MIRA INFORM REPORT
|
Report Date : |
14.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
S.A. OIL REFINERY LIMITED |
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|
|
|
Registered Office : |
Finlay House (3rd Floor), Agrabad
C/A, Chittagong |
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|
|
|
Country : |
Bangladesh |
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Date of Incorporation : |
16.04.2008 |
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|
|
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Com. Reg. No.: |
Ch-3446 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer & Seller of Edible Oil |
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No. of Employees : |
912 |
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 |
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|
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Payment Behaviour : |
No Complaints |
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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 |
S.A. Oil Refinery Limited |
|
Address |
Finlay House (3rd Floor), Agrabad C/A, Chittagong |
|
Country |
Bangladesh |
|
Telephone No |
880-31-815012-14 |
|
Fax No |
880-31-815015 |
|
E-Mail |
|
|
Website |
|
|
Established |
2008 |
|
Company Registration No |
CH-3446 |
|
Registration date |
16th
April 2008 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The
Registrar of Joint Stock Companies & Firms, Chittagong |
|
Business Type |
Manufacturer
& Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
Finlay House (3rd Floor), Agrabad C/A, Chittagong, Bangladesh |
|
Telephone No |
88-
031-815012-14 |
|
Fax No |
88- 031-815015 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
Bhatiary,
Sitakunda, Chittagong |
|
Plant Telephone No |
UNKNOWN |
|
Plant Fax No |
UNKNOWN |
|
Warehouse |
Bhatiary,
Sitakunda, Chittagong |
|
Name |
Mr. Md.
Shahabuddin Alam |
|
Designation |
Chairman & Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Sajedul Alam |
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Designation |
Director |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Sajjadul Alam |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Zahedul Alam |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Md.
Shahabuddin Alam |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Sajedul Alam |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Sajjadul Alam |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zahedul Alam |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer & Seller |
|
Items Dealing In |
Edible Oil |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Name |
Mercantile Bank Limited |
|
Branch |
Agrabad Branch |
|
Address |
Agrabad Commercial Area, Chittagong |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.48 million |
Tk.45 million |
Tk.45 million |
|
Turnover |
Tk.426 million |
Tk.424.6 million |
Tk.424 million |
|
Liability |
Tk.11 million |
Tk.13.4 million |
Tk.14 million |
|
Assets |
Tk.62 million |
Tk.60 million |
Tk.60 million |
The information provided is collected unofficially and as such its authenticity could not be guaranteed. As per Local Corporate & Tax law, a Private Limited Company is not bound to disclose its financial information
|
Authorized Capital |
Tk.30 million |
|
Paid Up Capital |
Tk.2 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
119.6321 |
|
U.S Dollar |
1 |
77.8500 |
|
European Euro |
1 |
101.0882 |
|
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 |
912 |
|
Office Area (Sq.
Ft) |
2,500 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
2.0 acres of land (leased) |
|
Warehouse Area
(Sq. Ft) |
5,000 sq.ft (leased) |
|
Range of
Products |
4 Vegetable Oil |
|
Major
Clients |
4 Local Consumers |
|
Certifications |
NIL |
|
Group Name |
4 SA Group of
Industries |
|
Subsidiaries /
Affiliates |
4 Shamannaz
Condensed Milk Ltd 4 Shamannaz Dairy
& Food Products Ltd 4 S. A. Pulp
& Paper Products Ltd 4 South Eastern
Tank Terminal Ltd 4 South Eastern
Oil Refinery Ltd 4 S.A. Consumer
products Ltd 4 S.A. Salt
Industries Ltd 4 S.A. Beverage
Ltd 4 Sharija Cement
Ltd 4 South Eastern
Paper Mills 4 S.A Properties
Ltd 4 S.A. Power
Generation Ltd 4 S.A. Tank
Terminal Ltd 4 Sarija Oil
Refinery Limited 4 Samannaz Super
Oils Ltd 4 Laila Vanaspati
Products Ltd 4 S.A. Condensed
Milk Ltd 4 S.A. Telecom
System Ltd |
|
Member |
4 Chittagong Chamber
of Commerce & Industries, Chittagong |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.92 |
|
UK Pound |
1 |
Rs.84.44 |
|
Euro |
1 |
Rs.71.32 |
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.