MIRA INFORM REPORT

Report No. :	507298
Report Date :	08.05.2018

IDENTIFICATION DETAILS

Name :	ANANDA SHIPYARD AND SLIPWAYS LIMITED
Registered Office :	Ananda Group (9^th floor), 10/1, City Heart, 67, Naya Paltan, Dhaka-1000
Country :	Bangladesh
Financials (as on) :	30.06.2017
Date of Incorporation :	02.06.1999
Com. Reg. No.:	C-37862
Legal Form :	Public (but not listed)
Line of Business :	Manufacturer and Exporter of Boats, Fast Petrol Craft, Ocean Going Ice Class, Cargo Ships, Tankers, Dredgers, Special Purpose Vessels, etc.
No. of Employees :	1362

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 :	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 (30.09.2017)	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	:	ANANDA SHIPYARD AND SLIPWAYS LIMITED
Head Office	:	Ananda Group (9^th floor), 10/1, City Heart, 67, Naya Paltan, Dhaka-1000, Bangladesh.
Tel No	:	88-02-935202, 9331510, 01730739050
Fax No	:	88-02-8312681
E-mail	:	info@anandashipyard.com, info@anandagroup.biz, shipyard@anandagroup.biz
Website	:	www.anandashipyard.com, info@anandagroup.biz
Date/ Year of Incorporation	:	02.06.1999
Incorporation No.	:	C-37862
Legal Form (General)	:	Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorship 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, 2016	BDT 3125 Million	BDT 15852.00 Million	BDT 171 Million
30^th June, 2017	BDT 3390 Million	BDT 16980.81 Million	BDT 211 Million

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Abu Bakkar Mohammad Feroz
Designation	:	Manager (Commercial)
Contract No	:	N/A

Locations Details
Operating Address	:	Ananda Group (9^th floor), 10/1, City Heart, 67, Naya Paltan, Dhaka-1000, Bangladesh.
Tel No	:	88-02-935202, 9331510, 01730739050
Fax No	:	88-02-8312681
E-mail	:	info@anandashipyard.com, info@anandagroup.biz, shipyard@anandagroup.biz
Website	:	www.anandashipyard.com, info@anandagroup.biz

Location :

: Owned

Rented

Ö

Leased

Area

3600

Sq. ft.

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

Shipyard Address:
Address	:	Meghna Ghat, Sonargaon, Narayangong, Bangladesh
Tel No	:	Nil
Fax No	:	Nil

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

Employee:
No. of Employees	In Office	:	40	In Factory	:	1322
	In Branch	:	N/A	Total	:	1362

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share	County
Dr. Abdullahel Bari	70500000	Bangladesh.
Mrs. Afruja Bari	70500000	Bangladesh.
Mr. Abdullah Zarina Zaffreen	12750000	Bangladesh.
Mr. Abdullah Nahid Niger	10190525	Bangladesh.
Mr. Abdullah Nazma Nowroz	10000000	Bangladesh.
Mr. Md. Rashidur Rahman	2750000	Bangladesh.
Mr. Md. Tariqul Islam	2750000	Bangladesh.
Mrs. Fahmida Bulbul	1005000	Bangladesh.
Mr. Abdullah Muheel Momit Aurko	1000000	Bangladesh.
General Public	8554475	Bangladesh.

DIRECTORS
Name	:	Dr Abdullahel Bari
Designation	:	Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Mrs. Afruja Bari
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Abdullah Zarina Zafreen
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT
Name	:	Mrs. Afruja Bari
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Abu Bakkar Mohammad Feroz
Job Description	:	Manager (Commercial)
Nationality	:	Bangladeshi.
Email address	:	feroz@anandagroup.biz
Other details	:	N/A

BUSINESS OPERATIONS
Nature of Activity :	Manufacturer	Ö	Trader	Dealer	Distributor
	Exporter	Ö	Importer	Services	Others

Range of Products:
Products	:	Boats, Fast Petrol Craft, Ocean Going Ice Class, Cargo Ships, Tankers, Dredgers, Special Purpose Vessels, etc.
Production Capacity	:	8000 tons of steel/year or 2 Nos 1400 TEUs Container ship Maximum size 20000 DWT or 170 m x 30 m
Last Year Production	:	N/A
Import Products	:	N/A
Export Products	:	N/A

Trading Terms:

Purchasing Terms:	L/C		Cash	Ö	Others
	Credit :	Ö	30 days		60 days	90 days	days

Selling Terms :	L/C	Ö	Cash	Others
	Credit :		30 days	60 days	Ö	90 days	days

DETAILED DATA
Trade Reference & Related Parties	:	Overseas Clients			:	Navalis Shipping GmbH & Co. KG Komrowski Maritim Johs, Gram-Hanssen A/S Herman Lohmann Schiffarts Stella Shipping P/S-Denmark Peoples Republic of Mozambique Wesels Reederei GmbH & Co. KG
		Local Clients			:	N/A
		Overseas Suppliers			:	N/A
		Local Suppliers			:	N/A
Trade Markets	:	Exports(Country)			:	Europe, Germany, Japan, Singapore, China, India,
		Imports(Country)			:	N/A
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	N/A
Operation Status			:	Active

CAPITAL STRUCTURE
Authorized Capital	:	BDT 5000 Million
Paid-up Capital	:	BDT 1900000000
No. of Shares	:	190000000
Share Value	:	BDT 10.00 Each
Main Assets	:	BDT 16980.81 Million

FINANCIAL STATEMENT- DETAILED

Summary information has been provided

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Name of The Group		:	Ananda Group of Companies
Name of Mother Company		:	Nil
Subsidiary		:	Nil
Sister Concerns		:	Ananda Railtech Ltd Ananda Builder’s Ltd. Ananda Bag Mills Ltd Ananda-El-Dorado Ltd Ananda International Ltd Ananda Shipping Lines Ltd. Zarina Composite Textiles Industries Ltd Ananda Compact Engineering Works Ltd Ananda Software & Information Technology Ltd
BANKING
Bank Name	:	Islami Bank Bangladesh Ltd
Bank Address	:	Kawran Bazar Branch, T. K. Bhaban (1^st Floor), 13, Kazi Nazrul Islam Avenue, Dhaka-1206, Bangladesh Tel: 88-02-9137571, 9125759, 8155211, 01711439094, 01713438523 Fax: 88-02-8117587

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 Ananda Group (9^th Floor), 10/1, City Heart, 67, Naya Paltan, Dhaka-1000, Bangladesh. It’s situated at a Commercial Area.

GENERAL COMMENTS

The subject company is reputed company in this line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.11
UK Pound	1	INR 90.85
Euro	1	INR 80.12
BDT	1	INR 0.79

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

INFORMATION DETAILS

Analysis Done by :	NIS
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)

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.