MIRA INFORM REPORT

 

 

Report Date :

14.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

BANGLADESH TELECOMMUNICATIONS COMPANY LIMITED

 

 

Registered Office :

Telejogajog Bhaban, 37/E, Eskaton Garden, Dkaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

16.06.2008

 

 

Com. Reg. No.:

C-81277

 

 

Legal Form :

Public Limited  Company

 

 

Line of Business :

Service Provider of Telecommunication

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

US$ 50,000.00

Status :

Good

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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

Bangladesh Telecommunications Company Limited

Note: The subject operates by this name.

Address

Telephone Exchange Building, Gulshan, Dhaka-1212

Country

Bangladesh

Telephone No

880-2-8322661-4

Fax No

880-2-8314155

E-Mail

ddt@btcl.net.bd

Website

www.btcl.gov.bd

Established

1989

Company Registration No

C-81277

Registration date

16th June, 2008

Legal Status

Public Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Dhaka

Business Type

Service Provider

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Telejogajog Bhaban, 37/E, Eskaton Garden, Dkaka-1000

Bangladesh

Telephone No

880-2-8322661-4

Fax No

880-2-8314155

E-Mail

ddt@btcl.net.bd

Website

www.btcl.gov.bd

Branch

4 Chittagong

4 Rajshahi

4 Sylhet

4 Barisal

4 Khulna

4 Cox’s Bazaar

Factory

N/A

Factory Telephone No

N/A

Factory Fax No

N/A

Warehouse

Telejogajog Bhaban, 37/E, Eskaton Garden, Dkaka-1000

Bangladesh

 

 

DIRECTORS

 

Name

Mr. Sunil Kanti Bose

Designation

Chairman

Nationality

Bangladeshi

 

 

Name

Mr. Syed Monjurul Islam

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Mohammad Abu Bakar Siddique

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. M. Rafiqul Islam

Designation

Director

Nationality

Bangladeshi

 

 

Name

Brig. Gen Kazi Fakhruddin Ahmed, PSc

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Muhammed Zafar Iqbal

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Abu Alam Chowdhury

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Mohammad Jamal Uddin, FCA

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Abu Sayed Khan, FCA, PhD

Designation

Director

Nationality

Bangladeshi

 

 

Name

Engr. S.M. Kabiruzzaman

Designation

Managing Director

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Service Provider

Items Dealing In

Telecommunication

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Local: Cash or Credit

 

BANKERS

 

Name

Sonali Bank Limited

Branch

Corporate Branch

Address

Motijheel Commercial Area, Dhaka

SWIFT

N/A

 

 

Name

Janata Bank Limited

Branch

Corporate Branch

Address

Motijheel Commercial Area, Dhaka

SWIFT

N/A

 

FINANCIAL INFORMATION

 

Balance Sheet

As At 30 June 2009

 

 

2009 (TAKA)

Assets

 

Non-Current Assets

 

Property, plant & equipment 

353,932,356,886

Capital work-in-progress

512,447,805

Other non-current assets

 

Government provident fund-Contra

1,836,580,464

Renewal & reserve fund-Government

1,734,237,000

 

3,570,817,464

Investment in share

105,004,564

 

 

Current Assets

41,518,332,338

Current Liabilities

21,696,108,809

Non-current Assets

19,822,223,530

Total Assets

377,942,850,249

Authorized Capital

150,000,000,000

OWNERS Equity

 

Share capital

1,800

Equity reserve

280,604,770,110

Retained earnings

1,061,453,071

 

281,666,224,981

 

 

Non-current liabilities

 

Loans

20,556,690,710

Long-tern loans to employees

31,459,157,319

Government provident fund-Contra

1,836,580,464

Other Long-term liabilities

42,424,196,775

 

96,276,625,268

 

377,942,850,249

 

Income Statement

For Year Ended 30 June 2009

 

 

2009

Revenue

16,893,605,409

Less: cost of sale

5,544,675,909

Administrative expenses

2,645,674,265

Repairs & maintenance

411,425,065

Depreciation

5,278,228,234

Amortization of deferred expenditures

18,054,281

Provision for doubtful debts

497,162,100

 

14,395,219,854

Operation Income

2,498,385,555

Add: non-operating income

303,213,701

 

2,801,599,256

Less: Financial Expenses

498,890,265

Exchange Loss

131,604,077

Net profit before loss

2,171,104,904

Less: Provision for income tax

1,109,651,843

Net profit after tax

1,061,453,071

 

Auditor: Huda Vasi Chowdhury & Co.

            Chartered Accountants

              Dhaka

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.100 million

Paid Up Capital

Tk.100,000.00

Each Share Value

Tk.100.00 each

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

111.9315

U.S Dollar

1

71.0000

European Euro

1

93.2656

 

 

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$ 50,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

19,000

Office Area (Sq. Ft)

15,500 sq.ft (owned)

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

20,000 sq.ft (owned)

Range of Services

4 Fixed Line Telephones

4 Telegraph System

4 Internet services       

Technical Support By 

4 NEC ------------ Japan

4 Alcatel --------- France

4 Italtel ---------- Italy

4 Ericsson ------- Sweden & Mexico

4 Netus ---------- Turkey

4 CMEC ---------- China

4 GDT ----------- China

4 ZTE ----------- China

Number of Fixed Line 

4  890,110

Certifications

NIL

Controlling Authority 

Ministry of Telecommunications, Government of People’s Republic of Bangladesh

Subsidiaries / Affiliates

4 Telephone Shilpa Shangstha Limited

Member

4 United Nation Telecommunication Union, Switzerland

 

 

COMMENTS

 

The subject is a Public Limited company engaged in providing Telephone and allied Services. The Telegraph branch under the Posts and Telegraph Department was created in 1853 in the then British India and was regulated afterwards under the Telegraph act of 1885. This telegraph branch was   reconstructed in 1962 in the then Pakistan as Pakistan Telegraph and Telephone Department.

 

After the independence of the People's Republic of Bangladesh in 1971, Bangladesh Telegraph and Telephone Department was set up under the ministry of Posts and Telecommunications to run the Telecommunications services in Bangladesh. This was Converted into a corporate body named 'Telegraph and Telephone Board' by Promulgation of Telegraph and Telephone Board Ordinance, 1975. In Pursuance of Ordinance No. XII of 1979 promulgated on 24th February, 1979; Telegraph and Telephone Board was converted to "Bangladesh Telegraph and Telephone Board" as Government Board. Later in 2008 it was converted into a Public limited Company. The members are all senior executives with plenty of experience who knows their job well.

 

OREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.13

UK Pound

1

Rs.71.05

Euro

1

Rs.59.10

 

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%)

 

 

 

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.