3decades

MIRA INFORM REPORT

Report No. :	494035
Report Date :	05.03.2018

IDENTIFICATION DETAILS

Name :	THE CONSOLIDATED TEA AND LANDS COMPANY (BANGLADESH) LIMITED

Registered Office :	Finlay House (1^st Floor), Agrabad, Chittagong

Country :	Bangladesh

Financials as on:	30.06.2017 (SUMMARIZED)

Date of Incorporation :	07.09.2009

Legal Form :	Private Co

Line of Business :	Manufacturer, Importer & Distributor of Tea, Rubber

No. of Employees :	16404

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 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	:	The Consolidated Tea And Lands Company (Bangladesh) Limited
Head Office	:	Finlay House (1^st Floor), Agrabad, Chittagong, Bangladesh.
Tel No	:	88-031-716182, 723829, 723829
Fax No	:	88-031-2521650
E-mail	:	info@jfbdltd.com, teaestate@filaysbd.com
Website	:	www.jfteabd.com
Date/ Year of Incorporation	:	07.09.2009
Incorporation No.	:	CH-7227
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)
30^th June, 2017	BDT 727.07 Million	BDT 4142.20 Million	BDT 1.32 Million

FULLCHECK REPORT DETAILS

Information Parted By
Name	:	Mr. Iftekhar Ahmed
Designation	:	Company Secretary
Contract No	:	N/A

Locations Details
Operating Address	:	Finlay House (1^st Floor), Agrabad, Chittagong, Bangladesh.
Tel No	:	88-031-716182, 723829, 723829
Fax No	:	88-031-2521650
E-mail	:	info@jfbdltd.com, teaestate@filaysbd.com
Website	:	www.jfteabd.com

Location :

: Owned

Rented

Leased

Area

15987.82

Sq. ft.

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

Tea Estate Address:

Address	:	Finlay House, P.O. Kalighat, Balisera Tea Estate, Srimangal, Moulavi Bazar, Sylhet, Bangladesh
Tel No	:	88-01711563695
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

Sq. ft.

Branch:

Address	:	Finlay House, House# 3; Road # 94, Gulshan-2, Dhaka-1212, Bangladesh.
Tel No	:	88-02-9850271-4
Fax No	:	88-02-8850120

Employee:

No. of Employees	In Office	:	85	In Factory	:	16319
	In Branch	:	Nil	Total	:	16404
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share	County
Uttara Automobiles Manufacturers Ltd.	450000	Bangladeshi.
M. M. Ispahani Limited	150000	Bangladeshi.
Namreen Enterprise Ltd.	600000	Bangladeshi.
Pedrollo Nk Limited	487500	Bangladeshi.
Mr. Ahmed Quamrul Islam Chowdhury	150000	Bangladeshi.
Mr. Mohammed Showkat Ali Chowdhury	187500	Bangladeshi.
Mr. Anis Ahmed	300000	Bangladeshi.
EC Securities Ltd	337500	Bangladeshi.
Mr. Matiur Rahman	37500	Bangladeshi.
Silvia Shipmenagement Ltd.	150000	Bangladeshi.
Ghazipore and Mirzapore Tea Estates (BD) Ltd	150000	Bangladeshi.

DIRECTORS

Name	:	Mr. Ahmed Quamrul Islam Chowdhury
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A



Name	:	Mr. Matiur Rahman
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A



Name	:	Mr. Mirza Salman Ispahani
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A



Name	:	Mr. Mohammed Nader Khan
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A



Name	:	Mr. Mohammed Showkat Ali Chowdhury
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

6.

Name	:	Mr. Anis Ahmed
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

7.

Name	:	Mr. Azam Jahangir Chowdhury
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT

Name	:	Mr. Ahmed Quamrul Islam Chowdhury
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Iftekhar Ahmed
Job Description	:	Company Secretary
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Ö	Trader		Dealer	Distributor	Ö

	Exporter		Importer	Ö	Services	Others

Item dealing in:

Products	:	Tea, Rubber
Production Capacity	:	Tea: 12 million Kilos per annum Rubber: 850 Tonnes per annum
Last Year Production	:	Do
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			:	A.S.S Kudia Bantvawalla Ltd Javed Ali Paracha T. Suleman & Company Karachi Tea Company
		Local Clients			:	N/A
		Overseas Suppliers			:	N/A
		Local Suppliers			:	N/A
Trade Markets	:	Exports(Country)			:	N/A
		Imports(Country)			:	China, India.
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 300000000

No. of Shares	:	3000000

Share Value	:	BDT 100.00 Each

Main Assets	:	BDT 4142.20 Million

FINANCIAL STATEMENT- DETAILED

Summary information has been given.

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Name of The Group	:	Nil
Name of Mother Company	:	Nil
Subsidiary	:	Nil
Sister Concerns	:	Tea & Plantation Ltd. JF ( Bangladesh) Limited Baraoora (Sylhet) Tea Company Limited

BANKING

Bank Name

Bangladesh Krishi Bank Limited

Bank Address

Agrabad Corporate Branch

Noor Mansion(1st Floor), 15, Agrabad Commercial Area,

Chittagong-4100, Bangladesh

Tel: 88-031-723600

E-Mail: corpagrabad@krishibank.org.bd

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 Finlay House (1st Floor), Agrabad, Chittagong, Bangladesh. Its situated at a Commercial Area.

GENERAL COMMENTS

The subject company is reputed company in this line of business. We recommended that Credit can proceed normally in Moderate amount

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.22
UK Pound	1	INR 89.71
Euro	1	INR 79.50
BDT	1	INR 0.79

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

INFORMATION DETAILS

Analysis Done by :	PRA

Report Prepared by :	SDA

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.