MIRA INFORM REPORT

 

 

Report Date :

22.07.2013

 

IDENTIFICATION DETAILS

 

Name :

BANGLADESH CHEMICAL INDUSTRIES CORPORATION

 

 

Registered Office :

BCIC Bhaban, 30-31, Dilkusha C/A, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

July 1976

 

 

Legal Form :

Public Sector Corporation established under a Presidential Order No. XII of 1972

 

 

Line of Business :

Producing & Distributing of Chemical, chemical related products & Fertilizers

 

 

No. of Employees :

10,000 approximately

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

Payment Behaviour :

Regular

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

 

 

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

COMPANY DETAILS

 

Name

Bangladesh Chemical Industries Corporation

Address

BCIC Bhaban, 30-31, Dilkusha C/A, Dhaka-1000

Country

Bangladesh

Telephone No

880-2-9562140-41, 9559281-82

Fax No

880-2-9564120, 9569699

E-Mail

bcic.info@gmail.com, info@bcic.gov.bd

Website

www.bcic.gov.bd

Established

July 1976

Legal Status

Public Sector Corporation established under a Presidential Order No. XII of 1972

Business Type

Producing & Distributing

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

BCIC Bhaban, 30-31, Dilkusha C/A, Dhaka-1000

Telephone No

880-2-9562140-41, 9559281-82

Fax No

880-2-9564120, 9569699

E-Mail

bcic.info@gmail.com, info@bcic.gov.bd

Website

www.bcic.gov.bd

Branch

4 Chittagong

4 Khulna

4 Jamalpur

Factory

NIL

Factory Telephone No

NIL

Factory Fax No

NIL

Warehouse

NIL

 

 

DIRECTORS

 

Name

Mr. Mohammad Munsur Ali Sikder NDC

Designation

Chairman

Nationality

Bangladeshi

 

 

Name

Mr. Dipak Ranjan Datta

Designation

Director (Planning & Implementation)

Nationality

Bangladeshi

 

 

Name

Mr. Rafiqul Islam

Designation

Director ( Commercial )

Nationality

Bangladeshi

 

 

Name

Ms. Kazi Rowshan Akhter

Designation

Director (Finance)

Nationality

Bangladeshi

 

 

Name

Mr. Abul Kashem

Designation

Director (Production & Research)

Nationality

Bangladeshi

 

 

Name

Mr. Manzoor Ahmad Tarafdar

Designation

Director (Technical & Engineering)

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Producing & Distributing

Items Dealing In

Chemical, chemical related products & Fertilizers

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Local: Cash or Credit

 

BANKERS

 

Name

Sonali Bank Limited

Branch

Local Principal Office Branch

Address

Motijheel Commercial Area, Dhaka

SWIFT

BSONBDDHBWP

 

 

Name

Janata Bank Limited

Branch

Dilkusha Corporate Branch

Address

1, Dilkusha Commercial Area, Dhaka-1000

SWIFT

JANBBDDHDCB

 

 

Name

Agrani Bank Limited

Branch

Local Principal Branch

Address

Motijheel Commercial Area, Dhaka-1000

SWIFT

AGBKBDDH006

 

 

FINANCIAL INFORMATION

 

Year

2012

2011

2010

 

Investment

Tk.1420 billion

Tk.1420 billion

Tk.1400 billion

Turnover

Tk.3520 billion

Tk.3500 billion

Tk.3000 billion

Liability

Tk.89.4 billion

Tk.90 billion

Tk.93 billion

Assets

Tk.2500 billion

Tk.2500 billion

Tk.2100 billion

 

 

CAPITAL STRUCTURE

 

Authorized Capital

N/A

Paid Up Capital

N/A

Each Share Value

N/A

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

118.8017

U.S Dollar

1

77.7600

European Euro

1

102.2077

 

 

ADVERSE DATA MONITORING

 

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

 

 

GENERAL INFORMATION

 

Employees

10,000 app

Office Area (Sq. Ft)

11,000 app (own)

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

Unknown

Range of Products

4 Urea

4 TSP

4 Paper

4 Cement

4 Insulator

4 Sanitary ware

Certifications

NIL

Wholly Owned by

4 Ministry of Industries, Government of The People’s Republic

    of Bangladesh

Subsidiaries / Affiliates

Enterprises:

4 Chittagong Urea Fertilizer Factory Ltd.

4 Jamuna Fertilizer Company Ltd.         

4 Ashuganj Fertilizer & Chemical Co. Ltd.          

4 Urea Fertilizer Factory Ltd.    

4 Polash Urea Fertilizer Factory Ltd.     

4 Natural Gas Fertilizer Factory Ltd.      

4 Karnaphuli Paper Mills Ltd.    

4 Khulna Hardboard Mills Ltd.   

4 Chhatak Cement Co. Ltd.      

4 Bangladesh Insulator & Sanitary Ware Factory Ltd.     

4 Usmania Glass Sheet Factory Ltd.     

4 TSP Complex Ltd.    

4 DAP Fertilizer Co. Ltd.

 

Joint Ventures:

4 Karnaphuli Fertilizer Co., Ltd. (KAFCO)          

4 Aventis Ltd.  

4 Bayer Crop Science (Bangladesh) Ltd.           

4 Noverties (Bangladesh) Ltd.   

4 Syngenta Bangladesh Ltd.     

4 Dhaka Match Industries Co. Ltd.        

4 Bukl Management (BD) Ltd.   

4 Miracle Industries Ltd.           

4 Magura Paper Mills Ltd.        

Member

NIL

 

 

BUSINESS TREND & PROSPECT

 

Business Scale           

Large

Business Trend

Growing

Management Capability

Good

Reputation

Good

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.79

UK Pound

1

Rs.91.03

Euro

1

Rs.78.52

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.