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MIRA INFORM REPORT
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Report No. : |
515142 |
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Report Date : |
22.06.2018 |
IDENTIFICATION DETAILS
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Name : |
TASNIM CHEMICAL COMPLEX LTD. |
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Registered Office : |
Fresh Vila, House# 15, Road# 34, Gulshan-1, Dhaka-1212 |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2017 [Summarized] |
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Date of Incorporation : |
09.08.2009 |
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Com. Reg. No.: |
C-79047 |
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Legal Form : |
Private Co
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Line of Business : |
Manufacturer, Distributor and Importer of Caustic Soda, Hydrochloric Acid and Chlorinated Paraffin Wax. |
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No. of Employees : |
130 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
IDENTIFICATION DETAILS
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Correct company Name |
: |
TASNIM CHEMICAL COMPLEX LTD. |
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Head Office |
: |
Fresh Vila, House# 15, Road# 34, Gulshan-1, Dhaka-1212, Bangladesh. |
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Tel No |
: |
88-02-9887545, 9889490, 9884791, 9889306, 9884696, 9881857, 98891425 |
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Fax No |
: |
88-02-9884896, 9889361, 8312919 |
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E-mail |
: |
info@meghnagroup.biz, manir-tccl@yahoo.com, sales_teel@meghnagroup.biz |
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Website |
: |
www.meghnagroup.biz |
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Date/ Year of Incorporation |
: |
09.08.2009 |
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Incorporation
No. |
: |
C-79047 |
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Legal Form (General) |
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Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
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LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
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Registrar of
Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
Other
Registry & Certification Details
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Organization
Name |
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Dhaka Chamber of Commerce & Industry |
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Membership No |
: |
N/A |
FINANCIALS- SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income |
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30th June’2016 |
BDT 3863 Million |
BDT 6987.30 Million |
BDT 1287.60 Million |
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30th June’2017 |
BDT 4190 Million |
BDT 7325.50 Million |
BDT 1387.40 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
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Mr. Mostafa Kamal |
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Designation |
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Chairman &
Managing Director |
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Contract No |
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N/A |
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Locations Details |
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Operating Address |
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Fresh Vila, House# 15, Road# 34, Gulshan-1, Dhaka-1212, Bangladesh. |
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Tel No |
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88-02-9887545, 9889490, 9884791, 9889306,
9884696, 9881857, 98891425 |
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Fax No |
: |
88-02-9884896, 9889361, 8312919 |
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E-mail |
: |
info@meghnagroup.biz, manir-tccl@yahoo.com, sales_teel@meghnagroup.biz |
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Website |
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www.meghnagroup.biz |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
3500 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
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Semi-commercial office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
Ö |
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Factory Address: |
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Address |
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Meghna City, Meghna Gath, Sonarghown,
Naranyangong. Bangladesh. |
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Tel No |
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Nil |
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Fax No |
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Nil |
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Branch Address: |
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Address |
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Nil |
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Tel No |
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Nil |
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Fax No |
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Nil |
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Employee: |
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No. of Employees |
In Office |
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30 |
In Factory |
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100 |
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In Branch: |
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Nil |
Total |
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130 |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
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Mr. Mostafa Kamal |
1000 |
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Ms. Tahmina Binthe Mostafa |
1000 |
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Ms. Tanjima Binthe Mostafa |
1000 |
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Beauty Akhter |
1000 |
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Tanveer Ahmed Mostafa |
1000 |
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Tasnim Binthe Mostafa |
1000 |
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Janata Flour And Dal Mills Ltd. |
300000 |
DIRECTORS
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Name |
Designation |
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Mr. Mostafa Kamal |
Managing Director |
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Beauty Akhter |
Director |
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Ms. Tahmina Binthe Mostafa |
Director |
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Ms. Tanjima Binthe Mostafa |
Director |
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Tanveer Ahmed Mostafa |
Director |
MANAGEMENT
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Name |
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Mr. Mostafa Kamal |
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Job Description |
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Managing Director |
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Nationality |
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Bangladeshi. |
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Email address |
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N/A |
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Other details |
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N/A |
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Name |
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Mr. Md. Saifur
Rahman |
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Job Description |
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Officer
(Commercial) |
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Nationality |
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Bangladeshi. |
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Email address |
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N/A |
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Other details |
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N/A |
BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
Ö |
Services |
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Others |
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Range of
Products: |
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Products |
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Caustic Soda, Hydrochloric Acid and
Chlorinated Paraffin Wax. |
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Production Capacity |
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100 ton Caustic Soda per Day with 85 ton
Chlorine as Bi-Product |
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Last Year Production |
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Do. |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
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Cash |
Ö |
Others |
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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days |
DETAILED
DATA
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Trade Reference & Related Parties |
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Overseas Clients |
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N/A |
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Local Clients |
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N/A |
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Overseas Suppliers |
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N/A |
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Local Suppliers |
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N/A |
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Trade Markets |
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Exports(Country) |
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N/A |
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Imports(Country) |
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India , China |
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Brand Name |
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N/A |
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Certified |
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ISO 9001:2000 certificate |
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Name of Auditors |
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N/A |
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Operation Status |
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Active |
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CAPITAL
STRUCTURE
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Authorized Capital |
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BDT 500 Million |
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Paid-up Capital |
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BDT 30600000 |
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No. of Shares |
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306000 |
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Share Value |
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BDT 100.00 Each |
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Main Assets |
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BDT 7325.50 Million |
FINANCIAL
STATEMENT- DETAILED
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Summary information has been given |
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ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
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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 Kamal Trading Co. Ltd. Meghna Properties Ltd. United Sugar Mills Ltd Tanveer Steel Mills Ltd. Unique Power Plant Ltd Tanveer Paper Mills Ltd. United Fibre Industries Ltd Fresh Cement Industries Ltd. Janata Flour & Dal Mills Ltd. Sonargaon Salt Industries Ltd. Unique Cement Industries Ltd Mercantile Shipping Lines Ltd Meghna Flour & Dal Mills Ltd. Tasnim Chemical Complex Ltd. Tanveer Polymer Industries Ltd Tasnim Condensed Milk Limited Global Ad Star Bag Industries Ltd Everest Power Generation Co. Ltd. Meghna Seeds Crushing Mills Ltd. Dhaka Plastic Bottle (PET) Ind. Ltd Meghna Dairy & Food Products Ltd. Bagdad Vegetable Oil Industries Ltd. Meghna Shipbuilders & Dockyard Ltd. Bangladesh National Insurance Co. Ltd.
M.M. Printing & Packaging Company Ltd Everest CNG Refueling & Conversion Ltd United Mineral Water & Pet Industries Ltd Meghna Coconut & Mustard Oil Mills Ltd. |
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Subsidiary |
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N/A |
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Name of The Group |
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Meghna Group of Industries Ltd. |
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BANKING
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Bank Name
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Uttara Bank
Limited Premier Bank
Limited Shahjala Islami
Bank Ltd. Mutual Trust Bank
Limited Dutch Bangle Bank
Limited United Commercial
Bank Ltd |
ADVERSE
DATA MONITORING
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Dishonored Checks |
:
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No Record
Found |
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Debt |
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No Record Found |
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Litigation |
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Clear |
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Performance Defaults |
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No Record
Found |
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Adverse Local Media Coverage/ Adverse Filling History |
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No Record Found |
SITE
VISIT COMMENTARY
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Our representative visited the subject company Head Office at Fresh
Vila, House# 15, Road# 34, Gulshan-1, Dhaka-1212, Bangladesh. It is situated at
Residential Area. |
GENERAL
COMMENTS
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Based on the financial statements, SC’s financial performance appears
to be Above Average. SC has been in its line of business for about 9 years.
Taking into account its long-standing history, reputation in the market, as
well as its financial condition. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.20 |
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1 |
INR 89.58 |
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Euro |
1 |
INR 78.79 |
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BDT |
1 |
INR 0.81 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.