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MIRA INFORM REPORT
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Report Date : |
20.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
KOHINOOR CHEMICAL COMPANY (BANGLADESH)
LIMITED |
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|
|
|
Registered Office : |
Orion House, 153-154, Tejgaon I/A, Dhaka -1208 |
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|
Country : |
Bangladesh |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
17.03.1976 |
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Com. Reg. No.: |
C-17489 |
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|
|
|
Legal Form : |
Public Limited Company |
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|
|
|
Line of Business : |
Manufacturer & Seller of Toiletries |
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$ 28,000.00 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
Usually Correct |
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Bangladesh |
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 |
Kohinoor Chemical
Company (Bangladesh) Limited |
|
Address |
36,
Shahid Tajuddin Ahmed Sharani, Tejgaon, Dhaka-1208 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8891267-70 |
|
Fax No |
880-2-8891523 |
|
E-Mail |
|
|
Website |
|
|
Established |
1956 |
|
Company Registration No |
C-17489 |
|
Registration date |
17th
March 1976 |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer & Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Corporate Office |
Orion House, 153-154, Tejgaon I/A, Dhaka -1208, Bangladesh |
|
Telephone No |
880-2-9888176, 98888494, 9891963, 9862067 |
|
Fax No |
880-2-8826374 |
|
E-Mail |
khair@rkl-bd.com |
|
Website |
www.kohinoor-bd.com |
|
Registered Office |
36, Shahid Tajuddin Ahmed Sharani, Tejgaon, Dhaka-1208 |
|
Factory |
36, Shahid Tajuddin Ahmed Sharani, Tejgaon, Dhaka-1208 |
|
Factory Telephone No |
880-2-8891267-70 |
|
Factory Fax No |
880-2-8891523 |
|
Warehouse |
36, Shahid Tajuddin Ahmed Sharani, Tejgaon, Dhaka-1208 |
DIRECTORS
|
Name |
Mr. Mohammad
Obaidul Karim |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Rezaul Karim |
|
Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Ebadul Karim |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Arzuda
Karim |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Nurun
Nahar |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Shirin
Akhter |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Lt. Col. Kamal
Ahmed PSC. (Rtd.) |
|
Designation |
Independent
Director |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer & Seller |
|
Items Dealing In |
Toiletries |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
BANKERS
|
Name |
Agrani Bank Ltd |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
National Bank
Ltd |
|
Branch |
Tejgaon Branch |
|
Address |
Tajgaon, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Shahjalal Islami
Bank Ltd |
|
Branch |
Tejgaon Branch |
|
Address |
Tajgaon, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Brac Bank Ltd |
|
Branch |
Tejgaon Branch |
|
Address |
Tajgaon, Dhaka |
|
SWIFT |
N/A |
FINANCIAL INFORMATION
Balance
Sheet
As
At 30 June 2010
Currency:
BDT
|
|
2010 |
|
Sources of Fund: |
405,385,529 |
|
Fixed Assets |
338,367,175 |
|
Goodwill |
11,907,332 |
|
Current Assets |
954,341,267 |
|
Inventories |
680,748,217 |
|
Sundry Debtors |
5,773,092 |
|
Advance, Deposit & Prepayments |
163,681,734 |
|
Fixed Deposit |
23,834,177 |
|
Cash & Cash Equivalents |
46,654,920 |
|
Investment & Marketable Securities |
30,000,000 |
|
Inter Project Current Account |
3,649,127 |
|
Current
Liabilities |
1,001,730,042 |
|
Net Current
Asset |
47,388,775 |
|
Accumulated Loss |
102,499,797 |
|
Total |
405,385,529 |
|
Contingent
Liabilities |
268,101,570 |
Profit
& Loss Account
For
the Year Ended 30 June 2010
Currency:
BDT
|
|
2010 |
|
Net Sales
Revenue |
1,491,770,828 |
|
Cost of Good Sold |
1,237,180,162 |
|
Gross Profit |
254,590,666 |
|
Less: Operating Expenses |
180,837,119 |
|
Salaries & Allowances |
73,399,704 |
|
General & Administrative Overhead
|
12,399,189 |
|
Selling & Distribution Overhead |
95,038,226 |
|
Total profit |
77,260,097 |
|
Net Profit
Before W.P.P.F & Income Tax |
52,576,185 |
|
Net Profit
Before Income Tax |
50,072,557 |
|
Net Profit After
Income Tax |
37,059,952 |
|
Net Profit After
Proposed Dividend |
17,059,952 |
|
Accumulated
Profit/(loss) transferred to Balance Sheet |
102,499,797 |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.50,00,00,000 |
|
Paid Up Capital |
Tk.5,00,00,000 |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
123.6136 |
|
U.S Dollar |
1 |
74.7000 |
|
European Euro |
1 |
107.8519 |
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$ 28,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
800 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
40,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
6,500 sq.ft. (rented) |
|
Range of
Products |
4 Soap 4 Cosmetics 4 Toilet Cleaner 4 Tooth Paste 4 Dishwasher |
|
Brand Name |
4 Tibet 4 Sandalina 4 Genstar 4 Bactrol 4 Ice Cool 4 Fair & Care 4 Xpert 4 Heel Guard 4 Clean Master |
|
Certifications |
NIL |
|
Group Name |
4 Orion Group |
|
Subsidiaries /
Affiliates |
4 Interior Accom Consortium Limited 4 Orion Gas Limited 4 Agrabad Accom Consortium Limited 4 Mayor Mohammad Hanif Flyover 4 Orion Knit Textiles Limited 4 Orion Pharma Limited 4 Orion Infusion Limited 4 IEL Consortium & Associates Limited 4 Dutch Bangla Power & Associates Limited 4 Orion Properties Limited 4 City Centre |
|
Enlisted With |
4 Dhaka Stock Exchange, Dhaka 4
Chittagong Stock Exchange, Chittagong |
|
Member |
4 Dhaka Chamber of Commerce &
Industries, Dhaka |
COMMENTS
The subject is public limited company engaged in manufacturing & selling of soap, cosmetics & toiletries in local markets. The qualities of their products are of international standard. The subject is a subsidiary of Orion Group.
The directors are all experienced businessmen. They are financially solvent and good at their business commitment, it is reported.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.61 |
|
UK Pound |
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
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.