MIRA INFORM REPORT

 

 

Report Date :           

10.05.2011

 

IDENTIFICATION DETAILS

 

Name :

BATA SHOE COMPANY (BANGLADESH) LIMITED

 

 

Registered Office :

Tongi Industrial Area, Tongi

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

31.07.1972

 

 

Com. Reg. No.:

C-3782

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

manufacturing, exporting and selling of footwear for ladies, men’s and children

 

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$ 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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

Bata Shoe Company (Bangladesh) Limited

Note: The subject operates by this name.

Registered Address

Tongi Industrial Area, Tongi

Note: The subject operates from this address.

Country

Bangladesh

Telephone No

+880-2-9800501-5 Ext: 209

Fax No

+880-2-9800509

E-Mail

info@batabd.com

Website

www.batabd.com

Established

1962

Registration No

C-3782

Registration Date

31st July 1972

Legal Status

Public Limited Company

Business Type

Manufacturer, Wholesaler & Exporter

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Tongi Industrial Area, Tongi

Telephone No

+880 2 9800501-5 Ext: 209

Fax No

+880 2 9800509

E-Mail

info@batabd.com

Website

www.batabd.com

Liaison Office

6, B. B. Avenue (2nd floor), Dhaka

Tannery

Dhamrai, Dhaka

Factory

4 Tongi Industrial Area, Tongi

4 Dhamrai, Dhaka

Warehouse

4 Tongi Industrial Area, Tongi

4 Dhamrai, Dhaka

 

DIRECTORS

 

Name

Mr. Fernando Garcia Restrepo

Designation

Chairman

Nationality

Unknown

 

 

Name

Mr. Muhammad Qayyum

Designation

Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Rashidul Hasan

Designation

Director

Nationality

Bangladeshi

 

 

Name

Barrister Rokanuddin Mahmud

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Mike Middleton

Designation

Director

Nationality

British

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturer

Items Dealing In

Footwear

Terms of Purchase

Local: Cash / Credit

Terms of Sale

Local: Cash / Credit

Export: Against L/C, TT

 

 

FINANCIAL INFORMATION

 

BALANCE SHEET

AS AT 31st DECEMBER 2009

BANGLADESH TAKA (BDT)

 

ASSETS

2009

Property, Plant & Equipment

508,297,292

Capital Work in Progress

13,860,671

Investment in Subsidiary

19,970,000

Deferred Tax Assets

16,000,000

Total Non Current Assets

558,127,963

 

 

Inventories

1,433,325,407

Accounts Receivable

100,987,926

Advance, Deposits & prepayments

278,455,551

Cash & Cash Equivalents

352,067,178

Total Current Assets

2,164,836,062

Total Assets

2,722,964,025

 

 

Equity

 

Share Capital

136,800,000

Reserves & Surpluses

983,687,323

Total Equity

1,120,487,323

 

 

Liabilities

 

Deferred Liability

131,959,233

Total Non Current Liabilities

131,959,233

 

 

Creditors for Good

278,984,626

Creditors for Expenses

518,429,047

Creditors for other Finance

173,433,804

Provision for Tax

454,922,477

Unclaimed Dividend

44,747,515

Total Current Liabilities

1,470,517,469

Total Liabilities

1,602,476,702

Total Equity & liabilities

2,722,964,025

 

 

PROFIT & LOSS ACCOUNT

FOR THE YEAR ENDED 31st DECEMBER 2009

BANGLADESH TAKA (BDT)

 

 

Revenue

4,995,356,942

Cost of Goods Sold

(3,237,854,140)

Gross Profit

1,757,502,802

Other Income

7,103,518

Administration, Selling & Distribution Expenses

(1,108,521,211)

Profit from Operating Activities

656,085,109

Finance Income

10,669,463

Finance Expenses

(3,920,419)

Profit before contribution to workers' profit participation fund

662,834,153

Contribution to workers' profit participation fund

(33,141,708)

Profit before tax

629,692,445

Tax expense:

 

Current tax

184,000,000 

Deferred tax

(3,714,000)

 

180,286,000

 

 

Profit After Tax for the Year

449,406,445

 

 

Basic earnings per share (par value Tk 10)

32.85

 

Auditors:          Rahman Rahman Huq

Chartered Accountants

9, Mohakhali C/A (11th Floor)

Dhaka-1212

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

119.7793

U.S Dollar

1

73.1700

European Euro

1

104.9258

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks

No Record Found

Debt

No Record Found

Litigation

No Record Found

Performance Defaults

No Record Found

Adverse Press Coverage

No Record Found

Money Laundering

No Record Found

 

 

MAXIMUM RECOMMENDED CREDIT

 

Amount

Based On

US$ 50,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

2,700 app

Range of Products

4 Men’s Footwear

4 Ladies’ Footwear

4 Kid’s Footwear

Brands

4 Hush Puppies

4 Scholl

4 Marie Claire

4 North Star

4 B.First

4 Bubblegummers

4 Island

4 Power

4 Sandak

4 Nike

4 Weinbrenner

4 Comfit

4 Bata Thongs

Certifications

4 ISO 9001:2000

Group Name

 Bata Group

Subsidiaries / Affiliates

The subject has Subsidiaries / Affiliates in the following countries

4 Austria

4 Montenegro

4 Bosnia Herzegovina

4 Macedonia

4 Bulgaria

4 Netherlands

4 Croatia

4 Poland

4 Cyprus

4 Portugal

4 Czech Republic

4 Romania

4 Estonia

4 Serbia

4 France

4 Slovakia

4 Greece

4 Slovenia

4 Hungary

4 Spain

4 Iceland

4 Switzerland

4 Italy

4 Kosovo

4 Latvia

4 Lithuania

4 Australia

4 Bahrain

4 Philippines

4 Pakistan

4 Qatar

4 Brunei

4 Singapore

4 China

4 Sri Lanka

4 India

4 Thailand

4 Indonesia

4 Turkey

4 Jordan

4 United Arab Emirates

4 Lebanon

4 Vietnam

4 Malaysia

4 New Zealand

4 Oman

4 Bolivia

4 Chile

4 Colombia

4 Ecuador

4 French Guyana

4 Mexico

4 Peru

4 Botswana

4 Congo(RDC)

4 Kenya

4 Malawi

4 Mauritius

4 South Africa

4 Tanzania

4 Uganda

4 Zambia

4 Zimbabwe

 

 

COMMENTS

 

The Subject is a Public Limited Company engaged in manufacturing, exporting and selling of footwear for ladies, men’s and children. The qualities of their products are very good and are well demanded in the local market. The company is listed in both Dhaka & Chittagong Stock Exchanges.

 

The company is reported to be financially solvent and fair in their trade terms.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.70

UK Pound

1

Rs.73.23

Euro

1

Rs.64.43

 

 

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.