MIRA INFORM REPORT
|
Report Date : |
18.04.2011 |
Note:
The subject operates from WAPDA Bhaban, 12
Motijheel Commercial Area,
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
WAPDA Bhaban, 12 Motijheel Commercial Area, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2009 |
|
|
|
|
Date of Incorporation : |
05.08.1959 |
|
|
|
|
Legal Form : |
Statutory Body |
|
|
|
|
Line of Business : |
Production, Purchase & Distribution of
Power
for domestic & Industries |
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 |
|
Maximum Credit Limit : |
US$ 60,000.00 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COMPANY
DETAILS
|
Name |
|
|
Address |
WAPDA Bhaban, 12 Motijheel Commercial Area, |
|
Country |
|
|
Telephone No |
880-2-9566061-5,
9566170-9 |
|
Fax No |
880-2-9564475 |
|
E-Mail |
chbpd@bol.com |
|
Website |
www.bpdb.gov.bd |
|
Established |
5th August, 1959 Statutory body established under
Government ordinance of 1959 |
|
Company Registration No |
N/A |
|
Registration date |
N/A |
|
Legal Status |
Statutory Body |
|
Business Type |
Production, Purchase & Distribution of Power |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local suppliers
or banks. |
LOCATIONS
|
Head Office |
WAPDA Bhaban, 12 Motijheel Commercial Area, |
|
Telephone No |
880-2-9566061-5,
9566170-9 |
|
Fax No |
880-2-9564475 |
|
E-Mail |
chbpd@bol.com |
|
Website |
www.bpdb.gov.bd |
|
Regional Office |
4 4 Sylhet 4 Narayanganj 4 Bogra 4 4 Rajshahi |
MEMBERS
|
Name |
Mr. A. S. M. Alamgir Kabir |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
|
|
Designation |
Member-Generation |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. K. G. A. Rabbani |
|
Designation |
Member-Planning & Development |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
|
|
Designation |
Member-Administration |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. MD. Fazlul Hoque |
|
Designation |
Member-Finance |
|
Nationality |
Bangladeshi |
BUSINESS
DETAILS
|
Line of Business |
Production, Purchase & Distribution of Power |
|
Items Dealing In |
Power for
domestic & Industries |
|
Terms of Purchase |
Local: Cash or Credit |
|
Terms of |
Local: Cash or Credit |
|
Production
Capacity |
16,699 MVA |
BANKERS
|
Name |
Sonali Bank
Limited |
|
Branch |
Local office
Branch |
|
Address |
Motijheel commercial Area, Dhaka-1000 |
|
SWIFT |
N/A |
FINANCIAL
INFORMATION
BALANCE
SHEET
AS
AT 30 JUNE 2009
|
|
2009 |
|
ASSETS |
|
|
NON CURRENT ASSETS |
|
|
Property, plant and equipment |
166,344,163,125 |
|
Capital work in progress |
20,261,790,409 |
|
Investments |
7,411,681,856 |
|
Investments in associated company |
12,514,945,528 |
|
CURRENT ASSETS |
|
|
Trade and other receivables |
48,127,417,758 |
|
other receivable |
9,615,715,295 |
|
Inventory |
8,320,766,472 |
|
Advance to contractors and suppliers |
2,439,917,419 |
|
Advance to employees |
1,312,820,663 |
|
Deposit and prepayment expenses |
1 09,233,194 |
|
Cash and cash equivalents |
22,214,937,336 |
|
|
92,140,808,137 |
|
Total assets |
298,673,389,054 |
|
EQUITY |
|
|
Share Capital |
|
|
Authorized Capital |
100,000,000,000 |
|
Paid up Share capital |
92,964,804,898 |
|
Capital reserve |
123,237,923,306 |
|
Retained earnings |
(100,780,954,251) |
|
Total equity and reserve |
115,421,773,952 |
|
CURRENT LIABILITIES |
|
|
Trade and other payables |
10,009,294,207 |
|
Other liabilities |
6,312,724,317 |
|
Clearing accounts |
3,566,765,265 |
|
|
19,888,783,789 |
|
Current portion of long term liabilities |
|
|
Current portion
of long term liabilities current year |
4,785,942,022 |
|
Debt Service liabilities |
85,491,580,849 |
|
|
90,277,522,871 |
|
LONG TERM LIABILITIES |
|
|
Loans and other borrowings |
|
|
Government loan-price subsidy |
22,400,931,594 |
|
Government loan-project |
30,039,260,673 |
|
Foreign loan |
20,645,116,174 |
|
|
73,085,308,441 |
|
Total liabilities |
1 83,251,615,101 |
|
Total equity and liabilities |
298,673,389,054 |
Income
Statement
For
the Year Ended 30 June 2009
|
|
2009 |
|
Revenue |
|
|
PDB |
|
|
Domestic Light & Power |
6,358,756,900 |
|
Agriculture |
381,247,503 |
|
Small Industries |
1,914,196,704 |
|
Non Residential Light & Power |
388,259,256 |
|
Commercial & Offices |
3,180,634,127 |
|
Medium Voltage (11KV) |
4,298,425,334 |
|
33 KV & Above Consumers |
2,024,048,966 |
|
Street & Pump |
209,479,789 |
|
|
1 8,755,048,579 |
|
Dhaka Power Distribution Company (DPDC) |
12,707,051,883 |
|
Dhaka Electric Supply Company (DESCO) |
6,489,118,726 |
|
West Zone Power
Distribution Company Ltd. (WZPDCL) |
3,528,451,043 |
|
Rural Electrification Board (REB) |
9,635,875,667 |
|
REB - (Regional Accounting Office) RAO |
10,403,743,333 |
|
|
61,519,289,231 |
|
Generation Expenses |
|
|
Electric Purchase IPP |
23,849,306,520 |
|
Electric purchase Rental |
6,978,799,252 |
|
Electric purchase Public Plant |
5,990,340,782 |
|
Transmission expenses |
1,312,524,685 |
|
Fuel consumption |
18,232,707,131 |
|
Manufacturing, labour and overhead |
7,615,316,640 |
|
|
63,978,995,010 |
|
Operating Loss |
(2,459,705,779) |
|
Other operating income |
2,113,370,816 |
|
|
(346,334,964) |
|
Distribution expenses |
4,749,752,429 |
|
Customer Accounts Expenses |
358,775,042 |
|
General and administrative expenses |
1,078,785,471 |
|
Net Loss before
charging Finance cost and exchange loss |
(6,533,647,906) |
|
Financing costs |
2,086,927,832 |
|
Exchange loss\gain |
(334,510,922) |
|
Net Loss |
(8,286,064,816) |
|
Retained earnings |
|
|
Balance as on 1 July 2008 |
(94,382,378,807) |
|
Prior year adjustment |
1,887,489,371 |
|
adjusted balance on 1 July 2008 |
(92,494,889,436) |
|
Net Loss |
(8,286,064,816) |
|
|
(
100,780,954,251) |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
|
1 |
119.4540 |
|
U.S Dollar |
1 |
72.8600 |
|
European Euro |
1 |
105.5450 |
ADVERSE
DATA MONITORING
|
Dishonored
Checks |
No Found |
|
Debt |
No Records Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
MAXIMUM
RECOMMENDED CREDIT
|
Amount |
Based On |
|
US$ 60,000.00 |
90 Days |
GENERAL
INFORMATION
|
Employees |
12,429 |
|
Office Area (Sq.
Ft) |
13,780 sq.ft (own) |
|
Power Plant Area
(Sq. Ft) |
885 acres of lands (own) |
|
Warehouse Area
(Sq. Ft) |
28,600 sq.ft (own) |
|
|
4 Power
for domestic & Industries |
|
Owned By |
4 Ministry
of Power, Government of People’s Republic of |
|
Number of Grid
Sub-Station |
4 108 |
|
Certifications |
NIL |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
4 Power Grid Company of 4 Ashuganj Power
Station Company Limited (APSCL) 4 West Zone Power Distribution Company Limited (WZPDCL) 4 Electricity Generation Company of |
|
Member |
NIL |
COMMENTS
The subject is a statutory body established in 5th August,
1959 established under Government ordinance of 1959 for production, purchase
and selling of power inside the country. In 1972, after the emergence of
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.52 |
|
|
1 |
Rs.72.72 |
|
Euro |
1 |
Rs.64.41 |
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 |
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 |
|
-- |
NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.