Agenda of 361st Meeting of Executive Committee of the Board of Directors of Bank Asia

held on Monday, the 24th August 2020 at 12.30 PM at the Bank’s Board Room at
Rangs Bhaban (1st floor), 117/A, Old Airport Road, Tejgaon,
Dhaka – 1215.

01. Matters arising from the 350th, 352nd, 354th, and 358th Meetings of Executive Committee.
(Memo No: 5814/EC/2020 dated 20.08.2020, Page No. A)

02. Proposal for approval of:

i) Renewal of Revolving Bank Guarantee (Bid Bond, Performance Guarantee, Advance
Payment Guarantee) limit of Tk.100.00 million,
ii) Renewal of Revolving Demand Loan (Work Order) limit of Tk.50.00 million,
iii) Continuation of permission to issue Credit Commitment Letter to different work
awarding authorities up to the amount of Tk.150.00 million, and
iv) Modification of sanction clause of our previous Corporate Office sanction advice as
stated in the memo.
Account: Md. Badrul Iqbal Limited,
Branch: Gulshan-2 Branch, Dhaka.
(Memo No: 5815/EC/2020 dated 20.08.2020, Page No. 1-29)

03. Proposal for approval of:

A) Renewal of Overdraft limit of Tk.40.00 million,
B) Renewal with enhancement of revolving Bank Guarantee (Performance Guarantee/
Retention Money Guarantee/Payment Guarantee) limit from Tk.10.00 million to
Tk.25.00 million by way of absorbing 02 nos. of specific payment guarantees totaling
to Tk.10.00 million with a condition that outstanding amount of payment guarantee
shall not exceed Tk.10.00 million under revolving Bank Guarantee limit of Tk.25.00
million at any point of time,
C) Renewal of revolving Demand Loan (Work Order) limit of Tk.20.00 million,
D) Renewal of revolving SOD (Earnest Money) limit of Tk.10.00 million,
E) Permission for allowing utilization of revolving BG (PG/RMG) limit, DL (WO) limit and
SOD (EM) limit for execution of work orders by any Joint Venture formed by M/s. Abu
Baker Siddique where M/s. Abu Baker Siddique is the management partner and/or
lead partner, will have the authority to operate bank accounts on behalf of the JV and
shall have control over management of the JV, &
F) Annexation of additional 28.00 decimal residential land with existing Registered
Mortgage of 112.00 decimal residential land by way of fresh Registered Mortgage
located at Mouza – Raghunandanpur, JL No-128, Dag No- RS/SA-870, BS-2105,
Khatian No: SA- 812, RS- 856, BS-1654/2, Proposed-2184, P.S: Kotwali, Dist- Faridpur
in the name of Mrs. Rebeka Sultana Bilkis (wife of the proprietor). Total 140.00
decimal land has market and distress value of Tk.25.20 million and Tk.20.16 million
respectively as per valuation done by Eastland Surveyors dated 15.07.2020. [Note:
Previously, 112.00 decimal land had market and distress value of Tk.20.16 million and
Tk.16.12 million respectively as per valuation done by Eastland Surveyors dated
07.07.2019].

361st EC held on 24th August, 2020 Page 1 of 8

 Account: M/s. Abu Baker Siddique,
Branch: Faridpur Branch, Faridpur.
(Memo No: 5816/EC/2020 dated 20.08.2020, Page No. 30-60)

04. Proposal for approval of:

i) Renewal with enhancement of Overdraft Limit from Tk.45.00 million to Tk.50.00
million,
ii) Fresh Revolving Demand Loan limit of Tk.5.00 million.
Account: M/s. Mondal & Sons;
iii) Renewal of Overdraft Limit of Tk.20.00 million,
iv) Fresh OD (SP-CMSME) of Tk.5.00 million under Bangladesh Bank SMESPD circular#01,
dated 13.04.2020 to provide working capital support for operation of the business
affected by COVID-19 pandemic.
Account: M/s. Alpha Impex.
Accounts: M/s. Mondal & Sons and M/s. Alpha Impex;
Branch: Mohadevpur Branch, Naogaon.
(Memo No: 5817/EC/2020 dated 20.08.2020, Page No. 61-89)
05. Proposal for approval of renewal of existing facilities in the form of:
i) Revolving LC limit of Tk.250.00 million,
ii) Revolving LTR (sublimit of LC) limit of Tk.150.00 million,
iii) SOD limit of Tk.4.95 million.
Account: M/s. B. R. Trading;
Branch: Khatunganj Branch, Chattogram.
(Memo No: 5818/EC/2020 dated 20.08.2020, Page No. 90-107)
06. Proposal for:
a) renewal of Overdraft limit of Tk.5.00 million and
b) fresh Demand Loan (revolving) limit (under Financial Stimulus Package) of Tk.1.50
million [as per Bangladesh Bank’s BRPD Circular No. 08 dated 12.04.2020],
Account: Freight Care Aviation Services Ltd.,
c) renewal of Bank Guarantee (revolving) limit of Tk.40.00 million and
d) renewal of Overdraft limit of Tk.100.00 million,
Account: SG Logistics (Pvt.) Ltd.,
e) renewal of Bank Guarantee (revolving) limit of Tk.40.00 million,
f) renewal of Overdraft limit of Tk.25.00 million and
g) fresh Demand Loan (revolving) limit (under Financial Stimulus Package) of Tk.7.50
million [as per Bangladesh Bank’s BRPD Circular No. 08 dated 12.04.2020],
Account: Expo Freight Ltd.,
h) renewal of Bank Guarantee (revolving) limit of Tk.274.60 million,
i) renewal of Overdraft limit of Tk.5.00 million and
j) fresh Demand Loan (revolving) limit (under Financial Stimulus Package) of Tk.1.50
million [as per Bangladesh Bank’s BRPD Circular No. 08 dated 12.04.2020],
Account: Global Aviation Services Ltd.,

361st EC held on 24th August, 2020 Page 2 of 8

 k) renewal of Bank Guarantee (revolving) limit of Tk.40.00 million,
l) renewal of Overdraft limit of Tk.10.00 million and
m) fresh Demand Loan (revolving) limit (under Financial Stimulus Package) of Tk.3.00
million [as per Bangladesh Bank’s BRPD Circular No. 08 dated 12.04.2020],
Account: Wings Classic Tours & Travels Ltd.,
n) renewal of Bank Guarantee (revolving) limit of Tk.20.00 million,
Account: Wings Express Ltd.,
o) renewal of Bank Guarantee (revolving) limit of Tk.550.00 million,
p) renewal of Overdraft limit of Tk.20.00 million and
q) fresh Demand Loan (revolving) limit (under Financial Stimulus Package) of Tk.6.00
million [as per Bangladesh Bank’s BRPD Circular No. 08 dated 12.04.2020],
Account: Wings Spence Aviation Ltd.,
r) renewal of Bank Guarantee (revolving) limit of Tk.160.00 million,
Account: Expo Express Services Ltd.,
s) renewal of Bank Guarantee (revolving) limit of Tk.50.00 million,
t) renewal of Overdraft limit of Tk.20.00 million and
u) fresh Demand Loan (revolving) limit (under Financial Stimulus Package) of Tk.6.00
million [as per Bangladesh Bank’s BRPD Circular No. 08 dated 12.04.2020],
Account: APS Logistics International Ltd.,
v) renewal of Bank Guarantee (revolving) limit of Tk.30.00 million,
w) renewal of Overdraft limit of Tk.20.00 million and
x) fresh Demand Loan (revolving) limit (under Financial Stimulus Package) of Tk.6.00
million [as per Bangladesh Bank’s BRPD Circular No. 08 dated 12.04.2020],
Account: BIL Logistics International Ltd. and
y) continuation of allowing interchangeable arrangement for aggregate Bank Guarantee
limit of Tk.1,204.60 million on account of Freight Care Aviation Services Ltd., SG
Logistics (Pvt.) Ltd., Expo Freight Ltd., Global Aviation Services Ltd., Wings Classic
Tours & Travels Ltd., Wings Express Ltd., Wings Spence Aviation Ltd., Expo Express
Services Ltd., APS Logistics International Ltd. and BIL Logistics International Ltd.
subject to clearance from Corporate Office.
Accounts: Freight Care Aviation Services Ltd., SG Logistics (Pvt.) Ltd., Expo Freight Ltd.,
Global Aviation Services Ltd., Wings Classic Tours & Travels Ltd., Wings Express Ltd., Wings
Spence Aviation Ltd., Expo Express Services Ltd., APS Logistics International Ltd. and BIL
Logistics International Ltd.
Branch: Mohakhali Branch, Dhaka.
(Memo No: 5819/EC/2020 dated 20.08.2020, Page No. 108-160)
07. Proposal for approval of:
i) Revolving LC (Sight/DP/UPAS) limit of Tk.400.00 million,
ii) Revolving LTR (Sublimit of Revolving LC) Limit of Tk.200.00 million,
iii) Overdraft limit of Tk.600.00 million,
iv) Revolving Bank Guarantee limit (Sublimit of LC) of Tk.100.00 million,
v) Short Term Loan (STL) onetime facility of Tk.500.00 million &
vi) Allowing 03 (Three) months time deferral from the date of disbursement for
completion of Pari Passu Sharing Charge with other lenders on floating assets with
RJSC.

361st EC held on 24th August, 2020 Page 3 of 8

 Account: Nasir Glass Industries Limited,
Branch: Gulshan-2 Branch, Dhaka.
(Memo No: 5820/EC/2020 dated 20.08.2020, Page No. 161-190)
08. Proposal for approval of:
A)
i) renewal of OD limit of Tk.70.00 million,
ii) renewal with enhancement of rev. LC limit (Sight/DP/UPAS) limit from Tk.300.00
million to Tk.500.00 million;
iii) renewal with enhancement of rev. LTR limit (sub-limit of LC) from Tk.200.00 million to
Tk.250.00 million;
iv) renewal of rev. Term Loan limit of Tk.150.00 million
v) renewal of rev. Demand Loan limit of Tk.80.00 million;
vi) renewal of rev. Bank Guarantee limit of Tk.100.00 million.
Account: UniMed UniHealth Pharmaceuticals Ltd..;
B)
i) renewal of rev. LC (Sight) limit of Tk.140.00 million (sub limit of LC limit of UniMed
UniHealth Pharmaceuticals Ltd.);
ii) renewal of rev. LTR (sub limit of LC) of Tk.125.00 million (sub-limit of LTR limit of
UniMed UniHealth Pharmaceuticals Ltd.);
iii) renewal of separate Term Loan limit of Tk.100.00 million (sub limit of TL limit of
UniMed UniHealth Pharmaceuticals Ltd.);
iv) renewal of rev. Demand Loan limit of Tk.55.00 million (sub limit of DL limit of UniMed
UniHealth Pharmaceuticals Ltd.);
v) renewal of BG limit of Tk.100.00 million (sub-limit of BG limit of UniMed UniHealth
Pharmaceuticals Ltd.);
Account: UniHealth Ltd.;
C)
i) renewal of rev. LC limit (Sight LC) of Tk.140.00 million (sub limit of LC limit of UniMed
UniHealth Pharmaceuticals Ltd..);
ii) renewal of rev. LTR (sub limit of LC) of Tk. 125.00 million (sub-limit of LTR limit of
UniMed UniHealth Pharmaceuticals Ltd.);
iii) renewal of separate Term Loan limit of Tk.100.00 million (sub limit of TL limit of
UniMed UniHealth Pharmaceuticals Ltd.);
iv) renewal of rev. Demand Loan limit of Tk.40.00 million (sub limit of DL limit of UniMed
UniHealth Pharmaceuticals Ltd.);
v) renewal of rev. BG limit of Tk. 100.00 million (sub limit of BG limit of UniMed
UniHealth Pharmaceuticals Ltd.);
Account: UniMed Ltd.;
D)
i) renewal of rev. LC limit (Sight/DP/UPAS) of Tk. 10.00 million (sub limit of LC limit of
UniMed UniHealth Pharmaceuticals Ltd.);
ii) renewal of rev. LTR limit of Tk.9.00 million (sub-limit of own LC limit and also sub limit
of LTR limit of UniMed UniHealth Pharmaceuticals Ltd.);
iii) renewal of rev. Demand Loan limit of Tk.2.00 million (sub limit of DL limit of UniMed
UniHealth Pharmaceuticals Ltd.);
Account: Uniderma Ltd.;

361st EC held on 24th August, 2020 Page 4 of 8

 E) Sanction of fresh Demand Loan (One Time) limit of Tk.105.00 million for 01 year under
Financial Stimulus Package to meet up working capital to deal with the business
downturn caused by COVID-19 Pandemic as per BRPD Circular No. 08 dated April 12,
2020.
F) Allowing utilization of LC, LTR, TL and DL limit of UniMed UniHealth Pharmaceuticals
Limited interchangeably by UniHealth Limited, UniMed Limited & Uniderma Limited.
Accounts: UniMed UniHealth Pharmaceuticals Limited, UniHealth Limited, UniMed Limited &
Uniderma Ltd.;
Branch: Lalmatia Branch, Dhaka.
(Memo No: 5821/EC/2020 dated 20.08.2020, Page No. 191-240)

09. Proposal for approval of fresh Demand Loan (Stimulus Package) facility of Tk.10.00 million for
one year to meet working capital requirement of business to deal with economic downturn
due to the outbreak of COVID-19 subject to approval from Bangladesh Bank.
Account: Active Zipper Limited
Branch: Mirpur Branch, Dhaka.
(Memo No: 5822/EC/2020 dated 20.08.2020, Page No. 241-257)

10. Proposal for approval of:

i) Renewal of Revolving LC (Sight/DP/UPAS/EDF) of Tk.500.00 million with commission
@0.125% for 1st quarter, 0.10% for subsequent quarter for both opening and
Acceptance to import/procure raw materials, accessories & spare parts from overseas/
local market
ii) Renewal of revolving LTR limit of Tk.100.00 million with rate of interest @9.00% p.a.
for retirement of documents of sight LCs opened under facility- (i) above for import of
raw materials and accessories
iii) Renewal of Revolving Overdraft limit of Tk.50.00 million with rate of interest @9.00%
p.a. to meet up working capital requirement of the company.
iv) Renewal of revolving LDBP/Bill Discounting through OBU limit of Tk.200.00 million
with rate of interest @9.00% p.a. for LDBP and as per clearance of ID for Bill
Discounting to purchase/negotiate Inland Documentary Bills dully accepted by
Scheduled Banks.
Account: SM Spinning Mills Ltd.,
Branch: Uttara Branch, Dhaka.
(Memo No: 5823/EC/2020 dated 20.08.2020, Page No. 258-282)
11. Proposal for approval of:
i) Renewal of revolving LC (Sight/DP/EDF/UPAS) limit of Tk.400.00 million at current
level with commission @0.15% per quarter at LC opening and acceptance to import
raw cotton, viscose, packaging materials, accessories, spare parts & other raw
materials for factory use,
ii) Renewal of Overdraft limit of Tk.50.00 million at current level with interest rate
@9.00% p.a. for meeting working capital requirement of the project i.e. for local
procurement & to meet up operational expenses of the company.

361st EC held on 24th August, 2020 Page 5 of 8

 Account: Comilla Spinning Mills Ltd.,
Branch: Dhanmondi Branch, Dhaka.
(Memo No: 5824/EC/2020 dated 20.08.2020, Page No. 283-305)
12. Proposal for approval of:
A) Renewal of credit facilities of total Tk.1,530.00 million at current level in the form of:
i) Renewal of Revolving LC (Sight/DP/EDF) limit of Tk.700.00 million at current level
(Commission: Opening @0.25% for the 1st quarter & @0.20% for the subsequent
quarters & Acceptance @0.15% per quarter) to import/procure raw materials such as
yarn, chemical, accessories, spare parts & other raw materials from overseas/local
sources for factory use,
ii) Renewal of Overdraft limit of Tk.200.00 million at current level with interest rate
@9.00% p.a.to meet up factory overhead and other operating expenses,
iii) Renewal of LDFB-FCY/Discounting/Negotiating (on exchange rate basis) Limit of
Tk.600.00 million at current level @9.00% p.a. to purchase/negotiate clean sight
foreign documentary bills drawn under valid Export LCs and/or to purchase/ discount/
negotiate foreign documentary bills duly accepted by scheduled banks in Bangladesh
& authenticated SWIFT acceptance of foreign banks situated outside Bangladesh in
case of Deferred Export LC,
iv) Renewal of revolving Bank Guarantee limit of Tk.30.00 million at current level with nil
margin up to tenure of five years (margin:@100% for BG more than 05 years and for
open ended guarantee) and commission @0.25% per quarter for providing security
guarantee for custom clearance, supplying gas and other utility & others for factory
operation.
B) Rescheduling (3rd time) of existing term loan (account no.00235008052) outstanding
amount of Tk.32.66 million (which were created against Forced Demand Loan liability)
by conversion into a Term Loan of Tk.28.72 million (after netting off down payment for
Tk.4.90 million as 15.00% of outstanding amount of Tk.32.66 million and including
accrued interest up to September 30, 2020) for a period of 05 years from the date of
rescheduling subject to approval from Bangladesh Bank.
C) Rescheduling (3rd time) of existing term loan (account no.00235008053) outstanding
amount of Tk.87.95 million (which were created against Forced Demand Loan liability)
by conversion into a Term Loan of Tk.77.30 million (after netting off down payment for
Tk.13.19 million as 15.00% of outstanding amount of Tk.87.95 million and including
accrued interest up to September 30, 2020) for a period of 05 years from the date of
rescheduling subject to approval from Bangladesh Bank.
D) Rescheduling (2nd time) of existing term loan (account no.00235008054) outstanding
amount of Tk.238.38 million (which were created against Forced Demand Loan liability)
by conversion into a Term Loan of Tk.221.45 million (after netting off down payment for
Tk.23.83 million as 10.00% of outstanding amount of Tk.238.38 million and including
accrued interest up to September 30, 2020) for a period of 05 years from the date of
rescheduling subject to approval from Bangladesh Bank.
Account: Shasha Denims Ltd.,
Branch: Corporate Branch, Dhaka.
(Memo No: 5825/EC/2020 dated 20.08.2020, Page No. 306-340)

361st EC held on 24th August, 2020 Page 6 of 8

 13. Proposal for approval of:
i) Renewal at current level of revolving LC (Sight/Deferred/EDF) limit of Tk.150.00 million
with opening commission @0.35% per quarter and acceptance commission @0.35%
for first quarter & @0.30% for each sub-sequent quarter to import/procure raw
materials for export oriented packaging industry,
ii) Renewal at current level of LTR limit of Tk.100.00 million with interest @9.00% p.a. to
retire shipping documents against Sight LC only under facility-(i) above,
iii) Renewal at current level of Overdraft limit of Tk.15.00 million with interest @9.00%
p.a. for payment of wages, salaries, freight, and to meet up other overhead expenses
of the factory,
iv) Renewal at current level of LDBP limit of Tk.150.00 million with interest @9.00% p.a.
to purchase/negotiate LDBs against acceptances of scheduled Banks in Bangladesh,
v) Rescheduling (1st time) of 02 nos. overdue Forced Demand Loan and 25 nos. overdue
LTR liabilities for total Tk.92.45 million (after deposit of down payment of Tk.22.33
million (@20% of overdue Forced Demand Loan and LTR liability of total Tk.111.65
million) and including accrued interest up to 30.09.2020) by converting into Term Loan
(by earmarking the revolving LC limit for Tk.33.25 million and LTR limit forTk.59.20
million) for a period of 05 years from the date of rescheduling subject to obtaining
approval from Bangladesh Bank,
vi) Extension of validity of Term Loan and Lease Finance liability of total Tk.83.41 million
for additional 09 months from the date of existing expiry along with deferment of
installment up to September, 2020 as per BRPD Circular no.13 dated 15.06.2020 as
detailed above,
vii) Extension of validity of LTR liability of total Tk.13.34 million for additional 09 months or
up to 31.12.2020 (whichever comes earlier) from the date of existing expiry as per
BRPD Circular no.13 dated 15.06.2020 as detailed above,
viii) Waiver of Personal guarantee of the spouse of Mr. Muhammad Zakir Hossain, director
of the company.
Account: Sans Packaging & Accessories Industries Ltd.,
Branch: Uttara Branch, Dhaka.
(Memo No: 5826/EC/2020 dated 20.08.2020, Page No. 341-363)

14. Proposal for

A) approval of approval of rescheduling (1st time) of existing Forced Demand Loan
liability for Tk.271.00 million (after deposit of down payment for Tk.16.82 million as
6.00% of outstanding liability and including accrued interest up to 31.08.2020) by
conversion into Term Loan for a period of 05 years from the date of rescheduling
subject to obtaining NOC from Bangladesh Bank
B) Post facto approval for creation of Forced Demand Loan of Tk.54.75 million (Included
in the amount proposed for rescheduling) for settlement of overdue EDF Loan with
Bangladesh Bank.
Account: Thermax Yarn Dyeing Limited,
Branch: Principal Office Branch, Dhaka.

(Memo No: 5827/EC/2020 dated 20.08.2020, Page No. 364-386)

361st EC held on 24th August, 2020 Page 7 of 8

 15. Proposal for approval of:
a) Extension of deferral for further 01 (one) months i.e. up to 15.09.2020 for execution
of registered mortgage, IGPA and creation of charges with RJSC & Firms on the fixed
and floating assets of Friends Knittings Ltd. and
b) Extension of deferral for 02 further (two) months i.e. up to 15.10.2020 for execution
of Pari-Passu Security Sharing Agreement with other lenders on floating assets of
Orbitex Knitwear Ltd.
Accounts: Friends Knittings Limited & Orbitex Knitwear Limited, both are concerns of
Debonair Group.
Branch: Scotia Branch, Dhaka.
(Memo No: 5828/EC/2020 dated 20.08.2020, Page No. 387-404)

16. Miscellaneous

********************X******************

361st EC held on 24th August, 2020 Page 8 of 8