MIRA
INFORM REPORT
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Report Date : |
25.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
GAS TRANSMISSION CO LIMITED |
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Registered Office : |
House No.1, Road No.12, Sector-3, Dhaka-1230 |
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Country : |
Bangladesh |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
14.12.1993 |
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Com. Reg. No.: |
C-25142 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Transmission of natural
Gas Distribution through own Pressure pipe lines |
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 : |
No Complaints |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Gas
Transmission Co Limited
Address: House No.1,
Road
No.12,
Sector-3,
Dhaka-1230
Country: Bangladesh
Telephone: 880-2-9362800,
9354963, 8322578, 8311807,
Fax No : 880-2-9358100,
E-mail: info@gtcl.org.bd
Established: December,
1993
Incorporation No: C-25142
Incorporation Date: 14th December, 1993
Legal Structure:
The subject is a Private
Limited Company that was
Incorporated in the Registrar of
Joint Stock of
Companies, Dhaka.
Business Type:
Transmission of natural
Gas Distribution through own
Pressure
pipe lines
Status: Satisfactory
Payments: No complaints
have been heard regarding payments
from local suppliers or banks.
Litigation: NIL
LOCATIONS
Head Office: Red Crescent Borak Tower (Level 4, 5
& 6),
71 - 72 Old Elephant Road
Eskaton,
Ramna
Dhaka 1000.
Telephones: 880-2-9362800,
9354963, 8322578, 8311807,
Fax : 880-2-9358100,
E-Mail : info@gtcl.org.bd
gtcl@citechco.net
Branch: NIL
Factory: N/A
DIRECTORS & SHAREHOLDERS
Name: Mr.
Jalal Ahmed
Designation: Chairman
Name: Mr.Manjur
Murshed Talukdar
Designation: Managing Director
Name : Mr.Alauddin
Designation : Director
Name : Mr.M.A.Rais
Siddique
Designation : Director
Name : Major
(rtd) Muktadir Ali
Designation : Director
Name : Mr.Ijaz
Hossain
Designation : Director
Name : Mr.Siddique
Zubair
Designation : Director
Name : Mr.A.Y.M.Kamal
Designation : Director
BUSINESS DETAILS
Line of Business:
Transmission of natural
Gas Distribution through own
Pressure
pipe lines
Items Dealing
In: Transmission of Natural Gas
Projects: 1 Beanibazar to Kailashtila Gas Transmission Pipeline
Project
1 Ashuganj-Bakharabath Project
1 SCADA Telecommunication System
1 Pachimanchal Gas Transmission Project
1 Rashidpur-Ashuganj gas Transmission Project(1s
stage)(Habiganj-Ashuganj Part: 30" dia 54 KM)
1 Rashidpur-Ashuganj gas transmission Project (2nd
stage)(Rashidpur-Habiganj Part: 30" dia, 28 KM)
1 Nalka-Bagra gas Transmission Project
BANKERS
Name: Sonali
Bank Limited
Branch: local
Office Branch
Address: Motijheel
Commercial Area,
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 Investment |
Tk.2.85 billion |
Tk.2.85 billion |
Tk.2.85 billion |
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Turnover |
Tk.3.71 billion |
Tk.3.70 billion |
Tk.3.69 billion |
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Liability |
Tk.948 million |
Tk.948.2 million |
Tk.950 million |
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Fixed Assets |
Tk.5 billion |
Tk.5 billion |
Tk.5 billion |
·
the subject has refused to reveal any information whatsoever. The information
given on the report has been collected un-officially and as such the
authenticity of the facts and figures could not be checked.
CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.100 billion |
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Paid Up Capital |
: |
Tk.100,000.00 |
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Each Share Value |
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Tk.100.00 |
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 |
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GENERAL INFORMATION |
No. of Employees: 485
Executives------------------25
Junior Executives---------42
Engineers-------------------88
Junior Engineers---------110
Supervisory
Staffs---------27
Support Staffs---------------31
General
Staffs--------------55
Technicians-----------------78
Workers----------------------29
Office Area: 3,200
sq.ft (rented)
Factory Area: N/A
Warehouse Area: 4,500 sq.ft.(rented)
Wholly Owned
Subsidiary of: 1 Petro Bangla, Dhaka
Main Client: 1 Titas Gas Distribution Co Limited,
1 Bakhrabad Gas Company Limited
1 Galalabad Gas Distribution Limited,
1 Uttaranchall Gas Company Limited,
Member 1 Dhaka Chamber of Commerce &
Industries, Dhaka
COMMENTS
The subject is a wholly owned subsidiary of Petro Bangla (a
public sector corporation responsible for oil gas exploration) for transmission
of natural gas from the gas field to the distribution companies through their
high pressure pipe lines.
The directors are all senior engineers with lot of
experienced on gas transmission and other related field.
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%)