|
Report Date : |
08.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
K. Y. C. R. COIL INDUSTRIES LTD |
|
|
|
|
Registered Office : |
255 Nasirabad I/A, Baizid Bostami Road, 4211, Chittagong |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
04.11.1995 |
|
|
|
|
Legal Form : |
Public (But Not Listed) |
|
|
|
|
Line of Business : |
Manufacturer and Distributor of CR Coil, CI Sheet, Galvanizing Sheet, Plates |
|
|
|
|
No of Employees : |
550 |
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 |
: |
K. Y. C. R. COIL INDUSTRIES LTD |
|
Head Office |
: |
255 Nasirabad I/A, Baizid Bostami Road, 4211, Chittagong, Bangladesh. |
|
Tel No |
: |
88-031-681241-4, 682474-8, 2580341-5 |
|
Fax No |
: |
88-031-681398, 682836 |
|
E-mail |
: |
info@kdsgroup.net, |
|
Website |
: |
www.kdsgroup.net |
|
Date/ Year of Incorporation |
: |
04.11.1995 |
|
Incorporation No. |
: |
CH-2071 |
|
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 3850.00 Million |
BDT 5521.50 Million |
BDT 389.00 Million |
|
July’ 13~June’
14 |
BDT 4829.38 Million |
BDT 6961.90 Million |
BDT 398.74 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
|
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|
Information Parted By |
||
|
|
|
|
|
Name |
: |
Mr. Kamruddin |
|
Designation |
: |
Executive
Officer. |
|
Contract No |
: |
88-01730787175 |
|
Locations Details |
||
|
|
||
|
Operating Address |
: |
255 Nasirabad I/A, Baizid Bostami Road, 4211, Chittagong, Bangladesh. |
|
Tel No |
: |
88-031-681241-4, 682474-8, 2580341-5 |
|
Fax No |
: |
88-031-681398, 682836 |
|
E-mail |
: |
info@kdsgroup.net, garment@kdsgroup.net omar.farouque@kdsgroup.net |
|
Website |
: |
www.kdsgroup.net |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
2400 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
|
|
Semi-commercial
office Bldg. |
|
|
|
Retail shop |
|
|
Industrial Park |
Ö |
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential Bldg. |
|
|
|
|
|
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Factory: |
|
|
|
|
|
|
|
Address |
: |
Jouramtall, Boro Kumira, Sitakunda,
Chittagong, Bangladesh. |
|
Tel No |
: |
88-031-713127, 7120803, 8821722 |
|
Fax No |
: |
88-031-720817, 8825218 |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
500940 |
Sq. ft. |
|
Branches: |
|
|
|
|
|
|
|
Address |
: |
House No# 63, Road No# 04, Block# C, Banani,
Dhaka-1213, Bangladesh. |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
35 |
In Factory |
: |
495 |
||
|
In Branch: |
: |
- |
Total |
: |
550 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Mr. Salim Rahman |
18000000 |
|
Mr. Khalilur Rahman |
12000000 |
|
Mrs. Tahsina Rahman |
10000000 |
|
IY Steel Industries Ltd. |
3000000 |
|
KDS Garment Industries Ltd. |
22240000 |
|
KDS Hi-Tech Garments (BD) Ltd. |
28000000 |
|
KY Steel Mills Ltd. |
37000000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Salim Rahman |
Chairman |
|
Mr. Khalilur Rahman |
Managing Director |
|
Mrs. Tahsina Rahman |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Moddassar
Ahmed Siddique FCA |
|
Job Description |
: |
CFO |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
- |
|
|
|
|
|
Name |
: |
Mr. Shuvroto Dev |
|
Job Description |
: |
HR Officer. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mr. Kamruddin |
|
Job Description |
: |
Executive
Officer. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01730787175 |
BUSINESS OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
|
Services |
|
Others |
|
|
Range of
Products: |
||
|
|
||
|
Products |
: |
CR Coil, CI Sheet, Galvanizing Sheet, Plates |
|
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, Thailand. |
|
|||||||
|
|
|
|||||||||
|
Brand Name |
: |
N/A |
||||||||
|
Certified |
: |
N/A |
||||||||
|
Auditors |
: |
N/A |
||||||||
|
Operation Status |
: |
Active. |
||||||||
|
Member |
: |
N/A |
||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
BDT 5000 Million |
|
||||||
|
Paid-up Capital |
: |
BDT 1, 30,24,00,000 |
No. of Shares |
: |
13,02,40,000 |
Share
Value |
: |
BDT10.0Each |
|
|
Main Assets |
: |
BDT 6961.90 Million |
|
||||||
FINANCIAL STATEMENT- DETAILED
|
|
The subject company don’t submit update full
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
||
|
Sister Concerns |
: |
KDS Paper and Board Mills Ltd. KDS Yarn Dyeing Industries Ltd. KDS Communication Limited KDS Spinning Mills Ltd. KDS Knitting Industries Ltd. KDS Properties Ltd. KDS Cotton Poly Thread Industries Ltd. Kds Printing Industries Ltd. KDS Information Technologies Co. & Ltd KDS Apparels Ltd. KDS Hi-Tech Garments (BD) Ltd KDS QAC Limited KDS Textile Mills Ltd. KDS Fashions Ltd. KDS Packaging Industries Ltd. KDS Minerals Ltd. KDS Energy Ltd. KDS Logistics Ltd. KY Steels Mills Ltd Vortex Multi Ind. Ltd. KIY steel Ind. Ltd. Sykes Securities Ltd. Steel Accessories Ltd. |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
KDS Group |
BANKING
|
|
|
|
Bank Name
|
: |
Standard Bank
Ltd. |
|
Bank Address |
: |
Asadganj Branch, Ram Joy Mahajan Lane P.O.-G.P.O Chittagong. P.S.-Kotwali Chittagong-4000 Tel: 637728 Email: br2783@bangla.net |
|
|
||
|
Bank Name
|
: |
Agrani Bank Ltd.
|
|
Bank Address |
: |
Asadganj Branch, Ram Joy Mahajan Lane P.O.-G.P.O Chittagong. P.S.-Kotwali Chittagong-4000 Tel: 637728 Email: br2783@bangla.net |
|
Bank Name
|
: |
One Bank Ltd. |
|
Bank Address |
: |
Asadganj Branch, Ram Joy Mahajan Lane P.O.-G.P.O Chittagong. P.S.-Kotwali Chittagong-4000 Tel: 637728 Email: br2783@bangla.net |
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 255 Nasirabad I/A, Baizid Bostami Road, 4211, Chittagong,
Bangladesh. It is situated at industrial 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 moderate amounts. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.96.73 |
|
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.