MIRA INFORM REPORT
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Report No. : |
318196 |
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Report Date : |
27.04.2015 |
IDENTIFICATION DETAILS
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Name : |
HELIX WIRE & CABLES INDUSTRIES LTD |
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Registered Office : |
House# 26, Road# 03, Block# I, Banani, Dhaka-1213 |
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Country : |
Bangladesh |
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Date of Incorporation : |
08.05.2014 |
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Com. Reg. No.: |
C-109197 |
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Legal Form : |
Private Co |
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Line of Business : |
Subject is manufacturer and distributor of electric wares |
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No. of Employee : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
Company
name
HELIX WIRE &
CABLES INDUSTRIES LTD
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Helix Wire & Cables Industries Ltd |
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Head Office |
: |
House# 26, Road# 03, Block# I, Banani, Dhaka-1213, Bangladesh. |
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Tel No |
: |
88-02-9894402, |
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Fax No |
: |
88-02-9871630 |
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E-mail |
: |
info@bbspeb.com, bbsfactory@bbspeb.com |
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Website |
: |
www.bbspeb.com |
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Date/ Year of Incorporation |
: |
08/05/2014 |
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Incorporation No. |
: |
C-109197 |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
: |
Registrar of
Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export |
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Year |
Turnover/
Sales |
Assets |
Income |
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New Company |
N/A |
N/A |
N/A |
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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 |
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Recommended Credit Range |
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N/A |
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Information Parted By |
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Name |
: |
Mr. Sarwar Hossan |
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Designation |
: |
Manager
(Commercial) |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
: |
House# 26, Road# 03, Block# I, Banani, Dhaka-1213, Bangladesh. |
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Tel No |
: |
88-02-9894402, |
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Fax No |
: |
88-02-9871630 |
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E-mail |
: |
info@bbspeb.com, bbsfactory@bbspeb.com |
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Website |
: |
www.bbspeb.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
1500 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
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Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
Ö |
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Factory: |
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Address |
: |
Jaina Bazar, Telehate, shreepur, Gazipur,
Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Owned |
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Rented |
Ö |
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Leased |
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Area |
50000 |
Sq. ft. |
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Corporate Office: |
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Address |
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Configure Bepari Tower (3rd
floor), Holding # GA-64, Badda, Dhaka, Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
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10 |
In Factory |
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110 |
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In Branch: |
: |
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Total |
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120 |
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Details: |
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Names of Shareholders |
No. of
Share |
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Engr. Abu Noman Howlader |
28000 |
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Engr. Hasan Morshed Chowdhury |
18000 |
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Engr. Badrul Hasan |
18000 |
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Engr. Mohammad Ruhul Majid |
18000 |
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Md. Ashraf Ali Khan |
18000 |
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Name |
Designation |
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Engr. Abu Noman Howlader |
Managing Director |
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Engr. Hasan Morshed Chowdhury |
Director |
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Engr. Badrul Hasan |
Director |
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Engr. Mohammad Ruhul Majid |
Director |
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Md. Ashraf Ali Khan |
Director |
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Name |
: |
Mr. Sarwar Hossan |
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Job Description |
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Manager (Commercial) |
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Nationality |
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Bangladeshi |
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Email address |
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N/A |
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Other details |
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N/A |
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Name |
: |
Mr. Gazi Sabbir Hossain |
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Job Description |
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Assistant General Manager (HR) |
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Nationality |
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Bangladeshi |
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Email address |
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N/A |
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Other details |
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N/A |
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
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Services |
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Others |
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Range of
Products: |
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Products |
: |
Electric Wares. |
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Production Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
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Cash |
Ö |
Others |
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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days |
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Trade Reference
& Related Parties |
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Overseas Clients |
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N/A |
Local Clients |
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N/A |
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Overseas Suppliers |
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N/A |
Local Suppliers |
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N/A |
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Trade Markets |
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Exports |
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N/A |
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Imports |
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India, China |
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Brand Name |
: |
Nil |
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Certified |
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Nil |
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Auditors |
: |
Nil |
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Operation Status |
: |
Active |
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Member |
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N/A |
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Authorized
Capital |
: |
BDT 50 Million |
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Paid-up Capital |
: |
BDT 10000000 |
No. of Shares |
: |
100000 |
Share
Value |
: |
BDT100.00Each |
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Main Assets |
: |
N/A |
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The subject company don’t submit update
financial figure to local registry office. |
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Sister Concerns |
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BBS Cable Ltd. BBS Developer Ltd. Prithvi Engineers Ltd. Prithvi Engineers Ltd., Total Knit Composite Ltd. BBS Metallurgic Industries Ltd Xiamen Reflective Insulation Ltd Bangladesh Building Systems Ltd Speed Builders and Engineers Ltd. Nahee Aluminum Composite Panel Ltd. |
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Subsidiary |
: |
Nil |
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Name of The Group |
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Nil |
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Bank Name
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Sonali Bank Ltd. |
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Bank Address |
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35-44, Motijheel C/A Dhaka, Dhaka, Bangladesh Tel: 88-02-89553382, 9551482, 9568002 |
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Bank Name
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Eastern Bank Ltd |
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Bank Address |
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Gulshan Branch, Uday Tower (1st Floor), Plot: 57 & 57/A
Gulshan Avenue (South) Dhaka -1212, Bangladesh Phone: 88-02 8834328-8833607 |
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Dishonored Checks |
:
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No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
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No Record Found |
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Our representative visited the subject company Head Office which is situated
at House# 26, Road# 03, Block# I, Banani, Dhaka-1213, Bangladesh. It is
Situated at Residential area. |
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The subject company is engaged in Manufacturer & Distributor. It
is new company which was starting production middle of the last year |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
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|
1 |
Rs.95.42 |
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Euro |
1 |
Rs.68.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
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Report Prepared by
: |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.