|
Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
DHAKA SOUTHERN POWER GENERATIONS LTD. |
|
|
|
|
Registered Office : |
Walsow Tower (2nd Floor), 21& 23 Kazi Nazrul Islam Avenue,
Dhaka-1000 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
25.06.2012 |
|
|
|
|
Com. Reg. No.: |
C- 102741 |
|
|
|
|
Legal Form : |
Private Co |
|
|
|
|
Line of Business : |
Subject is mainly
engaged in producing Electricity. |
|
|
|
|
No of Employees : |
65 |
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 : |
Under Construction |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bangladesh |
B1 |
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 |
: |
DHAKA SOUTHERN POWER GENERATIONS LTD. |
|
Head Office |
: |
Walsow Tower (2nd Floor), 21& 23 Kazi Nazrul Islam Avenue, Dhaka-1000, Bangladesh. |
|
Tel No |
: |
88-02-9665338-40 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
Kabir.dhakapower@gmail.com |
|
Website |
: |
Nil |
|
Date/ Year of Incorporation |
: |
25/06/2012 |
|
Incorporation
No. |
: |
C- 102741 |
|
Commercial
Operation Date |
: |
Under Constriction |
|
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 |
|
New Company |
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. Md. Kabir
Hossain |
|
Designation |
: |
88-01730709683 |
|
Contract No |
: |
Manager (Plant) |
|
Locations Details |
||
|
|
||
|
Operating Address |
: |
House#192/A (3rd floor), Road#1(Eastern Road),New DOHS Mohakhali,
Dhaka-1212, Bangladesh. |
|
Tel No |
: |
88-02-9860744 |
|
Fax No |
: |
N/A |
|
E-mail |
: |
Kabir.dhakapower@gmail.com |
|
Website |
: |
Nil |
|
Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
2400 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
|
|
Semi-commercial office Bldg. |
Ö |
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential Bldg. |
|
|
|
|
|
|
Plant Address: |
||
|
|
|
|
|
Address |
: |
Daulatpur, Koilile, Nababganj, Dhaka,
Bangladesh |
|
Tel No |
: |
N/A |
|
Fax No |
: |
N/A |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
6.98 |
Acores |
|
Branches: |
|
|
|
|
|
|
|
Address |
: |
Doreen Tower (Level # 03), 6-A, North
Avenue, Gulshan-2, Dhaka-1212,
Bangladesh
|
|
Tel No |
: |
88-02-988 2019-20 |
|
Fax No |
: |
Nil |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
|
In Factory |
: |
|
||
|
In Branch: |
: |
|
Total |
: |
65 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Rupali Engineers And Traders Ltd. |
59000 |
|
Doreen Power Generations and Systems Ltd. |
18180 |
DIRECTORS
|
|
|
Name |
Designation |
|
Tahzeeb Alam Siddique-
|
Managing Director |
|
Ms. Anjabee –Alam Siddique |
Director |
|
Mr. Abu Sayeed Al Mahmood Swapon |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Kabir Hossain |
|
Job Description |
: |
Manager (Plant) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
Kabir.dhakapower@gmail.com |
|
Other details |
: |
88-01730709683 |
BUSINESS
OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
|
Exporter |
|
Importer |
|
Suppliers |
Ö |
Others |
|
|
Range of
Products: |
||
|
|
||
|
Products |
: |
Electricity |
|
Production Capacity |
: |
55MW |
|
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, Europe |
|
|||||||
|
|
|
|||||||||
|
Brand Name |
: |
Nil |
||||||||
|
Certified |
: |
Nil |
||||||||
|
Auditors |
: |
N/A |
||||||||
|
Operation Status |
: |
Active |
||||||||
|
Member |
: |
N/A |
||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
Tk.10,00,00,000,00 |
|
||||||
|
Paid-up Capital |
: |
Tk.2,40,80,000 |
No. of Shares |
: |
240800 |
Share
Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
N/A |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
New Company |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
||
|
Sister Concerns |
: |
Doreen Garments Limited Doreen Attire Ltd. Doreen Hotels &Resorts Ltd Doreen Fashion Ltd Doreen Development Ltd. Doreen Power Generations and Systems Ltd Doreen Power House and Technologies Ltd Seven Horse Cement Eastern Cement Industries Limited S.O.B Apparels Ltd Nurun Nahae Textiles Ltd Nur Nabi Textiles Ltd Nas Dyeing & Finishing Ltd Doreen Washing ltd Doreen Tower Doreen Hotel Doreen Executive Suites Doreen Pharmaceuticals Ltd Doreen Garments Limited |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Siddique Group of Industries |
BANKING
|
|
|
|
Bank Name
|
: |
NCC Bank Ltd |
|
Bank Address |
: |
Gulshan Branch Gulshan Branch 85 Gulshan Avenue, gulshan, Dhaka Tel: 88-02-8827743, 9880221, 8818093,
9899773, 8831346 Fax: 88-02-8818093 Email: gulshan@nccbank.com.bd Swift: NCCLBDDHGSB |
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 Operational Office
which is situated at House#192/A (3rd floor), Road#1(Eastern Road), New DOHS Mohakhali,
Dhaka-1212, Bangladesh. It is situated at residential area but well decorated
office. |
GENERAL
COMMENTS
|
|
Established in
25/06/2012, Subject is mainly engaged in producing Electricity. SC’s is now
under construction. |
|
Adopted Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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.