MIRA INFORM REPORT

 

 

Report No. :

319482

Report Date :

27.04.2015

 

IDENTIFICATION DETAILS

 

Name :

T. K. GROUP OF INDUSTRIES

 

 

Registered Office :

Tk Bhaban (2nd floor), 13 Kawran Bazar, Dhaka-1215

 

 

Country :

Bangladesh

 

 

Year of Incorporation :

1980

 

 

Legal Form :

Group of Companies               

 

 

Line of Business :

Manufacturer, distributor, exporter and importer of edible oils & fats,  steel, board, paper, textile, packaging & containers, tea plantation, ship building, consumer products, shares and securities, commodities, chemicals, sacks, drum container, LPG cylinder, yarns, thread.    

 

 

No. of Employees :

12000

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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, 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

 

IDENTIFICATION DETAILS

 

Correct company Name

:

T. K. Group of Industries

Head Office

:

Tk Bhaban (2nd floor), 13 Kawran Bazar, Dhaka-1215, Bangladesh

Tel No

:

880-2- 9115210, 9144136, 9142876

Fax No

:

880-2-914321183

E-mail

:

info@tkgroupbd.com , infoctg@tkgroupbd.com 

Website

:

www.tkgroup.com

Date/ Year of Incorporation

:

1980

Tread License No.

:

N/A

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  Group of Companies                

 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’ 12~June’ 13

BDT 3.50 Billion

BDT  2.24  Billion

BDT  0.12  Billion

July’ 13~June’ 14

BDT  4.15  Billion

BDT  2.56  Billion

BDT  0.14  Billion

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. Md. Salim Uddin

Designation

:

Adviser

Contract No

:

N/A

 

 

Locations Details

 

Business Address

:

Tk Bhaban (2nd floor), 13 Kawran Bazar, Dhaka-1215, Bangladesh

Tel No

:

880-2- 9115210, 9144136, 9142876

Fax No

:

880-2-914321183

E-mail

:

info@tkgroupbd.com , infoctg@tkgroupbd.com 

Website

:

www.tkgroup.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

8500

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

:

Dhaka, Narayangong, Chittagong, Patenga, Lakurghat

Tel No

:

N/A

Fax No

:

N/A

 

Corporate Office :

 

 

 

Address

:

83 Khatungonj, Chittagong, Bangladesh.

Tel No

:

880-31-636245, 618095-6, 617837,2858361-5

Fax No

:

Nil

 

 

Employee

 

No. of Employees 

 

In Office

:

500

In Factory

:

11500

In Branch:

:

 

Total

:

12000

Details:

 

                    

 

 

BOARD OF DIRECTORS

 

Board of Directors

               

:

 

Mr. M.A. Tayab – Chairman

Mr. M. A. Kalam –Managing Director  

Mr. Tariq Ahmed- Director

Md. Khurshidul Alam- Director

 

 

 

 

MANAGEMENT

 

Name

:

Mr. Md. Salim Uddin

Job Description

:

Adviser

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Md. Rafiq Ahmed

Job Description

:

Executive Director

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

Ö

Importer

Ö

Services

 

Others

 

 

Range of Products:

 

Products

:

Edible Oils & Fats,  Steel, Board, Paper, Textile, Packaging & Containers, Tea Plantation, Ship Building, Consumer Products, Shares and Securities, Commodities, Chemicals, Sacks, Drum container, LPG Cylinder, yarns, Thread.        

Production Capacity

:

N/A

Last Year Production

:

N/A

 

Trading Terms:

 

Purchasing Terms:

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

 

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

:

Local wholesalers

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

USA, Europe

 

Imports

:

China, India, Italy, Pakistan, Taiwan, Canada

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

 N/A

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Capital Invested

:

Tk. 1Billion

 Assets

:

Tk. 2.56  Billion

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Uni-Trade

MAF Shies Ltd

Riff Leather Ltd

Masud & Brothers

M.B. Telecom Ltd.

T.K. Refinery Ltd.

MaAF Motors Ltd

Super Oil Mills Ltd.

MAF Shoes Limited

Riff Leather Limited

Super Thread Limited

Asia Insurance Co. Ltd.

Aching Home Fiber Ltd.

Super Formica Mills ltd.

Super Synthetic Limited

Asia Insurance Limited

Modern Polly Fiber Ltd.

Modern Hatchery Limited

Samuda Cement Ind. Ltd.

Modern Power Co. Limited

Super Board Mills Limited.

Rubi Food Products Limited

Bay Fishing Corporation Ltd

Super Particle Bord Limited.

MAF Newsprint Mills Limited

MAF News Print Mills Limited

Sobnam Vegetable Oil Ind. Ltd

Premier Cement Mills Limited

T.K Chemical Complex  Limited

Modern Fibers Industries Limited

Modern Polly Industries Limited

Mohammadi Trading Co. Limited

Samuda Chemical Complex Limited

Super Knitting and Dyeing Mills Ltd

Super Knitting & Dying Mills Limited

Bangladesh Timber & Plywood Industries Limited

 

 

 

Name of  The Group

:

TK Group of Industries

 

 

BANKING

 

Bank Name  

:

South East Bank Ltd.

Bank Address

:

Motijheel Branch,

125, Motijheel C/A, (1st Floor), Motijheel, Dhaka - 1000

Phone: 9567286, 9567202, 9567303, 9567262

Fax: 88 - 02 - 9567701

Swift: SEBDBDDHMIB

 

 

 

Bank Name  

:

Arab Bangladesh Bank Ltd.                                                                              

Bank Address

:

Khatunganj Branch

Chittagonj, Bangladesh.

 

 

 

Bank Name  

:

Bank Asia Ltd.

Bank Address

:

Principal Branch                                                                         

111-113, Motijheel C/A.

Dhaka - 1000

Ph: 880-2-9571450, 9571451

Fax: 880-2-9566223

Telex: 632513 BAPO BJ

 

 

 

 

Bank Name  

:

Premier bank Ltd.

Bank Address

:

Agrabad Branch

Al Islam Chamber 91, Agrabad Commercial Area, Chittagong

Tel : 88-031-714418, 717204,728256

Fax : 880-031-714418

 

 

 

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 Tk Bhaban (2nd floor), 13 Kawran Bazar, Dhaka-1215, Bangladesh. It is situated at commercial area & their office is decorated by modern furniture.

 

 

GENERAL COMMENTS

 

SC is Group of company which is well reputed group in Bangladesh.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.40

UK Pound

1

Rs.95.42

Euro

1

Rs.68.49

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

VNT

 

               

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.