MIRA INFORM REPORT

 

 

Report Date :           

11.06.2011

 

IDENTIFICATION DETAILS

 

Name :

CONSTRUCTION DEVELOPMENT CORPORATION LTD.

 

 

Registered Office :

CDCL, P.O. Box No – 573, Thimpu

 

 

Country :

Bhutan

 

 

Financials (as on) :

31.03.2009

 

 

Date of Incorporation :

May 1998

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Construction Industry

 

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

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Bhutan

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 Bottom of Form

 

Construction Development Corporation Ltd.

CDCL, P.O. Box No – 573, Thimpu, Bhutan

Email contact@bhutancdcl.com
Telephone No. 00975-2326341
Fax No: 00975-2326342

 

 

Company summary

 

Year Established           :           May, 1998

 

Incorporation. No.           :           76421/B

 

Legal Status                  :           Limited

 

Name of Directors          :          

                                   

 1. Lyonpo Yeshi Zimba

 2. Dasho Nima Wangdi

 3. Dasho Ugyen Tshechup Dorji

 4. Mr. Pema Wangda

 5. Mr. Sangay Tenzin

 6. Mr. Karma Tshering

 7. Mr. Nima Wangdi

 8. Mr. Sonam Wangchuk

 9. Mr. Sonam Ongdi

10. Mr. Karma Wangchuk

11. Mr. Wangdi Gyaltshen

 

 

Major Shareholders        :           Bhutan Government.

 

Auditors                        :           C. Darji & Associates, Bhutan

 

Staff                              :           215 nos.

                                               

Bankers                        :           Bank of Bhutan, Thimpu, Bhutan

                                                National Bank of Bhutan.

 

Business                       :          

"As overseer as well as a promoter of the construction industry one of the key functions of the Construction Development Corp. Ltd (CDCL) is the registration, classification and monitoring of contractors, consultants and engineers/architects. CDCL acts as a bridge between the private and public sectors; assists contractors in undertaking a more expansive part in the industry and ensure genuine contractors fair and equal access to the award of contracts as well as fair treatment in the execution of contracts.

CDCL, under the umbrella of Ministry of Works & Human Settlement, has also the responsibility to play the role of a coordinator, enabler and facilitator, address the pertinent issues and problems faced by the industry and create an atmosphere for a more vibrant development in the construction industry. Power and power industry.

 

 

Import                           :           India, U.S.A., Japan, Singapore, China,
                                               

 

 

Finance             :          

 

 

Business may be done Euro 150000.00.

 

Remarks                       :           Trading Terms –             Purchase          -           L/C – 30 days  ;  Credit – 30 days

                                                                                    Sales                -           L/C – 30 days    ;  Credit – 30 days

                                   

                                                Well established, respectable and reputed concern, payments are reported to be correct and regular at usual trade terms and condition.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.72.93

Euro

1

Rs.64.72

 

 

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.