|
Report Date : |
28.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
FU WANG CERAMIC INDUSTRY LIMITED |
|
|
|
|
Registered Office : |
Fu-Wang Building, House: 55, Road: 17, Banani C/A, Dhaka-1213 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
May 1995 (As Private Limited Company) |
|
|
|
|
Com. Reg. No.: |
C-22197 |
|
|
|
|
Legal Form : |
Public Limited
(1998) |
|
|
|
|
Line of Business : |
Manufacturer,
Exporter & Seller of Tiles |
|
|
|
|
No. of Employees : |
650 |
RATING & COMMENTS
|
MIRAs 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$ 40,000.00 |
|
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 30, 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 |
|
Name |
Fu Wang Ceramic
Industry Limited |
|
Address |
Fu-Wang Building, House: 55, Road: 17, Banani C/A,
Dhaka-1213 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9883274-5, 8825573, 8825361 |
|
Fax No |
880-2-8823985 |
|
E-Mail |
info@fuwangceramic.com |
|
Website |
www.fuwangceramic.com |
|
Established |
May 1995 (As
Private Limited Company) |
|
Company Registration No |
C-22197 |
|
Registration date |
23rd
May 1995 |
|
Legal Status |
Public Limited (1998) |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms , Dhaka |
|
Business Type |
Manufacturer & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
|
Head Office |
116,118
Bir Uttam Mir Shawkat Road, Gulshan-2, Dhaka-1212 |
|
Telephone No |
880-2-9883274-5, 8825573, 8825361 |
|
Fax No |
880-2-8823985 |
|
E-Mail |
info@fuwangceramic.com |
|
Website |
www.fuwangceramic.com |
|
Corporate Office |
Fu-Wang Building |
|
Branch |
Tejgaon Sales Office: House: 12/1,
East Kunipara,Tejgaon I/A, Dhaka-1208. Phone: 9898466,
9887359 Mobile: sales:
01916084254 Email :
info@fuwanggroup.com Chittagong Branch: House: 2, Road:
7, Block: G.Halishahar Housing Estate, Chittagong. Mobile: 01715-623935 Email : info@fuwanggroup.com Sylhet Branch: Milion Monjil Rasos: 4, Sunarpara Mirabazar, Sylhet. Mobile:01914-077280 Email : info@fuwanggroup.com Bogra Branch: Shapru Cottage 4/18
Jaleswritala, (Kalibari More), Bogra. Mobile:
01912855820 Email :
info@fuwanggroup.com House: 95, Puraton Kashba Kathal Tola,
Dhaka Road Jessore. Mobile: 01918810888 Email : info@fuwanggroup.com Rangpur Branch: House: 170,
Lane:1 Bus Terminal
Road (East Side of
Molatool Madrasha) North Babu Kha,
Rangpur. Mobile:
01717-143695 Email :
info@fuwanggroup.com Mymensing Branch: B: 9/12; Basic
Industrial Area Maskanda,
Maymensing. Mobile: 01914-077286 Email : info@fuwanggroup.com Barisal Branch: Sharif Manzil Holding No.: 796/441 (Beside of Hatem
Ali College) C N B Road,
Barisal. Mobile:
01925-605451 Email :
info@fuwanggroup.com Kustia Branch: Village:
Chourhash (Near Rifle Club), Post Office:
Bisic, Police station: Kustia, District:
Kustia. Mobile:
01914-077261 Email:
info@fuwanggroup.com Feni: Mouchak Snacks Golap Chowdhury
Market College Road,
Feni. Mobile: Email: info@fuwanggroup.com |
|
Sales And Display Center |
Ahsan
Plaza-2,First Floor, 84, Bir Uttam C.R Datta Road, Hatirpool, Dhaka-1205 |
|
Factory |
Borkan Monipur, Hotapara, Gazipur Sadar, Gazipur. |
|
Factory Telephone No |
880-2-9289229,
01913-421842 |
|
Factory Fax No |
N/A |
|
Warehouse |
Borkan Monipur, Hotapara, Gazipur Sadar, Gazipur. |
|
Name |
Mr. Alexander Lee |
|
Designation |
Chairman |
|
Nationality |
N/A |
|
|
|
|
Name |
Mr. Khaled N.
Kabir, FCA |
|
Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Kaiful Wara |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Bernard Lee |
|
Designation |
Director |
|
Nationality |
N/A |
|
|
|
|
Name |
Mr. Arif Muhammed Habib Ullah Khan |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Narayan Roy, FCS, FCA |
|
Designation |
Independent
Director |
|
Nationality |
Bangladeshi |
|
Name |
Sponsor/Director |
|
Share Percent |
19.04% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Institute |
|
Share Percent |
26.01% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Public |
|
Share Percent |
54.95% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer, Exporter & Seller |
|
Items Dealing In |
Tiles |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit Export: Against L/C |
|
Name |
Dhaka Bank
Limited |
|
Branch |
Banani Branch |
|
Address |
Banani Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Standard Bank
Limited |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
Fu-Wang Ceramic Industry Limited |
|
|
Consolidated Balance Sheet As On 31
December 2011 |
|
|
Un-Audited |
|
|
|
|
|
PARTICULARS |
31-Dec-2011 |
|
NET
ASSETS : |
|
|
Non-Current
Assets |
802,427,249 |
|
Tangible
Fixed Assets, net of accumulated depreciation |
556,356,011 |
|
Capital Work
in Progress for Machinery |
246,026,178 |
|
Trade Marks |
45,060 |
|
Current
Assets |
409,555,963 |
|
Inventories |
209,844,664 |
|
Sundry
Debtors |
53,497,260 |
|
Loans,
Advances and Deposits |
116,360,098 |
|
Cash and
Cash Equivalents |
29,853,941 |
|
Current
Liabilities and Provisions |
(225,839,623) |
|
Credits,
Short Term Bank Loans and others |
(115,422,186) |
|
Creditors |
(19,323,737) |
|
Accrued
Expenses |
(10,966,104) |
|
Provision
for Income Tax |
(80,127,596) |
|
Net Current Assets / (Current Liabilities) |
183,716,340 |
|
|
986,143,589 |
|
FINANCED
BY : |
|
|
Shareholders
equity |
986,143,589 |
|
Share
Capital |
699,275,940 |
|
Share
Premium |
110,596,499 |
|
Tax Holiday
Reserve |
78,960,533 |
|
Retained
Earnings |
97,310,617 |
|
|
986,143,589 |
Fu-Wang Ceramic Industry Limited
Profit & Loss
Account
For the year ended
31 December 2011
|
|
2011 |
|
TURNOVER (Net of SD & VAT) |
382,200,705 |
|
COST OF GOODS SOLD |
271,234,756 |
|
GROSS PROFIT |
110,965,949 |
|
OPERATING EXPENSES |
|
|
Administrative, Financial & Selling Expenses |
(45,737,182) |
|
OPERATING PROFIT |
65,228,767 |
|
Non-operating Income |
10,865,972 |
|
Capital Gain on Sale of Land |
25,556,742 |
|
|
101,651,481 |
|
Contribution to W. P. & Welfare Fund |
4,840,546 |
|
NET PROFIT BEFORE TAX |
96,810,935 |
|
Provision for Income Tax |
20,524,774 |
|
NET PROFIT AFTER TAX |
76,286,161 |
|
EPS - Basic (Adjusted) |
1.09 |
Sd/-
SAHA MAZUMDER
& CO.
CHARTERED ACCOUNTANTS
|
Authorized
Capital |
Tk.500 million |
|
Paid Up Capital |
Tk.300 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
128.0696 |
|
U.S Dollar |
1 |
81.7500 |
|
European Euro |
1 |
108.2779 |
|
Dishonored
Checks |
No Found |
|
Debt |
No Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
Name :
Munaafi
Designation :
Finance Manager
Contact : 880-2-9883274
Date :27.02.2012
|
Amount |
Based On |
|
US$ 40,000.00 |
90 Days |
|
Employees |
650 |
|
Office Area (Sq.
Ft) |
4,200 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
1 acres of lands (own) |
|
Warehouse Area
(Sq. Ft) |
28,000 sq.ft.(own) |
|
Range of
Products |
4 Floor
Tiles 4 Wall Tiles 4 Stair Tiles 4 Skirting 4
Decoration Tiles 4 Border
Tiles |
|
Certifications |
4 ISO 9002 |
|
Group Name |
4 Fu Wang Group |
|
Subsidiaries /
Affiliates |
4 Fu Wang Foods Limited 4 Fu Wang Beverages Limited 4 Fu Wang Properties Limited |
|
Enlisted With |
4 Dhaka Stock Exchange Limited,
Dhaka 4 Chittagong Stock Exchange Limited,
Chittagong |
|
Member |
4 Bangladesh Ceramic & Sanitary
Wears Mfg., Association, Dhaka 4 Dhaka Chamber of Commerce &
Industries, Dhaka |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.05 |
|
|
1 |
Rs.77.78 |
|
Euro |
1 |
Rs.65.89 |
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 SCs 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.