MIRA
INFORM REPORT
|
Report Date : |
07.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
FUCHS LUBRICANTS (BANGLADESH) LIMITED |
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Registered Office : |
37, Suhrawardy Avenue, Block-K, Suite-4/A, Baridhara,
Dhaka-1212 |
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Country : |
Bangladesh |
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Date of Incorporation : |
06.07.1998 |
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Com. Reg. No.: |
2-C3077 |
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Legal Form : |
Public (but not listed) |
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Line of Business : |
Trader & Distributor of Automotive Lubricating Oils & Greases
and Industria Lubricants |
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No. of Employees : |
120 |
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 |
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|
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Payment Behaviour : |
No Complaints |
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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, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BANGLADESH - ECONOMIC OVERVIEW
In real terms Bangladesh's economy has grown 5.8% 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 |
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
FUCHS LUBRICANTS
(BANGLADESH) LIMITED |
|
Registered office |
: |
37, Suhrawardy Avenue, Block-K, Suite-4/A, Baridhara, Dhaka-1212, Bangladesh |
|
Tel No |
: |
88-02-8858465, 8858559 |
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Fax No |
: |
Nil |
|
E-mail |
: |
- |
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Website |
: |
- |
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Date/ Year of Incorporation |
: |
06.07.1998 |
|
Registered No. |
: |
2-C3077 |
|
Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
|
Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
|
Issuing Authority |
: |
Registrar
of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
|
|
2011 |
Tk.135 Million |
Tk.48 million |
Tk.1.25 million |
|
|
2012 |
Tk.138 Million |
Tk.50 Million |
Tk.1.75 million |
|
|
Exchange Rate |
USD1-Tk. 77.8200 EUR 1- Tk. 100.2711 GBP 1- Tk.118.5354 AUD 1 - Tk.82.8563 JPY 1 - Tk.0.9286 |
CAD 1 - Tk.80.1887 SEK 1 - Tk.12.2870 SGD 1 - Tk.65.3045 CNH 1 - Tk.12.8399 |
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Sales Trend – Analysis: |
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2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
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- |
- |
- |
- |
- |
- |
- |
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FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Md. Nazrul Islam |
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Designation |
: |
Company Secretary & Manager ( Finance) |
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Contract No |
: |
88-01554311428 |
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Locations Details |
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Business Address |
: |
Block#A, BSCIC Industrial Estate, Sagarika Road, Chittagong,
Bangladesh |
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Tel No |
: |
88-031-750060, 750446 |
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E-mail |
: |
- |
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Fax No |
: |
88-031-750061 |
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Website |
: |
- |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
4500 |
Sq. ft. |
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Type of Office :
|
: Commercial Office Bldg. |
Ö |
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Semi-commercial office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory: |
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Address |
: |
Block#A, BSCIC Industrial Estate, Sagarika Road, Chittagong,
Bangladesh |
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Tel No |
: |
88-031-750060, 750446 |
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Fax No |
: |
88-031-750061 |
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Owned |
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Rented |
Ö |
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Leased |
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Area |
65000 |
Sq. ft. |
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Employee: |
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No. of
Employees |
In Office |
: |
25 |
In Factory |
: |
95 |
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In Branch: |
: |
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Total |
: |
120 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
|
Names of
Shareholders |
No. of Share |
|
Cap. Imam Anwar Hossain |
1000 |
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Mr. Bazlur Rahman Khan |
1000 |
|
Mr. Iman Shahed Hossain |
1000 |
|
Ms. Miria Hossain |
1000 |
DIRECTORS
|
Name |
Designation |
|
Mr. Iman Shahed Hossain |
Chairman |
|
Mr. Bazlur Rahman Khan |
Managing Director |
|
Ms. Miria Hossain |
Director |
MANAGEMENT
|
Name |
: |
Mr. Md. Nazrul Islam |
|
Email address |
: |
- |
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Nationality |
: |
Bangladeshi |
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Job Description |
: |
Company Secretary & Manager ( Finance) |
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Other details |
: |
- |
|
Name |
: |
Mr. Mozibul Islam |
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Email address |
: |
- |
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Nationality |
: |
Bangladeshi |
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Job Description |
: |
Corporate Manager |
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Other details |
: |
- |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
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Others |
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Range of
Products/Item Dealings In: |
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Products |
: |
Automotive Lubricating Oils & Greases and Industria Lubricants |
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Production
Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
|
30 days |
|
60 days |
|
90 days |
Ö |
|
days |
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Selling
Terms : |
L/C |
Ö |
Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
DETAILED DATA
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local market |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
China, India, Germany |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
|
Authorized
Capital |
: |
Tk. 40,000,000 |
||||||
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Paid-up
Capital |
: |
40,0000 |
No.
of Shares |
: |
4000 |
Share
Value |
: |
Tk.100.00Each |
|
Main
Assets |
: |
Tk.50 Million |
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FINANCIAL STATEMENT- DETAILED
The subject company don’t submit update financial figure to local
registry office.
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
Sister Concerns |
: |
Nil |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
N/A |
BANKING
|
Bank Name |
: |
National credit & Commerce Bank Ltd. |
|
Bank Address |
: |
Gulshan Branch, 85 Gulshan Avenue, gulshan, Dhaka Tel: 88-02-8827743, 9880221, 8818093, 9899773, 8831346 Fax: 88-02-8818093 |
REPUTATION
The subject company product is good
reputation in local market.
ADVERSE DATA MONITORING
|
Dishonored
Checks |
: |
No Record Found |
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Debt |
|
No Record Found |
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Litigation |
: |
Clear |
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Performance
Defaults |
: |
No Record Found |
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Adverse Local
Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE VISIT COMMENTARY
Our representative visited the subject company registered address which
is situated at 37, Suhrawardy Avenue, Block-K, Suite-4/A, Baridhara,
Dhaka-1212, Bangladesh. It is situated at fully residential area.
GENERAL COMMENTS
Established in 1998, the subject is mainly engaged in producing &
selling Automotive Lubricating Oils & Greases and Industrial Lubricants.
Having been in operation for several years, the subject maintains accepted
business volume.
Reputation in the market, as well as its financial condition, we
recommended that Credit can proceed normally in Moderate amount
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.53 |
|
|
1 |
Rs.94.37 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.