MIRA INFORM REPORT

 

 

Report Date :

18.11.2013

 

IDENTIFICATION DETAILS

 

Name :

BUILDTRADE FOILS LTD.

 

 

Registered Office :

340, Tejgaon Industrial Area, Tejgaon, Dhaka-1208

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

2012

 

 

Com. Reg. No.:

C-105293

 

 

Legal Form :

Private Company  

 

 

Line of Business :

Manufacturer and Distributor of all kinds of Foils

 

 

No. of Employees :

15

 

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

 

EXECUTIVE SUMMARY

 

IDENTIFICATION DETAILS

 

Correct company Name

:

BUILDTRADE FOILS LTD.

Head Office

:

340, Tejgaon Industrial Area, Tejgaon, Dhaka-1208, Bangladesh

Tel No

:

88-02-9121866, 8258451, 07130734533, 01755524494

Fax No

:

88-02-9143389

E-mail

:

info@buildtradegroup.com

Website

:

www.buildtradefoils.com

Date/ Year of Incorporation

:

2012

Incorporation No.

:

C-105293

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

     2012

New Company

Tk.8 Crore

New company

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

 

 

FULLCHECK REPORT DETAILS

 

Information Parted By

 

 

 

Name

:

Ms.Farjana Ajam

Designation

:

Technical DGM

Contract No

:

Nil

 

 

Locations Details

 

Business Address

:

340, Tejgaon Industrial Area, Tejgaon, Dhaka-1208, Bangladesh

Tel No

:

88-02-9121866, 8258451, 07130734533, 01755524494

E-mail

:

info@buildtradegroup.com

Fax No

:

88-02-9143389

Website

:

www.buildtradefoils.com

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

1650

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Vill + Post: Kalampur, P.S: Dhamrai, Dhaka, Bangladesh

Tel No

:

+0651 89121, 038 95750636-39,                                                                               Cell: 01727-392787

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

24,000

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

Dhaka Trade Centre (6th Floor) 99, Kazi Nazrul Islam Avenue, Kawran Bazar,

Dhaka-1215, Bangladesh.

 

Tel No

:

Nil

Fax No

:

Nil

 

Location :

Owned

 

 

Rented

Ö

 

Leased

 

Area

850

Sq. ft.

 

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

4

In Factory

:

9

In Branch:

:

2

Total

:

15

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

Names of Shareholders

            No. of Share     

Al-Hajj Mohammad Mosaddak Ali

         20,000

Mr. Md. Enayetur Rahman

         15,000

Engr. Md. Zakir Hossain Sarker

         15,000

 

 

DIRECTORS

 

Name

Designation

Al-Hajj Mohammad Mosaddak Ali

    Chairman

Md. Enayetur Rahman

 Vice Chairman

                                       Engr. Md. Zakir Hossain Sarker

Managing Director

 

 

MANAGEMENT

 

Name

:

Najmul Haqe

Job Description

:

Company Secretary

Nationality

:

Bangladesh

Email address

:

Nil

Other details

:

Nil

 

 

 

Name

:

Farjana Azam

Job Description

:

DGM

Nationality

:

Bangladesh

Email address

:

Nil

Other details

:

Nil

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

Range of Products/Item Dealings In:

 

Products

:

 All kinds of Foils. 

Production Capacity

:

 N/A

Last Year Production

:

N/A

 

Trading Terms:

 

Purchasing Terms:

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

Selling Terms      :

L/C

 

Cash

Ö

Others

 

 

 

Credit :

Ö

30 days

 

60 days

 

90 days

 

 

days

 

 

DETAILED DATA

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

N/A

Local Clients

:

N/A

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

 

:

N/A

 

Imports

 

:

India, China

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

N/A

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

Tk.10 Crore

Paid-up Capital

:

Tk.5000000

No. of Shares

:

50000

 Share Value

:

Tk.100.00Each

Main Assets

:

Tk. 8 Crore


FINANCIAL STATEMENT- DETAILED

 

The subject company don’t submit update financial figure to local registry office.

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Buildtrade Engineering Limited 

Buildtrade Structures (BD) Limited

Buildtrade Color Coat Limited

Buildtrade Properties Limited

Buildtrade Foil Limited

International Television Channel Limited [NTV]

Innovative Corporation Limited

Sabina Fisheries and Dairy Firm

BEL Construction SDN BHD

South Asia Foundation

Agent of Northrop Grumman Systems Corporation

CHANNEL 9

Subsidiary

:

N/A

Name of  The Group

:

Buildtrade Group

 

 

BANKING

 

Bank Name  

:

Islami Bank Bangladesh Ltd.

Bank Address

:

Local Office

75, Motijheel C/A, Dhaka-1000

Phone: 02-9571201-2, 9568187, PABX-9552897

Mobile: 01711-694317 G B# 01711-693901-03

Fax: 880-2-9561105, 9561995

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks         

 

:     

No Record Found         

Debt

 

:

No Record Found

Litigation  

                   

:

Clear         

Performance Defaults

 

:

No Record Found         

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  340, Tejgaon Industrial Area, Tejgaon, Dhaka-1208, Bangladesh

 

 

GENERAL COMMENTS

 

The subject company has been in its line of business about 1 years. Taking into account its 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

UK Pound

1

Rs.101.15

Euro

1

Rs.84.95

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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.