MIRA INFORM REPORT

 

 

Report No. :

357435

Report Date :

29.12.2015

 

IDENTIFICATION DETAILS

 

Name :

GPH ISPAT LIMITED

 

 

Registered Office :

Crown Chambers, 325 Asadganj, Chittagong-4000

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.10.2015

 

 

Date of Incorporation :

17.05.2006

 

 

Com. Reg. No.:

CH-5853

 

 

Legal Form :

Public Listed Co      

 

 

Line of Business :

Manufacturer, Distributor, Importer of Steel Materials & Other Metallic Materials

 

 

No. of Employee :

1350

 

 

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 – 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

IDENTIFICATION DETAILS

 

Correct company Name

:

GPH Ispat Limited

Head Office

:

Crown Chambers, 325 Asadganj, Chittagong-4000, Bangladesh.

Tel No

:

88-031-631460, 638507, 611313, 634387, 624281, 2850110, 635877, 2854997

Fax No

:

88-031-610995

E-mail

:

info@gphispat.com.bd

Website

:

www.gphispat.com.bd

Date/ Year of Incorporation

:

17.05.2006

Incorporation No.

:

CH-5853

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

30 April 2015

BDT 2,601,053,735

(01-05-2014~31-10-2014)

BDT 6,003,868,545

BDT 157,387,742

(01-05-2014~31-10-2014)

31 October 2015

BDT 2,947,617,034

(01-05-2015~31-10-2015)

BDT 7,538,277,333

BDT 170,217,188

(01-05-2015~31-10-2015)

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. Arafat Kamal, ACA

Designation

:

Company Secretary

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

Crown Chambers, 325 Asadganj, Chittagong-4000, Bangladesh.

Tel No

:

88-031-631460, 638507, 611313, 634387, 624281, 2850110, 635877, 2854997

Fax No

:

88-031-610995

E-mail

:

info@gphispat.com.bd

Website

:

www.gphispat.com.bd

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

4500

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

:

Mosjiddah, Kumira, Sitakunda, Chittagong, Bangladesh. 

Tel No

:

88-01723912387

Fax No

:

Nil

Email

:

factory@gphispat.com.bd , hossainmd71@yahoo.com

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

10

Acores

 

Dhaka Office:

 

 

 

Address

:

Hamid Tower (3rd Floor), 24 Gulshan C/A, Circle-2, Dhaka-1213, Bangladesh.

Tel No

:

88-02-9840177

Fax No

:

88-02-9880366

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

50

In Factory

:

1300

In Branch:

:

-

Total

:

1350

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                          No. of Share     

Mr. Md. Alamgir Kabir

   7392000

Mr. Mohammad Jahangir Alam

                                    44200000

Mr. Md. Almas Shimul

                                    16632000

Mr. Md. Abdur Rouf

  4620000

Mr. Md. Ashrafuzzaman

 4620000

Mr. Md. Salauddin Roman

 4620000

Mr. Md. Abdul Ahad

 3696000

Mr. Md. Azizul Haque Raju

  2772000

General Public

30248000

 

 

DIRECTORS

 

Name

Designation

Mr. Md. Alamgir Kabir

Chairman

Mr. Mohammad Jahangir Alam

Managing Director

Mr. Md. Almas Shimul

Additional Managing Director

Mr. Md. Ashrafuzzaman

Director

Mr. Md. Abdul Ahad

Director

Mr. Md. Azizul Haque Raju

Director

Mr. Md. Abdur Rouf

Director

Professor Dr. Mohammad Saleh Jahur

Independent Director

Mr. Md. Velayet Hossain

Independent Director

 

 

MANAGEMENT

 

Name

:

A.B.M. Sahedul Alam Al Masood

Job Description

:

Deputy General Manager (HR & Admin)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Kamrul Islam

Job Description

:

Chief Financial Officer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Abu Bakar Siddique

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

 

Importer

Ö

Services

 

Others

 

 

Range of Products:

 

Products

:

Steel Materials & Other Metallic Materials

Production Capacity

:

1, 68,000 Mt. per year

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

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

Syful Shamsul Alam & Co

Chartered Accountants

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT  2,500,000,000

 

Paid-up Capital

:

BDT 1,188,000,000

No. of Shares

:

118800000

Share Value :BDT 10.0Each

Main Assets

:

BDT 7,538,277,333

 

FINANCIAL STATEMENT- DETAILED

 

Balance Sheet :

 

  Currency

: BDT

 

       Denomination

: 1

 

         Financial Year Ending

:  31 October 2015         

 

                                                              

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                           

 

 

Income Statement :

 

  Currency

:BDT

 

       Denomination

: 1

 

         Financial Year Ending

: 31 October 2015

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Nil

Subsidiary

:

Nil

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

Ab Bank Ltd.

One Bank Ltd.

Trust Bank Ltd.

Prime Bank Ltd.

Janata Bank Ltd.

Pubali Bank Ltd.

Premier Bank Ltd

The City Bank Ltd

Standard Chartered Bank

United Commercial Bank Ltd.

Islami Bank Bangladesh Limited.

 

 

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 address at Crown Chambers, 325 Asadganj, Chittagong-4000, Bangladesh. It is Situated at Commercial area.

 

GENERAL COMMENTS

The subject company is engaged in manufacturer, Importer & Distributors. It is reputed company in this line of business. We recommended that Credit can proceed promptly in Fairly large amount.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.14

UK Pound

1

Rs.98.69

Euro

1

Rs.72.55

BDT

1

Rs.0.85

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TRU

 

 

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.