3decades

MIRA INFORM REPORT

Report No. :	512761
Report Date :	01.06.2018

IDENTIFICATION DETAILS

Name :	OPSONIN PHARMA LIMITED

Formerly Known As :	OPSONIN CHEMICAL INDUSTRIES LTD.

Registered Office :	Opsonin Bhaban (5^th Floor), 30, New Eskaton Road, Dhaka-1000

Country :	Bangladesh

Financials (as on) :	30.06.2017 (Summarized)

Date of Incorporation :	10.03.1976

Com. Reg. No.:	C-4741

Legal Form :	Private Company

Line of Business :	Manufacturer, Distributor, Exporter and Importer of Tablet, Capsule, Injection, Syrup, Suspension, Animal Nutrition and Other Feed Supplements.

No. of Employees :	2140

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

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

(30.09.2017)

Current Rating

(31.12.2017)

Bangladesh

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 2005 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 $28 billion in FY 2016-17. The sector continues to grow despite the need for improvements in factory safety conditions and workers’ rights to avert further high-profile accidents that killed more than 1,000 workers in 2012 and 2013. In FY 2016-17, steady export growth in the garment sector, combined with $13 billion in remittances from overseas Bangladeshis, contributed to Bangladesh's rising foreign exchange reserves.

The recent influx of over 700,000 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 record flooding. Recent improvements to energy infrastructure, including the start of liquefied natural gas imports in 2018, represent a major step forward in resolving a key growth bottleneck.

Source : CIA

Company name

OPSONIN PHARMA LIMITED

EXECUTIVE SUMMARY

*IDENTIFICATION DETAILS*
Correct company Name	:	Opsonin Pharma Limited
Previous Name	:	Opsonin Chemical Industries Ltd.
Head Office	:	Opsonin Bhaban (5^th Floor), 30, New Eskaton Road, Dhaka-1000, Bangladesh.
Tel No	:	88-02-9332262, 9356451, 9356533, 9357023
Fax No	:	Nil
E-mail	:	info@opsonin-pharma.com
Website	:	www.opsonin-pharma.com
Date/ Year of Incorporation	:	10.03.1976
Incorporation No.	:	C-4741
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

Organization Name

Dhaka Chamber of Commerce & Industry

Membership No

N/A

FINANCIALS- SUMMARY

Year	Turnover/ Sales	Assets	Income
30^th June’2016	BDT 867 Million	BDT 305.10 Million	BDT 57.68 Million
30^th June’2017	BDT 981 Million	BDT 312.25 Million	BDT 68.90 Million

FULLCHECK REPORT DETAILS

*Information Parted By*
Name	:	Mr. AFM. Enamul Hoque
Designation	:	Manager (Commercial)
Contract No	:	N/A

*Locations Details*
Operating Address	:	Opsonin Bhaban (5^th Floor), 30, New Eskaton Road, Dhaka-1000, Bangladesh.
Tel No	:	88-02-9332262, 9356451, 9356533, 9357023
Fax No	:	Nil
E-mail	:	info@opsonin-pharma.com
Website	:	www.opsonin-pharma.com

Location :

: Owned

Rented

Leased

Area

6500

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	:	Bagura Road, Barisal, Bangladesh.
Tel No	:	N/A
Fax No	:	N/A

Branch Address:

Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	370	In Factory	:	1770
	In Branch:	:	N/A	Total	:	2140
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Capt. (Rtd) Abdus Sabur Khan	175000
Mr. Abdur Rouf Khan	175000
Mr. Abdur Raquib Khan	175000

DIRECTORS

Name	Designation
Capt. (Rtd) Abdus Sabur Khan	Chairman
Mr. Abdur Rouf Khan	Managing Director
Mr. Abdur Raquib Khan	Deputy Managing Director
Mr. Khandokar Abul Hasan	Director
Mr. Abdul Khaleque Khan	Director

MANAGEMENT

Name	:	Mr. Abdur Rouf Khan
Job Description	:	Managing Director
Nationality	:	Bangladeshi
Email address	:	rouf@opsonin.net
Other details	:	N/A

Name	:	Mr. Abdur Raquib Khan
Job Description	:	Deputy Managing Director
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Syed Golam Rahman
Job Description	:	Executive Director (Marketing & Sales)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Abdul Momen Talukder
Job Description	:	General Manager (Sales)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. AFM. Enamul Hoque
Job Description	:	Manager (Commercial)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Ashique
Job Description	:	Officer (Admin & HR)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Atikul Islam
Job Description	:	Assistant Manager (Sales)
Nationality	:	Bangladeshi
Email address	:	atikul@opsonin.net
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	:	Tablet, Capsule, Injection, Syrup, Suspension, Animal Nutrition and Other Feed Supplements.
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	Ö	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, Africa, Oceania, Mid East, Eastern Asia
		Imports(Country)			:	USA, Spain, India, China, Japan
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	N/A
Operation Status			:	Active

CAPITAL STRUCTURE

Authorized Capital	:	BDT 150 Million
Paid-up Capital	:	BDT 52500000
No. of Shares	:	525000
Share Value	:	BDT 100.00Each
Main Assets	:	BDT 305.10 Million

FINANCIAL STATEMENT- DETAILED

Summary information has been given.

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Name of The Group	:	Opsonin Group
Subsidiary	:	N/A
Sister Concerns	:	Opsosaline Ltd Jokky Garments Ltd. Crescent Chemicals Ltd. Global Capsules Limited. Opsonin Bulk Drugs Limited Global Heavy Chemical Limited. Opsonin Pharmaceuticals Limited. Opsonin Chemical Industries Ltd.

BANKING

Bank Name	:	Pubali Bank Limited
Bank Address	:	Barishal Branch Barishal, Bangladesh.

Bank Name	:	Exim Bank Limited
Bank Address	:	New Eskaton Road Branch 27/1, New Eskaton Road, Dhaka, Bangladesh Tel: 88-02-9349196, 8314159, 8314435 Fax: 88-02-9349196

Bank Name	:	Standard Chartered Bank
Bank Address	:	Gulshan Head Office Branch 67, Gulshan Avenue, Dhaka-1212, Bangladesh Tel: 88-02-8833003

Bank Name

Hong Kong Shanghai Banking Corporation

Bank Address

Dhaka Main Office

Anchor Tower, 108, Bir Uttam C R Dutta Road, Dhaka-1205, Bangladesh.

Tel: 88-02-9660536-43

Fax: 88-02-9660554

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 Opsonin Bhaban (5th Floor), 30, New Eskaton Road, Dhaka-1000, Bangladesh. It is situated at Commercial Area.

GENERAL COMMENTS

SC is considered medium-sized in its line with financial performance appears to be average.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.45
UK Pound	1	INR 89.79
Euro	1	INR 78.79
BDT	1	INR 0.80

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

INFORMATION DETAILS

Analysis Done by :	VIV

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.