MIRA
INFORM REPORT
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Report Date : |
23.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MEGHNA BANGLADESH LIMITED |
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Registered Office : |
188/B, Tejgaon, Gulshan Link Road, Dhaka-1208 |
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Country : |
Bangladesh |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
02.04.1995 |
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Com. Reg. No.: |
C-28114 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing, Assembling and Selling of Bicycle to Local
Markets. |
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: Meghna Bangladesh
Limited
Address: 188/B,
Tejgaon,
Gulshan
Link Road,
Dhaka-1208,
Country: Bangladesh
Tel. No. : 880-2-8817611-4
Fax No. : 880-2-9887674
E-Mail: malek@meghnabangladesh.com
Incorporation No. : C-28114
Incorporation Date: 2nd April, 1995
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: 188/B, Tejgaon,
Gulshan
Link Road,
Dhaka-1208,
Branch: NIL
Factory: 188/B, Tejgaon,
Gulshan
Link Road,
Dhaka-1208,
Warehouse: 188/B, Tejgaon,
Gulshan
Link Road,
Dhaka-1208,
DIRECTORS & SHAREHOLDERS
Name: Mr.Mizanur
Rahman
Designation: Chairman & Managing
Director
Name: Maj.(rtd)
Halim
Designation: Director
Name : Mr.M.A.Tanveer
Designation : Director
BUSINESS DETAILS
Line of Business: Importer,
Assembler and suppliers
Terms of Sale: 1 Cash
1 Credit
BANKERS
Name: Brac
Bank Limited
Branch: Gulshan
Branch
Address: Gulshan
Dhaka
Name: Prime Bank Limited
Branch: Gulshan Branch
Address: Gulshan
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.32 million |
Tk.32 million |
Tk.30 million |
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Turnover |
Tk.180 million |
Tk.177.9 million |
Tk.176 million |
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Liability |
NIL |
NIL |
NIL |
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Fixed Assets |
Tk.70 million |
Tk.70 million |
Tk.70 million |
*Collected unofficially as the subject refused to reveal any
information and as such its authenticity could not be checked
CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.30 million |
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Paid Up Capital |
: |
Tk.150, 000.00 |
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Each Share Value |
: |
Tk.100.00 |
EXCHANGE RATE
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CURRENCY |
UNIT |
BANGLADESHI TAKA |
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Great Britain Pound |
1 |
137.1626 |
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U.S Dollar |
1 |
69.4000 |
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European Euro |
1 |
108.8231 |
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Japanese Yen |
1 |
0.6729 |
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Australian Dollar |
1 |
65.7102 |
GENERAL INFORMATION
No. of Employees: 65
Executives-------------------3
Junior Executives--------- 4
Engineers--------------------2
Supervisory
Staffs---------4
General
Staffs-------------10
Technicians-----------------
6
Workers---------------------36
Office Area: 3,500
sq.ft (own)
Factory Area: 10,200
sq.ft (Own)
Warehouse Area: 3,200 sq.ft.(Own)
Range of Products: 1 Bicycles
Raw
Materials From: * 1 Germany
1 UAE
1 Pakistan
* The subject has refused the reveal name
Name of the Group: Meghna
Group
Subsidiaries: 1 Krya
Motors Limited,
1 Meghna Board
Mills Limited,
1 Executive
Motors Limited
1 BMW
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 bicycle to local markets.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.40 |
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UK Pound |
1 |
Rs.83.15 |
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Euro |
1 |
Rs.65.74 |
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%)