|
Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
BANGLADESH EXPORT IMPORT CO., LIMITED |
|
|
|
|
Registered Office : |
17 Dhanmondi R/A, Road No. 2, Dhaka-1205 |
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Country : |
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|
|
|
Financials (as on) : |
30.09.2012 |
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|
|
Year of Establishment : |
1970 |
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|
|
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Com. Reg. No.: |
C-3821 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Trader, Real Estate, Service Provider & Exporter of various items |
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|
|
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No. of Employees : |
1200 employees |
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 |
|||
|
Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Bangladesh - ECONOMIC OVERVIEW
The economy has grown 5-6% per year since 1996 despite political
instability, poor infrastructure, corruption, insufficient power supplies, and
slow implementation of economic reforms. Bangladesh remains a poor,
overpopulated, and inefficiently-governed nation. Although more than half of
GDP is generated through the service sector, 45% of Bangladeshis are employed
in the agriculture sector with rice as the single-most-important product.
Bangladesh's growth was resilient during the 2008-09 global financial crisis
and recession. Garment exports, totaling $12.3 billion in FY09 and remittances
from overseas Bangladeshis, totaling $11 billion in FY10, accounted for almost
12% of GDP.
|
Source : CIA |
|
Name |
Bangladesh Export Import Co., Limited |
|
Address |
17 Dhanmondi
R/A, Road No. 2, Dhaka-1205 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8611891,
8618220 |
|
Fax No |
880-2-8613470,
9615523 |
|
E-Mail |
|
|
Website |
|
|
Established |
1970 |
|
Company Registration No |
C-3821 |
|
Registration date |
15th March
1972 |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Trader, Real
Estate, Service Provider & Exporter
|
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Corporate Head Office |
17
Dhanmondi R/A, Road No. 2, Dhaka-1205 |
|
Telephone No |
880-2-8611891 (5
lines) |
|
Fax No |
880-2-8613470 |
|
E-Mail |
|
|
Website |
|
|
Operational Head Office |
19 Dhanmondi R/A, Road No. 7, Dhaka- 1205, Bangladesh |
|
Branch |
4 UK 4 USA |
|
Factory |
N/A |
|
Factory Tel No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
N/A |
|
Name |
Mr. Ahmed
Sohail Fasiur Rahman |
|
Designation |
Chairman &
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ahmed
Salman Fazlur Rahman |
|
Designation |
Vice Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Iqbal Ahmed |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. M A Qasem |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Osman Kaiser
Chowdhury |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abu Bakar
Siddique Rahman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Dr. Abdul Alim
Khan |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Asad Ullah, FCS |
|
Designation |
Executive
Director |
|
Nationality |
Bangladeshi |
|
Name |
Sponsor Directors
|
|
Share Percent |
18.36% |
|
Country |
Bangladesh |
|
|
|
|
Name |
Foreign
Investors |
|
Share Percent |
8.15% |
|
Country |
N/A |
|
|
|
|
Name |
General
Public |
|
Share Percent |
73.49% |
|
Country |
Bangladesh |
|
Line of Business |
Trader, Real
Estate, Service Provider & Exporter
|
|
Items Dealing In |
Various Items |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit Export: Against L/C |
|
Name |
Janata Bank
Limited |
|
Branch |
Local office
Branch |
|
Address |
1, Dikusha Commercial Area, Dhaka |
|
SWIFT |
JANBBDDHDCB |
|
|
|
|
Name |
Sonali Bank
Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
IFIC Bank
Limited |
|
Branch |
Dhanmondi Branch |
|
Address |
Dhanmondi, Dhaka |
|
SWIFT |
N/A |
Balance Sheet (Un-Audited)
As at 30
September, 2012
|
ASSETS |
2012 |
|
Non-Current
Assets |
28,742,620 |
|
Property, Plant and Equipment |
23,453,400 |
|
Long Term Investment |
4,687,320 |
|
Deferred Assets |
3,062 |
|
Other Long Term Assets |
598,838 |
|
Current Assets |
49,898,217 |
|
Inventories |
4,415,299 |
|
Debtors |
25,836,353 |
|
Advances, Deposits and Pre-payments |
19,433,701 |
|
Cash and Cash Equivalents |
212,864 |
|
TOTAL ASSETS |
78,640,837 |
|
EQUITY AND
LIABILITIES |
|
|
Shareholders' Equity |
46,829,523 |
|
Share Capital |
4,544,564 |
|
Capital Reserve |
23,463,494 |
|
Retained Earnings |
18,821,465 |
|
Non-Current
Liabilities |
5,235,342 |
|
Long Term Loans-Net off Current Maturity |
5,220,342 |
|
Security Deposit from Distributors |
15,000 |
|
Current
Liabilities and Provisions |
26,575,972 |
|
Short Term Loans |
8,107,791 |
|
Long Term Loans-Current Maturity |
3,397,160 |
|
Creditors and other payables |
15,071,021 |
|
TOT AL LIABILITIES AND SHAREHOLDERS’ EQUITY |
78,640,837 |
Profit & Loss Account (Un-Audited)
For the 3rd
Quarter ended 30 September 2012
|
Turnover and Other Income |
20,064,925 |
|
Cost of goods sold |
14,242,269 |
|
Gross Profit |
5,822,656 |
|
Operating Expenses: |
679,162 |
|
Administrative Expenses |
646,473 |
|
Selling and Distribution Expenses |
32,689 |
|
Profit from Operation |
5,143,494 |
|
Financial Cost |
2,162,678 |
|
Net Profit before Cont. to WPWF |
2,980,816 |
|
Contribution to Workers’ profit Participation/Welfare Fund |
141,944 |
|
Net Profit before Income Tax |
2,838,872 |
|
Income tax expense |
425,831 |
|
Net Profit after tax transferred to statement of changes in equity |
2,413,041 |
|
Earning per share of Tk. 10/= |
5.31 |
|
Number of shares (‘000’) used to compute EPS |
454,456 |
Auditors: M/s. M. J. Abedin & Co.,
National Plaza (3rd Floor)
109, Bir Uttam C. R. Datta Road,
Dhaka 1205
|
Authorized
Capital |
Tk.10000 million |
|
Paid Up Capital |
Tk.4545 million |
|
Each Share Value |
Tk.10.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
129.6828 |
|
U.S Dollar |
1 |
81.5000 |
|
European Euro |
1 |
104.4667 |
|
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 |
|
Employees |
1,200 |
|
Office Area (Sq.
Ft) |
5,875 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
6,975 sq.ft.(own) |
|
Range of Products |
4 Textile
& Apparels 4
Information Technology 4 Real Estate & Trading 4 Marine Foods |
|
Export Market |
4 Global |
|
Awards |
4 President’s Export Trophy |
|
Group Name |
4 Beximco Group |
|
Subsidiaries /
Affiliates |
4 Beximco
Fashions Limited 4
Bangladesh Pharmaceuticals Limited 4 Beximco Synthetics Limited 4 Shinepukur Holdings Limited 4 Beximco Fisheries Limited 4 Beximco Knitting Limited 4 Beximco Apparels Limited 4 Bangladesh On-Line Limited 4 Beximco Engineering Limited 4 Beximco Foods Limited 4 Beximco Media Limited 4 Sonali Aash Limited 4 Beximco Computer Limited 4 Beximco Systems Limited 4 I & I Services Limited 4 Padma Textile Mills Limited 4 Shinepukur Ceramics Limited |
|
Stock Code |
4 BEXIMCO |
|
Enlisted With |
4 Dhaka Stock Exchange Limited,
Dhaka 4 Chittagong Stock Exchange Limited,
Chittagong |
|
Member |
4 Dhaka Chamber
of Commerce & Industries, Dhaka 4 Bangladesh
Association of Pharmaceuticals, Dhaka |
|
Business Scale |
Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.