MIRA
INFORM REPORT
|
Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
AMBIENT STEEL (BD) LTD. |
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Registered Office : |
House-13 (2nd Floor), Road-2/3, Banani, Dhaka-1213 |
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Country : |
Bangladesh |
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Date of Incorporation : |
19.05.2011 |
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Com. Reg. No.: |
C-92865 |
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Legal Form : |
Private Co
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Line of Business : |
Manufacturer & Distributor of MS Rod, Deformed Bar |
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No. of Employees : |
200 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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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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Payment Behaviour : |
Slow but Correct |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
EXECUTIVE SUMMARY
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IDENTIFICATION
DETAILS |
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Correct company Name |
: |
AMBIENT STEEL
(BD) LTD. |
|
Head Office |
: |
House-13 (2nd Floor), Road-2/3, Banani, Dhaka-1213, Bangladesh
|
|
Tel No |
: |
88-02-989886, 9898908, 8391618,
9898996,9898902, 9898907 |
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Fax No |
: |
88-02-9898908 |
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E-mail |
: |
ambientsteelbdltd@gmail.com,
info@asbrm.net, danielsayeed@asbrm.net |
|
Website |
: |
www.asbrm.net |
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Date/ Year of Incorporation |
: |
19.05.2011 |
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Incorporation No. |
: |
C-92865 |
|
Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
|
Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
|
Issuing Authority |
: |
Registrar
of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
|
|
2011 |
Tk.235 Million |
Tk.8.5 Crore |
Tk.3.75 Million |
|
|
2012 |
Tk.278 Million |
Tk.9 Crore |
Tk.4.20 Million |
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|
Exchange Rate |
USD1-Tk. 77.8200 EUR 1- Tk. 100.2711 GBP 1- Tk.118.5354 AUD 1 - Tk.82.8563 JPY 1 - Tk.0.9286 |
CAD 1 - Tk.80.1887 SEK 1 - Tk.12.2870 SGD 1 - Tk.65.3045 CNH 1 - Tk.12.8399 |
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Sales Trend – Analysis: |
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2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
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- |
- |
- |
- |
- |
- |
- |
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FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Sabbir Hossain |
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Designation |
: |
Manager ( Admin & HR) |
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Contract No |
: |
- |
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Locations Details |
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Business Address |
: |
House-13 (2nd Floor), Road-2/3, Banani, Dhaka-1213, Bangladesh |
|
Tel No |
: |
88-02-989886, 9898908, 8391618,
9898996,9898902, 9898907 |
|
Fax No |
: |
88-02-9898908 |
|
E-mail |
: |
ambientsteelbdltd@gmail.com,
info@asbrm.net, danielsayeed@asbrm.net |
|
Website |
: |
www.asbrm.net |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
1800 |
Sq. ft. |
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Type of Office :
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: Commercial Office Bldg. |
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Semi-commercial office Bldg. |
Ö |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory: |
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Address |
: |
Barpa, Tarabo , Rupgonj, Narayangonj, Bangladesh
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Tel No |
: |
N/A |
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Fax No |
: |
N/A |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
5 |
Acores |
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Corporate Office |
: |
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Address |
: |
Akram Tower (12th floor, Suite - 04), 15/5 Bijoy Nagar, Dhaka-1000,
Bangladesh |
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Tel No |
: |
N/A |
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Fax No |
: |
N/A |
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Location : |
Owned |
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Rented |
Ö |
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Leased |
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Area |
1200 |
Sq. ft. |
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Employee: |
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No. of
Employees |
In Office |
: |
25 |
In Factory |
: |
171 |
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In Branch: |
: |
4 |
Total |
: |
200 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
|
Names of
Shareholders |
No. of Share |
|
Mr. Md. Jaynul Abedin Majumder |
12500 |
|
Mr. ASM Samsuddin Majumder |
12500 |
DIRECTORS
|
Name |
Designation |
|
Mr. Md. Jaynul Abedin Majumder |
Chairman |
|
Mr. ASM Samsuddin Majumder |
Managing Director |
MANAGEMENT
|
Name |
: |
Mr. Sabbir Hossain |
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Job Description |
: |
Manager ( Admin & HR) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
- |
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Other details |
: |
- |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
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Services |
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Others |
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Range of
Products/Item Dealings In: |
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Products |
: |
MS Rod, Deformed Bar |
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Production
Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
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30 days |
|
60 days |
Ö |
90 days |
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|
days |
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Selling
Terms : |
L/C |
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Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
DETAILED DATA
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local peoples |
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Overseas Suppliers |
: |
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Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
China, India, Singapore |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk.10 crore |
||||||
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Paid-up
Capital |
: |
Tk.2500000 |
No.
of Shares |
: |
25000 |
Share Value |
: |
Tk.100.00Each |
|
Main
Assets |
: |
Tk.9 crore |
||||||
FINANCIAL STATEMENT- DETAILED
The subject company don’t submit update financial figure to local
registry office.
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
Sister Concerns |
: |
A.K. Oxygen Ltd.
Brickland Ltd. Meshkat Industries (BD) Ltd |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Majumder Group of Companies |
BANKING
|
Bank Name |
: |
Agrani Bank Ltd |
|
Bank Address |
: |
Principal Branch, 9/D Dilkusha, Motijheel Tel: 88-02-9551650 Email:br4006@bangla.net |
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Bank Name |
: |
Dhaka bank Ltd. |
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Bank Address |
: |
Local Office, Adamjee Court (GF), 115-120 Motijheel C/A, Dhaka-1000 Tel: 8802 9556587, 9556592-3 Fax : 8802 9556583 Email : local@dhakabank.com.bd |
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Bank Name |
: |
Premier Bank Ltd. |
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Bank Address |
: |
Bangshal Branch 1st Floor, 70, Shahid Syed Nazrul Islam Sarani |
ADVERSE DATA MONITORING
|
Dishonored
Checks |
: |
No Record Found |
|
Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
|
Performance
Defaults |
: |
No Record Found |
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Adverse Local
Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE VISIT COMMENTARY
Our representative visited the subject company Head Office address which
is situated at House-13 (2nd Floor), Road-2/3, Banani, Dhaka-1213,
Bangladesh
GENERAL COMMENTS
Established in 2011, Subject is mainly engaged in Manufacturer &
Distributors of MS Rod, Deformed Bar. Having been in operation for several
years, Subject maintains acceptable business volume.
Based on the financial statements, SC’s financial performance appears to
be Above Average. SC has
been in its line of business for about 7 years. Talking into account its
long-standing history, reputation in the market, as well as its financial
condition, we recommend that Credit can proceed normally in Moderate amount
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.