|
Report Date : |
10.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
ATLAS COPCO BANGLADESH LIMITED |
|
|
|
|
Registered Office : |
Level 13 (N-E Portion), Unique Trade
Centre (Utc) 8, Panthapath, Kawran Bazar, Dhaka-1215 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2012 (Parent Company ) |
|
|
|
|
Date of Incorporation : |
15.05.2008 |
|
|
|
|
Com. Reg. No.: |
C-70451 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Importer & Distributor
of Compressor |
|
|
|
|
No. of Employees : |
480 |
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 – 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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BANGALDESH - 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
|
Name |
Atlas Copco
Bangladesh Limited |
|
Address |
Level 13 (N-E Portion), Unique Trade Centre (UTC) |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9116709, 9116529 |
|
Fax No |
880-2-9117016 |
|
E-Mail |
info@atlascopco.com |
|
Website |
www.atlascopco.com |
|
Established |
2008 |
|
Company Registration No |
C-70451 |
|
Registration date |
15th
May 2008 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Register of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Importer & Distributor |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
|
Head Office |
Sickla
Industrievaeg 3, Nacka, 131 34, Sweden |
|
Telephone No |
+46-8-7438000 |
|
Fax No |
+46-8-6449045 |
|
E-Mail |
info@atlascopco.com |
|
Website |
www.atlascopco.com |
|
Branch |
NIL |
|
Factory |
N/A
|
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Level 13 (N-E Portion), Unique Trade Centre (UTC) |
|
Name |
Mr. Sune Carlsson |
|
Designation |
Chairman |
|
Nationality |
Swedish |
|
|
|
|
Name |
Mr. Jacob Wallenberg |
|
Designation |
Vice-Chairman |
|
Nationality |
Swedish |
|
|
|
|
Name |
Mr. Ronnie Leten |
|
Designation |
President and
Chief Executive Officer |
|
Nationality |
Swedish |
|
|
|
|
Name |
Ms. Ulla Litzén |
|
Designation |
Director |
|
Nationality |
Swedish |
|
|
|
|
Name |
Mr. Anders Ullberg |
|
Designation |
Director |
|
Nationality |
Swedish |
|
|
|
|
Name |
Mr. Staffan Bohman |
|
Designation |
Director |
|
Nationality |
Swedish |
|
|
|
|
Name |
Ms. Margareth Øvrum |
|
Designation |
Director |
|
Nationality |
Swedish |
|
|
|
|
Name |
Mr. Johan Forssell |
|
Designation |
Director |
|
Nationality |
Swedish |
|
|
|
|
Name |
Ms. Gunilla Nordström |
|
Designation |
Director |
|
Nationality |
Swedish |
|
Name |
Atlas Copco
Group |
|
Share Percent |
100% |
|
Country |
Sweden |
|
Line of Business |
Importer & Distributor |
|
Items Dealing In |
Compressor |
|
Terms of Purchase |
Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Name |
Standard
Chartered Bank |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan, Dhaka |
|
SWIFT |
N/A |
Parent
Company Balance Sheet
As
At 31 December 2012
Currency:
Swedish Kronas (In Million)
|
Assets |
|
|
Cash and Equivalents |
12,416.0 |
|
Short-Term Investments |
18.0 |
|
TOTAL CASH AND SHORT TERM INVESTMENTS |
12,434.0 |
|
Accounts Receivable |
16,389.0 |
|
Other Receivables |
5,094.0 |
|
Inventory |
17,653.0 |
|
Prepaid Expenses |
787.0 |
|
Other Current Assets |
201.0 |
|
TOTAL CURRENT ASSETS |
52,558.0 |
|
NET PROPERTY PLANT AND EQUIPMENT |
8,876.0 |
|
Long-Term Investments |
291.0 |
|
Goodwill |
10,180.0 |
|
Other Intangibles |
4,112.0 |
|
Other Long-Term Assets |
1,932.0 |
|
TOTAL ASSETS |
81,149.0 |
|
|
|
|
LIABILITIES & EQUITY |
|
|
Accounts Payable |
6,700.0 |
|
Accrued Expenses |
4,900.0 |
|
Short-Term Borrowings |
593.0 |
|
Current Portion of Long-Term Debt/Capital Lease |
309.0 |
|
Other Current Liabilities |
6,721.0 |
|
TOTAL CURRENT LIABILITIES |
21,497.0 |
|
Long-Term Debt |
20,078.0 |
|
Capital Leases |
72.0 |
|
Minority Interest |
54.0 |
|
Other Liabilities, Total |
4,370.0 |
|
TOTAL LIABILITIES |
46,017.0 |
|
Common Stock |
786.0 |
|
Additional Paid in Capital |
5,628.0 |
|
Retained Earnings |
29,771.0 |
|
Comprehensive Income and Other |
-1,107.0 |
|
TOTAL COMMON EQUITY |
35,078.0 |
|
TOTAL EQUITY |
35,132.0 |
|
TOTAL LIABILITIES AND EQUITY |
81,149.0 |
Parent
Company Income Statement
For
the Year Ended 31 December 2012
Currency:
Swedish Kronas (In Million)
|
Revenues |
90,533.0 |
|
TOTAL REVENUES |
90,533.0 |
|
Cost of Goods Sold |
55,779.0 |
|
GROSS PROFIT |
34,754.0 |
|
Selling General & Admin Expenses, Total |
13,665.0 |
|
R&D Expenses |
2,023.0 |
|
Other Operating Expenses |
-202.0 |
|
OTHER OPERATING EXPENSES, TOTAL |
15,486.0 |
|
OPERATING INCOME |
19,268.0 |
|
Interest Expense |
-928.0 |
|
Interest and Investment Income |
354.0 |
|
Other Non-Operating Expenses, Total |
-228.0 |
|
Other Non-Operating Income (Expenses) |
-97.0 |
|
Merger & Restructuring Charges |
-11.0 |
|
Impairment of Goodwill |
-- |
|
Gain (Loss) on Sale of Investments |
-- |
|
Gain (Loss) on Sale of Assets |
137.0 |
|
Other Unusual Items, Total |
-54.0 |
|
EBT, INCLUDING UNUSUAL ITEMS |
18,538.0 |
|
Income Tax Expense |
4,624.0 |
|
Minority Interest in Earnings |
-13.0 |
|
Earnings from Continuing Operations |
13,914.0 |
|
NET INCOME |
13,901.0 |
|
NET INCOME TO COMMON INCLUDING EXTRA ITEMS |
13,901.0 |
|
NET INCOME TO COMMON EXCLUDING EXTRA ITEMS |
13,901.0 |
|
Authorized
Capital |
Tk.50 million |
|
Paid Up Capital |
Tk.5 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
116.2590 |
|
U.S Dollar |
1 |
77.7600 |
|
European Euro |
1 |
100.0927 |
|
Dishonored
Checks |
No Found |
|
Debt |
No Found |
|
Litigation |
No Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
|
Employees |
480 |
|
Office Area (Sq.
Ft) |
2,500 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
10,500 sq.ft.(own) |
|
Range of
Products |
4 Compressed Natural Gas (CNG) Compressors |
|
Major
Clients |
4 Local Consumers |
|
Certifications |
NIL |
|
Parent Company |
4 Atlas
Copco Group, Sweden |
|
Subsidiaries /
Affiliates |
NIL |
|
Member |
4 Dhaka
Chamber of Commerce & Industries, Dhaka |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.07 |
|
|
1 |
Rs.89.91 |
|
Euro |
1 |
Rs.77.43 |
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%)
|
Report Date : |
10.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
ATLAS COPCO BANGLADESH LIMITED |
|
|
|
|
Registered Office : |
Level 13 (N-E Portion), Unique Trade
Centre (Utc) 8, Panthapath, Kawran Bazar, Dhaka-1215 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2012 (Parent Company ) |
|
|
|
|
Date of Incorporation : |
15.05.2008 |
|
|
|
|
Com. Reg. No.: |
C-70451 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Importer &
Distributor of Compressor |
|
|
|
|
No. of Employees : |
480 |
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 – 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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BANGALDESH - 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
|
Name |
Atlas Copco
Bangladesh Limited |
|
Address |
Level 13 (N-E Portion), Unique Trade Centre (UTC) |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9116709, 9116529 |
|
Fax No |
880-2-9117016 |
|
E-Mail |
info@atlascopco.com |
|
Website |
www.atlascopco.com |
|
Established |
2008 |
|
Company Registration No |
C-70451 |
|
Registration date |
15th
May 2008 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Register of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Importer & Distributor |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
|
Head Office |
Sickla
Industrievaeg 3, Nacka, 131 34, Sweden |
|
Telephone No |
+46-8-7438000 |
|
Fax No |
+46-8-6449045 |
|
E-Mail |
info@atlascopco.com |
|
Website |
www.atlascopco.com |
|
Branch |
NIL |
|
Factory |
N/A
|
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Level 13 (N-E Portion), Unique Trade Centre (UTC) |
|
Name |
Mr. Sune Carlsson |
|
Designation |
Chairman |
|
Nationality |
Swedish |
|
|
|
|
Name |
Mr. Jacob Wallenberg |
|
Designation |
Vice-Chairman |
|
Nationality |
Swedish |
|
|
|
|
Name |
Mr. Ronnie Leten |
|
Designation |
President and
Chief Executive Officer |
|
Nationality |
Swedish |
|
|
|
|
Name |
Ms. Ulla Litzén |
|
Designation |
Director |
|
Nationality |
Swedish |
|
|
|
|
Name |
Mr. Anders Ullberg |
|
Designation |
Director |
|
Nationality |
Swedish |
|
|
|
|
Name |
Mr. Staffan Bohman |
|
Designation |
Director |
|
Nationality |
Swedish |
|
|
|
|
Name |
Ms. Margareth Øvrum |
|
Designation |
Director |
|
Nationality |
Swedish |
|
|
|
|
Name |
Mr. Johan Forssell |
|
Designation |
Director |
|
Nationality |
Swedish |
|
|
|
|
Name |
Ms. Gunilla Nordström |
|
Designation |
Director |
|
Nationality |
Swedish |
|
Name |
Atlas Copco
Group |
|
Share Percent |
100% |
|
Country |
Sweden |
|
Line of Business |
Importer & Distributor |
|
Items Dealing In |
Compressor |
|
Terms of Purchase |
Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Name |
Standard
Chartered Bank |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan, Dhaka |
|
SWIFT |
N/A |
Parent
Company Balance Sheet
As
At 31 December 2012
Currency:
Swedish Kronas (In Million)
|
Assets |
|
|
Cash and Equivalents |
12,416.0 |
|
Short-Term Investments |
18.0 |
|
TOTAL CASH AND SHORT TERM INVESTMENTS |
12,434.0 |
|
Accounts Receivable |
16,389.0 |
|
Other Receivables |
5,094.0 |
|
Inventory |
17,653.0 |
|
Prepaid Expenses |
787.0 |
|
Other Current Assets |
201.0 |
|
TOTAL CURRENT ASSETS |
52,558.0 |
|
NET PROPERTY PLANT AND EQUIPMENT |
8,876.0 |
|
Long-Term Investments |
291.0 |
|
Goodwill |
10,180.0 |
|
Other Intangibles |
4,112.0 |
|
Other Long-Term Assets |
1,932.0 |
|
TOTAL ASSETS |
81,149.0 |
|
|
|
|
LIABILITIES & EQUITY |
|
|
Accounts Payable |
6,700.0 |
|
Accrued Expenses |
4,900.0 |
|
Short-Term Borrowings |
593.0 |
|
Current Portion of Long-Term Debt/Capital Lease |
309.0 |
|
Other Current Liabilities |
6,721.0 |
|
TOTAL CURRENT LIABILITIES |
21,497.0 |
|
Long-Term Debt |
20,078.0 |
|
Capital Leases |
72.0 |
|
Minority Interest |
54.0 |
|
Other Liabilities, Total |
4,370.0 |
|
TOTAL LIABILITIES |
46,017.0 |
|
Common Stock |
786.0 |
|
Additional Paid in Capital |
5,628.0 |
|
Retained Earnings |
29,771.0 |
|
Comprehensive Income and Other |
-1,107.0 |
|
TOTAL COMMON EQUITY |
35,078.0 |
|
TOTAL EQUITY |
35,132.0 |
|
TOTAL LIABILITIES AND EQUITY |
81,149.0 |
Parent
Company Income Statement
For
the Year Ended 31 December 2012
Currency:
Swedish Kronas (In Million)
|
Revenues |
90,533.0 |
|
TOTAL REVENUES |
90,533.0 |
|
Cost of Goods Sold |
55,779.0 |
|
GROSS PROFIT |
34,754.0 |
|
Selling General & Admin Expenses, Total |
13,665.0 |
|
R&D Expenses |
2,023.0 |
|
Other Operating Expenses |
-202.0 |
|
OTHER OPERATING EXPENSES, TOTAL |
15,486.0 |
|
OPERATING INCOME |
19,268.0 |
|
Interest Expense |
-928.0 |
|
Interest and Investment Income |
354.0 |
|
Other Non-Operating Expenses, Total |
-228.0 |
|
Other Non-Operating Income (Expenses) |
-97.0 |
|
Merger & Restructuring Charges |
-11.0 |
|
Impairment of Goodwill |
-- |
|
Gain (Loss) on Sale of Investments |
-- |
|
Gain (Loss) on Sale of Assets |
137.0 |
|
Other Unusual Items, Total |
-54.0 |
|
EBT, INCLUDING UNUSUAL ITEMS |
18,538.0 |
|
Income Tax Expense |
4,624.0 |
|
Minority Interest in Earnings |
-13.0 |
|
Earnings from Continuing Operations |
13,914.0 |
|
NET INCOME |
13,901.0 |
|
NET INCOME TO COMMON INCLUDING EXTRA ITEMS |
13,901.0 |
|
NET INCOME TO COMMON EXCLUDING EXTRA ITEMS |
13,901.0 |
|
Authorized
Capital |
Tk.50 million |
|
Paid Up Capital |
Tk.5 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
116.2590 |
|
U.S Dollar |
1 |
77.7600 |
|
European Euro |
1 |
100.0927 |
|
Dishonored
Checks |
No Found |
|
Debt |
No Records Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
|
Employees |
480 |
|
Office Area (Sq.
Ft) |
2,500 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
10,500 sq.ft.(own) |
|
Range of
Products |
4 Compressed Natural Gas (CNG) Compressors |
|
Major
Clients |
4 Local Consumers |
|
Certifications |
NIL |
|
Parent Company |
4 Atlas
Copco Group, Sweden |
|
Subsidiaries /
Affiliates |
NIL |
|
Member |
4 Dhaka
Chamber of Commerce & Industries, Dhaka |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.07 |
|
|
1 |
Rs.89.91 |
|
Euro |
1 |
Rs.77.43 |
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.