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MIRA INFORM REPORT
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Report Date : |
20.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ORASCOM TELECOM (BANGLADESH) LIMITED |
|
|
|
|
Registered Office : |
Banglalink, Tigers’ Den, Plot4, SW (H) Gulshan
Avenue, Gulshan, Dhaka 1212, |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
2009 |
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|
|
|
Date of Incorporation : |
25.06.1996 |
|
|
|
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Com. Reg. No.: |
C-28679 |
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|
|
|
Legal Form : |
Public Company With Limited Liability |
|
|
|
|
Line of Business : |
GSM Mobile Phone Service provider |
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$ 100,000.00 |
|
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 – 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 |
Orascom Telecom
(Bangladesh) Limited |
|
Former Name |
Sheba Telecom Pvt. Ltd |
|
Date of Change |
2004 |
|
Address |
Banglalink, Tigers’ Den, Plot-4, SW (H) Gulshan Avenue, Gulshan, Dhaka
1212, |
|
Country |
Bangladesh |
|
Telephone No |
880-191310900 |
|
Fax No |
880-2-8827265 |
|
E-Mail |
|
|
Website |
|
|
Established |
1995 |
|
Commercial Operation From |
June 1996 |
|
Company Registration No |
C-28679 |
|
Registration date |
25th
June 1996 |
|
Legal Status |
Public Company With Limited Liability |
|
Issuing Authority |
The Registrar of
Joint Stock Companies & Firms, Dhaka |
|
Business Type |
GSM Mobile Phone Service |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
banks. |
LOCATIONS
|
Head Office |
Banglalink, Tigers’ Den, Plot4, SW (H) Gulshan Avenue, Gulshan, Dhaka
1212, Bangladesh |
|
Telephone No |
880-191310900 |
|
Fax No |
880-2-8827265 |
|
E-Mail |
info@banglalinkgsm.com |
|
Website |
|
|
Branch |
4 Sylhet 4 Chittagong 4 Khulna 4 Rajshahi 4 Bogra 4 Barishal 4 Rangpur |
|
Factory |
NIL |
|
Factory Telephone No |
NIL |
|
Factory Fax No |
NIL |
|
Warehouse |
NIL |
DIRECTORS
|
Name |
Mr. Naguib
Sawiris |
|
Designation |
Chairman |
|
Nationality |
Egyptian |
|
|
|
|
Name |
Mr.
Ahmed Abou Doma |
|
Designation |
Managing Director |
|
Nationality |
Egyptian |
|
|
|
|
Name |
Mr.
Ragy Soliman |
|
Designation |
Director |
|
Nationality |
Egyptian |
|
|
|
|
Name |
Mr.
Zouhair Abdul Khaliq |
|
Designation |
Director
|
|
Nationality |
Egyptian |
|
|
|
|
Name |
Mr.
Khaled Galal Bishara |
|
Designation |
Director
|
|
Nationality |
Egyptian |
SHAREHOLDER
|
Name |
Orascom Telecom
Ventures Limited |
|
Share Percent |
99.99998% |
|
Country |
Egypt |
|
|
|
|
Name |
Mr. Naguib
Sawiris |
|
Share Percent |
0.000004% |
|
Nationality |
Egyptian |
|
|
|
|
Name |
Mr. Afzal Husain
Choudhury |
|
Share Percent |
0.000004% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ragy Soliman |
|
Share Percent |
0.000004% |
|
Nationality |
Egyptian |
|
|
|
|
Name |
Mr. Zouhair A
Khaliq |
|
Share Percent |
0.000004% |
|
Nationality |
Egyptian |
|
|
|
|
Name |
Mr. Rashid Khan |
|
Share Percent |
0.000004% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ezzeldin M
Heikal |
|
Share Percent |
0.000004% |
|
Nationality |
Egyptian |
BUSINESS DETAILS
|
Line of Business |
GSM Mobile Phone Service |
|
Items Dealing In |
Mobile Phone Services |
|
Terms of Purchase |
N/A |
|
Terms of Sale |
Local: Cash or Credit |
BANKERS
|
Name |
Standard
Chartered Bank |
|
Branch |
Dilkusha Branch |
|
Address |
Dilkusha C/A, Dhaka, Bangladesh |
|
SWIFT |
N/A |
|
|
|
|
Name |
Citi Bank NA |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan, Dhaka, Bangladesh |
|
SWIFT |
N/A |
|
|
|
|
Name |
HSBC |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan, Dhaka, Bangladesh |
|
SWIFT |
N/A |
FINANCIAL INFORMATION
Balance
Sheet
As
At 2009
Currency:
BDT (In Thousand)
|
|
2009 |
|
Assets: Property,
Plant and Equipment (at cost less dep) |
52,174,418 |
|
Project under construction |
6,504,859 |
|
Intangible assets |
2,442,193 |
|
Inter company receivables |
2,092 |
|
Other non current assets |
69,604 |
|
Current assets |
6,332,680 |
|
Total Assets |
67,525,846 |
|
Equity & Liabilities: |
|
|
Share Capital |
24,764,881 |
|
Share money deposit |
18,186,352 |
|
Retained earnings/(loss) |
(26,103,403) |
|
Long term loan |
19,740,356 |
|
Inter company payable |
2,309,948 |
|
Other non current liabilities |
3,407,734 |
|
Current liabilities |
25,219,978 |
|
Total equity & liabilities |
67,525,846 |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.1 billion |
|
Paid Up Capital |
Tk.30 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 |
|
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$ 100,000.00 |
90 days |
GENERAL INFORMATION
|
Employees |
850 |
|
Office Area (Sq.
Ft) |
5,800 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
4,000 sq.ft. (rented) |
|
Range of
Services |
4 Normal mobile phones 4 Internet 4 Data & WAP 4 Fax 4 Voice Tex Mail Services 4 Pre-Paid 4 Post-Paid 4 Banglalink Phonebackup 4 Blood Bank 8008 4 Golpo Chora Gaan 4 Vehicle Tracking: NTrack 4 Friend Finder 4 Amar Tune 4 Stock Info 4 Banglalink Jigyasha 4 Banglalink Messenger 4 Call Block 4 Banglalink Internet 4 Healthlink 4 Song Dedication 4 Music Station 5858 4 Voice Portal 4848 4 Missed Call Alert |
|
Name of Brand |
BANGLALINK |
|
Net Coverage Area |
Entire Bangladesh |
|
Networking By |
4 Ericsson 4 Motorola |
|
Present Subscribers |
4 14.22 million (As of march 2010) |
|
Certifications |
NIL |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
4 Ring Distribution (Pvt.) Limited |
|
Member |
4 Foreign Chamber of
Commerce & Industries, Dhaka 4 Asia
Pacific GSM Provider Association, Dhaka 4 Dhaka Chamber of
Commerce & Industries, Dhaka |
COMMENTS
The
subject is a limited liability public company engaged as GSM Mobile Phone Service provider.
The subject is a
100% owned subsidiary of Orascom Telecom Holding S.A.E., Egypt,
("OTH") in Bangladesh. It was acquired by OTH in 2004, and after a
complete overhaul and the deployment of a new GSM network, its
telecommunication services were re-launched under the brand name BANGLALINK.
When BANGLALINK began operations in Bangladesh in February 2005, its impact was
felt immediately: overnight mobile telephony became an affordable option for
customers across a wide range of market segments.
BANGLALINK
attained 1 million subscribers by December 2005 and 3 million subscribers in
October 2006. in less than two years which is by December 2007, BANGLALINK
overtook AKTEL to become the second largest operator in Bangladesh with more
than 7.1 million customers. BANGLALINK currently has 14.22 million subscribers
as of march 2010, representing a market share of 26%.
The directors are experienced businessmen of good reputation who are reported to be financially solvent and fair in their trade terms.
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 |
|
---- |
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.