MIRA INFORM REPORT

 

 

Report Date :

14.04.2008

 

 

IDENTIFICATION DETAILS

 

Name :

UTTARA MOTORS LIMITED

 

 

Registered Office :

39, Dilkusha Commercial Area, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

17.03.1973

 

 

Com. Reg. No.:

C-3923

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importer, Sellers and Assemblers

 

 

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 :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

 

COMPANY DETAILS

 

Name:                                      Uttara Motors Limited

 

Address:                                   39, Dilkusha Commercial Area,

                                                Dhaka-1000,

                                               

Country:                                    Bangladesh      

 

Tel No :                                     880-2-9555280, 9564164, 9561629,

 

Fax No :                                    880-2-9565172

 

E-Mail:                                      uttaragp@citechco.net

                                               

Incorporation No :                       C-3923

 

Incorporation Date:                     17th March, 1973

 

Legal Structure:                         The subject is a Private Limited Company that was 

            Incorporated in the Registrar of Joint Stock of 

            Companies, Dhaka.

 

Business Type:                          Importer, Sellers and Assemblers

 

Status:                                      Satisfactory

 

 

 

Payments:                                No complaints have been heard regarding payments 

                                                from local suppliers or banks.

 

Litigation:                                  NIL

 

 

LOCATIONS

 

Head Office:                              39, Dilkusha Commercial Area,

                                                Dhaka-1000,

                                   

Branch:                                    1 Chittagong

                                                1 Jessore

                                                1 Sylhet

                                                1 Bogra

                                                1 Khulna

 

Factory:                                    Nasirabad Industrial Area,

                                                Chittagong,

                                               

Warehouse:                               Nasirabad Industrial Area,

                                                Chittagong,

 

 

DIRECTORS & SHAREHOLDERS

 

Name:                                       Mr. M. Motiur Rahman

Designation:                             Chairman & Managing Director

 

Name:                                       Mr. M. Mujibur Rahman

Designation:                             Director

 

Name:                                       Mr. M. Rafiqur Rahman

Designation:                              Director

 

Name:                                       Mr .M.M Rahman

Designation:                              Director

 

 

BUSINESS DETAILS

 

Line of Business:                       Importer, Sellers and Assemblers

 

Items Dealing In:             Importer:          1 Cars

                                                            1 Jeeps

                                                            1 Pick-ups

                                                            1 Trucks

                                                            1 Passenger Bus

 

                                         Assemblers: 1 CNG Three Wheelers

                                                           

 

Terms of Sale:                                       1 Cash

                                                            1 Credit

 

 

 BANKERS    

 

Name:                                       Standard Charterd Bank

Branch:                                     Dilkusha Branch

 

Address:                                   Dilkusha Commercial Area,

Dhaka

 

Name:                                       IFIC Bank Limited,

Branch:                                     Dilkusha Branch,

 

Address:                                   Dilkusha Commercial Area,

                                                Dhaka

                                               

                                       

The company performs most of the business transactions with the above mentioned bank. No more details were provided.

 

 

 

 

FINANCIAL INFORMATION

 

 

 

2006

 

2005

 

2004

 

Capital Investment

Tk.1.5 billion

Tk.1.5 billion

Tk.1.5 billion

Turnover

Tk.6 billion

Tk.5.8 billion

Tk.5.4 billion

Liability

Tk.330 million

Tk.335 million

Tk.341 million

Fixed Assets

Tk.2.7 billion

Tk.2.7 billion

Tk.2.5 billion

 

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk.200 million

Paid Up Capital

:

Tk.500,000.00

Each Share Value

:

Tk.100.00

 

 

EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

Great Britain Pound

1

143.7238

U.S Dollar

1

 69.4023

European Euro

1

101.3730

Japanese Yen

1

   0.6176

Australian Dollar

1

 63.2055

 

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:         485

Executives-------------------------6   

Junior Executives---------------20                                                                Automobile Engineers-----------8

Junior Automobile Engineers-15

Sales Staffs------------------------30         

                                                Quality Control--------------------35   

                                                Supervisory Staffs---------------40  

                                                Support Staffs----------------------8     

                                                General Staffs---------------------25    

                                                Technicians------------------------70   

                                                Workers---------------------------228

 

Office Area:                               2,900 sq.ft (rented)

 

Factory Area:                            10,500 sq.ft (Own)

 

Warehouse Area:                       8,500  sq.ft.(Own)

 

Principals From:                        1  Suzuki Motors Limited--Japan

                                                1  Bajaj Autos--------------India

1      Maruti Uddyog----------India

1      Isuzu--------------------Japan

                                               

Name of the Group:                    Uttara Group

 

Subsidiaries:                             1  Uttara Finance & Investment Company Limited

1      Monica Motors,

1      Eastern Motors,                                          

 

Member                                    1 Dhaka Chamber of Commerce & Industries, Dhaka

                                                1 Bangladesh Automobile Importer & Exporters &

    Assembler Association, Dhaka

 

 

COMMENTS

 

The subject is a family owned private limited company who is engaged in importing, selling and assembling and CNG three wheelers. The company was originally started by late Muklesur Rahman in 1973, who was dynamic business entrepreneur of his time. The present managing director Mr.Motiur Rahman is the younger brother of late founder.

 

The companies assembled CNG three wheelers are very popular and only three wheeler running all over the country. Beside they also import and sells Suzuki and Maruti Cars.

 

The directors are well conversant in their line of trade and they are also experienced businessman. They are financially solvent and good at their business commitments, it is reported.

 

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.

 

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