MIRA INFORM REPORT

 

 

Report No. :

492236

Report Date :

14.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

MEGHNA PULP AND PAPER MILLS LTD

 

 

Registered Office :

Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

06.02.2011

 

 

Com. Reg. No.:

C-90245

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer, Importer, Distributor of Paper

 

 

No. of Employees :

580

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

 

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

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Bangladesh

A2

A2

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

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 surpassed $25 billion in 2016. The sector continues to grow, despite a series of high-profile factory accidents that have killed more than 1,000 workers and crippling strikes, including a nationwide transportation blockade orchestrated by the political opposition during the first several months of 2015. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $15 billion and 8% of GDP in 2015 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.

 

Source : CIA

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Meghna Pulp and Paper Mills Ltd

Head Office

:

Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212,

Bangladesh.

Tel No

:

88-02-9889306, 9884791, 9887545, 9889490

Fax No

:

88-02-9884896, 9889361

E-mail

:

info@meghnagroup.biz

Website

:

www.meghnagroup.biz

Date/ Year of Incorporation

:

06.02.2011

Incorporation No.

:

C-90245

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

 

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

Income/ (Loss)

30th June’2016

BDT 610 Million

BDT 1799.38 Million

BDT 33.55 Million

30th June’2017

BDT 853 Million

BDT 1821.80 Million

BDT 37.60 Million

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Mohammad Hanif Mia

Designation

:

Asst. General Manager

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

Fresh Villa, House# 15, Road# 34, Gulshan-1, Dhaka-1212,

Bangladesh.

Tel No

:

88-02-9889306, 9884791, 9887545, 9889490

Fax No

:

88-02-9884896, 9889361

E-mail

:

info@meghnagroup.biz

Website

:

www.meghnagroup.biz

 

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

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Meghna City, Meghna Gath, Sonerghown, Narayangonj, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

44

In Factory

:

536

In Branch:

:

Nil

Total

:

580

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

Names of Shareholders

No. of Share

Country

Mr. Mostafa Kamal

20000

Bangladesh.

Beauty Akhter

10000

Bangladesh.

Tahmina Binthe Mostafa

10000

Bangladesh.

Tanjima Binthe Mostafa

10000

Bangladesh.

Mr. Tanveer Ahmed Mostafa

10000

Bangladesh.

Tasnim Binthe Mostafa

10000

Bangladesh.

Tanveer Food Ltd.

930000

Bangladesh.

 

 

DIRECTORS

 

1.      

 

 

Name

:

Mr. Mostafa Kamal       

Designation

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

2.      

 

 

Name

:

Beauty Akhter

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

3.      

 

 

Name

:

Tahmina Binthe Mostafa

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

4.      

 

 

Name

:

Tanjima Binthe Mostafa

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

5.      

 

 

Name

:

Mr. Tanveer Ahmed Mostafa

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

MANAGEMENT

 

Name

:

Mr. Mostafa Kamal

Job Description

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Mohammad Hanif Mia

Job Description

:

Asst. General Manager

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Luthful Haque

Job Description

:

Manager (Brand & Marketing)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01709557485

 

Name

:

Mr. Md. Rezaul Chowdhury

Job Description

:

Executive

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01708458434

 

Name

:

Mr. Mozibur Rahman

Job Description

:

Head of Marketing & Sales

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

Ö

Services

 

Others

 

 

Range of Products:

 

Products

:

Paper

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 500 Million

 

Paid-up Capital

:

BDT 10,00,00,000

 

No. of Shares

:

1000000

 

Share Value

:

BDT100.00Each

 

Main Assets

:

BDT 1821.80 Million

 

 

FINANCIAL STATEMENT- DETAILED

 

Summary Information Given.

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

United Feeds Ltd

Tanveer Oil's Ltd

Tanveer Food Ltd.

Unique Infoway Ltd

Dhaka Securities Ltd.

G. Shipping Lines Ltd.

Meghna Tea Company

United Edible Oils Ltd

Meghna Properties Ltd.

United Sugar Mills Ltd

Kamal Trading Co. Ltd

Tanveer Steel Mills Ltd.

Unique Power Plant Ltd

Tanveer Paper Mills Ltd.

United Salt industries Ltd

United Fibre Industries Ltd

Kamal Import & Export Ltd

Fresh Cement Industries Ltd.

Janata Flour & Dal Mills Ltd.

Sonargaon Salt Industries Ltd.

Unique Hatchery & Feeds Ltd

Unique Cement Industries Ltd

Mercantile Shipping Lines Ltd

Meghna Flour & Dal Mills Ltd

Unique Polymer Industries Ltd

Tasnim Chemical Complex Ltd.

Tanveer Polymer Industries Ltd

Tasnim Condensed Milk Limited

Global Ad Star Bag Industries Ltd

Meghna Seeds Crushing Mills Ltd.

Everest Power Generation Co. Ltd

Dhaka Plastic Bottle (PET) Ind. Ltd

Meghna Dairy & Food Products Ltd.

Bagdad Vegetable Oil Industries Ltd.

Meghna Vagetable Oil Industries Ltd

Meghna Shipbuilders & Dockyard Ltd.

Bangladesh National Insurance Co. Ltd.

Meghna Coconut & Mustard Oil Mills Ltd.

M.M. Printing & Packaging Company Ltd.

United Mineral Water & Pet Industries Ltd

Everest CNG Refueling & Conversion Ltd

Subsidiary

:

Nil

Name of  The Group

:

Meghan Group of Industries Ltd.

 

 

BANKING

 

Bank Name  

:

Sonali Bank Ltd

Prime Bank Limited

Janata Bank Limited

Uttara Bank Limited

BASIC Bank Limited

Premier Bank Limited

Mutual Trust Bank Limited

Dutch Bangle Bank Limited

 

 

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 Fresh Villa, House # 15, Road # 34, Gulshan-1, Dhaka-1212, Bangladesh. It is situated at Residential Area.

 

                                                         

GENERAL COMMENTS

 

The subject company is reputed company in this line of business.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.28

UK Pound

1

INR 89.02

Euro

1

INR 78.93

BDT

1

INR 0.77

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

NIT

                                                


 

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.