|
Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAHIMAFROOZ ACCUMULATORS LIMITED |
|
|
|
|
Registered Office : |
1A Gulshan Avenue, Gulshan-1 Dhaka-1212 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
14.01.2009 |
|
|
|
|
Com. Reg. No.: |
C-69115 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
Manufacturer of Industrial Batteries |
|
|
|
|
No. of Employees : |
230 |
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 |
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 |
Rahimafrooz Accumulators Limited |
|
Address |
R S Dag No 1 4
48/4 West Panishail, Zirani Bazar, Gazipur |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9113696,
9113522 |
|
Fax No |
880-2-8115305,
9126968 |
|
E-Mail |
|
|
Website |
|
|
Established |
2009 |
|
Company Registration No |
C-69115 |
|
Registration date |
14th January 2009
|
|
Legal Status |
Private Limited |
|
Issuing Authority |
The
Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Corporate Head Office |
1A Gulshan
Avenue, Gulshan-1 Dhaka-1212 |
|
Telephone No |
880-2-9893442-3 |
|
Fax No |
880-2-8827780 |
|
E-Mail |
|
|
Website |
|
|
Operational Address |
705 Nakhalpara, Tejgaon, Dhaka 1215 Tel: 880-2-9113696, 9113522 Fax: 880-2-9126968, 8115305 |
|
Factory |
R S Dag No 1 4 48/4 West Panishail, Zirani Bazar, Gazipur |
|
Factory Tel No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
R S Dag No 1 4 48/4 West Panishail, Zirani Bazar, Gazipur |
|
Name |
Mr. Afroz Rahim |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Feroz Rahim |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohamed
Ismail |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Niaz Rahim |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Munawar
Misbah Moin |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mudassir
Murtaza Moin |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Afroz Rahim |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Feroz Rahim |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohamed
Ismail |
|
Share Percent |
10% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Niaz Rahim |
|
Share Percent |
10% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Munawar
Misbah Moin |
|
Share Percent |
10% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mudassir
Murtaza Moin |
|
Share Percent |
10% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer |
|
Items Dealing In |
Industrial Batteries |
|
Terms of Purchase |
Import: Against L/C Local: Cash or Credit |
|
Terms of Sale |
Local: Cash or Credit |
|
Name |
Southeast Bank Ltd |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan Avenue, Dhaka |
|
SWIFT |
SEBDBDDHGUL |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.35 million |
Tk.35 million |
N/A |
|
Turnover |
Tk.312.6 million |
Tk.312 million |
N/A |
|
Liability |
Tk.8 million |
Tk.8 million |
N/A |
|
Assets |
Tk.42 million |
Tk.42 million |
N/A |
|
Authorized
Capital |
Tk.100 million |
|
Paid Up Capital |
Tk.10 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
119.0566 |
|
U.S Dollar |
1 |
77.8300 |
|
European Euro |
1 |
100.9611 |
|
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 |
230 |
|
Office Area (Sq.
Ft) |
2,400 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
35,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
6,500 sq.ft (rented) |
|
Range of
Products |
4 Industrial
Batteries |
|
Collaboration
With |
4 Electrona, Switzerland |
|
Certifications |
4 ISO 9001 4 ISO 14001 |
|
Group Name |
4 Rahimafrooz Group |
|
Subsidiaries /
Affiliates |
4 Rahimafrooz (Bangladesh) Limited 4 Rahimafrooz CIC Agro Limited 4 Rahimafrooz Renewable Energy Limited
4 Rahimafrooz Globatt Limited 4 Rahimafrooz Distribution Limited 4 Rahimafrooz CNG Limited 4 Rahimafrooz Energy Services Limited 4 Rahimafrooz Superstores Limited 4 Rahimafrooz Battery Limited 4 Metronet 4 RZ Power 4 Core Knowledge Limited 4 Excel Resources Limited |
|
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.54.63 |
|
UK Pound |
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.71.02 |
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.