MIRA
INFORM REPORT
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Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
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Name : |
BANGLALINK DIGITAL COMMUNICATIONS LIMITED |
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Registered Office : |
FM Center (Tiger House) Level-1, House# SW (H) 04, Gulshan Avenue. Gulshan, Dhaka-1212 |
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Country : |
Bangladesh |
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Financials (as on) : |
2012 |
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Date of Incorporation : |
27.07.1989 |
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Com. Reg. No.: |
C-28679 |
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Legal Form : |
Private
Co |
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Line of Business : |
Subject is a service provider of Telecommunication &
Net Work Service. |
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No. of Employees : |
650 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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Bangladesh |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
Source
: CIA
IDENTIFICATION
DETAILS
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Correct company Name |
: |
Banglalink Digital Communications Limited |
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Previous Name |
: |
Orascom Telecom Bangladesh Limited |
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Head office |
: |
FM Center (Tiger House) Level-1, House# SW (H) 04, Gulshan Avenue. Gulshan, Dhaka-1212, Bangladesh |
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Tel No |
: |
880-2-9885770, 881197, 6885770, 8827265 |
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Fax No |
: |
880-2-8821256 |
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E-mail |
: |
afaqnih@banglalinkgsm.com |
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Website |
: |
www.banglalinkgsm.com |
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Date/ Year of Incorporation |
: |
27-07-1989 |
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Incorporation
No. |
: |
C-28679 |
|
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) ________________ |
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Issuing Authority |
: |
Registrar of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
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FINANCIALS- SUMMARY
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Year |
Turnover/ Sales |
Assets |
Income |
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2011 |
Tk.3 7,000 Million |
Tk. Tk. 95,528,000 000 |
Tk.100.5Million |
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2012 |
Tk.3 7,879 Million |
Tk. 95,528,060 000 |
Tk.120.00Million |
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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. M. Nurul Ala |
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Designation |
: |
Company Secretary |
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Contract No |
: |
- |
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Locations Details |
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Business Address |
: |
FM Center (Tiger House) Level-1, House# SW (H) 04 Gulshan Avenue. Gulshan, Dhaka-1212, Bangladesh |
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Tel No |
: |
880-2-9885770, 881197, 6885770, 8827265 |
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Fax |
: |
880-2-8821256 |
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Email |
: |
afaqnih@banglalinkgsm.com |
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Website |
: |
www.banglalinkgsm.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
25500 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
Ö |
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Semi-commercial office Bldg. |
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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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Employee: |
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No. of
Employees |
In Office |
: |
650 |
In Factory |
: |
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In Branch: |
: |
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Total |
: |
650 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of
Shareholders |
No. of Share |
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Orascom Telecom Ventures Limited |
4,295,122,600 |
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Mr. Naguib Sawiris |
100 |
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Mr. Khaled Galal Bishara |
100 |
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Mr. Ragy Soliman |
100 |
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Mr. Rahsid Khan |
100 |
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Mr. Ezzeldin M Heikal |
100 |
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Mr. Afzal Hussain Choudhur |
100 |
DIRECTORS
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Name |
Designation |
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Ahmed Abou Doma |
Chairman &
Managing Director |
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Mikhail Gerchuk |
Director |
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Philip Tohme |
Director |
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Khaled Galal
Bishara |
Director |
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Ragy Soliman |
Director |
MANAGEMENT
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Name |
: |
Mohammad Ershad |
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Email address |
: |
- |
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Nationality |
: |
Bangladeshi |
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Job Description |
: |
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Other details |
: |
- |
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Name |
: |
Md. Salim Hossain |
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Email address |
: |
- |
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Nationality |
: |
Bangladeshi |
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Job Description |
: |
Assistant
Manager |
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Other details |
: |
- |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
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Trader |
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Dealer |
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Distributor |
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Exporter |
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Importer |
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Net Work Service Provider |
Ö |
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Range of
Products/Item Dealings In: |
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Products |
: |
Telecommunication & Net Work Service Provider |
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Production Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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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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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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days |
DETAILED DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local people |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
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N/A |
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Imports |
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N/A |
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Brand Name |
: |
Banglink |
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Certified |
: |
- |
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Auditors |
: |
S F Ahmed & Co. Chartered Accountants House – 25, Road – 13A, Block – D Banani, Dhaka-1212 |
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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. 33,000,000,000 |
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Paid-up Capital |
: |
Tk.42,951,232,000 |
No. of Shares |
: |
4295123200 |
Share Value |
: |
Tk.10.00Each |
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Main Assets |
: |
Tk. 95,528,060 000 |
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ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
N/A |
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Subsidiary |
: |
N/A |
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Name of
The Group |
: |
N/A |
BANKING
|
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Bank Name |
: |
Bank Asia Ltd. BRAC Bank Ltd. Citi NA Commercial Bank of
Ceylon Dhaka Bank Ltd Dutch-Bangla Bank
Ltd Eastern Bank Ltd HSBC IFIC Bank Ltd Jamuna Bank ltd. Mutual Trust Bank
ltd. National Bank Ltd. One Bank Ltd Premier Bank Ltd. Prime Bank Ltd. Pubali Bank Ltd. Shahjalal Islami
Bank ltd. Southeast Bank Ltd. Standard Chartered
Bank Ltd. The City Bank Ltd The Trust Bank Ltd Islamic Bank
Bangladesh ltd United Commercial
Bank Ltd |
ADVERSE DATA MONITORING
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Dishonored
Checks |
:
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No Record
Found |
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Debt |
: |
No Record
Found |
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Litigation |
: |
Clear |
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Performance
Defaults |
: |
No Record
Found |
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Adverse Local Media
Coverage/ Adverse Filling History |
: |
No Record
Found |
SITE VISIT COMMENTARY
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Our representative visited the subject company address which is situated at FM Center (Tiger House) Level-1, House# SW (H) 04, Gulshan Avenue.Gulshan, Dhaka-1212, Bangladesh. Its office is most modern decorated office. |
GENERAL COMMENTS
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Established in 1989, the subject is mainly engaged in Telecommunication & Net Work Service Provider. Having been in operation for several years, the subject maintains accepted business volume. Reputation in the market, as well as its financial condition, we recommended that Credit can proceed with favorable terms in Large amount |
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Adopted Abbreviations: |
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NA- Not
Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
|
1 |
Rs.100.86 |
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Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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-- |
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.