|
Report No. : |
314735 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SEA TRADE FERTILIZER LTD |
|
|
|
|
Registered Office : |
Uttara Bank Bhaban (5th Floor), 90, Motijheel C/A, Dhaka- 1000 |
|
|
|
|
Country : |
Bangladesh
|
|
|
|
|
Date of Incorporation : |
12.11.1991 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Repacking, Distributor and Importer of Insecticides, Fungicides, Herbicide, Fertilizer |
|
|
|
|
No. of Employees : |
500 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Bangladesh |
A2 |
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 |
: |
SEA TRADE FERTILIZER LTD |
|
Head Office |
: |
Uttara Bank Bhaban (5th Floor), 90, Motijheel C/A, Dhaka- 1000,
Bangladesh |
|
Tel No |
: |
88-02-9551381, 9554236, 9567183 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
stfl.ag@gmail.com |
|
Website |
: |
www.seatradefertilizer.com |
|
Date/ Year of Incorporation |
: |
12/11/1991 |
|
Incorporation No. |
: |
C-21373 |
|
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 |
FINANCIALS- SUMMARY
|
|||
|
Year |
Turnover/
Sales |
Assets |
Income |
|
July’ 12~June’
13 |
BDT 481 Million |
BDT 381
Million |
BDT 16.83
Million |
|
July’ 13~June’
14 |
BDT 562
Million |
BDT 425
Million |
BDT 20.23
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 |
|
FULLCHECK
REPORT DETAILS
|
||
|
Information Parted By |
||
|
|
|
|
|
Name |
: |
Mr. Robiul Islam |
|
Designation |
: |
General Manager
(Commercial) |
|
Contract No |
: |
N/A |
|
Locations Details |
||
|
Operating Address |
: |
Uttara Bank Bhaban (5th Floor), 90, Motijheel C/A, Dhaka- 1000, Bangladesh |
|
Tel No |
: |
88-02-9551381, 9554236, 9567183 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
stfl.ag@gmail.com |
|
Website |
: |
www.seatradefertilizer.com |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
|
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 |
: |
89/90, Tongi I/A, Cherag Ali, Tongi,
Gazipur, Bangladesh |
|
Tel No |
: |
N/A |
|
Fax No |
: |
N/A |
|
Owned |
|
|
Rented |
|
|
Leased |
Ö |
Area |
50,000 |
Sq. ft. |
|
Branches: |
|
|
|
Address |
: |
Islam Chamber (8th Floor), 125/A, Motijheel
C/A, Dhaka-1000, Bangladesh |
|
Tel No |
: |
88-02-9565404, 9553641, 9567203 |
|
Fax No |
: |
88-02-8613476, 9566311 |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
20 |
In Factory |
: |
480 |
||
|
In Branch: |
: |
|
Total |
: |
500 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Mr. Azharul Islam
|
500 |
|
Mr. Iftekharul Islam |
500 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Azharul Islam
|
Chairman
|
|
Mr. Iftekharul Islam |
Managing Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Robiul Islam |
|
Job Description |
: |
General Manager
(Commercial) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
BUSINESS
OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Trader |
|
Repacking |
Ö |
Distributor |
Ö |
|
|
|
|
|||||||
|
|
Exporter |
|
Importer |
Ö |
Services |
|
Others |
|
|
Range of
Products: |
||
|
|
||
|
Products |
: |
Insecticides, Fungicides, Herbicide,
Fertilizer |
|
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 |
: |
China, India |
|
|||||||
|
Brand Name |
: |
Nil |
||||||||
|
Certified |
: |
Nil |
||||||||
|
Auditors |
: |
Nil |
||||||||
|
Operation Status |
: |
Active |
||||||||
|
Member |
: |
Bangladesh Crop Protection Association |
||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
BDT 80 Million |
|
||||||
|
Paid-up Capital |
: |
BDT 100000 |
No. of Shares |
: |
1000 |
Share
Value |
: |
BDT100.00Each |
|
|
Main Assets |
: |
BDT 425 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
The subject company don’t submit update
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
Alib INC Aftab CNG Ltd. A.G. Companies Aftab Foods Ltd. Frozen Foods Ltd. Milnar Pumps Ltd. Alib Holdings INC Aftab Holdings Ltd. Alib Properties INC Aftab Garments Ltd Aftab Properties Ltd. Alib International INC Aftab Global Textiles Ltd Aftab Global Textiles Ltd Alib Hotels & Resorts INC Aftab Fertilizer Chemicals Ltd. Aftab Milk & Milk Products Ltd |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Aftab Group |
BANKING
|
|
|
|
Bank Name
|
: |
National Credit & commerce Bank
Ltd |
|
Bank Address |
: |
Motijheel Main Branch Motijheel C/A, Dhaka, Bangladesh Tel: 9561902-4, 9567000,9566281 Fax: 7167288 |
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 Uttara Bank Bhaban (5th Floor), 90, Motijheel C/A, Dhaka- 1000,
Bangladesh. It is situated at Commercial area. |
GENERAL
COMMENTS
|
|
The subject
company is engaged in Importer, Repacking & Distributor. It is reputed
company in this line of business. We recommended that Credit can proceed
normally in Moderate amount. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.45 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.