MIRA INFORM REPORT

Report Date :

07.08.2007

IDENTIFICATION DETAILS

Name :	RANGS INDUSTRIES LIMITED
Registered Office :	Rangs Bhaban, 113-116, Old Airport Road, Dhaka-1215,
Country :	Bangladesh
Financials (as on) :	2006
Date of Incorporation :	April,1985
Legal Form :	Private Limited Company
Line of Business :	Manufacturing and assembling of electronic goods

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear

COMPANY NAME

Rangs Industries Limited

Address

Rangs Bhaban

113-116, Old Airport Road,

Dhaka-1215,

Bangladesh

Telephones : 880-2-9663551-3, 9131677-8,9145427,

Fax : 880-2-8117788, 9139954

E-mail : info@rangs.com

SUMMARY

Established : April,1985

Incorporation No. : C-14031

Incorporation Dated : 11^th April,1985

Status : Satisfactory

Managing Director & CEO : Mr.Abdur Rouf Chowdhury

Payment : Regular

Litigation : Nil

Capital Invested : Tk.575 million

Sales : Tk.2 billion

Employees : 225 Executives- 3

Junior Executives- 5 Engineers- 10

Junior Engineer- 8

Supervisory Staffs- 10

General Staffs- 15

Technicians- 20

Workers- 154

BANK

Bank Asia Ltd,

Rangs Bhaban

Dhaka.

BRANCH

Chittagong

Rajshahi

Sylhet

Comilla

Moulvi Bazar

Rangpur

Bogra

Khulna

FACTORY

Tejgoan Industrial Area,

Dhaka

OFFICE AREA

2,600 sq.ft.(own)

FACTORY AREA

28,000 sq.ft (own)

WAREHOUSE AREA

6,100 sq.ft (own)

DIRECTORS & SHAREHOLDERS

Mr.Abdur Rouf Chowdhury - Chairman

Mr.Rume Hossain - Managing Director

Mr.Rumo Rouf Chowdhury

Ms.Zakia Rouf Chowdhury

Ms.Sultana Rouf Chowdhury

HISTORY

The subject was established in April,1985 by Mr.Abdur Rouf Chowdhury and other directors in Dhaka city.

BUSINESS

The company is engaged in manufacturing and assembling of electronic goods.

RANGE OF PRODUCTS

TV

VCD

VCR

Camera

CD Sets

Generators

IMPORT FROM

China

Thailand

Singapore

TERMS OF SALES

Cash

Credit

NAME OF GROUP

Rangs Group

GROUP COMPANIES

Rangs Telecom Ltd, Dhaka

Rangs IT Ltd, Dhaka

Rangs Properties Ltd, Dhaka

Rangs Electronics Ltd, Dhaka

Bank Asia Ltd, Dhaka

Rangs Security Services Ltd, Dhaka

Sea Resources Limited, Chittagong

Rangs Motors Limited, Dhaka

MEMBER

Dhaka Chamber of Commerce & Industries, Dhaka.

LEGAL FORM

The subject is a private limited company incorporated with the Registrar of Joint Stock of Companies Dhaka.

FINANCIAL INFORMATION

2006 2005 2004

Capital Invested Tk.575 million Tk.575 million Tk.575 million

Turnover Tk.2 billion Tk.1.9 billion Tk.1.9 billion

Liability Tk.21 million Tk.21.8 million Tk.22 million

Fixed Assets Tk.550 million Tk.550 million Tk.549 million

Collected un-officially as the subject has refused to reveal any financial information and as such could not re-check the authenticity.

CAPITAL STRUCTURE

Authorized Capital Tk.100 million

Paid up Capital Tk.300, 000.00

Each share value Tk.100.00

EXCHANGE RATE

GB Pound 1.00=Tk.129.1870

US Dollar 1.00=Tk. 68.6654

Europe Euro 1.00=Tk. 87.0154

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 and assembling of electronics and related goods. The company is well known in the local market and is a concern of Rangs Group, one of the giant business house of the country.

The directors are experienced businessman of good reputation who knows their job pretty well. They are also engaged in various other profitable business. They are financially solvent and good at their business commitment.

The company is good for normal business engagements.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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%)

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