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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

508226

Report Date :

11.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

OPSO SALINE LTD.

 

 

Registered Office :

Sfarm Nilakash, 37, Segun Bagicha, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Financials (as on) :

30.06.2017 [Summarized]

 

 

Date of Incorporation :

14.04.1986

 

 

Com. Reg. No.:

C-15465

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Manufacturer, Distributor, Exporter and Importer of I.V. Infusion Set, Scalp Vein Set, Insulin Syringe, Stainless Steel Cannula etc.

 

 

No. of Employees :

2480

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd 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

:

OPSO SALINE LTD.

Head Office

:

Sfarm Nilakash, 37, Segun Bagicha, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9332394, 9337111

Fax No

:

88-02-9330191

E-mail

:

info@opsoglobal.com

Website

:

www.opsoglobal.com

Date/ Year of Incorporation

:

14.04.1986

Incorporation No.

:

C-15465

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

 Cantonment Board                                              Chief Controller of  Import & Export (CCIE)

 

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

Income/ (Loss)

30th June’2016

BDT 484 Million

BDT 191.46 Million

BDT 26.25 Million

30th June’2017

BDT 797 Million

BDT 267.25 Million

BDT 39.46 Million

 

 

 

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. AFM. Enamul Hoque

Designation

:

Manager (Commercial)

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

Sfarm Nilakash, 37, Segun Bagicha, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9332394, 9337111

Fax No

:

88-02-9330191

E-mail

:

info@opsoglobal.com

Website

:

www.opsoglobal.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

1800

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

Ö

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Bogra Road, Barishal, Bangladesh.

Tel No

:

88-0431-52348, 53967

Fax No

:

88-0431-52552

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

75500

Sq. ft.

 

Corporate Head office  

 

 

 

Address

:

Opsonin Building, 30, New Eskaton Road, Dhaka-1000, Bangladesh.

Tel No

:

88-02-48311900, 55142000

Fax No

:

88-02-8311905

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

50

In Factory

:

2130

Sales

:

300

Total

:

2480

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Abdur Rakib Khan

333333

Capt. Abdus Sabur Khan (Retd.)

333333

Mr. Abdur Rauf Khan

333333

 

 

DIRECTORS

 

Name

Designation

Mr. Abdur Rouf Khan

Managing Director

Capt. (Rtd) Abdur Sabur Khan

Director

Mr. Abdur Raquib Khan

Director

 

 

MANAGEMENT

 

Name

:

Mr. Abdur Rouf Khan

Job Description

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. AFM. Enamul Hoque

Job Description

:

Manager (Commercial)

Nationality

:

Bangladeshi.

Email address

:

enamul@opsonin.net

Other details

:

N/A

 

Name

:

Mr. Khalilur Rahman

Job Description

:

Manager (Admin)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Masud Parvez

Job Description

:

Executive  (Commercial)

Nationality

:

Bangladeshi.

Email address

:

masud.osl@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

:

I.V. Infusion Set, Scalp Vein Set, Insulin Syringe, Stainless Steel Cannula etc.

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)

:

Myanmar, Sri Lanka, Pakistan, Philippines, Bhutan, Yemen, Ukraine, Jordan, Saudi Arabia

 

Imports(Country)

:

China, India, Pakistan, Thailand, Malaysia, Germany, Italy

 

Brand Name

:

N/A

Certified

:

ISO 9001:2008

Name of Auditors

:

N/A

Operation Status

:

Active

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

BDT 150 Million

 

Paid-up Capital

:

BDT 99999900

 

No. of Shares

:

999999

 

Share Value

:

BDT 100.00 Each

 

Main Assets

:

BDT 267.25 Million

 

 

FINANCIAL STATEMENT- DETAILED

 

 

Summary information is given

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Opsonin Group 

Subsidiary

:

Nil

Name of  The Group

:

Jokky Garments Ltd.

Crescent Chemicals Ltd.

Global Capsules Limited.

Opsonin Pharma Limited

Opsonin Bulk Drugs Limited

Global Heavy Chemical Limited.

Opsonin Pharmaceuticals Limited.

Opsonin Chemical  Industries  Ltd.

 

 

 

 

BANKING

 

 

 

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: 88-02-9666331000

 

 

 

Bank Name  

:

AB Bank Limited

 

Bank Address

:

New Elephant Road

Novera Square, House# 05, Road# 02, Dhanmondi, Dhaka-1205, Bangladesh

Tel: 88-02-8616137, 9674002, 8613967

Fax: 88-02-8616128

 

 

 

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 Sfarm Nilakash, 37, Segun Bagicha, Dhaka-1000, Bangladesh. It is Situated at a Semi-Commercial area.

 

 

GENERAL COMMENTS

The subject company is a well-known reputed company in Bangladesh.  It is reputed company in this line of business.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.38

UK Pound

1

INR 91.39

Euro

1

INR 79.89

BDT

1

INR 0.79

 

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)

 

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.