|
Report Date : |
12.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASIAN PAINTS (BANGLADESH) LIMITED |
|
|
|
|
Registered Office : |
House 428/A (4th & 5th Floor), Road 30, New
DOHS Mohakhali, Dhaka - 1206 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
04.10.2002 |
|
|
|
|
Com. Reg. No.: |
C – 41467 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer & Seller of Paints |
|
|
|
|
No. of Employees : |
300 |
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 : |
Good |
|
|
|
|
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 |
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 |
|
Name |
Asian Paints (Bangladesh) Limited |
|
Address |
House
428/A (4th & 5th Floor), Road 30, New DOHS
Mohakhali, Dhaka - 1206 |
|
Country |
Bangladeshi |
|
Telephone No |
880-2-8859329, 9893283, 8713087 |
|
Fax No |
880-2-9881186 |
|
E-Mail |
|
|
Website |
|
|
Established |
October 2002 |
|
Commercial
Production From |
July 2003 |
|
Company
Registration No |
C-41467 |
|
Registration
date |
4th
October 2002 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies, Dhaka |
|
Business Type |
Manufacturer & Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
|
Head Office |
House 428/A (4th
& 5th Floor), Road 30, New DOHS Mohakhali, Dhaka - 1206 |
|
Telephone No |
880-2-8859329, 9893283, 8713087 |
|
Fax No |
880-2-9881186 |
|
E-Mail |
|
|
Website |
|
|
Branch |
Dhaka Depot 220, Kunipara, Tejgaon,
Dhaka. Phones: +88-02-8859452-3,
8817585 Mobile: +88-017-14090910 Chittagong Office House # 3/EP, Road # 23/1, Agrabad C/A, Chittagong. Phone: +88-03-1726028 Mobile: +88-017-14090940 Chittagong Depot 7/D, Sholoshahar I/A, Nasirabad, Chittagong Mobile: +88-017-14090940 Sylhet Office House # 3, Road # 3, Block # I, Shahajalal Upashahar, Sylhet Tel: +88-02-12831724 Mobile: +88-017-13490764 Comilla Depot Court Road, Fouzdari Chowmuhani, Comilla Mobile: +88-017-30057550 Khulna Depot 84 No. Mouza, Gallamary, Batiaghata, Khulna Tel: +88-04-12830623 Mobile: +88-017-30057549 Bogra Depot Holding No # 4110, Mouza Sabgram, Bogra Pourasava, Bogra Sadar, Bogra Mobile: +88-017-30701710 |
|
Factory |
Plot
317 & 757, Bahadurpur, Gazipur |
|
Factory Telephone No |
880-2-9204482 |
|
Factory Fax No |
880-2-9204483 |
|
Warehouse |
Plot 317 &
757, Bahadurpur, Gazipur |
|
Name |
Mr. Aroop Nath
Chatterjee |
|
Designation |
Chairman |
|
Nationality |
Indian |
|
|
|
|
Name |
Engr. Rezaul Karim |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Shamsul Alam |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Asian Paints Limited |
|
Share Percent |
51% |
|
Country |
India |
|
|
|
|
Name |
Confidence Cement Limited |
|
Share Percent |
49% |
|
Nationality |
Bangladesh |
|
Line of Business |
Manufacturer & Seller |
|
Items Dealing In |
Paints |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Name |
CITI Bank N.A |
|
Branch |
Main Office
Branch |
|
Address |
Motijheel Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.42 million |
Tk.42 million |
Tk.40 million |
|
Turnover |
Tk.323.2 million |
Tk.322.9 million |
Tk.321.8 million |
|
Liability |
Tk.6 million |
Tk.6.8million |
Tk.7.2 million |
|
Assets |
Tk.57 million |
Tk.57 million |
Tk.55 million |
|
Authorized
Capital |
Tk.30 million |
|
Paid Up Capital |
Tk.150,000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
121.1112 |
|
U.S Dollar |
1 |
77.7600 |
|
European Euro |
1 |
103.0787 |
|
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 |
300 |
|
Office Area (Sq.
Ft) |
7,500 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
22,400 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
3,800 sq.ft.(rented) |
|
Range of
Products |
4 Royale Play 4 Royale Luxury
Silk Emulsion 4 Apex Ultima 4 Apcolite 4 Decora |
|
Raw Materials
From |
4 Dupont,
Thailand 4 Clarian,
Malaysia 4 Perstop,
Hong Kong 4 Rohn
& Hang, China |
|
Worldwide
Presence |
4 Berger 4 SCIB 4 Toubmans |
|
Certifications |
NIL |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
NIL |
|
Member |
4 Dhaka Chamber of Commerce & Industries, Dhaka |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Very Good |
|
Reputation |
Very Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.93 |
|
UK Pound |
1 |
Rs.91.81 |
|
Euro |
1 |
Rs.78.18 |
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.