:

88-02-8617066

Fax No

:

88-02-9615497 

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

73

Warehouse

:

2

In Branch:

:

 

Total

:

75

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mrs. Salema Ahmed

                                  65965

Dr. Abu Md. Shamim

                                858070

Dr. Sucharita Ahmed

                                  65965

 

 

DIRECTORS

 

Name

Designation

Dr. Abu Md. Shamim

Managing Director

Mrs. Salema Ahmed

Director

Dr. Sucharita Ahmed

Director

 

 

MANAGEMENT

 

Name

:

Mr. Mahbub Sanowar

Job Description

:

Officer (Commercial)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

Ö

Services

 

Others

 

 

Item Dealings In:

 

Products

:

Medical Equipment

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

 

 

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

:

N/A

 

Imports

:

India, China

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 300 Million

 

Paid-up Capital

:

BDT 99000000

 No. of Shares

:

990000

Share Value

:

BDT100.00Each

Main Assets

:

BDT 584.89  Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Labaid Agros

Labaid Properties Ltd

Labaid Carduac Hospital

Labaid Pharmaceuticals Ltd

State University of Bangladesh

Labaid Specialised Hospital Ltd

Mirror Financial Management Ltd

Subsidiary

:

Nil

Name of  The Group

:

Labaid Group

BANKING

 

Bank Name  

:

United Commercial Bank Ltd

Bank Address

:

Mirpur Road Branch

House # 12, Road # 5, Ward # 49, Mirpur Road,

Dhanmondi R/A, Dhaka-1205, Bangladesh

Tel: 88-02-9671037, 9671083, 9671324

Fax: 88-02-9671357

 

Bank Name  

:

IFIC Bank Ltd

Bank Address

:

Dhanmondi Branch.

Royal Plaza (1st & 2nd floor), House # 8A, Road # 4,

Mirpur Road, Dhanmondi, Dhaka-1205, Bangladesh

Tel: 88-02-8628381, 8628379, 9660320, 9660336

Fax: 88-02-8612161

 

Bank Name  

:

Mercantile Bank Ltd

Bank Address

:

Elephant Road Branch

Osman Plaza, 75, Elephant Road,

Dhaka-1205, Bangladesh

Tel: 88-02-8618732, 9677364

Fax: 88-02-9669458

 

 

 

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 House # 1, Road # 4, Dhanmondi R/A, Dhaka-1205, Bangladesh. It is Situated at Residential area.                                                                                

 

 

GENERAL COMMENTS

 

The subject company is engaged in Importer & Distributor. It is reputed company in this line of business. We recommended that Credit should proceed with monitor in Small amount-periodical review.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.38

UK Pound

1

Rs.100.45

Euro

1

Rs.70.55

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TRU

 

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.