MIRA INFORM REPORT

 

 

Report No. :

316420

Report Date :

14.04.2015

 

IDENTIFICATION DETAILS

 

Name :

DHAKA POWER DISTRIBUTION COMPANY LIMITED

 

 

Registered Office :

BidyutBhaban, 1 Abdul Ghani Road, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

25.10.2005

 

 

Com. Reg. No.:

C-59458

 

 

Legal Form :

State-owned Co

 

 

Line of Business :

Distributor of Electricity

 

 

No. of Employee :

5731

 

 

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

B2

B2

 

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, accounted for more than 80% of total exports and surpassed $18 billion in 2014. 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 $14 billion and 8% of GDP in 2014 - are the largest contributors to Bangladesh’s current account surplus and rising foreign exchange holdings.

 

Source : CIA

 

 

EXECUTIVE SUMMARY

 

IDENTIFICATION DETAILS

Correct company Name

:

Dhaka Power Distribution Company Limited

Head Office

:

BidyutBhaban, 1 Abdul Ghani Road, Dhaka-1000, Bangladesh

Tel No

:

88-02-9563520, 9567258

Fax No

:

88-02-9566338, 9566699

E-mail

:

secp@dpdc.org.bg, cs@dpdc.org

Website

:

www.dpdc.org.bd

Date/ Year of Incorporation

:

25/10/2005

Incorporation No.

:

C-59458

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/ (Loss)

July’ 13~June’ 14

BDT 42579707545

BDT 24612168543

(BDT234861018)

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. Ashaduzzaman

Designation

:

Executive Director (Finance)

Contract No

:

N/A

 

Locations Details

Operating Address

:

BidyutBhaban, 1 Abdul Ghani Road, Dhaka-1000, Bangladesh

Tel No

:

88-02-9563520,9567258

Fax No

:

88-02-9566338, 9566699

E-mail

:

secp@dpdc.org.bg, cs@dpdc.org

Website

:

www.dpdc.org.bd

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

50,000

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

Ö

Retail shop

 

 

Industrial Park

 

Business Center

 

 

Home Office

 

Residential Bldg.

 

 

 

 

 

 

Factory:

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

 

 

Rented

 

 

Leased

 

Area

 

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

DakhinBanasree, Road # 12, Dhaka, Bangladesh 

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

5731

In Factory

:

 

In Branch:

:

 

Total

:

5731

Details:

 

 

 

 

OWNERSHIP/SHAREHOLDERS

 

Names of Shareholders

 No. of Share

Joint Secretary (Dev.), Power Division Ministry of Power and Mineral Resources

1

Joint Secretary, Finance  DivisionMinistry of Finance

1

Chairmen, BPDB

1

Chief Executive Officer, DCC

1

FBCCI

1

IEB

1

ICMA

1

PGCB

1

Secretary Power, Ministry of Powerand Mineral Resources

49992

 

 

DIRECTORS

 

Name

Designation

Mr. Tapos Kumar Roy

Chairman

Brig Gen. Md. NazrulHasan (Retd)

Managing Director/CEO

Mr. Engr. Md. Abdul Wahab Khan

Director

Mr. Md. Ansar Ali Khan

Director

Mrs. Begum Robina Amin

Director

Mr. Md. Shahidullah

Director

Dr. Satya Prasad Majumder-

Director

Prof. MamtazUddin Ahmed

Director

Mr. Engr. M.M. AbulHossain

Director

Mr. Nagibul Islam Dipu

Director

Mr. BanasreeBiswasSmritikona

Director

Brig. General Md. Shahidsarwarndc. Psc. (Retd.)

Director

Engr. Md. Shahinul  Islam Khan

Director

 

 

 

 

 

 

 

 

 

MANAGEMENT

 

Name

:

Mr. Md. Ashaduzzaman

Job Description

:

Executive Director (Finance)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Maran Kumar Chakraborty

Job Description

:

Executive Director (HR)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Maran Kumar Chakraborty

Job Description

:

Company Secretary

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

           

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

Range of Products:

 

Products

:

Electricity

Production Capacity

:

1456 MW/1820 MVA

Last Year Production

:

Do

 

Trading Terms:

 

Purchasing Terms:

L/C

N/A

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

 

90 days

 

 

days

 

Selling Terms      :

L/C

N/A

Cash

 

Others

 

 

 

Credit :

 

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

:

N/A

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

S.F.Ahmed& Co.

Chartered Accountants

Representative of ERNST &YOUNG Global in Bangladesh

House # 25, Road # 13A, Block-D, Banani,

Dhaka-1000, Bangladesh

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 100000 Million

 

Paid-up Capital

:

BDT 50,000,00

No. of Shares

:

50,000

ShareValue

:

BDT100.00Each

Main Assets

:

BDT24612168543

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

N/A

Subsidiary

:

N/A

Name of  The Group

:

N/A

 

 

BANKING

 

Bank Name  

:

Janata Bank Ltd.

Agrani Bank Ltd.

Sonali Bank Ltd.

Pubali Bank Ltd.

The City Bank Ltd

NCC Bank Ltd.

Pupali Bank Ltd.

 

 

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 atBidyutBhaban, 1 Abdul Ghani Road, Dhaka-1000, Bangladesh. It is Situated at Commercial area.

 

 

GENERAL COMMENTS

 

Subject is Bangladesh’s medium company engaged in Distributor of Electricity. We recommended that credit may proceed in moderate amounts.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.39

UK Pound

1

Rs.91.06

Euro

1

Rs.66.16

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

Report Prepared by :

ANK

 

 

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.