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Report Date : |
30.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
KHULNA SHIPYARD
LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
17.06.1965 |
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Com. Reg. No.: |
C-2374 |
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Legal Form : |
Public Ltd. (but not listed) |
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Line of Business : |
·
Subject is a
Ship Building and Repair Organization Subject also undertakes Marine Services
as well as manufacturing of
Engineering Items in order to support country's industry including Power
Sector. Subject product ranges includes Steel Fire Fighting Boat Aluminium
Harbour Patrol Boat (Cgs Atrai) Bangladesh Navy Floating Crane (Bnfc
Balaban) |
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No of Employees : |
126 (8 in Office & 118 in Factory) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Moderate High
Risk |
C1 |
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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
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Correct
company Name |
: |
Khulna Shipyard Ltd. |
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Head
Office |
: |
Bangladesh Navy, Labanchara, Mongla Port, Khulna
-9201, Bangladesh. |
|
Tel
No |
: |
880-41-720003, 720738, 720739, 01711785430 |
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Fax
No |
: |
880-41-720404 |
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E-mail |
: |
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|
Website |
: |
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|
Year
of Incorporation |
: |
17/06/1965 |
|
Incorporation No. |
: |
C-2374 |
|
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
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|||
|
Year |
Turnover/ Sales |
Assets |
Income |
|
July’ 11~June’ 12 |
Tk. 1450 Million |
Tk. 1100 Million |
Tk. 60.90 Million |
|
July’ 12~June’ 13 |
Tk. 1631 Million |
Tk. 1264 Million |
Tk. 72.75 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 |
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Information
Parted By
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Name |
: |
Mr. M A R Khan |
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Designation |
: |
General Manager
(Admin) |
Locations Details
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Operating
Address |
: |
Bangladesh Navy, Labanchara, Mongla Port, Khulna -9201,
Bangladesh. |
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Tel
No |
: |
880-41-720003, 720738, 720739, 01711785430 |
|
Fax
No |
: |
880-41-720404 |
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E-mail |
: |
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Website |
: |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
6500 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
Ö |
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Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential
Bldg. |
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Shipyard
Address: |
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Address |
: |
Bangladesh
Navy, Labanchara, Mongla Port, Khulna 9201, Bangladesh. |
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Tel
No |
: |
Nil |
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Fax
No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
68.97 |
Acores |
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Employee: |
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No.
of Employees |
In
Office |
: |
8 |
In
Factory |
: |
118 |
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In Branch: |
: |
- |
Total
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: |
126 |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
|
State Own |
100% |
DIRECTORS
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Name |
Designation |
|
Mr. M Farid Habib |
Chairman |
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Mr. Syed Irshad
Ahmed |
Managing Director |
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Mr. A M M M
Aurangzeb Chowdhury |
Director |
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Mrs. Khaleda Parvin |
Director |
|
Mr. Md. Alauddin |
Director |
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Mr. S A M A Abedin |
Director |
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Mr. M Zakiur Rahman
Bhuiyan |
Director |
|
Mr. Dr. Md Shadiqul
Bari |
Director |
MANAGEMENT
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||
|
Name |
: |
Mr. M A R Khan |
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Job Description |
: |
General Manager
(Admin) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. M S Karim |
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Job Description |
: |
General Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
·
Subject is a Ship
Building and Repair Organization
Subject also undertakes Marine Services as well as
Manufacturing of Engineering Items in order to support country's industry
including Power Sector.
Subject product ranges includes
Steel Fire Fighting Boat
Aluminium
Harbour Patrol Boat (Cgs Atrai)
Bangladesh Navy Floating Crane (Bnfc Balaban)
DETAILED DATA
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Trade Reference & Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
China, India |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk. 500 Million |
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Paid-up Capital |
: |
N/A |
No. of Shares |
: |
N/A |
Share Value |
: |
Tk.100.00Each |
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Main Assets |
: |
Tk. 1264 Million |
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FINANCIAL STATEMENT- DETAILED
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The subject company
don’t submit update full financial figure to local registry office. |
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Bank Name |
: |
Sonali Bank Ltd. |
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Bank Address |
: |
Khulna Branch. |
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||
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Bank Name |
: |
Bangladesh Krishi
Bank
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Bank Address |
: |
Khulna Branch. |
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Bank Name |
: |
Shahjalal Islami
Bank Ltd.
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Bank Address |
: |
72 KDA Avenue,
Khulna Phone: 88-041-2830458-60 Fax: 88-041-2830457 |
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Bank Name |
: |
Trust Bank
Ltd.
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Bank Address |
: |
Khulna Branch.
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Dishonored
Checks |
: |
No Record
Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record Found |
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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 Bangladesh Navy,
Labanchara, Mongla Port, Khulna -9201, Bangladesh. The subject company
General Manager Mr. M A R Khan 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 state-own company in Bangladesh. Their services 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. |
Adopted
Abbreviations:
|
NA- Not Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
UK Pound |
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
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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.