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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

492252

Report Date :

16.02.2018

 

 

IDENTIFICATION DETAILS

 

Name :

DURABLE PLASTIC LTD.

 

 

Registered Office :

Property Heights, 12, R.K. Mission Road, G.P.O. Box: 83, Dhaka-1203

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

05.03.2009

 

 

Com. Reg. No.:

C-75196

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Manufacturer, Exporter, Importer and Distributor of PCB Pipe, Plastic Household Accessories, Laundry Accessories, Medical Accessories, Furniture

 

 

No. of Employees :

2450

 

 

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 :

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.

 

 

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 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.

 

Source : CIA

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Durable Plastic Ltd.

Head Office

:

PRAN-RFL Center, 105, Progoti Sarani, Middle Badda, Dhaka-1212,

Bangladesh.

Tel No

:

88-02-9881792, 8835547-50, 9881316

Fax No

:

88-02-8837464

E-mail

:

import54@prangroup.com

Website

:

www.pranrflgroup.com, www.rflbd.com

Date/ Year of Incorporation

:

05.03.2009

Incorporation No.

:

C-75196

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)

30th June’2016

BDT 985 Million

BDT 2621.71 Million

BDT 49.60 Million

30th June’2017

BDT 1321 Million

BDT 2985.81 Million

BDT 71.40 Million

 

 

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Monirul Islam

Designation

:

Officer

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

PRAN-RFL Center, 105, Progoti Sarani, Middle Badda, Dhaka-1212,

Bangladesh.

Tel No

:

88-02-9881792, 8835547-50, 9881316

Fax No

:

88-02-8837464

E-mail

:

import54@prangroup.com

Website

:

www.pranrflgroup.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

3200

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Plot # 1-5, Mulgaon, Kaliganj, Gazipur-1700, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Registered Address:

 

 

 

Address

:

Property Heights, 12, R.K. Mission Road, G.P.O. Box: 83, Dhaka-1203,

Bangladesh. 

Tel No

:

88-02-9563126

Fax No

:

88-02-9559415

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

84

In Factory

:

2366

In Branch:

:

N/A

Total

:

2450

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                         No. of Share     

Mrs. Uzma Chowdhury

20

Mr. Rathendra Nath Paul

20

Mr. Choudhury Atiur Rasul

20

Mr. Choudhury Kamruzzaman

20

Mr. Prodip Kumar Poddar

20

Mr. Ahsan Khan Chowdhury

10500

 

 

DIRECTORS

 

Name

Designation

Mr. Prodip Kumar Poddar

Managing Director

Mrs. Uzma Chowdhury

Director

Mr. Rathendra Nath Paul

Director

Mr. Choudhury Atiur Rasul

Director

Mr. Choudhury Kamruzzaman

Director

Mr. Ahsan Khan Chowdhury

Director

 

 

MANAGEMENT

 

Name

:

Mr. Prodip Kumer Podder

Job Description

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Muhammad Aminur Rahman

Job Description

:

Company Secretary

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Ifthakhar Ahammad

Job Description

:

Assistant General Manager

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Robiul Islam

Job Description

:

Officer (Import)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01912257276

 

Name

:

Mr. Monirul Islam

Job Description

:

Officer

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

Ö

Importer

Ö

Services

 

Others

 

 

Range of Products:

 

Products

:

PCB Pipe, Plastic Household Accessories, Laundry Accessories, Medical Accessories, Furniture

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

Ö

Cash

Ö

Others

 

 

 

 

Credit :

 

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, USA

 

Imports(Country)

:

China, India

 

Brand Name

:

N/A

Certified

:

N/A

Name of Auditors

:

N/A

Operation Status

:

Active

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 200 Million

 

Paid-up Capital

:

BDT 1060000

 

No. of Shares

:

10600

 

Share Value

:

BDT 100.00 Each

 

Main Assets

:

BDT 2985.81 Million

 

 

FINANCIAL STATEMENT- DETAILED

 

Summary Information has been provided

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Name of  The Group

:

Pran-Rfl Group.

Subsidiary

:

Nil

Sister Concerns

:

Pran Dairy Ltd.

Pran Foods Ltd.

Pran-Rfl Centre

Pran Exports  Ltd

Chorka Textile Ltd

RFL Plastic Limited

Rangpur Foundry Ltd.

Sylval Agriculture Ltd

Pran Beverage Limited

Allplast Bangladesh Ltd. 

Erum Bangladesh Limited

Mymensingh Agro Limited

Packmat Industries Limited

Banga Building Materials Ltd.

Bangladesh Lift Industries Ltd.

Agricultural Marketing Co. Ltd.

Bangla Plastic International Ltd

Rangpur Metal Industries Limited

 

 

BANKING

 

 

 

Bank Name  

:

IFIC Bank Ltd.

 

Bank Address

:

Federation Bhaban Branch,

FFBCCI Building, 60, Motijheel C/A, Dhaka-1000, Bangladesh

Tel: 88-02-9561141-2, 9552176, 9552175

Fax: 88-02-9567488

 

 

 

Bank Name  

:

Dutch Bangla Bank

 

Bank Address

:

Foreign  Exchange Branch

Zerin Mansion, 55, Motijheel C/A, Dhaka-1000, Bangladesh

 

 

Bank Name  

:

United Commercial Bank Ltd

 

Bank Address

:

Foreign Exchange Branch

20, Dilkusha C/A, Dhaka-1000, Bangladesh

 

 

 

 

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 Pran-RFL Centre 105, Middle Badda, Dhaka-1212, Bangladesh. Its office is situated at a Residential Area.

 

 

GENERAL COMMENTS

 

The subject company is engaged in Manufacturer, Importer, Exporter and Distributor. It is reputed company in this line of business. We recommend that Credit can proceed normally in Moderate amount.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.92

UK Pound

1

INR 89.55

Euro

1

INR 79.68

BDT

1

INR 0.77

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.