MIRA INFORM REPORT

 

 

Report Date :

13.01.2007

 

IDENTIFICATION DETAILS

 

Name :

Chevron Bangladesh

 

 

Registered Office :

Bays Galleria (4th Floor), 57,Gulshan Avenue, Gulshan-1, Dhaka-1212,

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

February,2001

 

 

Legal Form :

Subsidiary of a USA based corporation.

 

 

Line of Business :

Engaged in seismic survey, drilling and operation of Oil and Gas fields.

 

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 :

Usually correct

 

 

Litigation :

Clear

 

 

Report on       

 

Chevron Bangladesh

 

 

Address

 

Bays Galleria (4th Floor),

57,Gulshan Avenue,

Gulshan-1,

Dhaka-1212,

Bangladesh.

Telephones                    :880-2-9885881

Fax                               : 880-2-9884398

E-mail                           : nizamisu@chevron.com

                                                                         

 

SUMMARY

 

Established                                                                   : February,2001

Incorporation No.                                                            : N/A

Incorporation Dated                                                        : N/A

President Country Director                                              : Mr.Andrew L.Fawthrop

 

 

Employees

 

210

 

Executives-                     8

Sales Staffs-                  14

Engineers-                       7

Junior Engineers-           12

Chemist-                         5

Sales Staffs-                  18

Support Staffs-                6

Technicians-                    9

General Staffs-               21

Workers-                      110

 

                                                                                     

BANK

 

Bank Asia

Gulshan Branch,

Dhaka,

                                                           

HSBC

Gulshan Branch,

Dhaka

 

 

FACTORY

 

N/A

 

                                               

BRANCH 

           

Sylhet

Chittagong

Camilla

Barishal

Khulna

Moulvi Bazar

 

 

OFFICE AREA

 

1,700 sq. ft.(rented)

 

 

FACTORY AREA

 

N/A

 

 

WAREHOUSE AREA

 

2,500 sq. ft.(rented)

 

 

PRESIDENT & COUNTRY DIRECTOR

 

Mr. Andrew L.Fawthrop

                                                           

                                          

HISTORY

 

The company is a wholly owned subsidiary of Chevron Corporation of USA who has been given lease for searching of Oil and Gas in block No.13 and 14 of the country which covers the area of Sylhet and Camilla district. The company has already applied to ROC for incorporation in Bangladesh which are under process.

 

 

BUSINESS

 

The company is engaged in seismic survey, drilling and operation of Oil and Gas fields.

 

                                               

TERMS OF SALES    

 

Cash

Credit

                                   

 

TECHNICAL SUPPORT FROM

 

1 Chevron Corporation------USA

 

 

NAME OF GROUP

                                   

NIL

 

 

NAME SISTER CONCERN

 

NIL

 

                                               

MEMBER

 

1 Dhaka Chamber of Commerce & Industries, Dhaka.

 

 

LEGAL FORM

 

Subsidiary of a USA based corporation.

 

 

FINANCIAL INFORMATION    

 

                                    2005                 2004                             2003                

 

Capital Invested             Tk.2.2 billion       Tk.2 billion                    Tk.1.99 billion  

 

Turnover                        Tk.1.2 billion      Tk.1.1 billion                 Tk.1 billion

 

Liability                         NIL                               NIL                               NIL

                 

Fixed Assets                 Tk.355 million                Tk.350 million                Tk.349 million 

 

 

CAPITAL STRUCTURE

 

Authorized Capital: Not known as the subject is incorporated in USA

 

Paid up Capital    : Not known as the subject is incorporated in USA

 

Each share value : Not known as the subject is incorporated in USA

 

 

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 wholly owned subsidiary of famous US company Chevron Corporation. The company is famous for Oil and Gas drilling and the company is running Gas fields in Sylhet and Camilla districts which are under block no.13 and 14.

 

Mr.Andrew L.Fawthrop, the president and country director is an experienced senior executive of Chevron Corporation and very well acquainted in this line of business.

 

It can be considered normal for business dealings at usual trade terms and conditions.

 

 

                

 

 

 

 

 

 

 

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

 

 

 

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