MIRA INFORM REPORT
|
Report Date : |
29.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
BANGLADESH POWER DEVELOPMENT BOARD |
|
|
|
|
Registered Office : |
Wapda Bhaban (1st Floor), Motijheel,
Dhaka-1000 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
30.06.2010 |
|
|
|
|
Year of Establishment : |
1972 |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
Statutory body established under Government ordinance of
1972 |
|
|
|
|
Line of Business : |
Purchase, Generation & Distribution of Electricity |
|
|
|
|
No. of Employees
: |
8000 approx. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 500,000.00 |
|
|
|
|
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 |
|
Name |
Bangladesh Power
Development Board |
|
Address |
WAPDA
Bhaban (1st Floor), Motijheel, Dhaka-1000 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-
9566061-5, 9566170-9 |
|
Fax No |
880-2-
9562154 |
|
E-Mail |
|
|
Website |
|
|
Established |
1972 |
|
Company Registration No |
N/A |
|
Registration date |
N/A |
|
Legal Status |
Statutory body established under Government ordinance of
1972 |
|
Issuing Authority |
N/A |
|
Business Type |
Purchase,
Generation & Distribution |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
WAPDA
Bhaban (1st Floor), Motijheel, Dhaka-1000 |
|
Telephone No |
880-2-
9566061-5, 9566170-9 |
|
Fax No |
880-2-
9562154 |
|
E-Mail |
|
|
Website |
|
|
Zonal Offices |
4 Sylhet 4 Chittagong 4 Comilla 4 Barisal 4 Khulna 4 Rajshahi 4 Rangpur |
|
Factory |
NIL |
|
Factory Telephone No |
NIL |
|
Factory Fax No |
NIL |
|
Warehouse |
NIL |
|
Name |
Mr. A. S. M. Alamgir Kabir |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Abul Qashem |
|
Designation |
Member - Generation |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tamal Chakraborty |
|
Designation |
Member – Planning & Development |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Abduhu Ruhullah |
|
Designation |
Member – Planning & Development |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Humayun Kabir Khan |
|
Designation |
Member – Administration |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Md. Abdul Wahab Khan |
|
Designation |
Member– Distribution |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Fazlul Hoque |
|
Designation |
Member – Finance |
|
Nationality |
Bangladeshi |
|
Line of Business |
Purchase,
Generation & Distribution |
|
Items Dealing In |
Electricity |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Production
Capacity |
7316.00 MW
everyday |
|
Name |
Sonali Bank
Limited |
|
Branch |
Wapda Bhaban
Corporate Branch |
|
Address |
Wapda Bhaban, Motijheel Commercial Area, Dhaka |
|
SWIFT |
BSONBDDHBWP |
|
|
|
|
Name |
Janata Bank
Limited |
|
Branch |
Dilkusha Corporate
Branch |
|
Address |
1, Dilkusha Commercial Area, Dhaka-1000 |
|
SWIFT |
JANBBDDHDCB |
Balance
Sheet
For
the Year Ended 30th June 2010
|
Property &
Assets |
|
|
Fixed Assets |
|
|
Utility Plant in Service |
308,258,707,269 |
|
Less: Accumulated Depreciation |
140,762,340,901 |
|
Written Down
Value |
161,496,366,368 |
|
Project-In-Progress |
25,706,927,526 |
|
Total Fixed
Assets |
187,203,293,894 |
|
Investment |
33,569,779,005 |
|
Current Assets |
|
|
Cash in Hand & At Bank |
19,276,891,224 |
|
Accounts Receivable-Trade |
47,954,158,536 |
|
Accounts Receivable-Others |
10,537,617,306 |
|
Receivable-Reb |
1,632,443,764 |
|
Provision for Bad & Doubtful Debt |
(568,910,374) |
|
Advance to contractors & Suppliers
|
2,287,904,223 |
|
Advance to Employees |
1,338,283,257 |
|
Stock & Stores |
8,268,873,408 |
|
Deposits & Prepaid Expenses |
730,360,039 |
|
Total Current
Assets |
91,457,621,385 |
|
Total Property
& Assets |
312,230,694,284 |
|
Capital & Liabilities
|
|
|
Authorized
Capital |
120,000,000,000 |
|
Capital &
Reserve |
|
|
Paid Up Capital |
96,468,648,289 |
|
Net Surplus & Deficit |
111,241,126,281 |
|
Appraisal Surplus |
117,057,871,482 |
|
Grants |
4,850,418,860 |
|
Deposit Work Fund |
1,471,520,319 |
|
Liquidity Damage Reserve |
72,053,500 |
|
|
108,679,386,178 |
|
Long Term Liabilities |
|
|
Government Loan |
34,257,774,691 |
|
Budgetary Support As Subsidy from Government (Difference of Buying
& Selling Rate) |
29,004,900,000 |
|
Foreign Loan |
17,061,102,775 |
|
|
80,323,777,445 |
|
Medium Term
Liabilities |
|
|
Security Deposits(Consumers) |
2,887,554,605 |
|
GPF & CPF |
2,691,579,470 |
|
Gratuity & Pension Fund |
8,179,475,712 |
|
|
13,758,609,787 |
|
Current Liabilities |
|
|
Accounts Payable |
9,955,633,023 |
|
Security Deposits (Suppliers &
Contractors) |
542,782,510 |
|
Assets Insurance Fund |
255,000,000 |
|
Current Portion of Long Term Liability |
5,102,231,175 |
|
Debt Servicing Liabilities (Principal) |
48,190,065,402 |
|
Reimbursable Project Aid |
761,757,527 |
|
Debt Servicing Liabilities (Interest) |
43,324,663,212 |
|
Interest on Budgetary Support From
Government |
1,074,865,692 |
|
Other Liability |
237,847,829 |
|
|
109,444,846,370 |
|
Clearing Accounts |
14,074,504 |
|
Total Capital & Liabilities |
312,230,694,284 |
Income
Statement
For
the Year Ended 30th June 2010
|
Operating
Revenue |
2010 |
|
Energy Sales |
68,424,207,595 |
|
Other Operating Income |
2,733,763,861 |
|
|
71,157,971,456 |
|
Operating
Expenses |
|
|
Generation Expenses |
25,033,512,402 |
|
Electricity Purchase From IPP |
25,279,990,354 |
|
Electricity Purchase From Rental |
9,637,677,734 |
|
Electricity Purchase From Public Plant |
7,895,935,963 |
|
Transmission Expenses for Wheeling Charge |
1,139,551,398 |
|
Distribution Expenses |
4,690,498,978 |
|
Customer Accounts Expenses |
308,601,356 |
|
General & Administrative Expenses |
1,135,837,945 |
|
|
75,121,606,100 |
|
Operating Income/(Loss) |
3,963,634,644 |
|
Provision for Assets Insurance Fund |
15,000,000 |
|
Financing & Other Charges |
2,282,504,405 |
|
Net Income/(Loss)/Before Excil Rate Fluctuation |
6,261,139,049 |
|
Loss Due to Exchange Rate Fluctuation |
96,446,501 |
|
Net
Income/(Loss) for the Year |
(6,357,585,550) |
|
Retained
earnings |
|
|
Balance As on 1 July 2009 |
(100,780,954,252) |
|
Previous Years Adjustment |
4,102,586,478 |
|
Net Income/(Loss) for the Year |
(6,357,585,550) |
|
Balance As At June
30, 2010 |
111,241,126,281 |
|
Authorized
Capital |
Tk.120,000,000,000 |
|
Paid Up Capital |
Tk. 96,468,648,289 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
129.9557 |
|
U.S Dollar |
1 |
81.8000 |
|
European Euro |
1 |
110.0864 |
|
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 |
|
Amount |
Based On |
|
US$ 500,000.00 |
90 Days |
|
Employees |
8,000 app |
|
Office Area (Sq.
Ft) |
12,000 app (own) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
Unknown |
|
Power Generation
Types |
4 Coal 4 Furnace Oil 4 Gas 4 HSD 4 Hydro |
|
Total
distribution Lines |
2,09,932
km |
|
Total Consumers |
15,18,891 |
|
Certifications |
NIL |
|
Wholly Owned by |
Ministry of Power, Energy & Mineral
Resources, Government of The People’s Republic of Bangladesh |
|
Subsidiaries /
Affiliates |
4 Power Grid Company of
Bangladesh 4 Ashugonj Power Station Company
Limited 4 North West Power Generation
Company Limited 4
Electricity Generation Company of Bangladesh 4 West
Zone Power Distribution Company Limited |
|
Member |
NIL |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
UK Pound |
1 |
Rs.77.86 |
|
Euro |
1 |
Rs.66.06 |
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.