MIRA INFORM REPORT

 

 

Report No. :

336720

Report Date :

18.08.2015

 

IDENTIFICATION DETAILS

 

Name :

ASM CHEMICAL INDUSTRIES LTD.

 

 

Registered Office :

240, Tejgaon I/A, Dhaka–1208

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

27.06.2005

 

 

Com. Reg. No.:

C-57807

 

 

Legal Form :

Private Company  

 

 

Line of Business :

Manufacturer, Trader and Agent of Chlorine, Sodium Hypochlorite, Hydrochloric     Acid, Chlorinated Paraffin Wax, Bleaching powder (35%), Hydrogen Peroxide, Heavy Normal Paraffin, Hydrated Lyme, Barium Carbonate, Sodium Sulfate, Ferric Chloride, Polly Aluminum Chloride. 

 

 

No. of Employees :

1500

 

 

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

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Asm Chemical Industries Ltd.

Head Office

:

240, Tejgaon I/A, Dhaka–1208, Bangladesh.

Tel No

:

88-0 2 – 8879175, 8879178-9

Fax No

:

88-02-8879184

E-mail

:

azizgroupbd@bol-online.com

Website

:

www.asmchemical.com

Date/ Year of Incorporation

:

27.06.2005

Incorporation No.

:

C-57807

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/ (Loss)

July’ 12~June’ 13

BDT 389 Million

BDT 1568.98  Million

BDT 17.50  Million

July’ 13~June’ 14

BDT 437  Million

BDT 1597.98  Million

BDT 24.03  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. Zohirul Islam

Designation

:

Markating Manager

Contract No

:

88-01730013459

 

                                                               Locations Details

 

Operating Address

:

240, Tejgaon I/A, Dhaka–1208, Bangladesh.

Tel No

:

88-0 2 – 8879175, 8879178-9

Fax No

:

88-02-8879184

E-mail

:

azizgroupbd@bol-online.com

Website

:

www.asmchemical.com

 

Location :

: Owned

 

Rented

 

 

Leased

Ö

Area

1200

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

Ö

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Tepir Bari, Bormi Road, Mawna, Sreepur, Gazipur, Bangladesh. 

Tel No

:

N/A

Fax No

:

N/A

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

100000

Sq. m.

 

Branches:

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

50

In Factory

:

1450

In Branch:

:

 

Total

:

1500

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Azizul Haque Chowdhury

645000

Mrs. Hosne Ara Aziz

320000

Alhaj Muhammad Abdul Maleque

187500

Mr. Zoynul Abedin Jamal

322500

Mr. M Kamal Uddin

320000

Mr. M Nasir Uddin

320000

Mr. Rajibul Haque Chowdhury

320000

Mr. Zoynal Abedin Chowdhury

320000

Mrs. Shamayeen Abedin Chowdhury

160000

Mrs. Marina Ahmed

160000

 

 

DIRECTORS

 

Name

Designation

Mr. Azizul Haque Chowdhury

Managing Director

Mrs. Hosne Ara Aziz

Director

Alhaj Muhammad Abdul Maleque

Director

Mr. Zoynul Abedin Jamal

Director

Mr. M Kamal Uddin

Director

Mr. M Nasir Uddin

Director

Mr. Rajibul Haque Chowdhury

Director

Mr. Zoynal Abedin Chowdhury

Director

Mrs. Shamayeen Abedin Chowdhury

Director

Mrs. Marina Ahmed

Director

 

 

MANAGEMENT

 

Name

:

Mr. Md. Emdad

Job Description

:

Senior Executive

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Obayedul Hoque

Job Description

:

Commercial Manager

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

Ö

Dealer

 

Distributor

 

 

 

 

Agent

Ö

Importer

 

Services

 

Others

 

 

Range of Products:

 

Products

:

Chlorine, Sodium Hypochlorite, Hydrochloric     Acid, Chlorinated Paraffin Wax, Bleaching powder (35%), Hydrogen Peroxide, Heavy Normal     Paraffin, Hydrated Lyme, Barium Carbonate, Sodium Sulfate, Ferric Chloride, Polly Aluminum Chloride. 

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, Turkey, Singapore, Japan.

 

Brand Name

:

N/A

Certified

:

ISO 9001:2008

Auditors

:

N/A

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 100 Million

 

Paid-up Capital

:

BDT 300000000

 No. of Shares

:

3000000

Share Value

:

BDT100.00Each

Main Assets

:

BDT 1597.98 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

SAS Enterprise

HS Corporation

RH Corporation

RJM Corporation

Ratna Fashion Ltd.

Khushi Apparels Ltd.

Marina Knit Fashion Ltd.

Tubingen Bangladesh Ltd.

Aziz Super Garments Ltd.

Ratna Printing Industries Ltd.

Subsidiary

:

Nil

Name of  The Group

:

Aziz Group of Industrial Ltd.

 

 

BANKING

 

Bank Name  

:

National Credit Commerce Bank Ltd.

Bank Address

:

Nawabpur Road Branch

Hossain Plaza, Jhonker Moor P.S - Fatickchori,

Chittagong, Bangladesh

Tel: 88-031-617302

 

Bank Name  

:

Islami Bank Bangladesh Ltd.

Bank Address

:

Nawabpur Road Branch

210-211 Nawabpur Road, Dhaka

Bangladesh

Tel: 88-02- 9557258, 9556748

Fax: 88-02- 9556748

 

 

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 240, Tejgaon I/A, Dhaka–1208, Bangladesh. It is Situated at Industrial 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.65.22

UK Pound

1

Rs.102.23

Euro

1

Rs.72.39

 

 

 

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

 

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.