|
Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAHIMAFROOZ GLOBATT LIMITED |
|
|
|
|
Registered Office : |
Globe Chamber (1st Floor), 104 Motijheel C/A, Dhaka-1000 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
09.09.2007 |
|
|
|
|
Com. Reg. No.: |
C-68308 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer & Distributor of Industrial batteries such as Automotive
Batteries, Maintenance Free, Sealed, Lead Acid, Ca-Ca & Automotive – 32
AH to 200 AH Inverter – 120 AH to 180 AH Tractor – 80 AH to 100 AH |
|
|
|
|
No of Employees : |
620 (20 in Office & 600 in Factory) |
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 – 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 |
: |
Rahimafrooz Globatt Limited |
|
Head
Office |
: |
Globe Chamber (1st Floor), 104 Motijheel
C/A, Dhaka-1000, Bangladesh. |
|
Tel
No |
: |
88-02-9565238 |
|
Fax
No |
: |
88-02-9554160 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/
Year
of Incorporation |
: |
09.09.2007 |
|
Incorporation No. |
: |
C-68308 |
|
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. 251 Million |
Tk. 385 Million |
Tk. 14.29 Million |
|
July’ 12~June’ 13 |
Tk. 278 Million |
Tk. 400.00 Million |
Tk. 18.25 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 |
|
InformAtion
Parted By
|
||
|
|
|
|
|
Name |
: |
Mr. Iftekhar
Ahmed |
|
Designation |
: |
Human Resources
Officer |
|
Contact No |
: |
N/A |
Locations Details
|
||
|
|
||
|
Operating
Address |
: |
Globe Chamber (1st Floor), 104 Motijheel
C/A, Dhaka-1000, Bangladesh. |
|
Tel
No |
: |
88-02-9565238 |
|
Fax
No |
: |
88-02-9554160 |
|
E-mail |
: |
|
|
Website |
: |
|
|
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. |
|
|
|
|
|
|
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Factory: |
|
|
|
|
|
|
|
Address |
: |
Plot Nos.
29-33, 54-58, Ishwardi Export, Processing Zone (IEPZ), Pakshey, Pabna,
Bangladesh. |
|
Tel
No |
: |
N/A |
|
Fax
No |
: |
N/A |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
2.5 Acores |
|
Corporate
Office : |
||
|
Address |
: |
ABC Heritage
(4th Floor), Plot 2 & 4, Jashimuddin Avenue, Sector# 3, Uttara
C/A, Dhaka-1230, Bangladesh. |
|
Tel
No |
: |
N/A |
|
Fax
No |
: |
88-02-8911415 |
|
Branches: |
|
|
|
Address |
: |
705
Nakhalpara, Tejgaon, Dhaka-1215, Bangladesh. |
|
Tel
No |
: |
88-02-9113696, 9113522 |
|
Fax
No |
: |
88-02-8115305, 9126968 |
|
Branches: |
|
|
|
Address |
: |
Arzed Chamber 13, Bir Uttam AK Khandakar Road Mohakhali C/A, Dhaka-1212,
Bangladesh. |
|
Tel
No |
: |
88-02-9893442-3 |
|
Fax
No |
: |
880 2 8827780 |
|
Branches: |
|
|
|
Address |
: |
11, Mohakhali
C/A, (5th Floor), Dhaka-1212, Bangladesh. |
|
Tel
No |
: |
88-02-8858021, 8834059, |
|
Fax
No |
: |
88-02-8858023 |
|
Branches: |
|
|
|
Address |
: |
260/B Tejgaon
I/A, Dhaka-1205, Bangladesh.
|
|
Tel
No |
: |
88-02-8878525-7 |
|
Fax
No |
: |
88-02-8878566 |
Employee
|
|
||||||
|
|
|
||||||
|
No.
of Employees |
In Office |
: |
20 |
In Factory |
: |
600 |
|
|
In Branch: |
: |
- |
Total
|
: |
620 |
||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Globatt Holdings
Ltd |
25, 93,620 |
|
Rahimafrooz
Batteries Ltd |
3, 60,380 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Monowar M. Moin |
Managing Director |
|
Mr. Md. Firoz Rahim
|
Director |
|
Mr. Auaz Bahadur
Khan |
Director |
|
Mr. Sonopber Fasihi |
Director |
|
Mr. Khalid S.
Quadir |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Iftekhar Ahmed |
|
Job Description |
: |
Human Resources
Officer |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
Manufacturer & Distributor of Industrial batteries
|
Products |
: |
Automotive
Batteries, Maintenance Free, Lead Acid, Ca-Ca, Automotive – 32 AH to 200 AH
Inverter – 120 AH to 180 AH Tractor – 80 AH to 100 AH |
|
Production
Capacity |
: |
2.5 million Units per year. |
|
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 |
|
Cash |
|
Others |
|
|
|||
|
|
Credit
: |
Ö |
30
days |
|
60
days |
Ö |
90
days |
|
|
days |
DETAILED
DATA
|
|
||||||||||
|
Trade Reference & Related Parties |
: |
Overseas Clients |
: |
North America, Europe, Asia, South America, Africa, Australia etc. |
Local Clients |
: |
N/A |
|
|||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
|||||
|
Trade Markets |
: |
Exports |
: |
N/A |
|
||||||
|
Imports |
: |
China, India,
Japan, Singapore, Germany. |
|
||||||||
|
|
|
||||||||||
|
Brand Name |
: |
Globatt, Volta,
Optus, Delta, Lucas, Spark, RZ |
|||||||||
|
Certified |
: |
ISO 9001:2008, ISO
14001:2004, OHSAS 18001 |
|||||||||
|
Auditors |
: |
N/A |
|||||||||
|
Operation Status |
: |
Active |
|||||||||
|
Member |
: |
Dhaka Chamber of Commerce & Industry |
CAPITAL
STRUCTURE
|
|
|||||||
|
Authorized Capital |
: |
Tk.50,00,00,000 |
|
|||||
|
Paid-up Capital |
: |
Tk.2954,00,000 |
No. of Shares |
: 29,54,000 |
Share Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk.400.00 Million |
|
|||||
FINANCIAL
STATEMENT- DETAILED
|
|
The subject company
don’t submit update financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
Rahimafrooz
Renewable Energy Ltd. Rahimafrooz Super
Stores Limited Rahimafrooz
Distribution Limited Rahimafrooz
(Bangladesh) Limited Rahimafrooz
(Batteries) Ltd. Rahimafrooz Energy
Services Ltd. RZ Power Systems
Limited Rahimafrooz CNG
Ltd. Rahimafrooz
Accumulator Ltd. Rahimafrooz Globatt
Ltd. Rahimafrooz Renewable
Energy Ltd Excel Resources
Ltd. Rahimafrooz
Superstores Ltd. Rahimafrooz Gastech
Ltd. Rural Services
Foundation Metronet Bangladesh
Ltd. Core Knowledge Ltd. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Rahimafrooz Group |
BANKING
|
|
|
|
Bank Name |
: |
Islami Bank
Bangladesh Limited |
|
Bank Address |
: |
Foreign Exchange
Branch, 41 Dilkusha C/A,
Dhaka-1000 Phone: (02)
9565657, 9569413, 9552444 Mobile:
01711693906, 01713164489 Fax: (02) 9569412 Email:
fex@islamibankbd.com |
|
|
||
|
Bank Name |
: |
Hong Kong Shanghai
Banking Corporation |
|
Bank Address |
: |
Dhaka Main Office Anchor Tower, 108,
Bir Uttam C R Dutta Road, Dhaka - 1205 Telephone:
88-02-9660536-43 Facsimile: 8802-
9660554, 9669457 |
|
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 Globe Chamber
(1st Floor), 104 Motijheel C/A, Dhaka-1000, Bangladesh. The subject company
Human Resources Officer Mr. Iftekhar Ahmed 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 company in Bangladesh. Their products popular to the local
customers. So day by day the subject
companies increase their goodwill. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.14 |
|
UK Pound |
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
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.