MIRA INFORM REPORT

 

 

Report Date :

03.06.2014

 

IDENTIFICATION DETAILS

 

Name :

DBL CERAMICS LTD.

 

 

Registered Office :

BGMEA Complex (12th Floor), 23/1 Panthapath Link Road, Kawran Bazar, Dhaka-1215

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

14.03.2009

 

 

Com. Reg. No.:

C-75422

 

 

Legal Form :

Private Co

 

 

Line of Business :

Manufacturer and Exporter of Marble, Glossy Mirror Finishes

 

 

No of Employees :

50 (In Office – 45, In Factory - 5)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Not Started Commercial Production

 

 

Payment Behaviour :

Unknown

 

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Bangladesh

B1

B1

 

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

:

DBL Ceramics Ltd.

Head Office

:

BGMEA Complex (12th Floor), 23/1 Panthapath Link Road, Kawran Bazar, Dhaka-1215, Bangladesh.

Tel No

:

88-02-8140207 -14

Fax No

:

88-02-81402014

E-mail

:

info@dbl-group.com

commercial@dbl-group.com

hrd@ho.dbl-group.com

Website

:

www.dbl-group.com

Date/ Year of Incorporation

:

14.03.2009

Incorporation No.

:

C-75422

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

Not Start Commercial Production

N/A

N/A

N/A

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. Saidur Rahman

Designation

:

Commercial Manager

Contract No

:

88-01755645089

 

 

                                                               Locations Details

 

Operating Address

:

BGMEA Complex (12th Floor), 23/1 Panthapath Link Road, Kawran Bazar,

Dhaka-1215, Bangladesh.

Tel No

:

88-02-8140207 -14

Fax No

:

88-02-81402014

E-mail

:

info@dbl-group.com

saidurrahman@ho.dbl-group.com,

hrd@ho.dbl-group.com

Website

:

www.dbl-group.com

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

2400

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

:

Dhonia, Sreepur, Gazipur, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

2.5

Acores

 

 

Branches:

 

 

 

 

 

Address

:

Ardagonj, Kashimpur, Gazipur, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

45

In Factory

:

5

In Branch:

:

-

Total

:

50

Details:

 

                     

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Jinnat Apparels Limited (Rep. by Abdul Wahed)

12500

Flamingo Fashions Ltd. (Rep. by M. A. Jabbar)

12500

Hamza Textiles Ltd.(Rep. by M. A. Rahim)

12500

Matin Spinning Mills Ltd. (Rep by M. A. Quader)

12500

 

 

DIRECTORS

 

Name

Designation

Mr. M. A. Jabbar

Managing Director

Mr. M. A. Quader

Director

Mr. M. A. Rahim

Director

Mr. Abdul Wahed

Director

 

 

MANAGEMENT

 

Name

:

Mr. Saidur Rahman

Job Description

:

Commercial Manager

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01755645089

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

 

Item Dealings In:

 

Products

:

Marble, Glossy Mirror Finishes.

Production Capacity

:

40,000 square meters per day.

Last Year Production

:

Do.

 

Trading Terms:

 

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

:

Europe, USA & Canada

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

Imports

:

China, India

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active.

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk. 25 Crore

Paid-up Capital

:

Tk. 50, 00,000

    No. of Shares

:

50, 000

Share Value

:

Tk.100.00 Each

 

Main Assets

:

N/A

 

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Jinnat Knitwears Limited                                                                       

Hamza Textiles Ltd                                      

Dulal Brothers Ltd.                          

Fashion Concern Ltd.                      

Flamingo Fashions Ltd.                     

Jinnat Fashions Ltd.

Jinnat Apparels Ltd.                        

Matin Knitwears Ltd.                        

Mymun Textiles Ltd. 

 Fashion Concern LLC, USA.

Parkway Packaging and Printing Ltd                 

Thanbee Print World Ltd.                   

Textile Testing Services Ltd        

Atelier Sourcing Ltd     

Color City Ltd                                 

DB Tex Ltd.                                       

Matin Spinning Mills Ltd   

Natin Jinnat Foundation

Mawna Fashion Ltd

DBL Telecom Ltd

Subsidiary

:

Nil

Name of  The Group

:

DBL Group

 

 

BANKING

 

Bank Name  

:

Shahjalal Islami Bank Ltd.

Bank Address

:

Dilkhusha Branch.

58 Dilkusha C/A, Dhaka-1000

Phone: 88-02-9570795-8, 9570805

Fax:88- 02-9556011

sblmain@shahjalalbank.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 BGMEA Complex (12th Floor), 23/1 Panthapath Link Road, Kawran Bazar, Dhaka-1215, Bangladesh. The subject company Commercial Manager Mr. Saidur Rahman given us all information. Is situated at commercial area which is a well decorated modern office.

 

 

GENERAL COMMENTS

 

Subject is Bangladesh’s ceramic company engaged in Manufacturer & Exporter of Marble, Glossy Mirror Finishes.

The company exports their products Europe, USA & Canada.

 

We recommended that Credit is not recommended C.O.D..

 

 

Adopted Abbreviations:

NA- Not Available

 TK- Bangladeshi Taka

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 59.13

UK Pound

1

Rs. 99.02

Euro

1

Rs. 80.62

 

 

INFORMATION DETAILS

 

Analysis Done by :

KRN

 

 

Report Prepared by :

DPT

 

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.