MIRA INFORM REPORT
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Report No. : |
340664 |
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Report Date : |
18.09.2015 |
IDENTIFICATION DETAILS
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Name : |
GENETICA |
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Registered Office : |
House # 25 (1st Floor), Road # 4, Block # F, Banani, Dhaka-1213 |
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Country : |
Bangladesh |
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Date of Incorporation : |
1980 |
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Legal Form : |
Sole Proprietorships |
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Line of Business : |
Importer, Distributor and Repacking of Agro Chemical Products. |
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No. of Employee : |
52 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
Executive summary
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Genetica |
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Head Office |
: |
House # 25 (1st Floor), Road # 4, Block # F, Banani, Dhaka-1213,
Bangladesh |
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Tel No |
: |
88-02-8825437 |
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Fax No |
: |
88-02-8832794 |
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E-mail |
: |
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Website |
: |
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Date/ Year of Incorporation |
: |
1980 |
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Incorporation No. |
: |
Nil |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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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’ 13~June’14 |
BDT49 Million |
BDT10.50
Million |
BDT1.50
Million |
|
July’ 14~June’15 |
BDT87
Million |
BDT12.37
Million |
BDT2.85
Million |
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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 |
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FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Sazzad Husain
Mithu |
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Designation |
: |
Manager |
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Contract No |
: |
88-01712476376 |
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Locations Details |
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Business Address |
: |
House # 25 (1st Floor), Road # 4, Block # F, Banani, Dhaka-1213,
Bangladesh |
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Tel No |
: |
88-02-8825437 |
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Fax No |
: |
88-02-8832794 |
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E-mail |
: |
sazzat.mithu@hotmail.com,
mithu_sikder@yahoo.com |
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Website |
: |
www.geneticabd.com, www.intracogroup.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
1200 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
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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. |
Ö |
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Factory: |
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Address |
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Vobanipur, Gazipur, Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Owned |
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Rented |
Ö |
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Leased |
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Area |
10000 |
Sq. ft. |
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Branches: |
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Address |
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69, SuhrawardyAvenue, Baridhara,
Dhaka-1212, Bangladesh |
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Tel No |
: |
88-02-8833584, 9863383, 8833854 |
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Fax No |
: |
88-02-8819921 |
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Employee: |
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No. of Employees |
In Office |
: |
20 |
Factory |
: |
32 |
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In Branch: |
: |
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Total |
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52 |
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Details: |
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PROPRIETOR/PARTNERS
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Names of
Proprietor |
: |
Mrs. Monowara Hakim Ali |
MANAGEMENT
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Name |
: |
Mr. Sazzad Husain
Mithu |
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Job Description |
: |
Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
sazzat.mithu@hotmail.com, mithu_sikder@yahoo.com |
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Other details |
: |
88-01712476376 |
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BUSINESS
OPERATIONS
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Nature of Activity: |
Manufacturer |
Importer |
Ö |
Dealer |
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Distributor |
Ö |
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Exporter |
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Repacking |
Ö |
Services |
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Others |
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Item Dealings
In: |
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Products |
: |
Agro Chemical Products |
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Production Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
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Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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|
days |
DETAILED
DATA
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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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Trade Markets |
: |
Exports |
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N/A |
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Imports |
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India, China |
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Brand Name |
: |
Nil |
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Certified |
: |
Nil |
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Auditors |
: |
Nil |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL
STRUCTURE
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Capital Invested |
: |
BDT 8Million |
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Assets |
: |
BDT 12.37Million |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Asfour Crystal Intraco Limited IntracoCng Limited Intraco Motors Limited Intraco Energy Limited Intraco Dredger Limited Intraco Apparels Limited Intraco Furniture Limited Hindustan Motors BD Ltd. Intraco Properties Limited Intraco Agro-Products Ltd. Hotel Agrabad, Chittagong Parker Bangladesh Limited Intraco Tours & Travels Ltd. Intraco Ultra Pharma Limited Intraco Coconut Park Limited Intraco Ship Builders Ind. Ltd Intraco Renewable Energy Ltd Intraco Butterfly Park Limited Intraco Ready-mix Co. Limited Intraco Refueling Station Limited Intraco Water Park & Resorts Ltd. Al Mostafa Bread & Biscuit Ind. Ltd. Raffles Sea View Hotel & Apartments Global Event Management Services Ltd Matrix Cellular International Services Limited |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Intraco Group |
BANKING
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Bank Name
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: |
Dutch Bangla Bank
Ltd Bank |
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Bank Address |
: |
Agrabad Branch 75, Agrabad Commercial Area, Chittagong-4100, Bangladesh |
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Bank Name
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: |
First Security Islami Bank Ltd |
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Bank Address |
: |
Gulshan Branch 122 Gulshan Avenue, Gulshan-2, Dhaka-1212,
Bangladesh Tel: 88-02-8814438, 8861829 Fax: 88-02-9887932 |
ADVERSE
DATA MONITORING
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Dishonored Checks |
:
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No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE
VISIT COMMENTARY
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Our representative visited the subject company HeadOffice which is
situated atHouse # 25 (1st Floor), Road # 4, Block # F, Banani, Dhaka-1213,
Bangladesh. It is Situated at Residential area. |
GENERAL
COMMENTS
|
Subject is mainly engaged in Repacking, Manufacture &
Distributors. The subject company maintains acceptable business volume. Based
on the financial statements, SC’s financial performance appears to be Below
Average. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.50 |
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|
1 |
Rs.101.99 |
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Euro |
1 |
Rs.75.02 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.