MIRA INFORM REPORT
|
Report Date : |
11.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
EASTERN CABLES LIMITED |
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|
|
|
Registered Office : |
BSEC Bhaban, 102,
Kazi Nazrul Islam Avenue, Dhaka 1215 |
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|
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|
Country : |
Bangladesh |
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|
|
|
Financials (as on) : |
31.03.2011 |
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Year of Establishment : |
1967 |
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Com. Reg. No.: |
C-17081 |
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|
Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacturing & Distributing of Cables and Conductors |
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|
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No. of Employees
: |
9,000 app |
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$ 100,000.00 |
|
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 |
Eastern Cables
Limited |
|
Address |
North
Patenga, Chittagong-4204 |
|
Country |
Bangladesh |
|
Telephone No |
880-31-740464,
740967, 740923, 740870, 502501 |
|
Fax No |
880-31-740503 |
|
E-Mail |
|
|
Website |
|
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Established |
1967 |
|
Commercial
Production From |
1st
March 1971 |
|
Company Registration No |
C-17081 |
|
Registration date |
2nd April 1982 |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies &
Firms, Dhaka |
|
Business Type |
Manufacturing
& Distributing |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
LOCATIONS
|
Head Office |
BSEC Bhaban, 102, Kazi Nazrul Islam Avenue, Dhaka 1215, Bangladesh |
|
Telephone No |
880-2-8114616, 8112808 |
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Fax No |
880-2-8112846 |
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E-Mail |
|
|
Website |
|
|
Sales & Display Centre |
95-96 Baitul Mukarram, Dhaka-100 Tel No: 880-2-9552680 |
|
Factory |
North
Patenga, Chittagong-4204 |
|
Factory Telephone No |
880-31-740464,
740967, 740923, 740870, 502501 |
|
Factory Fax No |
880-31-740503 |
|
Warehouse |
North Patenga, Chittagong-4204 |
DIRECTORS
|
Name |
Mr. Mohammad Abu Hafiz |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Engr. Md. Mizbahur
Rahman |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. A.S. Shahudul Huque
Bulbul |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zia Hasan Ibn
Ahamed |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Bangladesh Steel & Engineering Corporation |
|
Share Percent |
51% |
|
Country |
Bangladesh |
|
|
|
|
Name |
General Public |
|
Share Percent |
49% |
|
Country |
Bangladesh |
BUSINESS DETAILS
|
Line of Business |
Manufacturing
& Distributing |
|
Items Dealing In |
Cables And Conductors |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
BANKERS
|
Name |
Sonali Bank Limited |
|
Branch |
Local Principal
Office Branch |
|
Address |
Motijheel Commercial Area, Dhaka |
|
SWIFT |
BSONBDDHBWP |
|
|
|
|
Name |
Janata Bank
Limited |
|
Branch |
Dilkusha
Corporate Branch |
|
Address |
1, Dilkusha Commercial Area, Dhaka-1000 |
|
SWIFT |
JANBBDDHDCB |
FINANCIAL INFORMATION
Balance Sheet
As At 31 March 2011
Currency: Taka (In Lac)
|
|
2011 |
|
PROPERTIES &
ASSETS : |
|
|
Fixed Assets(W.D.V.) |
658.84 |
|
Stock & Stores |
2695.40 |
|
Cash & Bank |
331.45 |
|
Other Current Assets |
8051.31 |
|
Total |
11737.00 |
|
CAPITAL &
LIABILITIES: |
|
|
Issued & Paid up Capital |
2400.00 |
|
Reserve & Surplus |
3656.88 |
|
Long Term Loans & Liabilities |
831.36 |
|
Secured Over Draft/Cash Credit |
1208.73 |
|
Current Liabilities |
3640.03 |
|
TOTAL |
11737.00 |
Income
Statement
For
the Third Quarter Ended 31 March 2011
Currency:
Taka (In Lac)
|
|
2011 |
|
Net Sale |
6738.16 |
|
Less: Cost of Goods sold |
5672.94 |
|
Gross Profit/(loss) |
1065.22 |
|
Less: Adm., Selling & Financial Expenses |
611.75 |
|
Net Operating Profit /(loss) |
453.47 |
|
Add: Non Operating Income |
13.51 |
|
Net Profit Before Tax |
466.98 |
|
Less: Provision for Income Tax |
(128.42) |
|
Net Profit
/(loss) after Tax |
338.56 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
128.2402 |
|
U.S Dollar |
1 |
82.1000 |
|
European Euro |
1 |
106.2702 |
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$ 100,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
9,000 app |
|
Office Area (Sq.
Ft) |
12,000 app (own) |
|
Factory Area
(Sq. Ft) |
60,000 app (own) |
|
Warehouse Area
(Sq. Ft) |
10,000 app (own) |
|
Range of
Products |
4 Domestic Cables 4 L.T. Power Cables 4 H.T. Power Cables 4 All Aluminum Conductor 4 Aluminum Conductor Steel
Reinforced |
|
Certifications |
4 ISO 9001:2000 |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
4 Atlas Bangladesh Limited 4 Pragoti Industries Limited 4 Chittagong Dry Dock Limited 4 National Tubes Limited 4 GEM Company Limited 4 Gazi Wires Limited 4 Eastern Tubes Limited 4 Bangladesh Blade Factory Limited |
|
Enlisted With |
4 Dhaka Stock Exchange Limited 4 Chittagong Stock Exchange Limited |
|
Member |
4 Bangladesh Electrical Association,
Dhaka 4 Chittagong Chamber of Commerce and
Industry, Chittagong |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.23 |
|
UK Pound |
1 |
Rs.80.84 |
|
Euro |
1 |
Rs.66.79 |
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.