MIRA
INFORM REPORT
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Report Date : |
23rd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
APPOLLO
ISPAT COMPLEX LIMITED |
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Registered Office : |
Rangs
Bhaban (7th Floor), 113-116,Old Airport Road, Tejgoan, Dhaka-1215,
Bangladesh. |
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Country : |
Bangladesh |
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Date of Incorporation : |
25.09.1993 |
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Com. Reg. No.: |
C-24685 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Engaged
in manufacturing and selling of Corrugation Iron Sheets. |
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 : |
Usually
Correct |
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Litigation : |
Clear |
Company Name
APPOLLO
ISPAT COMPLEX LIMITED
Address
Rangs Bhaban
(7th Floor),
113-116,Old Airport Road,
Tejgoan,
Dhaka-1215,
Bangladesh.
Telephones :
880-2-9137533-5
Fax :
880-2-8118997
E-mail :
rani@accesstel.net
SUMMARY
Established :
1993
Incorporation
No. :
C-24685
Incorporation
dated :
25th September, 1993
Status :
Satisfactory
Managing
Director & CEO :
Mr.Mohammad Answer Ali
Payment :
Regular
Litigation :
Nil
Capital
Invested :
Tk.750 million
Sales :
Tk. 2.38 billion
Employees : 195
Executives- 4
Junior Executives-
5
Junior Engineer-
4
Chemist- 2
Quality Control-
10
Supervisory Staffs-
11
Support Staffs-
5
General Staff- 8
Technicians-
6
Workers-
140
BANK
Southeast Bank Limited
Dhanmondi Branch,
Dhaka,
Bank Asia Ltd
Rangs Bhaban,
Tejgoan,
Dhaka,
FACTORY
Shimrail,
Shiddirganj,
District : Narayanganj,
BRANCH
NIL
OFFICE AREA
1,700 sq.ft (rented)
FACTORY AREA
23,800 sq.ft (rented)
WAREHOUSE
3,800 sq.ft (rented)
SHAREHOLDER & DIRECTORS
Mr.Deen Mohammad
-Chairman
Mr.Mohammad Answer Ali
-Managing Director
Mr.Abdul Mazid
HISTORY
The subject was established in September,1993 Dhaka city by
Mr.Mohammad Answer Ali and other directors having its factory at Shimrail,
Siddirganj District : Narayanganj.
BUSINESS
The company is engaged in manufacturing and selling of
Corrugation Iron Sheets.
RANGE OF PRODUCTS
Corrugated Iron Sheets
Length :
(1) 6 Feet
(2) 8 Feet
(3) 9 Feet
(4) 10 Feet
Thickness:
(1) 22 mm
(2) 24 mm
(3) 26 mm
(4) 32 mm
NAME OF BRANDS
Rani
PRODUCTION POSITION
Yearly Production Capacity -----50,000
m/tons
Last year Production -------------35,000
m/tons
RAW MATERIALS IMPORT FROM
Korea
Japan
China
EEC Countries
TERMS OF SALES
Cash
Credit
NAME OF GROUP
Appollo Group
SISTER CONCERN
Appollo Stikash Company
Appollow Holdings Ltd,
Appollo Pharmaceutical Ltd,
MEMBER
Dhaka Chamber of Commerce & Industries, Dhaka
LEGAL FORM
The subject
is a private limited Company incorporated with the Registrar of Joint Stock
Companies, Dhaka
FINANCIAL INFORMATION
2005 2004 2003
Capital
Invested Tk.750 million Tk.
750 million Tk.750 million
Turnover
Tk.2.38 billion Tk.2.38 billion Tk.2.37 billion
Liability Tk.980 million Tk.979.8 million Tk.979.3 million
Fixed Assets Tk.4 billion Tk.4 billion Tk.3.9
billion
CAPITAL STRUCTURE
Authorized Capital :Tk.500
million
Paid up Capital :
Tk.120,000.00
Each share value :
Tk.100.00 each
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
Subject is a private limited company engaged in
manufacturing and selling of various types of Corrugated Iron Sheets. They are
well reputed in the local market.
Directors are experienced well acquainted in their line of
trade. They are financially solvent and good at their business commitments, as
reported.
The company can be considered normal for business dealings
at usual trade terms and conditions.
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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