|
Report Date : |
21.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
AVENUE TRADE AND ENGINEERING LTD.
|
|
|
|
|
Registered Office : |
House # 35, Sonarga Janapath Road, Sec # 7, Uttara, Dhaka-1230 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
09.02.2006 |
|
|
|
|
Com. Reg. No.: |
C-60425 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Importer, Distributor & Trader of Pumps,
Cooling Tower, Electrical Motor & Inverter, Water Treatment Plant, Air
Compressor as well as Weighting Scale.
|
|
|
|
|
No of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
Bangladesh ECONOMIC OVERVIEW
Bangladesh's economy has grown roughly 6% per year since
1996 despite political instability, poor infrastructure, corruption, insufficient
power supplies, slow implementation of economic reforms, and the 2008-09 global
financial crisis and recession. Although more than half of GDP is generated
through the service sector, almost half of Bangladeshis are employed in the
agriculture sector with rice as the single-most-important product. Garment
exports, the backbone of Bangladesh’s industrial sector and 80% of total
exports, surpassed $21 billion last year, 18% of GDP. The sector has remained
resilient in recent years amidst a series of factory accidents that have killed
over 1,000 workers and crippling strikes that shut down virtually all economic
activity. Steady garment export growth combined with remittances from overseas
Bangladeshis, which totaled almost $15 billion and 13% of GDP IN 2013, are the
largest contributors to Bangladesh’s current account surplus and record foreign
exchange holdings
|
Source : CIA |
IDENTIFICATION DETAILS
|
||
|
|
||
|
Correct
company Name |
: |
Avenue Trade and
Engineering Ltd. |
|
Head
Office |
: |
House # 35, Sonarga Janapath Road, Sec # 7, Uttara,
Dhaka-1230, Bangladesh. |
|
Tel
No |
: |
88-02-8931641, 8962349, 01713 040252 |
|
Fax
No |
: |
88-02-8962756 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Previous
Address |
: |
House #2 (3rd floor), Road# 13, Sector#
1, Uttara, Dhaka-1230, Bangladesh. |
|
Date/
Year
of Incorporation |
: |
09.02.2006 |
|
Incorporation No. |
: |
C-60425 |
|
Legal
Form (General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole
Proprietorship 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 |
|
July’ 11~June’ 12 |
Tk. 185 Million |
Tk. 23.69 Million |
Tk. 2.20 Million |
|
July’ 12~June’ 13 |
Tk. 225 Million |
Tk. 25.10 Million |
Tk. 3.15 Million |
|
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 |
|
Information
Parted By
|
||
|
|
|
|
|
Name |
: |
Mr. Mohiuddin
Sarker |
|
Designation |
: |
Assist. Manager. |
Locations Details
|
||
|
|
||
|
Operating
Address |
: |
House # 35, Sonarga Janapath Road, Sec # 7, Uttara,
Dhaka-1230, Bangladesh. |
|
Tel
No |
: |
88-02-8931641, 8962349, 01713 040252 |
|
Fax
No |
: |
88-02-8962756 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
3400 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential
Bldg. |
|
|
|
|
|
|
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Warehouse: |
|
|
|
|
|
|
|
Address |
: |
House # 35, Sonarga Janapath Road, Sec # 7, Uttara,
Dhaka-1230, Bangladesh. |
|
Tel
No |
: |
88-02-8931641, 8962349, 01713 040252 |
|
Fax
No |
: |
88-02-8962756 |
|
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
4500 |
Sq. ft. |
|
Branches: |
|
|
|
|
|
|
|
Address |
: |
House# 13,
Road# 7 / D, Sector# 9, Uttara, Dhaka-1230, Bangladesh. |
|
Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
|
Location : |
Owned |
|
|
Rented |
|
|
Leased |
|
Area |
|
Sq. ft. |
|
Employee: |
|
||||||
|
|
|
||||||
|
No.
of Employees |
In
Office |
: |
60 |
In
Factory |
: |
- |
|
|
In Branch: |
: |
- |
Total
|
: |
60 |
||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Mr. ASM Mustafizur
Rahman |
400 |
|
Mrs. Monira Begam |
200 |
|
Mr. Md. Parvez
Rayhan |
300 |
|
Mr. M. Abu Sayed |
100 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. ASM Mustafizur
Rahman |
Managing Director |
|
Mrs. Monira Begam |
Director |
|
Mr. Md. Parvez
Rayhan |
Director |
|
Mr. M. Abu Sayed |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Mohiuddin
Sarker |
|
Job Description |
: |
Assist. Manager. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Asad |
|
Job Description |
: |
Commercial Manager. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Nature
of Activity : |
Indenter |
Ö |
Trader |
Ö |
Installation |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
Ö |
Services |
Ö |
Others |
|
|
Item Dealings In: |
||
|
|
||
|
Products |
: |
Pumps, Cooling Tower, Electrical Motor &
Inverter, Water Treatment Plant, Air Compressor as well as Weighting
Scale. |
|
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 |
: |
Clients List |
: |
Abul Khair Group,
Aps Group, Aman Group, Beximco
Group, Envoy Group |
Local Clients |
: |
N/A |
|
|||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
|||||
|
Trade Markets |
: |
Exports |
: |
N/A |
|
||||||
|
Imports |
: |
China, India. |
|
||||||||
|
|
|
||||||||||
|
Brand Name |
: |
N/A |
|||||||||
|
Certified |
: |
N/A |
|||||||||
|
Auditors |
: |
N/A |
|||||||||
|
Operation Status |
: |
Active. |
|||||||||
|
Member |
: |
Dhaka Chamber of Commerce & Industry. |
|||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized Capital |
: |
Tk. 10 Million |
|
||||||
|
Paid-up Capital |
: |
Tk. 1, 00,000 |
No. of Shares |
: |
1000 |
Share Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk. 25.10 Million |
|
||||||
FINANCIAL STATEMENT- DETAILED
|
|
The subject company
don’t submit update full financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
||
|
Sister Concerns |
: |
United Trade
Canter. |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
Nil |
|
Bank Name |
: |
Exim Bank Ltd. |
|
Bank Address |
: |
Uttara Branch. House # 61/A, Road
# 7, Sector # 7, Uttara Model Town,
Dhaka Phone:88-02-
8919785.8952847 Mobile:88-01712-158562 Fax: 880-2-8952838 Swift: EXBKBDDH015 E-mail: uttara@eximbankbd.com |
|
|
||
|
Bank Name |
: |
Dutch Bangla Bank
Ltd. |
|
Bank Address |
: |
Uttara Branch. Plot No.7, Road No.7,
Sector No.4, Uttara Residential Area, Uttara, Dhaka-1230 |
|
Bank Name |
: |
United Commercial
Bank Ltd. |
|
Bank Address |
: |
Sonargaon Janapath
Branch. House No- 10,
Sonargaon Janapath Sector- 11, Ward
No- 01 Uttara Model Town,
Thana- Uttara Dhaka City
Corporation, Dhaka. Phone : +88-02-8991584 Mobile : 01714-167428 E-Mail :
Routing Number : 245276581 |
|
|
|
|
|
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 which is situated at House # 35, Sonarga
Janapath Road, Sec # 7, Uttara, Dhaka-1230, Bangladesh. The subject company
Assist. Manager Mr. Mohiuddin Sarker welcome us & given us all
information. Its office is situated at Residential area which well decorated |
GENERAL COMMENTS
|
||||
|
Whilst interviewed,
Mr. Mohiuddin Sarker, Assist. Manager of the subject, provided us with a
basic outline of the subject's present state-of-affairs (as given above).The information
provided in this report is based on the information procured from the
subject's file at Official Registry (ROC). |
||||
|
Adopted
Abbreviations: |
|
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
UK Pound |
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.