MIRA
INFORM REPORT
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Report Date : |
27th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
BANGLA
GERMAN LATEX LIMITED |
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Registered Office : |
Plot
No.178-179, Dhaka Export processing Zone, Extesion Area, Savar, Dhaka,
Bangladesh. |
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Country : |
Bangladesh |
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Date of Incorporation : |
10.03.2002 |
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Com. Reg. No.: |
C-45224 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Engaged
in manufacturing and selling of
condoms. |
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 |
Company Name
BANGLA
GERMAN LATEX LIMITED
Address
Plot
No.178-179
Dhaka Export
processing Zone
Extesion
Area,
Savar,
Dhaka
Bangladesh.
Telephones : 880-2-7701857,7701858
Fax : 880-2-7701859
E-mail : bglc@rediffmail.com
SUMMARY
Established :
2002
Incorporation
No. :
C-45224
Incorporation
dated :
10th March,2002
Status :
Satisfactory
Managing
Director & CEO :
Mr.Shah Altaf Hossain
Payment :
Regular
Litigation :
Nil
Capital
Invested :
Tk.10 million
Sales :
Tk. 60 million
Employees :
60
Executives- 2
Junior
Executives- 3
Junior
Engineer- 2
Chemist- 2
Quality
Control- 4
Supervisory
Staffs- 5
Support
Staffs- 2
General
Staff- 5
Technicians- 6
Workers- 29
BANK
Dhaka Bank Limited
Banani Branch,
Dhaka,
FACTORY
Plot No.178-179
Dhaka Export processing Zone
Extension Area,
Savar,
Dhaka
BRANCH
NIL
SHAREHOLDER & DIRECTORS
Mr.Atiqur Rahman
-Chairman
Mr.Shah Altaf Hossain
-Managing Director
Mr.Micheal Kesslring
HISTORY
The subject was established in 2002 Dhaka city by Mr.Shah
Altaf Hossain and other directors having its factory at Dhaka Export Processing
Zone, Savar.
BUSINESS
The company is engaged in manufacturing and selling of condoms.
RANGE OF PRODUCTS
Condom
NAME OF BRANDS
Freedom
PRODUCTION POSITION
Yearly Production Capacity -----60
million pcs
Last year Production -------------60
million pcs
RAW MATERIALS IMPORT FROM
Malaysia
Indonesia
China
EEC Countries
TERMS OF SALES
Cash
Credit
NAME OF GROUP
NILL
SISTER CONCERN
NIL
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.10 million Tk.
10 million Tk.10 million
Turnover
Tk.60 million Tk.59.8 million
Tk.59.6 million
Liability NIL NIL NIL
Fixed Assets Tk.25
million Tk.25 million
Tk.24 million
CAPITAL STRUCTURE
Authorized Capital :Tk.20
million
Paid up Capital :
Tk.100,000.00
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 condoms.
They are well reputed in the local market.
Directors are experienced and 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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