MIRA INFORM REPORT
|
Report Date : |
29.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEGHNA ENGINEERING WORKS LIMITED |
|
|
|
|
Registered Office : |
Ali Mansion, 1173/1207 Sadarghat Road,
Chittagong |
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|
|
|
Country : |
Bangladesh |
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Date of Incorporation : |
July 1997 |
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|
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Com. Reg. No.: |
2-C1490A |
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|
Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and Selling of Steel Billets |
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$ 45,000.00 |
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|
|
|
Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 |
Meghna Engineering Works Limited |
|
Address |
Ali
Mansion, 1173/1207 Sadarghat Road, Chittagong Note: The subject operates from
this address. |
|
Country |
Bangladesh |
|
Telephone No |
880-31-613282, 616402, 613759,
637758, 635380, 635382 |
|
Fax No |
880-31-610101 |
|
E-Mail |
|
|
Website |
|
|
Established |
1997 |
|
Company Registration No |
2-C1490A |
|
Registration date |
July 1997 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Chittagong |
|
Business Type |
Manufacturer and
Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
Ali
Mansion, 1173/1207 Sadarghat Road, Chittagong |
|
Telephone No |
880-31-613282, 616402, 613759,
637758, 635380, 635382 |
|
Fax No |
880-31-610101 |
|
E-Mail |
|
|
Website |
www.bsrm.com |
|
Branch |
Mahbub
Castle (2nd Floor) 35, Purana Paltan Line Dhaka-1000 880-2-8313135,
9358135,9343174 880-2-8312905 Email:
bsrm@bangla.net, bsrm@aitlbd.net Samad
Mansion, Mendibag, Upa-Shahar, Sylhet 880-821-721239.
Mobile: 01714-080514 Email:
bsrm@sol-bd.com Mohammad
Ali Plaza Shantahar
Road, Charmatha, Bogra, 880-51-60792,
Mobile: 01711-795148 E-mail:
bsrm@bttb.net.bd Plot
No. C-7, Road
No.4, Shiromoni
Industrial Area, Badamtali,
Khulna, 880-41-
785303, Mobile: 01714 031110 E-Mail.bsrmkln@khulna.bangl.net Chandrina
Super Market Airport
Road (Near to EPZ Main Gate), Comilla, Tel:
081-71988. Mobile:01714-080544 E-Mail:
bsrmcml@bttb.net.bd 4-6,
Monowara Complex 100,
Shamsher Nagar Road, Beside
Shah Mostafa College Mouluvi
Bazar 880-861-62986
Mobile:01711-322067 |
|
Factory |
Fouzderhat
Industrial Area, Dhaka Trunk Road, Chittagong, |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Fouzderhat
Industrial Area, Dhaka Trunk Road, Chittagong, |
DIRECTORS
|
Name |
Mr. Ali Hussain
Akbar Ali |
|
Designation |
Chairman & Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Aameir Ali
Hussain |
|
Designation |
Dy. Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zoheir Taher
Ali |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ali Asghar
Africawala |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Hadi Akbar
Ali |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Ali Hussain
Akbar Ali |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Aameir Ali
Hussain |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zoheir Taher
Ali |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ali Asghar
Africawala |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Hadi Akbar
Ali |
|
Share Percent |
10% |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer and
Seller |
|
Items Dealing In |
MS Billet |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Production
Capacity |
120,000 m/tons
per year |
|
Last Year
Production |
120,000 m/tons |
BANKERS
|
Name |
Habib Bank
Limited |
|
Branch |
Laldighi East
Branch |
|
Address |
Laldighi, Chittagong |
|
SWIFT |
N/A |
|
|
|
|
Name |
Agrani Bank
Limited |
|
Branch |
Laldighi Branch |
|
Address |
Laldighi, Chittagong |
|
SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2010 |
2009 |
2008 |
|
Investment |
Tk.25 billion |
Tk.25 billion |
Tk.24 billion |
|
Turnover |
Tk.310.7 million |
Tk.310 million |
Tk.310.5 million |
|
Liability |
Tk.4.5 billion |
Tk.5 billion |
Tk.5.5 billion |
|
Assets |
Tk.55 billion |
Tk.55 billion |
Tk.54 billion |
* The subject has
flatly refused to reveal any financial information. Whatever shown here are
collected unofficially and as such its authenticity could not be verified.
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.5 billion |
|
Paid Up Capital |
Tk.500, 000.00 |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
117.3669 |
|
U.S Dollar |
1 |
75.2400 |
|
European Euro |
1 |
102.0254 |
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$ 45,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
380 |
|
Office Area (Sq.
Ft) |
1,500 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
8 acres of lands (own) |
|
Warehouse Area
(Sq. Ft) |
10,000 sq.ft.(own) |
|
Range
of Products |
4 Gr. – 40 for Plain Bars, Angle, Channel, Tor Steel |
|
Raw Materials
From |
4 Indonesia 4 Turkey 4 China 4 India |
|
Major Clients |
4 Bangladesh Steel re-Rolling Mills Limited (BSRM) |
|
Certifications |
NIL |
|
Group Name |
4 BSRM Group |
|
Subsidiaries /
Affiliates |
4 Bangladesh Steel Re-Rolling Mills Limited 4 Karnafully Engineering Works Limited 4 BSRM Wires Limited 4 BSRM Re-Cycling Industries Ltd. 4 BSRM Iron & Steels Co Ltd. 4 Chittagong Power Company Limited 4 H. Akberali & Co Ltd. 4 Bangladesh Steels Limited 4 East Bengal Trading & Industrial Corporation Limited 4 BSRM Ispat Limited 4 BSRM Steel Mills Limited 4 BSRM Logistics Limited 4 South Asia Securities Limited |
|
Member |
4 Bangladesh Steel Re-Rolling Mills
Association, Chittagong 4 Chittagong Chamber of Commerce
& Industries, Chittagong |
COMMENTS
The subject is a private limited company engaged in
manufacturing and selling of Steel billets. The company produces the products
for their own need only and sells its products to one of its sister concern Bangladesh Steel re-Rolling Mills Limited
only.
The company is a unit of H.
Akberali Group, the most influential business house of the country in the steel
sector.
The directors are well conversant in their line of trade and
they are also experienced businessman. They are financially solvent and good at
his business commitments, it is reported.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.91 |
|
UK Pound |
1 |
Rs.76.53 |
|
Euro |
1 |
Rs.66.43 |
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 |
|
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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.