MIRA INFORM REPORT

Report No. :	488471
Report Date :	29.01.2018

IDENTIFICATION DETAILS

Name :	INCEPTA PHARMACEUTICALS LIMITED
Registered Office :	40, Shahid Tajuddin Ahmed Sarani, Tejgaon I/A, Dhaka-1208
Country :	Bangladesh
Date of Incorporation :	24.02.1999
Com. Reg. No.:	C-37317
Legal Form :	Private Co
Line of Business :	Manufacturer, Distributor, Exporter and Importer of Tablets, Capsules, liquids, Gel, Injections.
No. of Employees :	3300

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.

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

IDENTIFICATION DETAILS
Correct company Name	:	Incepta Pharmaceuticals Limited
Head Office	:	40, Shahid Tajuddin Ahmed Sarani, Tejgaon I/A, Dhaka-1208, Bangladesh
Tel No	:	88-02-8891688-703
Fax No	:	88-02-8891190
E-mail	:	info@inceptapharma.com, dhaka@inceptapharma.com
Website	:	www.inceptapharma.com
Date/ Year of Incorporation	:	24.02.1999
Incorporation No.	:	C-37317
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)

Other Registry & Certification Details
Value Added Tax(VAT) No	:	17141001532	Date of Registration	:	N/A
Issuing Authority	:	National Board of Revenue

FINANCIALS- SUMMARY
Year	Turnover/ Sales	Assets	Income
30^th June’2016	BDT 1310 Million	BDT 181.95 Million	BDT 75.98 Million
30^th June’2017	BDT 1997 Million	BDT 278.21 Million	BDT 118.63 Million
Exchange Rate	USD1- BDT 77.8200 EUR 1- BDT 100.2711 GBP 1- BDT .118.5354 AUD 1 - BDT 82.8563 JPY 1 - BDT 0.9286	CAD 1 - BDT 80.1887 SEK 1 - BDT 12.2870 SGD 1 - BDT 65.3045 CNH 1 - BDT 12.8399

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Abdul Muktadir
Designation	:	Managing Director
Contract No	:	N/A

Locations Details
Operating Address	:	40, Shahid Tajuddin Ahmed Sarani, Tejgaon I/A, Dhaka-1208, Bangladesh
Tel No	:	88-02-8891688-703
Fax No	:	88-02-8891190
E-mail	:	info@inceptapharma.com, dhaka@inceptapharma.com
Website	:	www.inceptapharma.com

Location :

: Owned

Rented

Ö

Leased

Area

8830

Sq. ft.

Type of Office :	: Commercial Office Bldg.		Semi-commercial office Bldg.
Retail shop		Industrial Park	Ö
Business Center		Home Office
Residential Bldg.

Factory:
Address	:	Dewan Idris Road, Bara Rangamatia, Jirabo, Savar, Bangladesh.
Tel No	:	88-02-7792502-06
Fax No	:	88-02-7792507

Location :

Owned

Ö

Rented

Leased

Area

5.5

Acores

Branch:
Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	330	In Factory	:	2970
	In Branch:	:	-	Total	:	3300
Details:

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share
Mr. Abdul Muktadir	1350000
Mr. Hasheen Muktadir	450000
Mr. Md. Enayet Hussain	450000
Mr. Zahir Uddin Mahmud	450000
Mr. Faridur Reza	450000
Mr. Abdur Rashid Majumdar	450000
Mr. Abdul Muqeed Majumdar	450000
Mr. Reaz Ahmed Khan	450000

DIRECTORS
Name	Designation
Mr. Abdul Muktadir	Managing Director
Mr. Hasheen Muktadir	Director
Mr. Md. Enayet Hussain	Director
Mr. Zahir Uddin Mahmud	Director
Mr. Faridur Reza	Director
Mr. Abdur Rashid Majumdar	Director
Mr. Abdul Muqeed Majumdar	Director
Mr. Reaz Ahmed Khan	Director

MANAGEMENT
Name	:	Mr. Abdul Muktadir
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Mahbub Karim
Job Description	:	General Manager.
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Hasheen Muktadir
Job Description	:	Director (Planning & Commercial)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Anayet Hossain
Job Description	:	Assistant Manager (HR)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Zakir Hossain
Job Description	:	Assistant Manager (HR)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Abu Rashal Palash
Job Description	:	Executive Officer
Nationality	:	Bangladeshi.
Email address	:	dhaka@inceptapharma.com
Other details	:	88-01714-165707

Name	:	Mr. Kh. A.T.M Shazzad Hossain
Job Description	:	Assistant Manager
Nationality	:	Bangladeshi.
Email address	:	dhakasouth@inceptapharma.com, di.dhakasouth@inceptapharma.com
Other details	:	88-01714165804

Name	:	Mr. Md. Aktheruzzaman Khan
Job Description	:	Assistant Manager
Nationality	:	Bangladeshi.
Email address	:	chittagonginc@gmail.com
Other details	:	88-01714-165736, 01714-165703

Name	:	Mr. Md. Zarjiz Alam Sarker
Job Description	:	Senior Executive
Nationality	:	Bangladeshi.
Email address	:	pms@inceptapharma.com
Other details	:	88-01714-165706, 01720624968

Name	:	Mr. Md. Habibur Rahman
Job Description	:	Senior Executive
Nationality	:	Bangladeshi.
Email address	:	mymenshinghinc@gmail.com
Other details	:	88-01714-165710

Name	:	Mr. Md. Sanaullah
Job Description	:	Executive Officer
Nationality	:	Bangladeshi.
Email address	:	noakhaliinc@gmail.com
Other details	:	88-01714-165712

Name	:	Mr. Md. Abul Kalam Azad
Job Description	:	Senior Officer
Nationality	:	Bangladeshi.
Email address	:	rangpurinc@gmail.com
Other details	:	88-01714-094077

Name	:	Mr. Mahbubul Karim
Job Description	:	Officer (Commercial)
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	:	Tablets, Capsules, liquids, Gel, Injections Etc.
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)				:	Srilanka, Kenai, Macau, Somalia, Myanmar, Vietnam
		Imports(Country)				:	China, India, Pakistan, Thailand, Germany
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	N/A
Operation Status			:	Active
CAPITAL STRUCTURE
Authorized Capital				:	BDT 1000 Million
Paid-up Capital				:	BDT 450000000
No. of Shares				:	4500000
Share Value				:	BDT100.00Each
Main Assets				:	BDT 278.21 Million

FINANCIAL STATEMENT- DETAILED

SC has submitted their financial summary information to local registry office

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns	:	Incept a Vaccine Limited
Subsidiary	:	Nil
Name of The Group	:	Nil

BANKING

Bank Name	:	Standard Chartered Bank
Bank Address	:	Head Office 67, Gulshan Avenue, Dhaka, Bangladesh
Bank Name	:	HSBC Bank Ltd.
Bank Address	:	Anchor Tower Branch. Anchor Tower, 108, Bir Uttam C R Dutta Road, Dhaka-1205, Bangladesh Tel: 88-02-9660536-43

Bank Name	:	National Bank Ltd.
Bank Address	:	Dilkhusha Branch. 48, Dilkusha C/A, Dhaka-1000, Bangladesh. Tel: 88-02-7168729-31

Bank Name	:	Citi Bank N.A
Bank Address	:	Motijheel Branch Dhaka, 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 40, Shahid Tajuddin

Ahmed Sarani, Tejgaon I/A, Dhaka-1208, Bangladesh. It is situates at an Industrial Park Area.

GENERAL COMMENTS

SC’s is maintaining acceptable business volume. Based on the financial statements, SC’s financial performance appears to be Above Average. Having been in operation for several years, Subject enjoys some recognition and impact in the line.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.50
UK Pound	1	INR 90.92
Euro	1	INR 79.07
BDT	1	INR 0.76

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

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	DNS

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.