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MIRA INFORM REPORT
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Report No. : |
509537 |
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Report Date : |
19.05.2018 |
IDENTIFICATION DETAILS
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Name : |
PROVITA HATCHERIES LIMITED |
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Registered Office : |
House# 270 (1st & 2nd
Floor), Lane# 3, New DOHS Baridhara, Dhaka- 1206, Bangladesh |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2016 |
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Date of Incorporation : |
13.02.2007 |
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Com. Reg. No.: |
Ch-6169 |
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Legal Form : |
Private Co |
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Line of Business : |
Breeder, Distributor, Hatching of Day One Chicks |
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No. of Employees : |
170 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 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.
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Source
: CIA |
EXECUTIVE
SUMMARY
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IDENTIFICATION DETAILS |
||
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Correct Company Name |
: |
Provita Hatcheries Limited |
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Head Office |
: |
House# 270 (1st & 2nd
Floor), Lane# 3, New DOHS Baridhara, Dhaka- 1206, Bangladesh |
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Tel No |
: |
88-02-8410805, 01713-189196 |
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Fax No |
: |
Nil |
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E-mail |
: |
hrm@provitagroupbd.com |
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Website |
: |
www.provitagroupbd.com |
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Date/ Year of Incorporation |
: |
13.02.2007 |
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Incorporation No. |
: |
Ch-6169 |
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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) ________________ |
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Issuing Authority |
: |
Registrar
of Joint Stock Companies & Firms City Corporation Municipal
Administration
Union Council Cantonment
Board
Chief Controller
of Import & Export |
FINANCIALS-
SUMMARY
|
Year |
Turnover/ Sales |
Assets |
Income |
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30th
June’2015 |
BDT 1202 Million |
BDT 1695.06 Million |
BDT 32.76 Million |
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30th
June’2016 |
BDT 1381 Million |
BDT 1725.35 Million |
BDT 39.70 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr.
Saiful Alam |
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Designation |
: |
AGM
& Admin (Provita Group) |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
: |
House# 270 (1st & 2nd
Floor), Lane# 3, New DOHS Baridhara, Dhaka-1206, Bangladesh |
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Tel No |
: |
88-02-8410805, 01713-189196 |
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Fax No |
: |
Nil |
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E-mail |
: |
hrm@provitagroupbd.com |
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Website |
: |
www.provitagroupbd.com |
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Location : |
:
Owned |
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Rented |
Ö |
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Leased |
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Area |
2400 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
Ö |
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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. |
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Factory: |
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Address |
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Neranjanpur Assodia Sardar,
Maizdi, Noakhali, Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Corporate Office: |
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Address |
: |
Progressive Tower (1st Floor),
1837, Sk. Mujib Road, Agrabad C/A, Chittagong, Bangladesh |
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Tel No |
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88-031-2524563, 2525465 |
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Fax No |
: |
N/A |
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Employee: |
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No. of Employees |
In Office |
: |
15 |
In
Factory |
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155 |
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In Branch: |
: |
Nil |
Total |
: |
170 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
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Mr. A. K. M. Aminul Islam
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140 |
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Mr. Muhammed Nurun Nobi |
140 |
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Mrs. Fahmida Afroz |
140 |
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Mrs. Sulekha Ibrahim |
200 |
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Mr. Ashfaque Mahmud |
80 |
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Mr. Rafi Mahmud |
90 |
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Mr. Ashraf Uddin Mahmud |
50 |
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Mr. Hasan Mahmud |
50 |
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Mr. Redwanul Hoque Bhuiyan |
110 |
DIRECTORS
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Name |
Designation |
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Mr. A. K. M. Aminul Islam
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Managing Director |
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Mr. Muhammed Nurun Nobi |
Director |
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Mrs. Fahmida Afroz |
Director |
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Mrs. Sulekha Nabi |
Director |
MANAGEMENT
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Name |
: |
Mr.
A. K. M. Aminul Islam |
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Job Description |
: |
Managing
Director |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
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Mr. Md. Anisur Rhaman |
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Job Description |
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Manager (Accounts) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Forid
Ahmed |
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Job Description |
: |
Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr.
Saiful Alam |
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Job Description |
: |
AGM
& Admin (Provita Group) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS
OPERATIONS
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Nature of Activity
: |
Breeder |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Hatching |
Ö |
Importer |
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Services
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Others |
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Range
of Products: |
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Products |
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Day One Chicks |
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Production Capacity |
: |
600,000 pcs/month |
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Last
Year Production |
: |
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 |
: |
N/A |
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Overseas Suppliers |
: |
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) |
: |
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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N/A |
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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 |
: |
BDT 100 Million |
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Paid-up Capital |
: |
BDT 100000 |
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No.
of Shares |
: |
1000 |
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Share
Value |
: |
BDT 100.00 Each |
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Main Assets |
: |
BDT 1725.35 Million |
FINANCIAL
STATEMENT- DETAILED
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Summary information has been shared |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Name of The Group |
: |
Mahmud Group/ Provita Group |
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Subsidiary |
: |
Nil |
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Sister Concerns |
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Provita Feed Ltd Bhuiya Brothers Mars Textile Ltd Provita Ship Yard ABS Composition Mahmud Jeans Ltd Mahmud Indigo Ltd Mahmud Enterprise Mousumi Enterprise Provita Breeders Ltd Mahmud Denims Ltd. Provita Seeds Limited Provita Fish Feed Ltd Mahmud Washing Ltd Mahmud Spinning Ltd Mahmud Ship Yard Ltd Provita Chicks Limited Provita Oxygen Limited Noor E Madina Overseas
Pacific Oil Company Ltd Mahmud Denims Limited M/s. Rupali Trading Agency Provita Hat Cheries Limited Provita Milk & Meat Process Ltd |
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BANKING
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Bank Name |
: |
Islami
Bank Bangladesh Ltd. |
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Bank Address |
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Uttara Branch. Kushal Centre, Uttara Model
Town, Uttara, Dhaka-1230, Bangladesh Tel: 88-02-8920500, 8918055,
8923976, 01711-693936 |
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ADVERSE
DATA MONITORING
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Dishonored Checks |
: |
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear
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Performance Defaults |
: |
No Record Found |
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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 House# 270 (1st & 2nd
Floor), Lane# 3, New DOHS Baridhara, Dhaka-1206, Bangladesh. It is Situated
at Residential Area. |
GENERAL
COMMENTS
|
The subject company is a well-known reputed company in
Bangladesh. It is reputed company in
this line of business. We recommended that Credit can proceed normally in
Moderate amount. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.96 |
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|
1 |
INR 91.88 |
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Euro |
1 |
INR 80.26 |
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BDT |
1 |
INR 0.80 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
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.