MIRA INFORM REPORT

Report Date :

28.06.2012

IDENTIFICATION DETAILS

Name :	ATLAS COPCO BANGLADESH LIMITED
Registered Office :	Level 13 (N-E Portion), Unique Trade Centre (UTC) 8, Panthapath, Kawran Bazar, Dhaka-1215
Country :	Bangladesh
Financials (as on) :	31.12.2010
Date of Incorporation :	2008
Com. Reg. No.:	C-70451
Legal Form :	Private Limited
Line of Business :	Importer & Distributor of Compressor
No. of Employees :	420

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

Status :	Satisfactory
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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
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	Atlas Copco Bangladesh Limited
Address	Level 13 (N-E Portion), Unique Trade Centre (UTC) 8, Panthapath, Kawran Bazar, Dhaka-1215
Country	Bangladesh
Telephone No	880-2-9116709, 9116529
Fax No	880-2-9117016
E-Mail	info@atlascopco.com
Website	www.atlascopco.com
Established	2008
Company Registration No	C-70451
Registration date	15^th May 2008
Legal Status	Private Limited
Issuing Authority	The Register of Joint Stock Companies & Firms, Dhaka
Business Type	Importer & Distributor
Status	Satisfactory
Payment Behavior	No complaints have been heard regarding payments from local suppliers or banks.

LOCATIONS

Head Office	Sickla Industrievaeg 3, Nacka, 131 34, Sweden
Telephone No	+46-8-7438000
Fax No	+46-8-6449045
E-Mail	info@atlascopco.com
Website	www.atlascopco.com
Branch	NIL
Factory	N/A
Factory Telephone No	N/A
Factory Fax No	N/A
Warehouse	Level 13 (N-E Portion), Unique Trade Centre (UTC) 8, Panthapath, Kawran Bazar, Dhaka-1215

DIRECTORS

Name	Mr. Sune Carlsson
Designation	Chairman
Nationality	Swedish
Name	Mr. Jacob Wallenberg
Designation	Vice-Chairman
Nationality	Swedish
Name	Mr. Ronnie Leten
Designation	President and Chief Executive Officer
Nationality	Swedish
Name	Ms. Ulla Litzén
Designation	Director
Nationality	Swedish
Name	Mr. Anders Ullberg
Designation	Director
Nationality	Swedish
Name	Mr. Staffan Bohman
Designation	Director
Nationality	Swedish
Name	Ms. Margareth Øvrum
Designation	Director
Nationality	Swedish
Name	Mr. Johan Forssell
Designation	Director
Nationality	Swedish
Name	Ms. Gunilla Nordström
Designation	Director
Nationality	Swedish

sHAREHOLDERS

Name	Atlas Copco Group
Share Percent	100%
Country	Sweden

BUSINESS DETAILS

Line of Business	Importer & Distributor
Items Dealing In	Compressor
Terms of Purchase	Import: Against L/C
Terms of Sale	Local: Cash or Credit

BANKERS

Name	Standard Chartered Bank
Branch	Gulshan Branch
Address	Gulshan, Dhaka
SWIFT	N/A

FINANCIAL INFORMATION

Parent Company Balance Sheet

As At 31 December 2010

Currency: MSEK

ASSETS	2010
Non-current assets
Intangible assets	13 464
Rental equipment	1 843
Other property, plant and equipment	5 702
Investments in associates	108
Other financial assets	2 701
Other receivables	5
Deferred tax assets	1 309
Total non-current assets	25 132
Current assets
Inventories	12 939
Trade receivables	13 318
Income tax receivables	407
Other receivables	3 749
Other financial assets	1 734
Cash and cash equivalents	14 264
Assets classified as held for sale	79
Total current assets	46 490
TOTAL ASSETS	71 622
EQUITY
Share capital	786
Other paid-in capital	5 312
Reserves	935
Retained earnings	22 108
Total equity attributable to equity holders of the parent	29 141
Minority interest	180
TOTAL EQUITY	29 321
LIABILITIES
Non-current liabilities
Interest-bearing loans and borrowings	19 615
Post-employment benefits	1 578
Other liabilities	187
Provisions	855
Deferred tax liabilities	1 167
Total non-current liabilities	23 402
Current liabilities
Interest-bearing loans and borrowings	499
Trade payables	6 398
Income tax liabilities	1 197
Other liabilities	9 530
Provisions	1 275
Total current liabilities	18 899
TOTAL EQUITY AND LIABILITIES	71 622

Parent Company Income Statement

For the Year Ended 31 December 2010

Currency: MSEK

	2010
Revenues	69 875
Cost of sales	-43 468
Gross profit	26 407
Marketing expenses	-6 914
Administrative expenses	-4 173
Research and development costs	-1 517
Other income from operations	192
Other expenses from operations	-93
Share of profit of associates	13
Operating profit	13 915
Financial income	423
Financial expenses	-843
Net financial items	-420
Profit before tax	13 495
Income tax expense	-3 551
Profit from continuing operations	9 944
Profit from discontinued operations, net of tax	-------
Profit for the period	9 944

Note: No latest financials are available.

CAPITAL STRUCTURE

Authorized Capital	Tk.50 million
Paid Up Capital	Tk.5 million
Each Share Value	Tk.100.00

CURRENCY EXCHANGE RATE

Currency	Unit	Bangladeshi Taka (BDT)
Great Britain Pound	1	128.6197
U.S Dollar	1	81.8400
European Euro	1	103.9695

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

GENERAL INFORMATION

Employees	420
Office Area (Sq. Ft)	2,500 sq.ft (rented)
Factory Area (Sq. Ft)	N/A
Warehouse Area (Sq. Ft)	10,500 sq.ft.(own)
Range of Products	4 Compressed Natural Gas (CNG) Compressors
Major Clients	4 Local Consumers
Certifications	NIL
Parent Company	4 Atlas Copco Group, Sweden
Subsidiaries / Affiliates	NIL
Member	4 Dhaka Chamber of Commerce & Industries, Dhaka

BUSINESS TREND & PROSPECT

Business Scale	Fairly Large
Business Trend	Growing
Management Capability	Good
Reputation	Good

Information Decline

Name	Mr. Syed Rasul
Designation	Country Manager
Tel No	(008801730092222)
Email	Syed.rasul@bd.atlascopco.com

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.57.21
UK Pound	1	Rs.89.42
Euro	1	Rs.71.46

INFORMATION DETAILS

Report Prepared by :	PDT
Calling	JML

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.