MIRA INFORM REPORT

 

 

Report No. :

494392

Report Date :

28.02.2018

 

 

 

 

 

 

IDENTIFICATION DETAILS

 

Name :

SUNDARBAN INDUSTRIAL COMPLEX LTD.

 

 

Registered Office :

Plot# 3, Umme Kulsum Road, Block# G, Bashundhara R/A, Dhaka-1229

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.12.2016 (Summarized)

 

 

Date of Incorporation :

14.12.1999

 

 

Com. Reg. No.:

C-39251

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Refinery, Processing, Distributor, Importer and Bottling of LP Gas Cylinders.

 

 

No. of Employees :

300

 

 

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.

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Sundarban Industrial Complex Ltd.

Head Office

:

Plot# 3, Umme Kulsum Road, Block# G, Bashundhara R/A, Dhaka-

1229, Bangladesh

Tel No

:

88-02-8401024-8, 84312568

Fax No

:

88-02-8431256

E-mail

:

info@bg.com.bd

Website

:

www.bashundharagroup.com

Date/ Year of Incorporation

:

14.12.1999

Incorporation No.

:

C-39251

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)

31st Dec, 2015

BDT 660 Million

BDT 221.90 Million

BDT 19.45 Million

31st Dec, 2016

BDT 725 Million

BDT 252.46 Million

BDT 25.71 Million

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Sarwar Hossain (Sohag)

Designation

:

Deputy General Manager (Supply Chain)

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

Plot# 3, Umme Kulsum Road, Block# G, Bashundhara R/A, Dhaka-

1229, Bangladesh

Tel No

:

88-02-8401024-8, 84312568

Fax No

:

88-02-8431256

E-mail

:

info@bg.com.bd

Website

:

www.bashundharagroup.com

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

3500

Sq. ft.

 

 

Type of Office

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

Ö

 

 

 

 

 

Factory-1:

 

 

 

 

 

Address

:

Mongla Port Industrial Area, Mongla, Bagerhat, Bangladesh.

Tel No

:

88-04662-75377

Fax No

:

88-04662-75371

 

Factory-2:

 

 

 

 

 

Address

:

Pangaon, Konda, Keraniganj, Dhaka-1421, Bangladesh.

Tel No

:

88-01993868542

Fax No

:

Nil

 

Branch:

 

 

 

 

 

Address

:

125/A, Road# 2, Block #A, Bashundhara R/A, Baridhara, Dhaka-1219,

Bangladesh

Tel No

:

88-02-8432008, 8431256

Fax No

:

88-02-55037257

 

Marketing & Sales Office :

 

 

 

Address

:

Bashundhara City (Level-16), 13/ka/1, Panthapath, Dhanmondi, Dhaka-1215,

Bangladesh.

Tel No

:

88-02-8119006

Fax No

:

88-02-9112462

 

Employee:

 

 

 

No. of Employees 

In Office

:

25

In Factory

:

225

 

Sales

:

50

Total

:

300

Details:

 

                    

 

 

 

 

OWNERSHIP/SHAREHOLDERS

 

Names of Shareholders

No. of Share

Country

Mr. Sadat Sobhan

38000

Bangladesh.

Mr. Shafiat Sobhan

157500

Bangladesh.

Mrs. Afroza Begum

12500

Bangladesh.

Mr. Maynal Hossain Chowdhury

2000

Bangladesh.

 

 

DIRECTORS

 

Name

:

Mr. Shafiat Sobhan

Designation

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Maynal Hossain Chowdhury

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

MANAGEMENT

 

Name

:

Mr. Shafiat Sobhan

Job Description

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Samsuddin Chowdhury

Job Description

:

Executive Director (Factory)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Sarwar Hossain (Sohag)

Job Description

:

Deputy General Manager (Supply Chain)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Ali Hossain Sarkar

Job Description

:

Manager (Admin & Factory)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Sarwar Hossain (Sohag)

Job Description

:

Deputy General Manager (Procurement)

Nationality

:

Bangladeshi.

Email address

:

sohag@bg.com.bd

Other details

:

88-01730018438

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Refinery

Ö

Trader

 

Processing

Ö

Distributor

Ö

 

 

 

Exporter

 

Importer

Ö

Services

 

Bottling

Ö

 

Range of Products:

 

Products

:

LP Gas Cylinders.

Production Capacity

:

9, 00,000 Pcs of 12.5 Kg LPG Cylinders

30,000 Pcs of 45 Kg LPG Cylinders

Last Year Production

:

N/A

Import Products

:

N/A

Export Products

:

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

:

Nil

 

Local Clients

:

Nil

 

Overseas Suppliers

:

Nil

 

Local Suppliers

:

Nil

 

Trade Markets

:

 

Exports(Country)

:

Nil

 

Imports(Country)

:

China, India, Japan, Thailand

 

Brand Name

:

N/A

Certified

:

N/A

Name of Auditors

:

N/A

Operation Status

:

Active

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 500 Million

 

Paid-up Capital

:

BDT 21000000

 

No. of Shares

:

210000

 

Share Value

:

BDT 100.00 Each

 

Main Assets

:

BDT 252.46 Million

 

 

FINANCIAL STATEMENT- DETAILED

 

Summary information has been provided

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Name of  The Group

:

Bashundhara Group

Name of Mother Company

:

Nil

Subsidiary

:

Nil

Sister Concerns

:

Toggi World

Cement Sack Limited.

Bashundhara Shipping

Union Lp Gas Limited

Bashubdara foundation 

Bashundhara Enterprise

Meghna Cement Mills Ltd

Bashundhara Steel Trading      

Bashundhara Paper Trading

Freyschmidt Tissue Limited

Bashundhara Tissue Limited

Bashundhara Media 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.    

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.  

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

 

Bank Name  

:

Islami Bank  Bangladesh Ltd

Southeast Bank Limited

Bank Asia 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 the subject company Head Office which is situated at Plot# 3, Umme Kulsum Road, Block# G, Bashundhara R/A, Dhaka-1229, Bangladesh. It’s situated at a Residential Area.

 

 

GENERAL COMMENTS

 

The subject company maintains acceptable business volume.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.85

UK Pound

1

INR 90.58

Euro

1

INR 79.97

BDT

1

INR 0.78

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TRU

                                                


 

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.