MIRA INFORM REPORT

 

 

Report Date :

19.11.2008

 

IDENTIFICATION DETAILS

 

Name :

PHP NOF CONTINUOUS GALVANIZING MILLS LIMITED

 

 

Registered Office :

Php House, 31, Agrabad Commercial Area, Chittagong,

 

 

Country :

Bangladesh

 

 

Financials (as on) :

2007

 

 

Date of Incorporation :

13.07.2004

 

 

Com. Reg. No.:

C-4406

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

manufacturing and selling of gp coil, gp sheet ci coil etc

 

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:                          Php Nof Continuous Galvanizing Mills Limited

 

Address:                       Php House,

                                    31, Agrabad Commercial Area,

                                    Chittagong,

 

Country:                       Bangladesh      

 

Tel No Given:               880-31-2511037-41,

 

Fax No Given:              880-31- 726982

 

E-Mail:                         info@phpgroupbd.com
                                 

Established:                 July 2004

 

Incorporation No :        C-4406

 

Incorporation Date:     13th July 2004

 

Legal Structure:           The subject is a private limited company in corporate

                                    With the Registrar of Joint Stock Companies,

                                    Dhaka,

 

Business Type:             Manufacturer & Sellers

 

Status:                         Satisfactory

 

 

Payments:                    No complaints have been heard regarding payments 

                                    from local suppliers or banks.

 

Litigation:                             NIL

 

 

LOCATIONS

 

Head Office:                 Php House,

                                    31, agrabad Commercial Area,

                                    Chittagong,

           

Tel No Given:               880-31-2511037-41,

 

Fax No Given:              880-31- 726982

 

E-Mail:                         info@phpgroupbd.com
                                 

Branch:                        NIL

 

Factory:                       Bara Kumira,

                                    Sitakunda,

                                    Chittagong

 

Warehouse:                 Bara Kumira,

                                    Sitakunda,

                                    Chittagong

                                               

 

SHAREHOLDER’S AND DIRECTORS

 

Name:                                      Mr. M.Mizanur Rahman Chowdhury

Designation:                           Chairman

 

Name:                                      Mr. M.Mohsin Chowdhury

Designation:                            Managing Director

 

Name:                                      Mr. M.Iqbal Hossain Chowdhury

Designation:                            Director

 

Name:                                      Mr. M.Zahirul Islam Chowdhury

Designation:                            Director

 

Name:                                      Mr. M.Ali Hossain Chowdhury

Designation:                            Director

 

Name:                                      Mr. M.Amir Hossain Chowdhury

Designation:                            Director

 

Name:                                      Mr. M.Akther Parvez Chowdhury

Designation:                            Director

 

Name:                                      Mr. M.Anowarul Haque Chowdhury

 

 

BUSINESS DETAILS

 

Line of Business:                     Manufacturer & Sellers

 

Terms of Sale:                         1 Cash

                                                1 Credit

                       

BANKERS

 

Name:                                      Standard Charterd Bank

Branch:                                    Agrabad Branch,

 

Address:                                   Agrabad Commercial Area,

Chittagong

 

Name:                                      Bank Asia Ltd

Branch:                                    Agrabad Branch,

 

Address:                                   Agrabad Commercial Area,

                                                Chittagong

 

 

FINANCIAL INFORMATION

 

 

 

2007

 

2006

 

2005

 

Capital Investment

Tk.70 million

Tk.70 million

Tk.70 million

Turnover

Tk.950 million

Tk.947.9 million

Tk.946 million

Liability

Tk.10 million

Tk.10.2 million

Tk.11.7 million

Fixed Assets

Tk.120 million

Tk. 120 million

Tk.120 million

 

* Collected un-officially as the subject has flatly refused to reveal any financial information

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk.500 million

Paid Up Capital

:

Tk.5 million

Each Share Value

:

Tk.100.00

 

 

EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

GB Pound

1

137.1626

U.S Dollar

1

  69.4000

European Euro

1

108.8231

Japanese Yen

1

   0.6729

Australian Dollar

1

 65.7102

 

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:        352

Executives----------------4 

Junior Executives---------5

Engineers----------------10

Junior Engineers--------12

Quality Control----------18

Supervisory Staffs- ----22

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

General Staffs----------11

Workers---------------262

 

Range of Products:                  1 GP Coil

                                                1 GP Sheet

                                                1 CI Sheet

 

Office Area:                             2,500 sq.ft (own)

 

Factory Area:                           2.2 acres lands (own)

 

Warehouse Area:                     6,800 sq.ft.(Own)

 

Certification:                            1 ISO:9001-2000

                                                                                               

Member:                                  1 Bangladesh Cold Rolled Steel Mfg. Association, Dhaka

                                                1 Chittagong Chamber of Commerce & Industries

                                   

Name of the Group:                 PHP Group

 

Subsidiaries:                            1 PHP Corporation Limited,

                                                1 PHP Cold Rolling Mills Limited,

                                                1 PHP Steel Limited,

                                                1 PHP Continuous Galvanizing Mills Ltd,

                                                1 PHP Power Generation Plant Limited,

                                                1 Bay Terminal & Distribution Co Limited,

                                                1 PHP Fisheries Limited

                                                1 PHP Latex Rubber Products Limited

                                                1 PHP Float Glass Industries Limited

                                                1 PHP Power Company Limited

                                                1 PHP Shipping Lines Limited

                                                1 PHP Stock & Secretaries Limited

           

 

COMMENTS

 

The subject is a private limited company engaged in manufacturing and selling of gp coil, gp sheet ci coil etc. The company is doing pretty good business and their products are quite demanding in the domestic market. 

 

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

 

The company is good for normal business engagements.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.74

UK Pound

1

Rs.74.37

Euro

1

Rs.62.78

 

 

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