|
Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
PHP NOF CONTINUOUS GALVANIZING MILLS LIMITED |
|
|
|
|
Registered Office : |
Php House, 31 Agrabad, C/A Chittagong-4100 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
30.07.2002 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer and Distributor of GP Coil, GP Sheet & CI Sheet.
|
|
|
|
|
No of Employees : |
253 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Bangladesh |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
: |
PHP NOF CONTINUOUS GALVANIZING MILLS LIMITED |
|
Head Office |
: |
Php House, 31 Agrabad, C/A Chittagong-4100,
Bangladesh. |
|
Tel No |
: |
880-31-2511037- 41 |
|
Fax No |
: |
88-031-726982 |
|
E-mail |
: |
info@phpgroupbd.com |
|
Website |
: |
www.phpgroupbd.com |
|
Date/ Year of Incorporation |
: |
30.07.2002 |
|
Incorporation No. |
: |
Ch-4406 |
|
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’ 12~June’
13 |
BDT
325 Million |
BDT 4231.74 Million |
BDT 17.59 Million |
|
July’ 13~June’
14 |
BDT 387 Million |
BDT 4286.65 Million |
BDT 19.73 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. Md. Rashedul Alam |
|
Designation |
: |
Asst. General
Manager. |
|
Contract No |
: |
88-01914326605 |
|
Locations Details |
||
|
|
||
|
Operating Address |
: |
Php House, 31 Agrabad, C/A Chittagong-4100,
Bangladesh. |
|
Tel No |
: |
880-31-2511037- 41 |
|
Fax No |
: |
88-031-726982 |
|
E-mail |
: |
info@phpgroupbd.com |
|
Website |
: |
www.phpgroupbd.com |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
3200 |
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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Factory: |
|
|
|
|
|
|
|
Address |
: |
Borokumira, Sitakunda, Chittagong,
Bangladesh. |
|
Tel No |
: |
88-031-727049 |
|
Fax No |
: |
88-031-724504 |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
48200 |
Sq. ft. |
|
Branches: |
|
|
|
|
|
|
|
Address |
: |
Nil |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
13 |
In Factory |
: |
240 |
||
|
In Branch: |
: |
- |
Total |
: |
253 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS |
|
|
Names of Shareholders |
No. of
Share |
|
Mr. Alhaj Md. Mizanur
Rahman Chowdhury |
100 |
|
Mrs. Tahmina Rahman
Chowdhury |
100 |
|
Mr. Mohd. Mohsin Chowdhury |
966661 |
|
Mr. Mohd. Iqbal Hossain Chowdhury |
966661 |
|
Mr. Mohd. Anowarul
Haque Chowdhury |
966661 |
|
Mr. Mohd. Ali Hossain
Chowdhury |
966661 |
|
Mr. Mohd. Amir Hossain Chowdhury |
966661 |
|
Mr. Mohd. Zahirul
Islam Chowdhury |
966661 |
|
Mr. Mohd. Akhter Parvez Chowdhury |
966661 |
DIRECTORS |
|
|
Name |
Designation |
|
Mr. Alhaj Md. Mizanur
Rahman Chowdhury |
Chairman |
|
Mr. Mohd. Amir Hossain Chowdhury |
Managing Director |
|
Mr. Mohd. Mohsin Chowdhury |
Director |
|
Mr. Mohd. Iqbal Hossain Chowdhury |
Director |
|
Mr. Mohd. Anowarul
Haque Chowdhury |
Director |
|
Mr. Mohd. Ali Hossain
Chowdhury |
Director |
|
Mrs. Tahmina Rahman
Chowdhury |
Director |
|
Mr. Mohd. Zahirul
Islam Chowdhury |
Director |
|
Mr. Mohd. Akhter Parvez Chowdhury |
Director |
MANAGEMENT |
||
|
Name |
: |
Mr. Sayad Md. Rashedul Alam |
|
Job Description |
: |
Asst. General
Manager. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01914326605 |
|
|
|
|
BUSINESS OPERATIONS |
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
|
Services |
|
Others |
|
|
Item Dealings
In: |
||
|
|
||
|
Products |
: |
GP Coil, GP Sheet & CI Sheet. |
|
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 |
: |
China, India, Korea, Japan |
|
|||||||
|
|
|
|||||||||
|
Brand Name |
: |
N/A |
||||||||
|
Certified |
: |
N/A |
||||||||
|
Auditors |
: |
N/A |
||||||||
|
Operation Status |
: |
Active. |
||||||||
|
Member |
: |
Chittagong Chamber of
Commerce & Industry. |
||||||||
CAPITAL STRUCTURE |
|
||||||||
|
Authorized
Capital |
: |
BDT 1000 Million |
|
||||||
|
Paid-up Capital |
: |
BDT 67, 66,82,700 |
No.
of Shares |
: |
67,66,827 |
Share
Value |
: |
BDT100.00Each |
|
|
Main Assets |
: |
BDT 4286.65 Million |
|
||||||
FINANCIAL STATEMENT- DETAILED |
|
The subject company don’t submit update full
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES |
||
|
Sister Concerns |
: |
PHP Corporation Ltd. PHP Cold Rolling Mills Ltd. PHP Steels Limited PHP Galvanizing Mills Ltd. PHP Power Generation Plant Ltd. PHP Fisheries Ltd. Bay Terminal & Distribution Co. Ltd. PHP Latex & Rubber Products Ltd. PHP Float Glass Industries Ltd. PHP Power Company Ltd. Fast Shipping Agency Ltd. PHP Stock & Securities Ltd. Palican Properties Ltd. Daemuddin Hospital University of Information Technology & Science Independent University |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
PHP Group |
BANKING |
|
|
|
Bank Name
|
: |
Standard
Chartered Bank |
|
Bank Address |
: |
Agrabad Branch PHP House, 31 Agrabad
C/A |
|
|
||
|
Bank Name
|
: |
Prime Bank Ltd. |
|
Bank Address |
: |
Agrabad Branch Chittagong Chamber House, 38 Agrabad C/A,
Chittagong-4100 Phone: (031) 727018, 716724-5 Fax: 88-031-718971 Telex: 633028 PBLAG BJ SWIFT: PRBLBDDH015 Email: pblagrabad@primebank.com.bd |
|
Bank Name
|
: |
Mutual Trust Bank Ltd. |
|
Bank Address |
: |
Agrabad Branch Akhtaruzzaman Centre 21-22 Agrabad
C/A, Chittagong Phone: 031-2523287, 031-2524269, 031-2510754, 031-716487 |
|
Bank Name
|
: |
Al-Arafa Islami Bank Ltd. |
|
Bank Address |
: |
Jubilee Road Branch Kader Plaza 221 Jubilee Road Chittagong Ph: 031-637680-1 01819-315480 Fax: 031-637680 |
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 their Head office which is situated at PHP House,
(2nd Floor), 31, Agrabad C/A, Chittagong-
4100, Bangladesh. It is situated at residential area & their office is
well decorated by western type furniture. |
GENERAL COMMENTS |
|
The subject company is a well-known reputed company in this line of
business. Their products popular to
the local customers. So day by day
the subject companies increase their goodwill. As well as its financial
condition |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.96.70 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.