|
Report Date : |
23.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
BEST AVIATION LIMITED |
|
|
|
|
Registered Office : |
House No 43, Road 1/A, Block J, Baridhara Diplomatic Area,
Dhaka-1212 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
September 1999 |
|
|
|
|
Com. Reg. No.: |
C-37934 |
|
|
|
|
Legal Form : |
Private Limited |
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|
|
|
Line of Business : |
Service Provider of Aviation & Tourism |
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|
|
|
No. of Employees : |
345 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
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 |
Best Aviation Limited |
|
Address |
House No 43,
Road 1/A, Block J, Baridhara Diplomatic Area, Dhaka-1212 |
|
Country |
Bangladesh |
|
Telephone No |
880-2- 8855254,
9880642, 8832554, 8813242, 9896898 |
|
Fax No |
880-2- 8860248,
9881290 |
|
E-Mail |
|
|
Website |
www.bestairbd.com |
|
Established |
1999 |
|
Company Registration No |
C-37934 |
|
Registration date |
September 1999 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies, Dhaka |
|
Business Type |
Service Provider |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
|
Head Office |
House No 43,
Road 1/A, Block J, Baridhara Diplomatic Area, Dhaka-1212 |
|
Telephone No |
880-2- 8855254,
9880642, 8832554, 8813242, 9896898 |
|
Fax No |
880-2- 8860248,
9881290 |
|
E-Mail |
|
|
Website |
www.bestairbd.com |
|
Branch |
4 Chittagong City Office
(Nasirabad) The Peninsula Chittagong CDA Avenue, Chittagong. Bangladesh Tel: +880312850860 - 9 Cell: +8801195 061737 4 Best Aviation Bangkok Office Tel: +6622671230-4 Fax: +6622384521-2 4 Best Aviation Singapore Office GSA-GURU Travels Pte Ltd. #01-16/17/18 Serangoon Plaza Singapore-218108. Tel: +65 2979132 / 63928406. Fax: +65 62979129 4 CSA-Asia One Network Pte Ltd. 45 Airport Cargo Road #01-16/17/18 Serangoon Plaza Singapore-819478. Tel: +65 6543 2878 Fax: +65 6543 2877 4 Best Aviation Kuala Lumpur
Office Jalan Munshi
Abdullah 50100 Kuala
Lumpur Malaysia. Tel: +603 26911222 Fax: +603 26916222 4 CSA-Super Six Cargo Sdn. Bhd. Taman Tun Dr.
Islmail, 60000 Kuala
Lumpur Malaysia. Tel: +603 77280003. Fax: +603 77254003 |
|
Factory |
N/A |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
N/A |
|
Name |
Mr. Mohammad
Rafiqul Amin |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Dr. M. Haider
Uzzaman |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
Name |
Destiny
Multipurpose Co-Operative Society Limited |
|
Share Percent |
80% |
|
Country |
Bangladesh |
|
|
|
|
Name |
Others |
|
Share Percent |
20% |
|
Country |
Bangladesh |
|
Line of Business |
Service Provider |
|
Items Dealing In |
Aviation & Tourism |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Name |
Standard Chartered Bank |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
HSBC |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.6 billion |
Not in Operations |
Tk.5.7 billion |
|
Turnover |
Tk.3.2 million |
Not in Operations |
Tk.2.8 million |
|
Liability |
Tk.1 billion |
Not in Operations |
Tk.1.4 billion |
|
Assets |
Tk.14 billion |
Not in Operations |
Tk.12 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.
NOTE:
NO LATEST FINANCIAL INFORMATION I AVAILABLE
|
Authorized Capital |
Tk.3 billion |
|
Paid Up Capital |
Tk.1 billion |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
127.2957 |
|
U.S Dollar |
1 |
79.5300 |
|
European Euro |
1 |
105.7192 |
|
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 |
345 |
|
Office Area (Sq.
Ft) |
3,800 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
2,250 sq.ft (rented) |
|
Range of
Services |
4 Airline for
passengers & cargos 4 Tour Operator |
|
Fleet |
4 ATR-72 |
|
Routes |
Domestic Bangladesh 4 Dhaka - Shahjalal International Airport
Base 4 Jessore - Jessore Airport 4 Chittagong - Shah Amanat International
Airport 4 Sylhet - Osmani International Airport International 4 United Arab Emirates Dubai -
Dubai International Airport 4 India Kolkata
- Netaji Subhash Chandra Bose International Airport 4 Singapore
Singapore - Changi International Airport 4 Thailand Bangkok
- Suvarnabhumi Airport 4 Malaysia Kuala
Lumpur - Kuala Lumpur International Airport |
|
Certifications |
NIL |
|
Group Name |
4 Destiny Group |
|
Subsidiaries /
Affiliates |
4 Destiny-2000
Ltd. 4 Destiny
Shopping Center Ltd. 4 Air Destiny
Ltd. 4 Destiny
Electric & Electronics Industries Ltd. 4 Destiny
Multipurpose Co-operative Society Ltd. 4 Destiny Foundation
Ltd 4 Destiny Tree
Plantation Ltd. 4 Destiny
Transport System Ltd. 4 Destiny-Diamond
Builders Ltd. 4 Destiny Media
& Publication Ltd. 4 Configure
Housing Ltd 4 Destiny Hitachi
Electric Industries Ltd. 4 Boishakhi Media
Ltd. 4 Destiny Medical
College & Hospital Ltd. 4 Destiny Agro
Industries Ltd. 4 Destiny
Printing & Packaging Ltd. 4 Destiny
Developers Ltd. 4 Destiny
Printing Press 4 Destiny SASSCO
Properties Ltd. 4 Destiny
Environment & Savings Energy Ltd. 4 Destiny Airways
System Ltd. 4 Destiny Life
Insurance Ltd.[Proposed] 4 Destiny
Consumer products Ltd. 4 Destiny Nihaj
Jute Spinners Ltd. 4 Destiny
Printing Press. 4 Diamond
Consortium Ltd |
|
Member |
4Dhaka Chamber of
Commerce & Industries, Dhaka 4 Civil Aviation
Authority, Bangladesh (CAAB) 4 Bangladesh
Package Tour Operator Association, Dhaka
|
The Chairman of Best Aviation Limited & Destiny Group had been
arrested for a corruption and money laundering case which was filed by
Anti-Corruption Commission of Bangladesh.
Sources:
http://www.thedailystar.net/newDesign/latest_news.php?nid=37703
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.51 |
|
|
1 |
Rs.84.85 |
|
Euro |
1 |
Rs.71.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.