About Us
Business Profile
Name of the Company : Nihao Group of Companies
(Nihao Food Company Ltd and Golden
Sea Foods)
Information Memorandum
A. Executive Summary:
Background
Nihao Food Company Ltd (herein after called NFCL) and Golden Sea Foods (GSF) is an infrastructural strategic business with a vision to provide the country a sustainable nutrition calories food with skill and financial strength to make a mark in the world as a successful nation. Bangladesh deep sea belt is a completely natural resource and to make a proper distribution of sea fishes among 170 Million people is also our vision.
Catching of God gifted sea fishes is not unique round the year. Normal pick season is August to May. Some sea fishes are cynical in local market but demandable in abroad and some are vise-versa. Utility is also depends upon seasons. NFCL & GSF having exposures in storing frozen fishes in pick season and processing the whole products in exportable manner, maintaining 100% quality for security concern.
Though NFCL is corporate on May 18'2009 and went into commercial production on 16.10.2016, in fact, Managing Director Mr. Shumendhu Bose (47+) was engaged with his family lubricant oil business (renowned at Chittagong city) since 1987, and flabbergasted/amazed that he started his new (complete separate business) own proprietorship sea fish business since 1997 named Golden Sea Foods(GSF) as a non packer/trader. For marketing purpose Mr. Bose visited different 24 countries to boost up his business several times and last three years his business turnover exceeded BD Taka one billion.
The Plant:
The Running Plant is an International Standard Frozen Sea Fish Procuring, Processing, Buying, Selling and cold storage centre. Situated at declared Industrial Area and one third kilo miter (km) distance of the biggest fish landing centre of Bangladesh, 2.14 km air distance of GPO and Mercantile Bank Ltd corp. branch, 6.14 km of Chittagong International Air Port, boundary attached of Bangladesh Fishing Development Corporation(BFDC) Chittagong Head Office, International standard Swimming pool, Chief of Coast Guard , Coast Guard Head Quarter and Coast Guard Hospital, near of Bangladesh Navy, Marine Fishing Academy etc.
Opportunities
a. Proximity to suppliers,
b. Owned business premise.
c. Adequate safe zone.
d. Tax concession and benefits.
e. Well transport communication with Capital City.
f. 5 %( other fish) -10 %( shrimp) cash incentive on export performances.
g. Foreign investor can take back their margin after tax formalities.
h. Reprocess value added imported frozen fish exporter allowed to get back duty on coefficient calculation basis.
B. Qualitative Information:
Bangladesh domestic fish market (170 Million people) is very big market (4 Million MT as per government calculation) and sea fish is one forth of total demand whereas importing & supply chain supporting only 3% of sea fish. Our processing plant and storage infrastructure facilities playing a potential rule to domain the domestic market as well as international market is also feasible for positive marketing.
Brief of Company:
1. Location: Plot-17,BFDC,Issanagar,Charpatharghata,Karnafully,Chittagong,Bangladesh.
2. Company Name : Nihao Food Company Ltd (2009) & Golden Sea Foods (1997)
3. Date of incorporation : 18th May, 2009 for NFCL and 1997 for GSF
4. Commercial Operation : 16th Oct'2016 for NFCL and 1997 for GSF.
5. Relationship with NFCL and GSF : Common shareholders/Directors and Proprietor.
6. Current capacity and Utilization : 24.4 M.tons / day and utilize 6.10 MT.
7. Strong Customers base :i. India, Pakistan, Sri Lanka, Vietnam, South Korea, Australia, UAE, China, Yemen, France, etc.(Importer and Exporter)
ii. Local Buyer and Seller (Chittagong and Dhaka).
C. Management Aspect
Management and Organization:
Qualified energetic and devoted Management personnel have been adapted for looking after the day to day activities. Planned works is being allocated to the Management personnel slowly removing the policy of "hard work" traditional concept. Scientific and human Management concept in collaboration with information technology will be under process to fulfill the need of the 21st century. The Management will slowly take adequate steps to meet the management demand of the century to come. The concept of management by supervision will be replaced by the concept of "Management by the Participation"
Background and Experience of the Sponsoring Directors
(Photo of their Social Responsibilities Activities attached)
i. KONA RANI BOSE: Chairman and Director
ii. SHUMENDHU BOSE: CEO & Managing Director and Director
Short Bio Data of the Directors:
i. Mrs. Kona Rani Bose
Chairman and Director of the company, Mrs. Kona Rani Bose also well experience business magnet and Mrs. Bose grew up in the port city of the country "Chittagong", where she inspired to build the Industry with Mr. Bose. She has 15 years of experience in the different business field and she is also a valued member of Chittagong Woman Chamber of Commerce and Industries.
ii. Mr. Shumendhu Bose:
Managing Director of the company , Mr. Shumendhu Bose is a well experienced businessman who has long business acumen in trade , commerce and Industry. Mr. Bose is a renowned businessman grew up in the port city of the country "Chittagong", where he builds an Industry. He had a vision of providing the finest quality frozen fish products to different companies around the world & inside the country and contributing to the country's economy by boosting the export in the sector. He has dedicated his utmost effort in establishment of frozen fish industry so as to facilitate the process and to have a brand image in internationally for sustainable frozen fish food system for global & domestic food security and nutrition. He completed his graduation in commerce and finally became an industrialist with the 29 years of experience in the different business field. Mr. Bose domain at this business in Bangladesh, he is the founder Vice president of Bangladesh non-packer Frozen Fish Exporter Association, member of Bangladesh Frozen Fish Exporter Association (BFFA), General Secretary of Bangladesh Fish Importer Association , member of Sylhet Club Ltd and ex- Member of Governing body of The Federation of Bangladesh Chambers of Commerce and Industry(FBCCI) and VVIP member of ISKCON.
Ownership and control:
Ownership of the company is concentrated to the family members of Mr. Bose. However the investing institutions are also family members of Mr. Bose. That major ownership and control is vested on Mr. Bose's family. Among the individual shareholders Mr. Shumendhu Bose holds the share (60%) and Mrs. Bose (40%). The Board held 3 meetings during financial year 2016-17 and mainly dealt with policy, issues, reviewed business performance etc. The details of the shareholdings, Director's age and experience are stated below:
|
Name |
Designation |
Relationship with company |
Academic Qualification |
Experience |
Nos of Share |
Share % |
|
Kona Rani Bose |
Chairman |
Spouse |
Graduate |
15 years |
4000 |
40% |
|
Shumendhu Bose |
Managing Director and CEO |
Self |
Graduate |
29 years |
6000 |
60% |
Corporate Management
Company is operated under the common management .The corporate management team of the company is headed by the Managing Director and CEO, Mr. Shumendhu Bose who has a long history of managing business since 1988.In the management team he is aided by a director operation, a General Manager, a Factory Manager and other high official having good experience. The total operations are divided into four departments namely Production, Marketing, Accounts and Finance, Admin and HR, Commercial and IT. All the head of department are having long experience in managing the department and directly reported to him. The Organizational structure of NFCL Group is divided into four functional divisions namely 1).Marketing and Commercial, 2) Accounts & Finance, 3).Operational and 4) HR and Admin. The top management of the company is formed as follows:
|
Name |
Designation |
Academic Qualification |
With Nihao & Golden Sea Foods |
Total |
|
Kona Rani Bose |
Chairman |
Graduate |
9th year |
15 years |
|
Mr. Shumendhu Bose |
Managing Director and CEO |
Graduate |
20th year |
29 years |
|
Mr. Bimal Datta |
Director Operation |
Post Graduate |
14th year |
18 years |
|
Atindra Mohan Das |
General Manager |
Post Graduate |
Ist year |
33 years |
|
Mr.Md. Tajul Islam |
Factory Manager |
Marine Graduate |
2nd year |
25 years |
QC Department:
Preproduction inspection, audit finishing and final random inspection, basically the inspection conducted base on international standard AQL, Attention to each and every detail at every stage of production prove trade mark of Nihao Group. Our Policy is "No compromise in regards of quality.
Utility Section:
a. Power Supply assurance
i. 250 KVA ARPFI and HTLBS, and 500 KVA, 11/0.415 KV sub-station
ii. 24 hours stand by generator.
b. Air compressor: Assist to control the total atmosphere.
c. Water: Required water for the plant is available from Deep Tube-well.
d. Pollution and waste water:
The plant has own ETP plant. All chemicals and waste water recycle by chemical. So it is 100% safe from any pollution .
Name of commodities : Varieties Sea Fish (Details attached)
E. Financial Aspects
Last three years performances & Existing Financial highlights
|
Capacity of Cold Storage |
1,700 |
Metric ton/day |
|
Capacity of the Plant |
24,400 |
Kg/day |
|
Utilizing of the plant, Used 25% |
6,100 |
Kg/day |
|
Yearly Work Days |
240 |
Days |
|
Price of commodity |
$ 2.00 |
Kg |
Plot-17, BFDC, Issanagar, Charpatharghata, Karnafully, Chittagong, Bangladesh.