MIRA INFORM REPORT

 

 

Report No. :

335877

Report Date :

12.08.2015

           

IDENTIFICATION DETAILS

 

Name :

ANWAR ISPAT LIMITED

 

 

Registered Office :

Baitul Hussain Building(14th Floor),  27, Dilkusha C/A, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

01.10.2004

 

 

Com. Reg. No.:

C-54487

 

 

Legal Form :

Private Co

 

 

Line of Business :

Subject is manufacturer and distributor of deformed bars

 

 

No. of Employee :

487

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

Company name

 

ANWAR ISPAT LIMITED

 

 

EXECUTIVE SUMMARY                          

      

                                                   IDENTIFICATION DETAILS

Correct company Name

:

ANWAR ISPAT LIMITED

Registered Office

:

Baitul Hussain Building(14th Floor),  27, Dilkusha C/A, Dhaka-1000,

Bangladesh.

Tel No

:

88-02-9564033

Fax No

:

88-02-9564020

E-mail

:

mail@anwargroup.com

Website

:

www.anwargroup.com

Date/ Year of Incorporation

:

04/10/2004

Registered No.

:

C-54487

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

July’2012~June’2013

BDT 275 Million

BDT 2,200.00 Million

BDT 1.80 Million

July’2013~June’2014

BDT 496 Million

BDT 2282.67Million

BDT 23.80 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. Prokash Kumar Biswas

Designation

:

Accountants

Contract No

:

88-01731344143

 

                                                                        Locations Details

Business Address

:

Baitul Hussain Building(14th Floor),  27, Dilkusha C/A, Dhaka-1000,

Bangladesh.

Tel No

:

88-02-9564033

E-mail

:

88-02-9564020

Fax No

:

mail@anwargroup.com

Website

:

www.anwargroup.com

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

3200

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

:

Kunia Pathaor, Taragaci, Board Bazar, Gazipur, Bangladesh.

Tel No

:

88-02-9291468

Fax No

:

88-02-9295835

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

4.5

Acres

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

59

In Factory

:

428

In Branch:

:

-

Total

:

487

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Manwar Hossain

                                   5000

Mr. Hossain Mehmood

                                   5000

Mr. Hossain Khaled

                                   5000

 

 

DIRECTORS

 

Name

Designation

Mr. Manwar Hossain

                          Managing Director

Mr. Hossain Mehmood

                                   Director

Mr. Hossain Khaled

                                   Director

 

 

MANAGEMENT

 

Name

:

Tamanna Sultana

Job Description

:

Commercial Officer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

                                                                                                             

Name

:

Mr. Khayer Uddin

Job Description

:

Commercial Manager

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

Exporter

 

Importer

 

Others

 

 

 

Range of Products:

 

Products

:

Deformed Bars

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

Ö

Cash

 

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

:

N/A

Operation Status

:

Active

Member

:

Nil

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 1, 00,00,000

Paid-up Capital

:

BDT 1500,000

No. of Shares  :   15000

 Share Value

:

BDT 100.00Each

Main Assets

:

BDT 2282.67Million

 

 

 

 

 

 

 

 

 

FINAN FINANCIAL STATEMENT- DETAILED

 

 

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

 

 

 

ASSOCIARES/SUBSIDIARIES/RELATED PARTIES

 

Sister Concerns

:

Mala Corporation.

Anwar Cement Ltd.

A-One Polymer Ltd

In 2it Interactive Ltd.

AG Automobiles Ltd.

Anwar Landmark Ltd.

Anwar Galvanizing Ltd

Kaba Trading Company

A-One Polymer Limited 

Athena's Furniture’s Ltd

Khaled Iron & Steels Ltd. 

Triumph Engineering Ltd.

Anwar Export-Import Ltd.

Anwar Jute Spinning Mills Ltd.

Anwar Specialized Jute Goods Ltd. 

The City General Insurance Co. Ltd

Sunshine Cables & Rubber Works Ltd.

Subsidiary

:

Nil

Name of  The Group

:

Anwar Group of Industries

 

 

BANKING

 

 

Bank Name  

:

Dhaka Bank Ltd.

Bank Address

:

Local Office,

Adamjee Court (GF), 115-120 Motijheel C/A,

Dhaka-1000, Bangladesh

Tel: 88-02-9556587, 9556592-3

Fax: 88-02-9556583

 

Bank Name  

:

Shahajalal Islami Bank Ltd.

Bank Address

:

Main Branch

58 Dilkusha C/A, Dhaka-1000, Bangladesh

Tel: 88-02-9570795-8, 9570805

Fax: 88- 02-9556011

 

 

 

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 Baitul Hussain Building, 27, Dilkusha C/A, (14th Floor), Dhaka-1000, Bangladesh. It is Situated Commercial area.

 

GENERAL COMMENTS

 

 

The subject company is engaged in manufacturer, Importer & Distributor. It is reputed company in this line of business.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.17

UK Pound

1

Rs.99.84

Euro

1

Rs.70.36

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ASH

 

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.