MIRA INFORM REPORT
|
Report Date : |
22.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
BRAC |
|
|
|
|
Registered Office : |
BRAC Centre, 75 Mohakhali, Dhaka-1212 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
17.09.1972 |
|
|
|
|
Com. Reg. No.: |
S-3695A |
|
|
|
|
Legal Form : |
Society (Under The Societies Registration Act, 1860) |
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|
|
Line of Business : |
Development Works |
|
|
|
|
No. of Employees : |
119,520 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 |
|
Payment Behaviour : |
Regular |
|
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 – 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 |
BRAC |
|
Address |
BRAC Centre, 75 Mohakhali, Dhaka-1212 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9881265,
8824180-7, Ext: 3155, 3158, 3107, 3161 |
|
Fax No |
880-2-8823542 |
|
E-Mail |
|
|
Website |
|
|
Established |
1972 |
|
Company Registration No |
S-3695A |
|
Registration date |
17th September 1972 |
|
Legal Status |
Society
(Under The Societies Registration Act, 1860)
|
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Non-Government Organization |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints
have been heard regarding payments from local suppliers or banks. |
|
Head Office |
BRAC Centre, 75 Mohakhali, Dhaka-1212 |
|
Telephone No |
880-2-9881265,
8824180-7, Ext: 3155, 3158, 3107, 3161 |
|
Fax No |
880-2-8823542 |
|
E-Mail |
|
|
Website |
|
|
Branch |
UK Penelope Mawson,
Director of Development and Communications Waterbridge House (2nd
floor) 32-36 Loman
Street London SE1 0EH UK Tel/fax: 00 44(0) 20 7922 7722 Cell: 00 44 (0)7940 705 097 E-mail: penelopem@bracuk.net USA Susan Davis, President & CEO 110 William Street, 29th Floor New York, NY 10038 USA Tel: +1 212 808 5615 Fax: +1 212 808 0203 E-mail:Susan
Davis, President & CEO,susan@bracusa.org Santhosh Ramdoss, Program Manager Manisha Bhinge, Program Manager Scott Macmillan, Communications Manager Stacey Clark, Program Manager - Finance Afghanistan Khondoker Ariful Islam Country Representative House # 472, Lane # 2 Hazi Mir Ahmed
Street Baharistan, Karte Parwan Kabul Afghanistan Cell: +93 (0) 700288300 Email: ariful.ki@brac.net
Haiti Rakibul Bari Khan Country Representative House no 34 Fragneau city street (in
front of ESPOIR Hospital) Delmas - 75 Port-au-Prince Haiti Cell: 00509 38881631 E-mail: brac.haiti@gmail.com Liberia M. A. Salam Country Representative Allison Street, Corina
Park Congo Town P.O. Box 2549, Monrovia Liberia Cell: +231 886 589 539 E-mail: brac.liberia@gmail.com
Pakistan Muhammed Faridur Rahman Country Representative House # 397, Street # 13, Sector # F-10/2 Islamabad Pakistan Cell: 0092 3345505423 Tel: (0092)-051-221351, 0512290318 E-mail: bracpakistan@brac.net The
Philippines No. 1, Manara
Street Rosary Heights 10, Cotabato City The Philippines Sierra
Leone Tapan Kumar Karmaker Country Representative 23 Old Lumley Road, Off Spur Road,
Wilberforce, Freetown, Sierra Leone Mobile: +232 77 553 501 Email: tapan.kk@brac.net
Southern
Sudan MD. Abu Bakar Siddique Country Representative Plot # 31, Block L 14 Atlabara, Juba Southern Sudan Cell: +256(0)477 218022, +249(0)908246626 E-mail: siddique261@gmail.com Sri
Lanka Sagarika Indu Country Representative 197/1, Templers
Road, Mount Lavinia Sri Lanka Tel: +94-11-4853063 Cell: +94 (0) 772997276 E-mail: bracsrilanka@brac.net Tanzania Gunendu K. Roy Country Representative Plot # 2329, Block H, Mbezi Beach P.O. Box 105213 Tanzania Tel: +255 22 264 7280 Cell: +255 (0) 78 666 2206 E-mail: bractanzania@gmail.com
Uganda Abul Kashem Mozumder Country Representative Plot -90, Busingiri
Zone Off Entebbe Road Nyanam, Kampala Uganda Tel: +256 (0) 414 270978 Cell: +256 (0) 702063971 E-mail: mozumder.ak@brac.net |
|
Factory |
N/A |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
N/A |
|
Name |
Sir Fazle Hasan
Abed |
|
Designation |
Founder & Chairperson |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Taherunnessa Abdullah |
|
Designation |
Member |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Martha Alter Chen |
|
Designation |
Member |
|
Nationality |
UNKNOWN |
|
|
|
|
Name |
Mr. Faruq A. Choudhury |
|
Designation |
Member |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Luva Nahid Choudhury |
|
Designation |
Member |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Kazi Aminul Huque |
|
Designation |
Member |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Syed Humayun Kabir |
|
Designation |
Member |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Latifur Rahman |
|
Designation |
Member |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Rokia A. Rahman |
|
Designation |
Member |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mushtaque Chowdhury |
|
Designation |
Member |
|
Nationality |
Bangladeshi |
|
Line of Business |
Development
Works |
|
Items Dealing In |
N/A |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Name |
BRAC Bank Limited |
|
Branch |
Mohakhali Branch |
|
Address |
75 Mohakhali,
Dhaka |
|
SWIFT |
N/A |
Balance
Sheet
At
31 December 2011
Currency:
Taka
|
ASSETS |
2011 |
|
Cash in hand and at banks |
10,726,197,131 |
|
Advance, deposits and prepayments |
2,257,580,907 |
|
Inventories |
3,109,682,789 |
|
Grants and accounts receivable |
1,522,043,694 |
|
Microfinance loans |
48,399,046,115 |
|
Motorcycle loans |
743,562,017 |
|
Investments in securities and others |
235,000,000 |
|
Investments in related undertakings |
7,399,808,731 |
|
Property, plant and equipment |
7,838,616,600 |
|
TOTAL ASSETS |
82,231,537,984 |
|
LIABILITIES AND
NET ASSETS |
|
|
Liabilities: |
|
|
Liabilities for expenses and materials |
4,029,999,595 |
|
Bank overdrafts |
5,120,907,332 |
|
Term loans |
11,165,623,568 |
|
Members’ savings deposits |
22,364,367,269 |
|
Members project & current account |
16,695,598 |
|
Grants received in advance account |
5,762,859,156 |
|
Deferred income |
216,957,532 |
|
Other long term liabilities |
6,374,465,005 |
|
Provision for taxation |
640,941,030 |
|
Total
Liabilities |
55,692,816,085 |
|
Net Assets: |
|
|
Capital fund |
|
|
unrestricted |
25,679,805,212 |
|
temporarily restricted |
858,916,687 |
|
|
26,538,721,899 |
|
TOTAL
LIABILITIES AND NET ASSETS |
82,231,537,984 |
Statement
of Income and Expenditure
For
the year ended 31 December 2011
Currency:
Taka
|
Income |
2011 |
|
Donor grants |
10,046,780,917 |
|
Revenue from: |
|
|
Income Generating Projects |
7,342,675,873 |
|
Program Support Enterprises |
3,372,806,327 |
|
Service charges on microfinance loans |
11,851,912,448 |
|
Interest on bank accounts and fixed deposits |
365,830,024 |
|
Investment income |
545,994,809 |
|
Other income |
518,711,087 |
|
Income from House Property |
90,861,598 |
|
Total income |
34,135,573,083 |
|
Expenditure |
|
|
Income Generating Projects |
6,353,877,329 |
|
Program Support Enterprises |
3,157,743,553 |
|
House Property |
80,197,303 |
|
Education Programme |
3,434,005,024 |
|
Ultra Poor Programme |
2,137,337,116 |
|
Community Empowerment Programme |
161,300,304 |
|
Human Rights and Legal Services |
136,546,758 |
|
Health Programme |
2,741,737,287 |
|
Water, Sanitation and Hygienic Programme |
829,577,150 |
|
Gender, Justice and Diversity Programme |
99,839,611 |
|
Micro Finance Programme |
10,497,901,219 |
|
Food Security and Climate Change |
475,991,318 |
|
Other Development Projects |
404,082,600 |
|
Grants |
306,040,276 |
|
Total
expenditure |
30,816,176,848 |
|
Surplus of income over expenditure before taxation |
3,319,396,235 |
|
Taxation |
(150,000,000) |
|
Net surplus for
the year |
3,169,396,235 |
|
Authorized
Capital |
N/A |
|
Paid Up Capital |
N/A |
|
Each Share Value |
N/A |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
131.1783 |
|
U.S Dollar |
1 |
81.2300 |
|
European Euro |
1 |
106.5981 |
|
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 |
119,520 |
|
Office Area (Sq.
Ft) |
4,000 (rented) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
N/A |
|
Range of
Development Works |
4 Advocacy for
Social Changes 4 Agriculture
& Food Security 4 Economic
Development 4 Education 4 Community
Empowerment 4 Environment 4 Gender Justice
& Diversity 4 Health 4 Human Rights &
Legal Aid Services 4 Road Safety 4 Safe Migration 4 Social
Enterprises 4 Socially
Responsible Investment 4 Technical
Assistance 4 Training |
|
Export
Market |
N/A |
|
Awards |
4 The Conrad N. Hilton Humanitarian
Prize, 2008 4 Independence Award (Shadhinata Puroshkar), 2007 4 Gates Award for Global Health,
2004 Bill and Melinda Gates Foundation[17] 4 CGAP Financial Transparency
Award, 2005 & 2006[18] |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
4 BRAC University 4 BRAC Bank Ltd 4 BRAC Industries
Limited 4 BRAC BD Mail
Network Ltd. 4 BRAC Services
Ltd. 4 BRAC Karnafuli Tea Company Ltd. 4 BRAC Kaiyachara Tea Company Ltd. 4 BRAC Banshkhali Tea Company Ltd. 4 BRAC Kodala Tea Company Ltd. 4 Bangladesh
Netting Factory Ltd. 4 BRAC Assets
Management Company Ltd. 4 bracNet 4 Documenta Ltd 4 Delta BRAC Housing Finance Corp
Ltd |
|
Member |
4 Dhaka Chamber of Commerce &
Industry, Dhaka |
|
Business Scale |
Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.72 |
|
UK Pound |
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.70.17 |
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.