MIRA
INFORM REPORT
|
Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TVS AUTO BANGLADESH LIMITED |
|
|
|
|
Registered Office : |
183, Tejgaon Industrial Area, Dhaka-1208 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
2007 |
|
|
|
|
Date of Incorporation : |
2007 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importing, Assembling and Selling of TVS Motor Cycles. |
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: TVS
Auto Bangladesh Limited
Address:
183,
Tejgaon Industrial Area,
Dhaka-1208
Country: Bangladesh
Tel
No: 880-2-9887854,
9897773, 9897854,
Fax No: 880-2-9663554
E-Mail: rangsplc@citechco.net
Established: 2007
Incorporation No:* * File is on movement at ROC
Incorporation Date:*
* File is on movement at ROC
Legal
Structure: The
subject is a Private Limited Company that was
Incorporated in
the Registrar of Joint Stock of
Companies, Dhaka.
Business
Type: Importer,
Assembler and Suppliers
Status: Satisfactory
Payments: No complaints
have been heard regarding payments
from local suppliers or banks.
Litigation: NIL
LOCATIONS
Head
Office: Sonar
Tori Tower (5th Floor),
Sonargaon
Road,
Dhaka,
Telephone: 880-2-9887854,
9897773, 9897854,
Fax: 880-2-9663554
E-Mail: rangsplc@citechco.net
Branch:
NIL
Factory: 183, Tejgaon Industrial
Area,
Dhaka-1208
Warehouse: 183, Tejgaon Industrial
Area,
Dhaka-1208
DIRECTORS & SHAREHOLDERS
Name: Mr.R.Denesh
Designation: Chairman
Name: Mr.J.Akram
Hossain
Designation: Director
Name: Mr.A.Rouf
Chowdhury
Branch: Director
Name: Mrs.Zakia
Rouf Chowdhury
Designation: Director
BUSINESS DETAILS
Line of Business: Importer,
Assembler and Suppliers
Items Dealing In: 1 TVS Motor Cycle-100 cc
1 TVS Motor Cycle-150 cc
Terms
of Sale: 1 Cash
1 Credit
BANKERS
Name: Bank
Asia Limited
Branch: Main
Branch
Address: Motijheel
Commercial Area,
Dhaka
Name: HSBC,
Branch: Anchor
Tower,
Address: Sonagaon
Road,
Dhaka
The company performs most of the business transactions with
the above mentioned bank. No more details were provided.
FINANCIAL INFORMATION*
|
|
2007 |
2006 |
2005 |
|
Capital Investment |
Tk.50 million |
|
|
|
Turnover |
Tk.260 million |
|
|
|
Liability |
NIL |
|
|
|
Fixed Assets |
Tk.100 million |
|
|
CAPITAL STRUCTURE
|
Authorized Capital |
: |
Tk.50 million |
|
Paid Up Capital |
: |
Tk.300,000.00 |
|
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: 82
Executives-----------------3
Junior
Executives---------4
Engineers------------------3
Junior
Engineers-----------5
Sales Staffs---------------10
Support
Staffs-------------5
General
Staffs-------------7
Technicians----------------5
Workers------------------40
Office Area: 2,800
sq.ft (rented)
Factory Area: 30,000
sq.ft (rented)
Warehouse Area: 4,700
sq.ft (rented)
Imported
From: 1 India
Name of the Group: Rangs
group
Subsidiaries: 1 Rangs
Industries Limited,
1 Sea
Resource Limited,
1 Rangs
Properties Limited,
1 Rangs
Motor Cycle Limited,
1 Rangs IT Limited,
1 Bank
Asia Limited,
1 Rangs
Electronics Limited,
1 Rangs
Security Services Limited,
1 Rangs
Telecom Limited,
Member 1 Dhaka
Chamber of Commerce & Industries, Dhaka
COMMENTS
The subject is a private limited company who is
engaged in importing, Assembling and selling of TVS Motor Cycles. The qualities
of the products is good and have a good demand in the local market. The company
is a 50:50 joint venture between TVS & Sons of India and Rian Motors
Limited of Bangladesh.
The directors are well conversant in their line
of trade and they are also experienced businessman.
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%)