MIRA
INFORM REPORT
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Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
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Name : |
BRIDGE CORPORATION LTD |
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Registered Office : |
TMC Building (5th floor), 52 New Eskaton Road,Dhaka 1000 |
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Country : |
Bangladesh |
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Date of Incorporation : |
24.10.2000 |
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Com. Reg. No.: |
C-41598 |
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Legal Form : |
Private Co
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Line of Business : |
Trader, Indentor and Distributor of Machinery for Food Processing Project,
Project Pharmaceutical Projects, Edible oil refining/processing. |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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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.
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Source
: CIA |
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
BRIDGE CORPORATION LTD |
|
Registered office |
: |
TMC Building (5th floor), 52 New Eskaton Road,Dhaka 1000, Bangladesh |
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Tel No |
: |
88-02-8351613 |
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Fax No |
: |
88-02-8316676 |
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E-mail |
: |
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Website |
: |
www.bridge.com.bd |
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Date/ Year of Incorporation |
: |
24.10.2000 |
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Registered No. |
: |
C-41598 |
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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)
________________ |
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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.27 Million |
Tk.9.5 Crore |
Tk.1.45 million |
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2012 |
Tk.32 Million |
Tk.10 Crore |
Tk.1.50 Million |
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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. Zainal Abdin |
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Designation |
: |
Admin Officer |
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Contract No |
: |
- |
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Locations Details |
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Business Address |
: |
TMC Building (5th floor), 52 New Eskaton Road, Dhaka 1000, Bangladesh |
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Tel No |
: |
88-02-8351613 |
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E-mail |
: |
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Fax No |
: |
88-02-8316676 |
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Website |
: |
www.bridge.com.bd |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
650 |
Sq. ft. |
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Type of Office :
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: 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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Warehouse: |
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Address |
: |
TMC Building (5th floor), 52 New Eskaton Road, Dhaka 1000, Bangladesh |
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Tel No |
: |
88-02-8351613 |
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Fax No |
: |
88-02-8316676 |
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Owned |
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Rented |
Ö |
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Leased |
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Area |
1200 |
Sq. ft. |
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Employee: |
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No. of
Employees |
In Office |
: |
8 |
In Factory |
: |
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In Branch: |
: |
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Total |
: |
8 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of
Shareholders |
No. of Share |
|
Rahmatullah Khan |
39710 |
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Mr. Zalil Khan |
400 |
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Ms. Khodeza Begum |
400 |
DIRECTORS
|
Name |
Designation |
|
Rahmatullah Khan |
Managing Director |
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Mr. Zalil Khan |
Director |
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Ms. Khodeza Begum |
Director |
MANAGEMENT
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Name |
: |
Mr. Zainal Abdin |
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Email address |
: |
Nil |
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Nationality |
: |
Bangladshi |
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Job Description |
: |
Admin Officer |
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Other details |
: |
- |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
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Trader |
Ö |
Indentor |
Ö |
Distributor |
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Exporter |
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Importer |
Ö |
Others |
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Range of
Products/Item Dealings In: |
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Products |
: |
Machinery for Food Processing Project, Project Pharmaceutical
Projects, Edible oil refining/processing.
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Production
Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
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Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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|
days |
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Selling
Terms : |
L/C |
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Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
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60 days |
|
90 days |
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|
days |
DETAILED DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local Small Industry |
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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 |
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Brand Name |
: |
N/A |
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Certified |
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N/A |
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Auditors |
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N/A |
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Operation Status |
: |
Active |
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Member |
: |
Bangladesh Indenting Agents’
Association |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk.10 Million |
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Paid-up
Capital |
: |
Tk.4051000 |
No.
of Shares |
: |
40510 |
Share Value |
: |
Tk.100.00Each |
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Main
Assets |
: |
Tk.10 Crore |
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FINANCIAL STATEMENT- DETAILED
The subject company don’t submit update financial figure to local
registry office.
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
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Sister Concerns |
: |
Nil |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
N/A |
BANKING
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Bank Name |
: |
Standard Chartered Bank |
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Bank Address |
: |
Gulshan Had Branch, 67, Gulshan Avenue, Bangladesh Account No. 01-7515200-01 Swift: SCBLBDDXXXX |
REPUTATION
The subject company product has good reputation to local market
ADVERSE DATA MONITORING
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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 there Head office which is situated at TMC
Building (5th floor), 52 New Eskaton Road, Dhaka 1000, Bangladesh. Its Head
office is situated at fully residential area.
GENERAL COMMENTS
Subject company is considered large sized in its line with Below Avrage
financial conditions. We recommend that Credit should
be extended under guarantee in C.O.D to small amount.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.51 |
|
|
1 |
Rs.94.98 |
|
Euro |
1 |
Rs.81.62 |
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 |
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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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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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.