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MIRA
INFORM REPORT
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Report No. : |
491031 |
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Report Date : |
13.02.2018 |
IDENTIFICATION DETAILS
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Name : |
BASHUNDHARA MULTI PAPER IND. LTD |
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Registered Office : |
Plot# 12 5/A, Road# 2, Block# A, Bashundhara R/A, Baridhara,
Dhaka-1229 |
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Country : |
Bangladesh |
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Date of Incorporation : |
28.02.2011 |
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Com. Reg. No.: |
C-90786 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Distributor and Importer of White Paper, Printing Paper, Newsprint and Other Grade Paper. |
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No. of Employees : |
400 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
BANGLADESH - ECONOMIC OVERVIEW
Bangladesh's economy has grown roughly 6% per year since 1996 despite prolonged periods of political instability, poor infrastructure, endemic corruption, insufficient power supplies, and slow implementation of economic reforms. Although more than half of GDP is generated through the services 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 were on track to again surpass $25 billion in 2017. The sector continues to grow, despite the need for improvements in factory working conditions to avert further high-profile accidents that have killed more than 1,000 workers in recent years. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $13 billion and 6% of GDP in 2016 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.
The recent influx of hundreds of millions of additional refugees from Burma will place pressure on the Bangladeshi government’s budget and the country’s rice supplies, which declined in 2017 in part because of adverse weather.
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Source
: CIA |
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Bashundhara Multi
Paper Ind. Ltd |
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Head Office |
: |
Plot# 12 5/A, Road# 2, Block# A, Bashundhara R/A, Baridhara,
Dhaka-1229, Bangladesh |
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Tel No |
: |
88-02-8432008-17 |
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Fax No |
: |
88-02-8432196 |
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E-mail |
: |
info@bg.com.bd |
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Website |
: |
www.bashundharagroup.com |
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Date/ Year of Incorporation |
: |
28.02.2011 |
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Incorporation No. |
: |
C-90786 |
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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 |
FINANCIALS- SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income/
(Loss) |
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31st Dec, 2015 |
BDT 731 Million |
BDT 5821.25 Million |
BDT 97.61 Million |
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31st Dec, 2016 |
BDT 1046 Million |
BDT 5910.41 Million |
BDT 117.36 Million |
FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Khijir Ahmmed |
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Designation |
: |
Manager (Commercial) |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
: |
Plot# 125/A, Road# 2, Block# A, Bashundhara R/A, Baridhara,
Dhaka-1229, Bangladesh |
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Tel No |
: |
88-02-8432008-17 |
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Fax No |
: |
88-02-8432196 |
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E-mail |
: |
info@bg.com.bd |
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Website |
: |
www.bashundharagroup.com |
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Location : |
:
Owned |
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Rented |
Ö |
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Leased |
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Area |
3500 |
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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Meghnaghat, Newtown,
Sonargaon, Narayangonj, Bangladesh |
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Tel No |
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88-01199-865814 |
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Fax No |
: |
Nil |
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Branch-1 : |
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Address |
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Plot# 3, Block# G, Umme
Kulsum Road, Bashundhara R/A, Dhaka-1229, Bangladesh |
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Tel No |
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88-02-8431024-8 |
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Fax No |
: |
Nil |
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Branch-2 : |
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Address |
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Plot# 56/A, Block# C,
Umme Kulsum Road, Bashundhara R/A,
Dhaka-1229, Bangladesh |
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Tel No |
: |
88-02-8431256-8 |
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Fax No |
: |
Nil |
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Employee: |
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No. of
Employees |
In Office |
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50 |
In Factory |
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340 |
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Branches |
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10 |
Total |
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400 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of
Share |
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Mr. Ahmed Akbar Sobhan |
500000 |
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Mrs. Afroza Begum |
2295000 |
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Mr. Sadat Sobhan |
500000 |
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Mr. Safwan Sobhan |
500000 |
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East West Property Development (Pvt.) Ltd. |
1800000 |
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Bashundhara Agricultural Products Ltd |
1850000 |
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City Multi Agricultural Company Ltd |
1950000 |
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Dhaka Multi Agricultural Company Ltd. |
1800000 |
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Bashundhara Horticulture Ltd. |
1900000 |
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Phosphochem (Bangladesh) Ltd. |
1900000 |
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Mr. Md. Nazmul Alam Bhuiyan |
5000 |
DIRECTORS
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Name |
Designation |
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Mr. Ahmed Akbar Sobhan |
Chairman & Managing
Director |
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Mr. Md. Nazmul Alam Bhuiyan |
Director |
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Mr. Md. Imrul Hassan |
Director |
MANAGEMENT
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Name |
: |
Mr. Ahmed Akbar Sobhan |
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Job Description |
: |
Chairman & Managing
Director |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Khijir Ahmmed |
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Job Description |
: |
Manager (Commercial) |
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Nationality |
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Bangladeshi. |
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Email address |
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khijirahmmed@bg.com.bd |
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Other details |
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N/A |
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Name |
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Mr. Shahinur Rahman |
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Job Description |
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Deputy General Manager |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
Ö |
Services |
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Others |
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Range of
Products: |
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Products |
: |
White Paper, Printing Paper, Newsprint and
Other Grade Paper Etc. |
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Production
Capacity |
: |
400 Mt (Per Day) |
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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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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 |
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Overseas Clients |
: |
N/A |
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Local Clients |
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Local Wholesaler |
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Overseas Suppliers |
: |
N/A |
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Local Suppliers |
: |
N/A |
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Trade Markets |
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Exports |
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N/A |
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Imports |
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India, China |
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Brand Name |
: |
N/A |
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Certified |
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N/A |
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Auditors |
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N/A |
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Operation Status |
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Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
BDT 4000 Million |
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Paid-up
Capital |
: |
BDT 1500000000 |
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No. of
Shares |
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15000000 |
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Share
Value |
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BDT 100.00 Each |
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Main
Assets |
: |
BDT 5910.41 Million |
FINANCIAL STATEMENT- DETAILED
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Summary information has been given. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Name of The Group |
: |
Bashundhara Group |
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Subsidiary |
: |
Nil |
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Sister Concerns |
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Toggi World Cement Sack Limited. Bashundhara Shipping Union Lp Gas Limited Bashundhara Enterprise Bashundhara Foundation
Bashundhara Steel Trading Bashundhara Paper Trading Freyschmidt Tissue Limited Bashundhara Tissue Limited Bashundhara Media Limited Bashundhara Paper Mills Ltd. Bashundhara Lp
Gas Limited Bashundhara Gas Distribution Crystal Property Development Bashundhara L.P. Gas Limited Bashundhara Dredging Co. Ltd Bashundhara E- Media Limited Bashundhara Import Export Ltd Bashundhara Convention Center Bashundhara Television Limited East West Property Development Bashundhara Cement Trading Ltd Bashundhara Enterprise (Pvt.) Ltd. Sundarban Industrial Complex Ltd Shahjalal Newsprint Industries Ltd Bashundhara Technologies Limited Bashundhara Trading Company Ltd Bashundhara Cement Industries Ltd Bashundhara City Development Ltd. Bashundhara Oil And Gas Company Ltd. Bashundhara Industrial Complex Limited East West Property Development (Pvt.) Ltd Bashundhara International Airways Limited Bashundhara Food And Beverage industries ltd Bashundhara Communications & Networks Limited Bashundhara Fertilizer And Ctrains Industries
Limited. Bashundhara Newsprint & Duplex Board Industries
Ltd. |
BANKING
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Bank Name |
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Agrani Bank Ltd |
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Bank Address |
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Amin Court, 62/63,
Motijheel C/A, Dhaka-1000, Bangladesh Tel: 88-02-9572045 |
ADVERSE DATA MONITORING
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Dishonored
Checks |
: |
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance
Defaults |
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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 Head
Office which is situated at Plot # 125/A, Road# 2, Block # A, Bashundhara
R/A, Baridhara, Dhaka-1229, Bangladesh. It is situated at a Residential Bldg. |
GENERAL COMMENTS
|
The subject company maintains acceptable business
volume. We recommend that Credit can proceed normally |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.28 |
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|
1 |
INR 89.02 |
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Euro |
1 |
INR 78.93 |
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BDT |
1 |
INR 0.77 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.