MIRA INFORM REPORT

Report No. :	504475
Report Date :	23.04.2018

IDENTIFICATION DETAILS

Name :	BANGLADESH EXPORT IMPORT COMPANY LTD.
Registered Office :	17, Dhanmondi R/A, Road # 2, Dhaka-1205.
Country :	Bangladesh
Financials (as on) :	30.09.2017
Date of Incorporation :	1972
Com. Reg. No.:	C-3821
Legal Form :	Public Listed Co
Line of Business :	Manufacturing, Provider, Distributors, Fisheries, Marketing, ICT, Services and Exporter of Fabric, Fisheries, Internet, Marine Food, Ceramics and aviation
No. of Employees :	8200

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

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.

EXECUTIVE SUMMARY

IDENTIFICATION DETAILS
Correct company Name	:	Bangladesh Export Import Company Ltd.
Head Office	:	17, Dhanmondi R/A, Road # 2, Dhaka-1205, Bangladesh.
Tel No	:	88-02-58611891, 5861040, 58612040-7, 8618220
Fax No	:	88-02-58613470, 9615523
E-mail	:	info@beximcoltd.com, chq@beximco.net
Website	:	www.beximcoltd.com, www.beximco.com
Date/ Year of Incorporation	:	1972
Incorporation No.	:	C-3821
Trading Code	:	Beximco
Company Trading No	:	99613
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
30^th June’2017	BDT 6860278000 (30^th Sep 2016)	BDT 114800509000	BDT 273219000 (30^th Sep 2016)
30^thSep’2017	BDT 5965028000 (30^th Sep’2017)	BDT 114932487000	BDT 275811000 (30^th Sep’2017)

FULLCHECK REPORT DETAILS

Information Parted By
Name	:	Mr. Mohammad Asad Ullah, FCS
Designation	:	Executive Director & Company Secretary
Contract No	:	N/A

Locations Details
Operating Address	:	17, Dhanmondi R/A, Road # 2, Dhaka-1205, Bangladesh.
Tel No	:	88-02-58611891, 5861040, 58612040-7, 8618220
Fax No	:	88-02-58613470, 9615523
E-mail	:	info@beximcoltd.com, chq@beximco.net
Website	:	www.beximcoltd.com, www.beximco.com

Location :

: Owned

Ö

Rented

Leased

Area

4500

Sq. ft.

Type of Office :	: Commercial Office Bldg.				Semi-commercial office Bldg.
Retail shop				Industrial Park
Business Center				Home Office
Residential Bldg.			Ö
Registered Head Office:
Address		:	House No# 17, Road No# 2, Dhanmondi R/A, Dhaka-1205, Bangladesh
Tel No		:	Nil
Fax No		:	Nil

Commercial Head Office:
Address	:	BEL Tower (Level-10), 19, Dhanmondi R/A, Road# 7, Dhaka-1205, Bangladesh.
Tel No	:	88-02-58611891, 5861040
Fax No	:	88-02-58613470, 9615523

Online Division:
Address	:	Plot # 19, Road # 35, Gulshan, Dhaka-1212, Bangladesh.
Tel No	:	88-02-8815559, 09609000999
Fax No	:	88-02-881 5747

Factory-1:
Address	:	Beximco Industrial Park, Sarabo, Kashimpur, Gazipur, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil
Factory-2:
Address	:	126, Kathaldia, Tongi, Gazipur, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil
Factory-3:
Address	:	Plot # 1070/1083, Mouchak, kaliakoir, Gazipur, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Firm:
Address	:	Cox's Bazzar, Chittagong, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	50	In Factory	:	8120
	In Branch:	:	30	Total	:	8200
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share	Country
Mr. A S F Rahman	57328792	Bangladesh.
Mr. Salman F Rahman	64326253	Bangladesh.
Associates	36037657	Bangladesh.
Foreign Investors	76686447	Bangladesh.
ICB including ICB Investors’ Account	92811222	Bangladesh.
General Public	465187193	Bangladesh.

DIRECTORS

1.
Name	:	Mr. A S F Rahman
Designation	:	Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
2.
Name	:	Mr. Salman F Rahman
Designation	:	Vice-Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
3.
Name	:	Mr. Iqbal Ahmed
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
4.
Name	:	Mr. O K Chowdhury
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
5.
Name	:	Mr. A B S Rahman
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

6.
Name	:	Mr. Barrister Faheemul Huq
Designation	:	Independent Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT

Name	:	Mr. A S F Rahman
Job Description	:	Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Mohammad Asad Ullah, FCS
Job Description	:	Executive Director & Company Secretary
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Syed Samiul Wadood
Job Description	:	Chief Executive Officer (IT Division)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Luthfor Rahman
Job Description	:	Chief Financial Officer
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Syed Naved Hussain
Job Description	:	Chief Executive Officer
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Parvez Hassan
Job Description	:	Chief Executive Officer
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Anil Kumar Maheshwari
Job Description	:	Head of MIS
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :	Manufacturing	Ö	Provider	Ö	Distributors	Ö	Fisheries	Ö
	Marketing	Ö	ICT	Ö	Services	Ö	Exporter	Ö

Range Of Products :
Products	:	Fabric, Fisheries, Internet, Marine Food, Ceramics and aviation.
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(Country)			:	Europe
		Imports(Country)			:	China, India, Japan, Malaysia
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	M/s. M. J. Abedin & Co., National Plaza (3^rd Floor), 109, Bir Uttam C. R. Datta Road, Dhaka-1205, Bangladesh
Operation Status			:	Active

CAPITAL STRUCTURE

Authorized Capital	:	BDT 1000 Million
Paid-up Capital	:	BDT 7923775640
No. of Shares	:	792377564
Share Value	:	BDT 10.00 Each
Main Assets	:	BDT 114932487000

FINANCIAL STATEMENT- DETAILED

Balance Sheet:
	Currency	: BDT
	Denomination	: 1000
	Financial Year Ending	: 30^th Sep’2017
Financial Highlights	30^th Sep’2017	30^th June’2017
Assets
Non-Current Assets	37261739	37461541
Property, Plant And Equipment	21419145	21549526
Investment Property	14015580	14015580
Investment In Shares	1827014	1896435
Current Assets	77670748	77338968
Inventories	2406481	2192909
Debtors	36306076	31790618
Advances, Deposits And Pre-Payments	38909863	43285016
Cash And Cash Equivalents	48328	70425
Total Assets	114932487	114800509
EQUITY AND LIABILITIES
Shareholders’ Equity	59853013	59646623
Share Capital	7948471	7948471
Reserves	35696534	35765955
Retained Earnings	16208008	15932197
Non-Current Liabilities	29185196	37182489
Long Term Loans-Net Off Current Maturity (Secured)	28156828	36149546
Deferred Tax Liability	1028368	1032943
Current Liabilities And Provisions	25894278	17971397
Short Term Loans	1895125	2106491
Long Term Loans-Current Maturity	17018571	8853526
Creditors And Other Payables	6980582	7011380
Total Liabilities And Shareholders’ Equity	114932487	114800509
Net Asset Value Per Share	75.30	75.04

Income Statement :
Currency		:	BDT
Denomination		:	1000
Financial Year Ending		:	30^th Sep’2017
Financial Highlights	30^th Sep 2017			30^th Sep 2016
Revenue	5965028			6860278
Cost Of Revenue	4055485			5151599
Gross Profit	1909543			1708679
Operating Expenses	171281			170055
Administrative Expenses	168373			162335
Selling And Distribution Expenses	2908			7720
Profit From Operation	1738262			1538624
Financial Cost	1400619			1217565
Net Profit Before Contribution To WRWF	337643			321059
Contribution To Workers’ Participation/Welfare Fund	16078			15288
Net Profit Before Income Tax	321565			305771
Income Tax Expenses	50330			36321
Deferred Tax (Income)/Expenses	(4576)			(3769)
Net Profit After Tax	275811			273219
Other Comprehensive Income
Fair Value Gain/(Loss)On Investment In Shares	(69420)			20940
Total Comprehensive Income	206391			294159
Earning Share (EPS)	0.35			0.34
Number Of Shares Used To Compute EPS (‘000’)	794847			794847

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Name of The Group	:	Beximco Group.
Subsidiary	:	Beximco USA Ltd. Shinepukur Ceramics Ltd.
Sister Concerns	:	Bextrade Ltd. Sonali Ansh Ltd. GMG Airlines Ltd. Bangladesh Online Essess Fashions Ltd. Esses Exporters Ltd. Beximco Media Ltd. Beximco Apparels Ltd. Beximco Fashions Ltd. Beximco Holdings Ltd. Beximco Securities Ltd. Beximco Petroleum Ltd. Beximco Synthetics Ltd. Beximco Computers Ltd. Shinepukur Ceramics Ltd. Beximco Engineering Ltd Pharmatek Chemicals Ltd. Beximco Pharmaceuticals Ltd. New Dacca Industries Limited Bangladesh Antibiotics Industries Ltd. Crescent Fashion And Design Limited International Knitwear & Apparels Ltd. Beximco Property Development And Management Limited

BANKING

Bank Name

:

IFIC Bank Ltd. Sonali Bank Ltd. Rupali Bank Ltd. Jananta Bank Ltd. Agrani Bank Ltd.

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 their registered address which is situated at 17, Dhanmondi R/A, Road # 2,

Dhaka-1205, Bangladesh. It is situated at a Residential Area.

GENERAL COMMENTS

Based on the financial statements, SC’s financial performance appears to be average. SC has been in its line of business for about 45 years. Taking into account its long-standing history, reputation in the market, as well as its financial condition, We recommend that Credit can proceed with favorable terms in Large amount.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.02
UK Pound	1	INR 92.73
Euro	1	INR 81.46
BDT	1	INR 0.80

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.