MIRA INFORM REPORT

 

 

Report Date :

02.01.2014

 

IDENTIFICATION DETAILS

 

Name :

DHAKACOM LIMITED.

 

 

Registered Office :

Navana Tower (7th Floor), 45 Gulshan South, Circle-1, Dhaka-1212

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

30-07-2000

 

 

Com. Reg. No.:

C-40869

 

 

Legal Form :

Private Company 

 

 

Line of Business :

Internet Service Providers of Internet Connectivity, Data Connectivity, IP Phone, IPLC, Domain Registration, Web Hosting & Development, Security Solution, Wi-Fi, Hotspot Solution      

 

 

No. of Employees :

2000

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 45000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

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, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

EXECUTIVE SUMMARY

 

IDENTIFICATION DETAILS

 

Correct company Name

:

DHAKACOM LIMITED.

Head Office

:

Navana Tower (7th Floor), 45 Gulshan South, Circle-1, Dhaka-1212, Bangladesh.

Tel No

:

88- 02- 8819252, 09611123123

Fax No

:

88- 02- 8819221

E-mail

:

info@dhakacom.com,admin@dhakacom.com, marketing@dhakacom.com

Website

:

www.dhakacom.com

Date/ Year of Incorporation

:

30-07-2000

Incorporation No.

:

C-40869

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. 82 Million

Tk. 35 Million

Tk. 3.40 Million

July’ 12~June’ 13

Tk. 95 Million

Tk. 36 million

Tk. 4.95 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

 

 

INQUIRER

 

 

 

SPECIFIED CREDIT –TRADE FINANCE

 

Recommended Credit Range

:

USD 45000 based on 90 days.             

 

FULLCHECK REPORT DETAILS

 

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Fokhrul Alam.

Designation

:

C. T.O

Contract No

:

88-01713033085

 

 

                                                               Locations Details

 

Operating Address

:

Navana Tower (7th Floor), 45 Gulshan South, Circle-1, Dhaka-1212, Bangladesh.

Tel No

:

88- 02- 8819252, 09611123123

E-mail

:

info@dhakacom.com,admin@dhakacom.com, marketing@dhakacom.com

Fax No

:

88- 02- 8819221

Website

:

www.dhakacom.com

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

4500

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Branches:

 

 

 

 

 

Address

:

Chittagong Office IFCO Complex (9th Floor) 1147/A, CDA AvenueEast Nasirabad, Chittagong, Bangladesh.   

Tel No

:

88-03731000120, 09611000054

Fax No

:

Nil

Branches2:

 

 

Address

:

Sylhet Office Irfan Monjil Backside of Shihab Shopping Complex East Zindabazar, Sylhet, Bangladesh                              

Tel No

:

88-09611000060, 01552424129

Fax No

:

Nil

Branches3:

 

 

Address

:

Jessore Office Ishahak Tower (4th floor) 43, M K Road Jessore, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

60

In Factory

:

1940

In Branch:

:

-

Total

:

2000

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. M. A. Hashem

                                   150

Mr. Showkat Aziz

                                   850

 

 

DIRECTORS

 

Name

Designation

Mr. M. A. Hashem

Chairman

Mr. Showkat Aziz

Managing Director

 

 

MANAGEMENT

 

Name

:

Mr. Fokhrul Alam.

Job Description

:

C. T.O

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01713033085

 

 

 

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Internet Service Providers

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

Range of Products:

 

Products

:

Internet Connectivity, Data Connectivity, IP Phone, IPLC, Domain Registration, Web Hosting & Development, Security Solution, Wi-Fi, Hotspot Solution      

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

:

N/A

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active.

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk. 50 million

 

Paid-up Capital

:

Tk. 1, 00,000

    No. of Shares

:

1, 000

Share Value

:

Tk.100.00Each

Main Assets

:

Tk. 36 Million.

 

 

FINANCIAL STATEMENT- DETAILED

 

The subject company don’t submit update full financial figure to local registry office.

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Star Particle Board Mills Ltd.

Danish Condensed Milk Bangladesh Limited

Danish Food Products

Danish Milk Bangladesh Limited

Amber Cotton Mills Limited

Amber Pulp and Paper Mills Limited

Partex Furniture Industries Limited

Danish Distribution Network Limited

Partex Plastics Limited

Rubel Steel Mills Limited  

Partex Real Estate Limited

Star Vegetable Oil Mills Limited

Star Coconut Mills Limited

Partex Beverage Ltd.

Corvee Maritime Co. Limited

Fotoroma Limited

Partex Limited

Hashem Corporation (Pvt.) Limited

Ferrotechnic Limited

Partex Energy Ltd.

Partex Jutse Mills Ltd.

Partex Builders Ltd.

Subsidiary

:

N/A

Name of  The Group

:

Pertex Group.

 

 

BANKING

 

Bank Name  

:

UCBL Bank Ltd.

Bank Address

:

Gulshan Branch

Concord  I.K. Tower (1st Floor),

Plot No. CEN (A)-2, North Avenue,

Gulshan-2, Dhaka, bangladesh.

Tel: 88- 01711-888358

 

Bank Name  

:

Brac Bank Ltd.

Bank Address

:

Gulshan Branch.

342, DANIA BISSAW ROAD, JATRABARI, DHAKA

Phone: 7554441-42

Fax: 7554443

 

 

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

 

The subject company is a private limited company engaged in Freight Forwarding Company. Its Registrar office is situated Navana Tower (7th Floor), 45 Gulshan South, Circle-1, Dhaka-1212, Bangladesh. They get good support from their buyers.

 

Mr. Showkat Aziz -Managing Director of the company. He is very experienced businessman in this line of trade.

 

We checked the local registry office & found that information’s.

 

The company is good for normal business engagements.

 

 

GENERAL COMMENTS

 

Based on the financial statements, SC’s financial performance appears to be average. SC has been in its line of business for about 13 years. Taking into account its long-standing history, reputation in the market, 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.61.93

UK Pound

1

Rs.102.39

Euro

1

Rs.85.12

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.