MIRA
INFORM REPORT
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Report Date : |
23.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRANSWORLD BICYCLE CO 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 : |
30.07.2002 |
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Com. Reg. No.: |
C-46547 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing, Assembling and Exporting of Bicycle Export to Overseas 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: Transworld Bicycle Co
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-46547
Incorporation Date: 30th July 2002
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
Exporter
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 Exporter
Terms of Sale: Against L/C
BANKERS
Name: Prime
Bank Limited
Branch: Gulshan Branch
Address: Gulshan
Dhaka
Name: Brac 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.40 million |
Tk.38.2 million |
Tk.38 million |
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Liability |
NIL |
NIL |
NIL |
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Fixed Assets |
Tk.75 million |
Tk.75 million |
Tk.75 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.20 million |
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Paid Up Capital |
: |
Tk.100, 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: 45
Executives------------------2
Junior Executives---------3
Engineers-------------------2
Supervisory
Staffs--------5
General
Staffs------------ 6
Technicians----------------4
Workers--------------------23
Office Area: 3,200
sq.ft (own)
Factory Area: 8,200
sq.ft (Own)
Warehouse Area: 2,200 sq.ft.(Own)
Range of Products: 1 Bicycles
Export To:* 1 Germany
1 UAE
1 Belgium
*The subject refused to reveal the names of their
buyers
Name of the Group: Meghna
Group
Subsidiaries: 1 Krya
Motors Limited,
1 Meghna
Board Mills Limited,
1 Executive
Motors Limited
1 BMW
Limited
1 Meghna
Bangladesh Limited
Member 1 Dhaka Chamber of Commerce &
Industries, Dhaka
COMMENTS
The subject is a private limited company who is engaged in
importing, Assembling and exporting of bicycle export to overseas markets. They
are very well reputed among their clients and their products are of
international quality.
The directors are well conversant in their line of trade and
they are also experienced businessman.
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%)