MIRA INFORM REPORT

Report No. :	495920
Report Date :	10.03.2018

IDENTIFICATION DETAILS

Name :	ACI HEALTHCARE LIMITED
Registered Office :	245, Tejgaon Industrial Area, Dhaka-1208
Country :	Bangladesh
Financials (as on) :	30.06.2017
Date of Incorporation :	18.02.2013
Com. Reg. No.:	C-107472C-107472
Legal Form :	Public Listed Co
Line of Business :	Manufacturer and Distributor of Pharmaceutical Products
No. of Employees :	150

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	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
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	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 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

IDENTIFICATION DETAILS
Correct company Name	:	ACI HEALTHCARE LIMITED
Head Office	:	245, Tejgaon Industrial Area, Dhaka-1208, Bangladesh
Tel No	:	88-02-8878603
Fax No	:	88-02-8878626, 8878619
E-mail	:	info@aci-bd.com
Website	:	www.aci-bd.com
Date/ Year of Incorporation	:	18.02.2013
Incorporation No.	:	C-107472
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)

FINANCIALS- SUMMARY
Year	Turnover/ Sales	Assets	Income/ (Loss)
30^th June’2016	-	BDT 2406253318	(BDT -6387713)
30^th June’2017	BDT 53,960,891	BDT 4847185626	BDT 30932396

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mrs. Tsalima
Designation	:	Director (Financial)
Contract No	:	N/A

Locations Details
Operating Address	:	245, Tejgaon Industrial Area, Dhaka-1208, Bangladesh
Tel No	:	88-02-8878603
Fax No	:	88-02-8878626, 8878619
E-mail	:	info@aci-bd.com
Website	:	www.aci-bd.com

Location :

: Owned

Rented

Leased

Ö

Area

2400

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	:	Tripurdi, Sonargaon, Narayanganj, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Ö

Rented

Leased

Area

1,241.71

decimal

Corporate Address:
Address	:	ACI Centre, 245, Tejgaon I/A, Dhaka-1208, Bangladesh.
Tel No	:	88-02-8878601-15, 956254, 9886029
Fax No	:	88-02-8878626, 88786029

Branch:
Address	:	9, Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	88-02-9556254
Fax No	:	88-02-9565257

Employee:
No. of Employees	In Office	:	45	In Factory	:	100
	In Branch:	:	5	Total	:	150
Details:

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share	County
Mr. M Mohibuz Zaman	1500000	Bangladesh.
Dr. Arif Dowla	10000	Bangladesh.
Mrs. Najma Dowla	10000	Bangladesh.
Ms. Shusmita Anis	10000	Bangladesh.
Mr. M Anis Ud Dowla	2000000	Bangladesh.
Mr. Priyatosh Data	1000	Bangladesh.
Advanced Chemical Industries Limited	46469000	Bangladesh.

DIRECTORS
1.
Name	:	Mr. M. Mohibuz Zaman
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
2.
Name	:	Dr. Arif Dowla
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
3.
Name	:	Mrs. Najma Dowla
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
4.
Name	:	Mr. M Anis Ud Dowla
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
5.
Name	:	Mr. Priyatosh data
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

6.
Name	:	Mr. Juned Ahmed Chowdhory
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

7.
Name	:	Mr. Muallem A Chowdhory
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT
Name	:	Mr. M. Mohibuz Zaman
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Farhad Faysal
Job Description	:	Chief Executive Officer
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mrs. Tsalima
Job Description	:	Director (Financial)
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

Range of Products:
Products	:	Pharmaceutical Products
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)			:	N/A
		Imports(Country)			:	India, China
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	Rahman Rahman Huq Chartered Accountants
Operation Status			:	Active

CAPITAL STRUCTURE
Authorized Capital	:	BDT 2000 Million
Paid-up Capital	:	BDT 500000000
No. of Shares	:	50000000
Share Value	:	BDT10.00Each
Main Assets	:	BDT 4847185626

FINANCIAL STATEMENT- DETAILED

Balance Sheet :
	Currency	BDT
	Denomination	: In Taka
	Financial Year Ending	: 30^th June’2017
Financial Highlights	30^th June’2017	30^th June’2016
Assets
Property, Plant And Equipment	539,537,365	493,997,369
Intangible Assets	66,531,742	-
Capital Work-In-Progress	4,139,388,562	1,874,646,025
Deferred Tax Assets	3,074,610	-
Non-Current Assets	4,748,532,279	2,368,643,394
Royalty Receivables	55,468,840	-
Advances, Deposits And Prepayments	40,981,315	35,568,636
Cash And Cash Equivalents	2,203,192	2,041,288
Current Assets	98,653,347	37,609,924
Total Assets	4,847,185,626	2,406,253,318
Equity
Share Capital	500,000,000	500,000,000
Retained Earnings	18,959,001	(11,973,395)
Total Equity	518,959,001	488,026,605
Liabilities
Long Term Bank Loan	2,578,976,156	768,458,098
Non-Current Liabilities	2,578,976,156	768,458,098
Loans And Borrowings	110,000,000	-
Other Payables And Accruals	188,390,961	103,512,465
Intercompany Payables	1,435,859,161	1,046,256,150
Current Tax Payable	15,000,346	-
Current Liabilities	1,749,250,468	1,149,768,615
Total Liabilities	4,328,226,624	1,918,226,713
Total Equity And Liabilities	4,847,185,626	2,406,253,318

Income Statement :
	Currency	:BDT
	Denomination	: In Taka
	Financial Year Ending	: 30^th June’2017
Financial Highlights	30^th June 2017	30^th June 2016
Royalty Income	53,960,891	-
Amortization Of Product Development Cost	(3,188,796)	-
Gross Profit	50,772,096	-
General And Administrative Expenses	(6,941,216)	(5,933,215)
Operating Profit/(Loss)	43,830,879	(5,933,215)
Foreign Exchange Gain/(Loss)	1,507,949	-
Net Finance Costs	(225,004)	(454,498)
Profit Before Contribution To WPPF	45,113,824	(6,387,713)
Contribution To WPPF	(2,255,691)	-
Profit Before Tax	42,858,133	(6,387,713)
Income Tax Expenses	(11,925,737)	-
Profit After Tax	30,932,396	(6,387,713)
Other Comprehensive Income	-	-
Total Comprehensive Income/(Loss)	30,932,396	(6,387,713)

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Sister Concerns	:	ACI Motors Ltd. ACI Salt Limited ACI Foods Limited ACI Logistics Limited ACI Pure Flour Limited ACI Edible Oils Limited ACI Formulations Limited Apex Leathercraft Limited ACI Consumer Electronics Tetly ACI (Bangladesh) Ltd Flyban Insecticides Limited Premiaflex Plastics Limited ACI Agrochemicals Limited Asian Consumer Care (Pvt.) Ltd. ACI Chemical Industries Limited Creative Communication Limited ACI Godrej Agrovet Private Limited
Mother Company	:	Advanced Chemical Industries (ACI)
Name of The Group	:	ACI Group

BANKING
Bank Name	:	Standard Chartered Bank.
Bank Address	:	Motijheel Branch Alico Building, 18-20, Motijheel C/A, Dhaka-1000, 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 245, Tejgaon Industrial Area, Dhaka-1208, Bangladesh. It is Situated at Industrial 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 65.07
UK Pound	1	INR 89.85
Euro	1	INR 80.16
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 :	TPT

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.