|
Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MEGHNA ENGINEERING WORKS LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1997 |
|
|
|
|
Com. Reg. No.: |
2-C1490A |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer and Seller MS Billet |
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|
|
|
No. of Employees : |
380 |
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 : |
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 |
Meghna Engineering Works Limited |
|
Address |
Ali
Mansion, 1173/1207 Sadarghat Road, Chittagong |
|
Country |
Bangladesh |
|
Telephone No |
880-31-613282, 616402, 613759,
637758, 635380, 635382 |
|
Fax No |
880-31-610101 |
|
E-Mail |
|
|
Website |
www.bsrm.com |
|
Established |
1997 |
|
Company Registration No |
2-C1490A |
|
Registration date |
July 1997 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Chittagong |
|
Business Type |
Manufacturer and
Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
|
Head Office |
Ali
Mansion, 1173/1207 Sadarghat Road, Chittagong |
|
Telephone No |
880-31-613282, 616402, 613759,
637758, 635380, 635382 |
|
Fax No |
880-31-610101 |
|
E-Mail |
|
|
Website |
www.bsrm.com |
|
Branch |
Mahbub
Castle (2nd Floor) 35, Purana Paltan Line Dhaka-1000 880-2-8313135,
9358135,9343174 880-2-8312905 Email:
bsrm@bangla.net, bsrm@aitlbd.net Samad
Mansion, Mendibag, Upa-Shahar, Sylhet 880-821-721239. Mobile: 01714-080514 Email: bsrm@sol-bd.com Mohammad Ali Plaza Shantahar Road, Charmatha, Bogra, 880-51-60792, Mobile: 01711-795148 E-mail: bsrm@bttb.net.bd Plot No. C-7, Road No.4, Shiromoni Industrial Area, Badamtali, Khulna, 880-41- 785303, Mobile: 01714 031110 E-Mail.bsrmkln@khulna.bangl.net Chandrina Super Market Airport Road (Near to EPZ Main Gate), Comilla, Tel: 081-71988. Mobile:01714-080544 E-Mail: bsrmcml@bttb.net.bd 4-6, Monowara Complex 100, Shamsher Nagar Road, Beside Shah Mostafa College Mouluvi Bazar 880-861-62986 Mobile:01711-322067 |
|
Factory |
Fouzderhat
Industrial Area, Dhaka Trunk Road, Chittagong, |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Fouzderhat
Industrial Area, Dhaka Trunk Road, Chittagong, |
|
Name |
Mr. Ali Hussain
Akbar Ali |
|
Designation |
Chairman & Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Aameir Ali
Hussain |
|
Designation |
Dy. Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zoheir Taher
Ali |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ali Asghar
Africawala |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Hadi Akbar
Ali |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Ali Hussain
Akbar Ali |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Aameir Ali
Hussain |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zoheir Taher
Ali |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ali Asghar
Africawala |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Hadi Akbar
Ali |
|
Share Percent |
10% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer and
Seller |
|
Items Dealing In |
MS Billet |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Production
Capacity |
120,000 m/tons
per year |
|
Last Year
Production |
120,000 m/tons |
|
Name |
Habib Bank
Limited |
|
Branch |
Laldighi East
Branch |
|
Address |
Laldighi, Chittagong |
|
SWIFT |
N/A |
|
|
|
|
Name |
Agrani Bank
Limited |
|
Branch |
Laldighi Branch |
|
Address |
Laldighi, Chittagong |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.26 billion |
Tk.25 billion |
Tk.25 billion |
|
Turnover |
Tk.311.3 billion |
Tk.310.7 billion |
Tk.310 billion |
|
Liability |
Tk. 3 billion |
Tk.4.5 billion |
Tk.5 billion |
|
Assets |
Tk.57 billion |
Tk.55 billion |
Tk.55 billion |
* The subject has flatly refused to reveal any financial information. Whatever
shown here are collected unofficially and as such its authenticity could not be
verified.
|
Authorized
Capital |
Tk.5 billion |
|
Paid Up Capital |
Tk.500, 000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
132.5740 |
|
U.S Dollar |
1 |
81.7500 |
|
European Euro |
1 |
106.6838 |
|
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 |
380 |
|
Office Area (Sq.
Ft) |
1,500 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
8 acres of lands (own) |
|
Warehouse Area
(Sq. Ft) |
10,000 sq.ft.(own) |
|
Range of
Products |
4 Gr. – 40 for Plain Bars, Angle,
Channel, Tor Steel |
|
Raw Materials
From |
4 Indonesia 4 Turkey 4 China 4 India |
|
Major Clients |
4 Bangladesh Steel re-Rolling Mills Limited (BSRM) |
|
Certifications |
NIL |
|
Group Name |
4 BSRM Group |
|
Subsidiaries /
Affiliates |
4 Bangladesh Steel Re-Rolling Mills Limited 4 Karnafully Engineering Works Limited 4 BSRM Wires Limited 4 BSRM Re-Cycling Industries Ltd. 4 BSRM Iron & Steels Co Ltd. 4 Chittagong Power Company Limited 4 H. Akberali & Co Ltd. 4 Bangladesh Steels Limited 4 East Bengal Trading & Industrial Corporation Limited 4 BSRM Ispat Limited 4 BSRM Steel Mills Limited 4 BSRM Logistics Limited 4 South Asia Securities Limited |
|
Member |
4 Bangladesh
Steel Re-Rolling Mills Association, Chittagong 4 Chittagong
Chamber of Commerce & Industries, Chittagong |
|
Business Scale |
Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
|
Name |
Mr. Sujit |
|
Designation |
Accounts Manager |
|
Tel |
880-31-613282 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.86.43 |
|
Euro |
1 |
Rs.68.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.