MIRA INFORM REPORT
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Report Date : |
20.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ATLAS COPCO BANGLADESH LIMITED |
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Registered Office : |
Sickla Industrievaeg 3, Nacka, 131 34, Sweden |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
15.05.2008 |
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Com. Reg. No.: |
C-70451 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
importing & distributing
of compressed natural gas (CNG) compressors |
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 |
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Maximum Credit Limit : |
US$ 30,000.00 |
|
Status : |
Satisfactory |
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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) |
|
Bangladesh |
b1 |
b1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
COMPANY
DETAILS
|
Name |
Atlas Copco
Bangladesh Limited |
|
Address |
Level 13 (N-E Portion), Unique Trade Centre (UTC) |
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Country |
Bangladesh |
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Telephone No |
880-2-9116709, 9116529 |
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Fax No |
880-2-9117016 |
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E-Mail |
info@atlascopco.com |
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Website |
www.atlascopco.com |
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Established |
2008 |
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Company Registration No |
C-70451 |
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Registration date |
15th
May 2008 |
|
Legal Status |
Private Limited |
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Issuing Authority |
The Register of Joint Stock Companies & Firms, Dhaka |
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Business Type |
Importer & Distributor |
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Status |
Satisfactory |
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Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
Sickla
Industrievaeg 3, Nacka, 131 34, Sweden |
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Telephone No |
+46-8-7438000 |
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Fax No |
+46-8-6449045 |
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E-Mail |
info@atlascopco.com |
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Website |
www.atlascopco.com |
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Branch |
NIL |
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Factory |
N/A |
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Factory Telephone No |
N/A |
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Factory Fax No |
N/A |
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Warehouse |
Level 13 (N-E Portion), Unique Trade Centre (UTC) |
DIRECTORS
|
Name |
Mr. Sune
Carlsson |
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Designation |
Chairman |
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Nationality |
Swedish |
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Name |
Mr. Jacob
Wallenberg |
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Designation |
Vice-Chairman |
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Nationality |
Swedish |
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Name |
Mr. Ronnie
Leten |
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Designation |
President and
Chief Executive Officer |
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Nationality |
Swedish |
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Name |
Ms. Ulla
Litzén |
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Designation |
Director |
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Nationality |
Swedish |
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|
Name |
Mr. Anders
Ullberg |
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Designation |
Director |
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Nationality |
Swedish |
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Name |
Mr. Staffan
Bohman |
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Designation |
Director |
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Nationality |
Swedish |
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Name |
Ms. Margareth
Øvrum |
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Designation |
Director |
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Nationality |
Swedish |
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Name |
Mr. Johan
Forssell |
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Designation |
Director |
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Nationality |
Swedish |
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Name |
Ms. Gunilla
Nordström |
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Designation |
Director |
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Nationality |
Swedish |
SHAREHOLDERS
|
Name |
Atlas Copco
Group |
|
Share Percent |
100% |
|
Country |
Sweden |
BUSINESS
DETAILS
|
Line of Business |
Importer & Distributor |
|
Items Dealing In |
Compressor |
|
Terms of Purchase |
Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
BANKERS
|
Name |
Standard
Chartered Bank |
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Branch |
Gulshan Branch |
|
Address |
Gulshan, Dhaka |
|
SWIFT |
N/A |
FINANCIAL
INFORMATION
Parent
Company Balance Sheet
As
At 31 December 2010
Currency:
MSEK
|
ASSETS |
2010 |
|
Non-current assets |
|
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Intangible assets |
13 464 |
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Rental equipment |
1 843 |
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Other property, plant and equipment |
5 702 |
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Investments in associates |
108 |
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Other financial assets |
2 701 |
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Other receivables |
5 |
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Deferred tax assets |
1 309 |
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Total non-current assets |
25 132 |
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Current assets |
|
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Inventories |
12 939 |
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Trade receivables |
13 318 |
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Income tax receivables |
407 |
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Other receivables |
3 749 |
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Other financial assets |
1 734 |
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Cash and cash equivalents |
14 264 |
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Assets classified as held for sale |
79 |
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Total current assets |
46 490 |
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TOTAL ASSETS |
71 622 |
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EQUITY |
|
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Share capital |
786 |
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Other paid-in capital |
5 312 |
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Reserves |
935 |
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Retained earnings |
22 108 |
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Total equity attributable to equity holders of the parent |
29 141 |
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Minority interest |
180 |
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TOTAL EQUITY |
29 321 |
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LIABILITIES |
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Non-current liabilities |
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Interest-bearing loans and borrowings |
19 615 |
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Post-employment benefits |
1 578 |
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Other liabilities |
187 |
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Provisions |
855 |
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Deferred tax liabilities |
1 167 |
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Total non-current liabilities |
23 402 |
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Current liabilities |
|
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Interest-bearing loans and borrowings |
499 |
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Trade payables |
6 398 |
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Income tax liabilities |
1 197 |
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Other liabilities |
9 530 |
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Provisions |
1 275 |
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Total current liabilities |
18 899 |
|
TOTAL EQUITY AND LIABILITIES |
71 622 |
Parent
Company Income Statement
For
the Year Ended 31 December 2010
Currency:
MSEK
|
|
2010 |
|
Revenues |
69 875 |
|
Cost of sales |
-43 468 |
|
Gross profit |
26 407 |
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Marketing expenses |
-6 914 |
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Administrative expenses |
-4 173 |
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Research and development costs |
-1 517 |
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Other income from operations |
192 |
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Other expenses from operations |
-93 |
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Share of profit of associates |
13 |
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Operating profit |
13 915 |
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Financial income |
423 |
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Financial expenses |
-843 |
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Net financial items |
-420 |
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Profit before tax |
13 495 |
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Income tax expense |
-3 551 |
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Profit from continuing operations |
9 944 |
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Profit from discontinued operations, net of tax |
------- |
|
Profit for the period |
9 944 |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.50 million |
|
Paid Up Capital |
Tk.5 million |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
119.7602 |
|
U.S Dollar |
1 |
73.9900 |
|
European Euro |
1 |
105.8797 |
ADVERSE
DATA MONITORING
|
Dishonored
Checks |
No Found |
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Debt |
No Records Found |
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Litigation |
No Records Found |
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Performance
Defaults |
No Records Found |
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Adverse Press Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
MAXIMUM
RECOMMENDED CREDIT
|
Amount |
Based On |
|
US$ 30,000.00 |
90 Days |
GENERAL
INFORMATION
|
Employees |
400 |
|
Office Area (Sq.
Ft) |
2,500 sq.ft (rented) |
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Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
10,500 sq.ft.(own) |
|
Range of
Products |
4 Compressed Natural Gas (CNG) Compressors |
|
Major
Clients |
4 Local
Consumers |
|
Certifications |
NIL |
|
Parent Company |
4 Atlas Copco Group, Sweden |
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Subsidiaries /
Affiliates |
NIL |
|
Member |
4 Dhaka Chamber of Commerce &
Industries, Dhaka |
COMMENTS
The subject is a
private limited company who is engaged in importing & distributing of
compressed natural gas (CNG) compressors. The subject is engaged in importing
of parent company’s products. The subject is a concern of Atlas Copco Group,
Sweden.
The directors are well conversant in their line of trade and
they are also experienced businessman. They are financially solvent and good at
their business commitments, it is reported.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.93 |
|
UK Pound |
1 |
Rs.72.43 |
|
Euro |
1 |
Rs.63.62 |
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 |
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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.