|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
PHP STEELS LIMITED |
|
|
|
|
Registered Office : |
PHP House, (2nd Floor), 31, Agrabad C/A, Chittagong-4100 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
15.02.2000 |
|
|
|
|
Com. Reg. No.: |
CH-3556 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
·
Manufacturer,
Exporter & Distributor of cr
Coils & Sheets Subject also produces High quality Cold Rolled Steel
Strips (CR Coils) and Closely Annealed Skin Passed CRCA Strips in form of
coils and sheets |
|
|
|
|
No. of Employees : |
700 |
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 |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
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 |
IDENTIFICATION DETAILS
|
||
|
Correct
company Name |
: |
PHP
Steels Limited |
|
Head
Office |
: |
PHP House, (2nd Floor), 31, Agrabad C/A,
Chittagong-4100, Bangladesh. |
|
Tel
No |
: |
880-31-2511037- 41, 01914326683 |
|
Fax
No |
: |
880-31- 726982 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/ Year of Incorporation |
: |
CH-3556 |
|
Incorporation No. |
: |
15-02-2000 |
|
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) |
|
Year |
Turnover/ Sales |
Assets |
Income |
|
July’ 11~June’ 12 |
Tk. 144 Million |
Tk. 5, 554.19
million |
Tk. 40.50 Million |
|
July’ 12~June’ 13 |
Tk. 245 Million |
Tk. 5650.40Million |
Tk. 52.60 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 |
|
Information Parted By
|
|
||||
|
|
|
|
|
||
|
Name |
: |
Mr. Md. M.E
Musthafa. |
|
||
|
Designation |
: |
Assistant General
Manager. |
|
||
|
Contract No |
: |
88-01819328328 |
|
||
Locations
Details
|
|||||
|
|
|||||
|
Business
Address |
: |
PHP House, (2nd Floor), 31, Agrabad C/A,
Chittagong- 4100, Bangladesh. |
|||
|
Tel
No |
: |
880-31-2511037- 41, 01914326683 |
|||
|
E-mail |
: |
||||
|
Fax No |
: |
880-31- 726982 |
|||
|
Website |
: |
||||
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
3600 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential
Bldg. |
|
|
|
|
|
|
|
Factory: |
|
|
|
|
|
|
|
Address |
: |
Borokumra,
Sitakunda, Chittagong-4100, Bangladesh. |
|
Tel
No |
: |
880-31-727049 |
|
Fax
No |
: |
880-31- 724504 |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
73000 |
Sq. ft. |
|
Branches: |
|
|
|
|
|
|
|
Address |
: |
Nil |
|
Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
|
Employee: |
|
||||||
|
|
|
||||||
|
No.
of Employees |
In Office |
: |
50 |
In Factory |
: |
650 |
|
|
In Branch: |
: |
- |
Total
|
: |
700 |
||
|
Names of Shareholders |
No. of Share |
|
Mr. Mohd. Mizanur
Rahman Chowdhury |
100 |
|
Mrs. Tahmina Rahman
Chowdhury |
100 |
|
Mr. Mohd. Mohsin
Chowdhury |
244900 |
|
Mr. Mohd. Iqbal
Hossain Chowdhury |
244900 |
|
Mr. Mohd. Anwarul
Haque Chowdhury |
244900 |
|
Mr. Mohd. Amir
Hossain Chowdhury |
244900 |
|
Mr. Mohd. Zahirul
Islam Chowdhury |
244900 |
|
Mr. Mohd. Akhter
Parvez Chowdhury |
244900 |
|
Mr. Mohd. Ali
Hossain Chowdhury |
244900 |
|
Name |
Designation |
|
Mr. Mohd. Mizanur
Rahman Chowdhury |
Chairman |
|
Mr. Mohd. Mohsin
Chowdhury |
Managing
Director |
|
Mrs. Tahmina Rahman
Chowdhury |
Director |
|
Mr. Mohd. Iqbal
Hossain Chowdhury |
Director |
|
Mr. Mohd. Anwarul
Haque Chowdhury |
Director |
|
Mr. Mohd. Amir
Hossain Chowdhury |
Director |
|
Mr. Mohd. Zahirul
Islam Chowdhury |
Director |
|
Mr. Mohd. Akhter
Parvez Chowdhury |
Director |
|
Mr. Mohd. Ali
Hossain Chowdhury |
Director |
|
Name |
: |
Mr. Md. M.E
Mustafa. |
|
Job Description |
: |
Assistant General
Manager. |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01819328328 |
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
|
Services |
|
Others |
|
|
Item Dealings In: |
||
|
|
||
|
Products |
: |
CR Coil, Sheets. |
|
Production
Capacity |
: |
N/A |
|
Last Year Production |
: |
N/A |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit
: |
|
30
days |
|
60
days |
Ö |
90
days |
|
|
days |
|
Selling
Terms : |
L/C |
|
Cash |
Ö |
Others |
|
|
|||
|
|
Credit
: |
Ö |
30
days |
|
60
days |
|
90
days |
|
|
days |
|
Trade Reference & Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
|
|||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
|||||
|
Trade Markets |
: |
Exports |
: |
N/A |
|
||||||
|
Imports |
: |
China, India,
Turkey. |
|
||||||||
|
|
|
||||||||||
|
Brand Name |
: |
N/A |
|||||||||
|
Certified |
: |
Nil |
|||||||||
|
Auditors |
: |
N/A |
|||||||||
|
Operation Status |
: |
Active |
|||||||||
|
Member |
: |
Chittagong Chamber of Commerce & Industry. |
|||||||||
|
Authorized Capital |
: |
Tk. 100 Crore. |
|
||||||
|
Paid-up Capital |
: |
Tk. 17, 14,50,000 |
No. of Shares |
: |
17,14,500 |
Share Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk. 5650.40
Million. |
|
||||||
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
||
|
Sister Concerns |
: |
PHP Corporation
Ltd. PHP Cold Rolling
Mills Ltd. PHP Continuous
Galvanizing Mills Ltd PHP Power
Generation Plant Ltd. PHP NOF Continuous
Galvanizing Mills Ltd Bay Terminal &
Distribution Co. Ltd. PHP Fisheries Ltd. PHP Latex &
Rubber Products Ltd. PHP Latex &
Rubber Products Ltd. PHP Float Glass
Industries Ltd. PHP Power Company
Ltd. Fast Shipping
Agency Ltd. PHP Stocks &
Securities Ltd. Pelican Properties
Ltd. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
PHP Group. |
|
Bank Name |
: |
Bank Al-Falah Ltd. |
|
Bank Address |
: |
Agrabad Branch, 57, Agrabad,
Chittagong, Bangladesh. Tel- 88 0171 888727 |
|
|
||
|
Bank Name |
: |
United Commercial
Bank Ltd |
|
Bank Address |
: |
Agrabad Bran Kashfia Plaza (1st
Floor), 923/A, Sheikh Mujib Road, Agrabad C/A,
Chitagong-PC.4000 Tel-88-031-710706,716020,
710706,711054, 725997 Mobile - 88-01711804129,
0171725136 Fax- 88-031-711054 Email- agd@ucbl.com |
|
Bank Name |
: |
Rupali Bank Ltd. |
|
Bank Address |
: |
Agrabad Branch, 99,
Agrabad Comm. Area Chittagong - 4100 Telephone:
031-716388 |
|
Bank Name |
: |
Mutual Trust Bank
ltd. |
|
Bank Address |
: |
Agrabad Branch. Akhtaruzzaman
Centre 21-22 Agrabad C/A,
Chittagong Phone: 031-2523287,
031-2524269, 031-2510754,
031-716487 |
|
Bank Name |
: |
Premier Bank Ltd. |
|
Bank Address |
: |
Agrabad Branch. Al Islam Chamber
91, Agrabad Commercial Area Chittagong Tel : 714418,
717204,728256 Mobile :
01711825200 (Branch) Fax :
880-031-714418 Telex : 633081
PREAG BJ |
|
Dishonored
Checks |
: |
No Record
Found |
|
Debt |
: |
No Record Found |
|
Litigation |
: |
Clear |
|
Performance
Defaults |
: |
No Record
Found |
|
Adverse Local Media Coverage/ Adverse Filling History |
: |
No Record Found |
Our representative
visited the subject company Head Office which is situated at PHP House, (2nd Floor), 31, Agrabad
C/A, Chittagong- 4100, Bangladesh. The subject company is private limited
company engaged in manufacturer, exporter & distributor of cr Coils & Sheets. It also
produces High quality Cold Rolled Steel Strips (CR Coils) and Closely Annealed
Skin Passed CRCA Strips in form of coils and sheets. They are financially solvent & get good support from their bank.
Based on the financial statements, SC’s financial performance appears to
be average. SC has been in its line of business for about 13 years. Taking into
account its long-standing history, reputation in the market, as well as its
financial condition, we recommend that credit may proceed in moderate amounts.
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.00 |
|
UK Pound |
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.85.19 |
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.