|
Report No. : |
305994 |
|
Report Date : |
05.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BHUTAN BITUMEN INDUSTRIES PVT LTD. |
|
|
|
|
Registered Office : |
P O Box No.111, 2nd Floor Bobl Building
Samdruplam, Phuentsholing |
|
|
|
|
Country : |
Bhutan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Year of Establishments : |
2008 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in manufacturing Different Grades of
Cationic Bitumen Emulsion which is Eco-friendly, Pollution Free as no heating is required |
|
|
|
|
No of Employees : |
14 (Approximately) |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Bhutan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Bhutan ECONOMIC OVERVIEW
Bhutan's economy, small and
less developed, is based largely on agriculture and forestry, which provide the
main livelihood for more than half of the population. Because rugged mountains
dominate the terrain and make the building of roads and other infrastructure
difficult and expensive, industrial production is primarily of the cottage
industry type. The economy is closely aligned with India's through strong trade
and monetary links and is dependent on India for financial assistance and
migrant laborers for development projects, especially for road construction.
Multilateral development organizations administer most educational, social, and
environment programs, and take into account the government's desire to protect
the country's environment and cultural traditions. For example, the government,
in its cautious expansion of the tourist sector, encourages visits by upscale,
environmentally conscientious tourists. Complicated controls and uncertain
policies in areas such as industrial licensing, trade, labor, and finance
continue to hamper foreign investment. Bhutan’s largest export - hydropower to
India - is creating employment and will probably sustain growth in the coming
years. Only 5% of Bhutan’s 30,000 megawatt hydropower potential is currently
tapped. The large amount of equipment needed to import materials to build
hydropower plants has expanded Bhutan's trade and current account deficits.
Bhutan’s GDP has rebounded strongly since the global recession began in 2008.
Bhutan hopes to play a larger role in regional economic integration as a member
of the South Asia Association for Regional Cooperation and the Bay of Bengal
Initiative for Multi-Sectoral Technical and Economic Cooperation.
|
Source : CIA |
|
Company Name |
: |
BHUTAN BITUMEN INDUSTRIES PVT LTD. |
|
Address |
: |
P O BOX
NO.111, 2ND FLOOR BOBL BUILDING SAMDRUPLAM, PHUENTSHOLING,
BHUTAN |
Phone
:
00975-5-25-1808
Mobile No. :
+975-17114606
Fax
: 00975-5-25-1808
E-Mail: bhubit13@gmail.com
2008
Private Limited Company
|
Tshering Dorji |
|
Tum Thinley |
1. Bhutan Bank Ltd.
Phontsholing, Bhutan
|
Shareholders Name |
No. of Equity Shares |
|
Tshering Dorji |
20 %
|
|
Chimi Dorji Nurbu |
20 %
|
|
Nim Dorji |
10 %
|
|
S. Dorji |
10%
|
|
Others |
40 %
|
|
Total |
100 %
|
Nag & Associates
Kolkata, India
Engaged in manufacturing Different Grades of
Cationic Bitumen Emulsion which is Eco-friendly, Pollution Free as no heating is required
Product Finished goods
Country India
Product Raw Materials
Country India
14 (Approximately)
|
Authorized Share Capital |
:
|
Nu. 5,000,000 divided into 500,000 Equity Shares of Nu. 10/- each. |
|
Issued, Subscribed & Paid Up Capital |
:
|
Nu. 2,616,680 divided into 261,668 Equity Shares of Nu. 10/- each. |
|
Face Value |
:
|
Nu. 10/- each. |
|
Last AGM |
:
|
July 15, 2013 |
Balance Sheet
(Amount in Nu Mln.)
|
Particular |
March 31, 2013
|
March 31, 2012
|
|
Sources of Funds |
||
|
Share Capital |
2.62 |
0.59 |
|
Reserves & Surplus |
13.56 |
3.40 |
|
Unsecured
Loans |
2.67 |
4.30 |
|
Deferred
Tax Liability (Net) |
0.01 |
0.01 |
|
Total Liabilities |
18.86 |
8.30 |
|
Application Of Funds |
||
|
Gross Block |
1.28 |
0.88 |
|
Less: Depreciation |
0.43 |
0.24 |
|
Net Block |
0.85 |
0.64 |
|
Current Assets, Loan and Advances |
||
|
Inventories |
30.24 |
22.01 |
|
Sundry
Debtors |
10.84 |
9.63 |
|
Cash
And Bank Balances |
0.14 |
0.82 |
|
Loans
and Advances |
2.49 |
1.31 |
|
|
43.71 |
33.77 |
|
Less : Current Liabilities & Provisions |
||
|
Current Liabilities |
23.56 |
25.09 |
|
Provisions |
2.18 |
1.06 |
|
|
25.74 |
26.15 |
|
Net Current Assets |
17.97 |
7.62 |
|
Miscellaneous Expenditure |
0.04 |
0.04 |
|
Total Assets |
18.86 |
8.30 |
INFORMATION parted BY
|
Name : |
Mr. Lama |
|
Designation : |
Financial Department |
|
Contact No.: |
975-5-25-1808 |
|
Date : |
03.02.2015 |
Remarks : Payments are
reported to be correct and regular as per commitments. Trade relations are fair.
Consider good for normal business Engagement
as usual trade terms & condition. Business may be done.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.68 |
|
UK Pound |
1 |
Rs.93.53 |
|
Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
Analysis Done by
: |
SUB |
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.