MIRA INFORM REPORT

 

 

Report Date :           

27.02.2012

 

IDENTIFICATION DETAILS

 

Name :

SHAH CEMENT INDUSTRIES LIMITED

 

 

Registered Office :

D. T Road, Pahartali, Chittagong-4000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

10.12.1996

 

 

Com. Reg. No.:

CH-2449

 

 

Legal Form :

Private Limited    Company

 

 

Line of Business :

Manufacturer & Seller  of Cement

 

 

No. of Employees :

800

 

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$ 30,000.00

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

Shah Cement Industries Limited

Address

D. T Road, Pahartali, Chittagong-4000

Country

Bangladesh

Telephone No

880-31-714541-4

Fax No

880-31-720239

E-Mail

info@shahcement.com

Website

www.shahcement.com

Established

December 1996

Company Registration No

CH-2449

Registration date

10th December 1996 

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Chittagong

Business Type

Manufacturer & Seller

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

D. T Road, Pahartali, Chittagong-4000

Location: Owned

Area: 3500 Sq.fts

Telephone No

880-31-714541-4

Fax No

880-31-720239

E-Mail

info@shahcement.com

Website

www.shahcement.com

Dhaka Corporate Office

Hussain & Khan Centre (4th Floor), 13 Dilkusha C/A, Dhaka-1000

Tel No: 880-2-9554025, 9550324

Fax No: 880-2-9563925

Factory

Muktarpur, Munshigonj, Bangladesh

Factory Telephone No

NIL

Factory Fax No

NIL

Warehouse

Muktarpur, Munshigonj, Bangladesh

 

DIRECTORS

 

Name

Mr. Abul Quashem

Designation

Chairman

Nationality

Bangladeshi

 

 

Name

Mr. Abu Sayed Chowdhury

Designation

Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Abul Hashem

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Shah Shafiqul Islam

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Mr. Abul Quashem

Share Percent

30%

Nationality

Bangladeshi

 

 

Name

Mr. Abu Sayed Chowdhury

Share Percent

35%

Nationality

Bangladeshi

 

 

Name

Mr. Abul Hashem

Share Percent

20%

Nationality

Bangladeshi

 

 

Name

Mr. Shah Shafiqul Islam

Share Percent

15%

Nationality

Bangladeshi

BUSINESS DETAILS

 

Line of Business

Manufacturer & Seller

Items Dealing In

Cement

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Local: Cash or Credit

Production Capacity

2 million tons per year

 

 

BANKERS

 

Name

Dhaka Bank Limited

Branch

Khatunganj Branch

Address

Khatunganj, Chittagong

SWIFT

N/A

 

 

Name

National Bank Limited

Branch

Agrabad Branch

Address

Agrabad C/A, Chittagong

SWIFT

N/A

 

 

Name

EXIM Bank Limited

Branch

Agrabad Branch

Address

Agrabad C/A, Chittagong

SWIFT

N/A

 

 

Name

Southeast Bank Limited

Branch

Agrabad Branch

Address

Agrabad C/A, Chittagong

SWIFT

N/A

 

Information Parted By:

 

Name               : Mr. Liaquet

Designation     : Account Manager

Contact No.:     00880-2-9554025

Date                 : 27.02.2012

 

 

FINANCIAL INFORMATION

 

Year

2011

2010

 

2009

Investment

Tk.3.8 billion

Tk.3.8 billion

Tk.3.6 billion

Turnover

Tk.8.7 billion

Tk.8.4 billion

Tk.8 billion

Liability

Tk.0.4 billion

Tk.0.7 billion

Tk.1 billion

Assets

Tk.5.7 billion

Tk.5.7 billion

Tk.5.3 billion

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.500 million

Paid Up Capital

Tk.1 million

Each Share Value

Tk.100.00

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

128.0696

U.S Dollar

1

81.7500

European Euro

1

108.2779

 

 

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$ 30,000.00

90 Days

 

GENERAL INFORMATION

 

Employees

800

Office Area (Sq. Ft)

3,500 sq.ft (own)

Factory Area (Sq. Ft)

3.5  Acres of land (own)

Warehouse Area (Sq. Ft)

10,000 sq.ft (own)

Range of Products

4 Ordinary Portland and

4 Composite Portland Cement.

Raw Materials From 

4 Pakistan

4 Indonesia

4 India

Brand Name

4 Shah Cement 

Major Clients

4 Government Departments

4 Private Construction Companies

4 Apartment Builders & Developers

Certifications

NIL

Group Name

4 Abul Khair Group

Subsidiaries / Affiliates

4 Abul Khair Tobacco Co Limited

4 Shah Poly Pack Limited

4 Starship Condensed Milk Limited

4 Shah Dairy Food Products Limited

4 Abul Khair Steel Mills Limited

4 Abul Khair Trading Co Limited

4 Abul Khair Biri Factory Limited

4 Abul Khair Edible Oil Co Limited

4 Abul Khair Tea Company Limited

4 Abul Khair Steel industries Limited

4 Abul Khair Consumer Products Limited

4 Abul Khair Steel Products Limited

4 Abul Khair Strip Processing Limited

Member

4 Chittagong Chamber of Commerce & Industries, Chittagong

4 Bangladesh Cement Manufacturers Association, Dhaka

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.07

UK Pound

1

Rs.77.19

Euro

1

Rs.65.57

 

 

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.