MIRA
INFORM REPORT
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Report Date : |
17.10.2007 |
IDENTIFICATION DETAILS
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Name : |
BHUTAN BOARD PRODUCTS LTD. |
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Registered Office : |
P. O. BOX – 91, Phuentsholing |
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Country : |
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Financials (as on) : |
15.07.2006 |
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Date of Incorporation : |
03-05-1983 |
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Com. Reg. No.: |
B-5671 |
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Legal Form : |
Public Limited |
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Line of Business : |
Manufactures of Medium Density (Graded) Particle Boards, Laminated
Particle Boards, Ceilining tiles, flush doors, wall panels, furniture
components and all related products and byproducts. |
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 |
name & address
BHUTAN BOARD PRODUCTS
LTD.
P. O. BOX – 91
Phuentsholing
Tele Phone No. : 975-5-252675 / 252130 / 2523324 / 253713
Fax : 975-5-252676
E-mail : bbpl-el@druknet.bt, bbplmd@druknet.bt , bbpl-hq@druknet.bt
Factory : Tala,
Year Established
03-05-1983
Com. Regn. No.
B-5671
Legal Status
Public Limited
Name of Directors
Sl.
No. Name
1. Chhimi Dorji
2. Nomgey Nidup
3. R. Dorji
4. S. Namjial
Major Shareholders
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Sl. |
Shareholder |
No. of Shares |
Value of Shares |
( % ) |
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1. |
Royal Government of |
638,734.00 |
63,873,400.00 |
45.62 |
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2. |
H & K and Company and Allies |
303,630.00 |
30,363,000.00 |
21.69 |
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3. |
Bank of |
172,400.00 |
17,240,000.00 |
12.31 |
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4. |
Royal Insurance Corporation of |
11,830.00 |
1,183,000.00 |
0.84 |
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5. |
Monk Body |
67,830.00 |
6,783,000.00 |
4.84 |
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6. |
Army Welfare Project |
40,000.00 |
4,000,000.00 |
2.86 |
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7. |
BBPL Employees |
1,370.00 |
137,000.00 |
0.10 |
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8. |
Others |
164,220.00 |
16,422,000.00 |
11.73 |
Auditors
R. K. Dorji & Co.,
Staff
560 Staff
Bankers
Bank of
Business
They are Manufactures of Medium Density (Graded) Particle
Boards, Laminated Particle Boards, Ceilining
tiles, flush doors, wall panels, furniture components and all related
products and byproducts. Collaboration with
Export to
Financial
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Authorised Capital : 39,00,000/- (3,90,000 Equity Shares of Nu 100/-
each) |
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Paidup : 39,00,000/- (3,90,000 Equity Shares of Nu 100/- each) |
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BALANCE SHEET AS
AT 15.07.2006 |
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Liabilities |
Amount (Nu) |
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Assets |
Amount (Nu) |
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Paid up Capital |
3,900,000 |
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Fixed Assets |
34,000,000 |
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Reserve & Surplus |
32,000,000 |
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Stock Intrade |
30200000 |
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Secured Loan |
8,530,000 |
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Sundry Debtors |
26090000 |
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Unsecured Loan |
22,000,000 |
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Cash & Bank |
5,080,000 |
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Current Liab & Prov |
44,400,000 |
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Loans & Advance |
3,400,000 |
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Investment |
12,060,000 |
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Total |
110,830,000 |
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110,830,000 |
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Rs. |
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Sales |
98,782,359 |
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Remarks
Well established and respectable concern, payments are reported to be correct and regular as per commitment. Business may be done at usual trade terms & 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. |
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%)