MIRA
INFORM REPORT
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Report Date : |
04.08.2007 |
IDENTIFICATION DETAILS
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Name : |
RAK Ceramic |
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Registered Office : |
House No. 26/A, Road No. 18, Banani, |
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Country : |
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Date of Incorporation : |
26th November, 1998 |
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Com. Reg. No.: |
C-36813 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing, selling & exporting of Ceramics tiles
Porcelain & Sanitary wears. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Report on
RAK Ceramic
Address
House
No.26/A,
Road No.18,
Banani,
Telephone : 880-2-8916548,8911642
Fax : 880-2-89017096
E-mail : rakceram@bol-online.com
SUMMARY
Established :
November, 1998
Commercial
Production From :
November, 2000
Incorporation
No. :
C-36813
Incorporation
dated :
26th November, 1998
Managing
Director & CEO :
H. H. Sheikh Saud Bin Sagr Al Qasimi,
Employees
531
Executives- 6
Junior Executives- 8
Engineers- 2
Junior Engineers- 9
Chemists- 5
Sales
Staffs- 32
Quality
Control- 11
Supervisory
Staffs- 26
Support
Staffs- 7
General
Staffs- 18
Technicians- 9
Workers- 398
BANK
Standard Chartered Bank
Dilkusha
Commercial Area,
HSBC, Bank
Motijheel
Commercial Area,
FACTORY
Village :
Dhanua,
Post Office
: Sreepur,
District :
Gazipur,
BRANCH
UAE
SHAREHOLDERS &
DIRECTORS
Mr. H.H.Sheikh Saud Bin Sagr Al Qasimi - Chairman & Managing Director
(Representing
RAK Ceramic PLC., Ras Al Khaimah, UAE)
Mr. S. A. K.
Ekramuzzaman
HISTORY
The company was established by RAK Ceramics PLC of Ras Al Khaimah, UAE as their subsidiary company for producing Ceramic tiles and sanitary wears.
BUSINESS
The subject is engaged in manufacturing, selling &
exporting of Ceramics tiles Porcelain & Sanitary wears.
Wal Tiles
Floor Tiles
Boarder
Tiles
Homogenous
Tiles
Polished/Unpolished
Tiles
Decor Tiles
Porcelains
All types of
Sanitary wears.
TERM OF PAYMENT
Cash
Credit
SUBSIDIARY OF
Ras Al
Khaimah Ceramics Co PLC.,
Ras Al
Khaimah,
UAE.
EXPORTS TO
UAE
NAME OF GROUP
NIL
NAME OF SISTER
CONCERN
NIL
MEMBER
Bangladesh
Ceramics & Sanitary wears Manufacturers Association,
Foreign
Chamber of Commerce & Industries,
LEGAL FORM
The subject
is a private limited company incorporated with the Registrar of Joint Stock
Companies,
FINANCIAL INFORMATION
2006 2005 2004
Capital
Invested Tk.550 million Tk.550 million Tk.550 million
Turnover Tk.999 million Tk.998.5
million Tk.998 million
Liability Tk.127.3 million Tk.128 million Tk.130.4 million
Fixed Assets Tk.1.3 billion Tk.1.3
billion Tk.1.2 billion
CAPITAL STRUCTURE
Authorized
Capital : Tk.1 billion
Paid up
Capital : Tk.1 million
Each Share
value : Tk.100.00 each
EXCHANGE RATE
GB
Pound 1.00=Tk.129.1870
US
Dollar 1.00=Tk. 68.6654
Japanese
Yen 1.00=Tk. 0.5831
Australian
Dollar 1.00=Tk.
52.3228
COMMENTS
The subject is a private limited company engaged in
manufacturing, selling and exporting of ceramics items and sanitary wears. The
company has been established by U.A.E based RAK Ceramics to take the advantage
of cheap local labour. The factory is fitted with the latest machinery imported
from European countries. The quality of their products is of international
standard and their products have got ready market inside and outside the
country.
The directors are experienced and know their job very well.
They are financially solvent and good at their business commitments, it is
reported.
The company is good for normal business engagements.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)