MIRA
INFORM REPORT
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Report Date : |
22.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROAD MASTERS MOTORS LIMITED |
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Registered Office : |
Update Group, Tower Halmet (10th Floor),
16,Kamal Ataturk Avenue, Banani, Dhaka |
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Country : |
Bangladesh |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
C-34227 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Assembler and Distributor of Motor
Vehicles |
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 DETAILS
Name: Road Masters Motors
Limited
Address: Update
Group
Tower Halmet (10th Floor),
16,Kamal Ataturk Avenue,
Banani,
Dhaka
Country: Bangladesh
Tel No : 880-2-9892628, 9892453
Fax No : 880-2-8816861
E-Mail: info@updategroupbd.com
Established: 1997
Incorporation No: C-34227
Incorporation Date: 06/11/1997
Legal Structure:
The subject is a Private
Limited Company
Incorporated in the Registrar of
Joint Stock of
Companies, Dhaka.
Business Type: Importer,
Assembler & Distributor
Status: Satisfactory
Payments: No complaints
have been heard regarding payments
from local suppliers or banks.
Litigation: NIL
LOCATIONS
Corporate Office: Update
Group
Tower Halmet (10th Floor),
16 Kamal Ataturk Avenue
Banani,
Dhaka
Bangladesh.
Tel No: 880-2-9892628,
9892453
Fax No: 880-2-8816861
E-Mail: info@updategroupbd.com
Branch: NIL
Assembling Plant: Savar,
Dhaka,
Bangladesh.
DIRECTORS & SHAREHOLDERS
Name: Mr.
Mohammad Iqbal
Designation: Chairman
Name: Mr.
Mohammad Mamun
Designation: Managing Director
Name: Mr.
A.K.M Nurul Hoque
Designation: Director
BUSINESS DETAILS
Line of Business: Importer,
Assembler & Distributor
Items Dealing
In: Motor Cycles
Terms of Sale: 1 Cash
1 Credit
BANKERS
Name: Prime
Bank Limited
Branch: Banani
Branch,
Address: Banani,
Dhaka
The company performs most of the business transactions with the above
mentioned bank. No more details were provided.
FINANCIAL INFORMATION
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2007 |
2006 |
2005 |
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Capital Invested |
Tk.35 million |
Tk.35 million |
Tk.34.4 million |
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Turnover |
Tk.240 million |
Tk.241 million |
Tk.239.8 million |
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Liability |
NIL |
NIL |
NIL |
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Fixed Assets |
Tk.25 million |
Tk.25 million |
Tk.25 million |
* The subject
flatly refused to reveal any financial information. Whatever given here is
collected unofficially and as such its authenticity could not be verified.
CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk. 30 million |
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Paid Up Capital |
: |
Tk. 200, 000.00 |
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Each Share Value |
: |
Tk. 100.00 each |
EXCHANGE RATE
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CURRENCY |
UNIT |
BANGLADESHI TAKA |
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Great Britain Pound |
1 |
143.7238 |
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U.S Dollar |
1 |
69.4023 |
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European Euro |
1 |
101.3730 |
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Japanese Yen |
1 |
0.6176 |
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Australian Dollar |
1 |
63.2055 |
GENERAL INFORMATION
No. of Employees: 85
Executives-------------------05
Junior Executive-----------12
Engineers--------------------04
Technicians------------------25
Quality
Control--------------10
Supervisory
Staffs----------04
General
Staffs---------------22
Office Area: 1,800
sq.ft (own)
Warehouse Area: 6,000
sq.ft.(own)
Range of
Items: 1 Motorcycles
Import
From:* 1 Guangzhou
Dayang Motorcycle Company Ltd - China
1
Kinetic Group – India
Number of
Dealers: 35
Name of the Group: Update
Group
Subsidiaries: 1 Update
Builders Limited, Dhaka
1 Suman Fashion
Garments Limited
1 Suntec
Energy, Dhaka
Member: 1 Dhaka Chamber of Commerce &
Industries, Dhaka
COMMENTS
The subject is a Private Limited
Company engaged in importing of motor vehicles of various kinds in CKD
(Completely Knocked Down) or Build up units from different countries and
distribute in Bangladesh Market through a Dealer Network.
The qualities of their products are good and their clients
are very satisfied with it. The brand of two wheelers sold by the subject is
pretty popular especially among the middle class as it is easily affordable.
The directors are well conversant in their line of trade and
are experienced businessmen. They are reported to be financially solvent and
well backed by his banker.
The company is good for normal business engagements.
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%)