|
Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SQUARE TOILETRIES LTD. |
|
|
|
|
Registered Office : |
Rupayan Centre (11th Floor), 72 Mohakhali C/A, Dhaka-1212 |
|
|
|
|
Country : |
|
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|
|
|
Date of Incorporation : |
28.04.1994 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Exporter of Coconut Oil, Soap, Baby
Care, Dental Care, Shaving Products, Hygiene Products, Toothpaste, Shampoo |
|
|
|
|
No of Employees : |
3500 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bangladesh |
B1 |
A2 |
|
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 |
: |
SQUARE TOILETRIES LTD. |
|
Head Office |
: |
Rupayan Centre (11th Floor), 72 Mohakhali C/A, Dhaka-1212,
Bangladesh. |
|
Tel No |
: |
880-2-8861531-40 |
|
Fax No |
: |
880-2-8851342 |
|
E-mail |
: |
gmostafa@squaregroup.com |
|
Website |
: |
www.squaretoiletries.com |
|
Date/ Year of Incorporation |
: |
28/04/1994 |
|
Incorporation
No. |
: |
C-25819 |
|
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 |
|
July’ 11~June’
12 |
Tk. 350 Million |
Tk. 30 Million |
Tk. 89.62 Million |
|
July’ 12~June’
13 |
Tk. 445 Million |
Tk. 31.20 Million |
Tk. 125.20 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 |
|
FULLCHECK REPORT DETAILS
|
||
|
Information Parted By |
||
|
Name |
: |
Mr. Golam
Mustafa. |
|
Designation |
: |
Commercial
officer. |
|
Email |
: |
g.mostafa@squaregroup.com |
Locations Details
|
||
|
Operating Address |
: |
Rupayan Centre (11th Floor), 72 Mohakhali C/A, Dhaka-1212,
Bangladesh. |
|
Tel No |
: |
880-2-8861531-40 |
|
Fax No |
: |
880-2-8851342 |
|
E-mail |
: |
gmostafa@squaregroup.com |
|
Website |
: |
www.squaretoiletries.com |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
5600 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
Semi-commercial office Bldg. |
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
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Business Center |
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Home Office |
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|
|
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Residential Bldg. |
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Factory: |
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|
|
|
|
|
|
Address |
: |
Meril Road, Salgaria, Pabna, Bangladesh. |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
45,000 |
Sq. ft. |
|
Corporate Head Office: |
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|||
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|
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|
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||
|
Address |
: |
Square Centre, 48, Mohakhali Commercial
Area, Dhaka-1212, Bangladesh. |
|
||
|
Tel No |
: |
880-2-9861531-40 |
|
||
|
Fax No |
: |
880-2-8828609 |
|
||
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Employee: |
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|||||||
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|||||||
|
No. of Employees |
In Office |
: |
90 |
In Factory |
: |
3410 |
||
|
In Branch: |
: |
- |
Total |
: |
3500 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Mr. Samson H. Chowdhury |
187051 |
|
Dr. Kazi Harunar Rashid |
48,381 |
|
Mr. Tapan Chowdhury |
71619 |
|
Mrs. Jahanara Chowdhury |
15162 |
|
Mr. Samuel H. Chowdhury |
69,294 |
|
Mr. Kazi Iqbal Harun |
47694 |
|
Mrs. Anita Chowdhury |
29631 |
|
Mrs. Ratna Patra |
64,806 |
|
Mr. Dabiruddin Ahmed |
34,650 |
|
Mrs. Jahanara Begum |
43,200 |
|
Mrs. Nargis Gerdous |
25,194 |
|
Mr. Nilufar Ferdous
|
25,194 |
|
Mr. Dilip Kumar Kundo |
18,830 |
|
Mr. Anjan Chowdhury |
69,294 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Samson H. Chowdhury |
Chairman |
|
Mr. Anjan Chowdhury |
Managing director |
|
Dr. Kazi Harunar Rashid |
Director |
|
Mr. Tapan Chowdhury |
Director |
|
Mr. Samuel S. Chowdhury |
Director |
|
Mr. Kazi Iqbal Harun |
Director |
|
Mr. Syed Fahim Munaim |
Director |
|
Mrs. Anita Chowdhury |
Director |
|
Mrs. Ratna Patra |
Director |
|
Mr. Dabiruddin Ahmed |
Director |
|
Mrs. Jahanara Begum |
Director |
|
Mrs. Nargis Gerdous |
Director |
|
Mr. Nilufar Ferdous |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Abu Tayeb Siddiquee. |
|
Job Description |
: |
Sales Manager. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
siddiquee@squaregroup.com |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Khurshid Ahmed Farhad. |
|
Job Description |
: |
Export Manager. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
kafarhad@squaregroup.com |
|
Other details |
: |
N/A |
BUSINESS OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
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Exporter |
Ö |
Importer |
|
Services |
|
Others |
|
|
Range of
Products: |
||
|
|
||
|
Products |
: |
Coconut Oil, Soap, Baby Care, Dental Care, Shaving
Products, Hygiene Products, Toothpaste, Shampoo. |
|
Production Capacity |
: |
N/A |
|
Last Year Production |
: |
N/A |
|
Purchasing Terms: |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
|
Selling Terms : |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
DETAILED DATA
|
|
|||||||||
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
UK, Germany, Australia, Malaysia,
Myanmar, India, Bhutan, UAE, KSA,
Bahrain, Qatar, Kuwait, Singapore. |
Local Clients |
: |
N/A |
|
||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
||||
|
Trade Markets |
: |
Exports |
: |
N/A |
|
|||||
|
Imports |
: |
China, India, Thailand, Singapore. |
|
|||||||
|
|
|
|||||||||
|
Brand Name |
: |
Saaf, Zero Cal, Spring, Sepnil, Xpen,
Chamak, Shakti, Meril, Chaka, Kool, Senora, Magic, Freshgel, White Plus. |
||||||||
|
Certified |
: |
ISO 9001:2008 |
||||||||
|
Auditors |
: |
N/A |
||||||||
|
Operation Status |
: |
Active |
||||||||
|
Member |
: |
Dhaka Chamber of Commerce & Industry, Dhaka |
||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
Tk. 50 Crore. |
|
||||||
|
Paid-up Capital |
: |
Tk.7, 50,00,000 |
No. of Shares |
: |
7, 50, 000 |
Share
Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk. 31.20 Million. |
|
||||||
FINANCIAL STATEMENT- DETAILED
|
|
The subject company don’t submit update full
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
Square pharmaceuticals Ltd. Square InformatiX Ltd. Square Textiles Ltd. Square Spinnings Ltd. Square Consumer Products Ltd. Square Knit fabrics Ltd. Square Fashion Ltd. Square Agro Development and Processing Ltd. Square Hospitals Ltd. Square Herbal and Nutraceuticals Ltd. Mediacom Limited. Unitrend Limited. Squre Yarns Ltd. Mediacom Limited. Unitrend Limited. Squre Yarns Ltd. Square Air Limited. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Square Group. |
BANKING
|
|
|
|
Bank Name
|
: |
Prime Bank Ltd. |
|
Bank Address |
: |
Mohakhali Branch. 69, Mohakhali C/A, Dhaka-1212 Phone:(02) 9882291, 8826483 Fax:88-02-9888873 Telex:632355 PBLMK BJ SWIFT:PRBLBDDH007 Email: pblmohakhali@primebank.com.bd |
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 which is situated
at 48 Mohakhali, Commercial Area, Dhaka-1212, Bangladesh. The subject company
Commercial officer Mr. Golam Mustafa given us all information. Is situated at
commercial area which is a well decorated modern office. |
GENERAL COMMENTS
|
|
The subject company is a well-known reputed company in
Bangladesh. Their products popular to
the local customers. So day by day
the subject companies increase their goodwill. As well as its financial condition, we recommend that credit may
proceed in Large amount. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.77 |
|
|
1 |
Rs.100.72 |
|
Euro |
1 |
Rs.80.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.