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Report No. : |
329766 |
|
Report Date : |
02.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
GETCO LIMITED |
|
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|
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Registered Office : |
26 Shyamoli, Bir Uttam A. W. Chowdhury Road, (Mirpur Road), Dhaka-1207 |
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Country : |
Bangladesh
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Date of Incorporation : |
28.07.1996 |
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Legal Form : |
Private Company |
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Line of Business : |
Consultancy, Infrastructure Development Projects, Contractor, Distributor, Importer and Services of Vehicles with spares, Generators, Radar and Radar Equipment, spares and components of Diesel Engine, CNG Buses, Excavator, Bulldozer, Wheel Loader, Fork Lift, Crane, Concrete Mixer Machine, Road Rollers. |
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|
|
|
No. of Employees : |
145 |
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 |
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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 |
: |
GETCO LIMITED |
|
Head Office |
: |
26 Shyamoli, Bir Uttam A. W. Chowdhury Road, (Mirpur Road),
Dhaka-1207, Bangladesh |
|
Tel No |
: |
88-02-58151790,
58151282, 58155487, 8158718-21, |
|
Fax No |
: |
88-02-9120761, 8113319 |
|
E-mail |
: |
info@getco.com.bd |
|
Website |
: |
www.getco.com.bd |
|
Date/ Year of Incorporation |
: |
28/07/1996 |
|
Incorporation No. |
: |
C-31061 |
|
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’ 12~June’
13 |
BDT 395.56 Million |
BDT
744.35 Million |
BDT 49.10 Million |
|
July’ 13~June’
14 |
BDT 442.20 Million |
BDT
793.95 Million |
BDT 57.84 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 |
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FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Syed Golam
Modasser |
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Designation |
: |
General Manager |
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Contract No |
: |
N/A |
|
Locations
Details |
||
|
Operating Address |
: |
26 Shyamoli, Bir Uttam A. W. Chowdhury Road, (Mirpur Road) Dhaka-1207, Bangladesh |
|
Tel No |
: |
88-02-58151790,
58151282, 58155487, 8158718-21, |
|
Fax No |
: |
88-02-9120761, 8113319 |
|
E-mail |
: |
info@getco.com.bd |
|
Website |
: |
www.getco.com.bd |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
30,000 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Ware House : |
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Address |
: |
26 Shyamoli, Bir Uttam A. W. Chowdhury Road, (Mirpur Road) Dhaka-1207, Bangladesh |
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Tel No |
: |
N/A |
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Fax No |
: |
N/A |
|
Owned |
Ö |
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Rented |
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Leased |
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Area |
31000 |
Sq. ft. |
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Branches: |
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|
Address |
: |
Nil |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
130 |
Warehouse |
: |
15 |
||
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In Branch: |
: |
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Total |
: |
145 |
|||
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Details: |
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OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Mr. Azizur Rahman Bhuiya |
300 |
|
Mr. K. M. Khaled |
450 |
|
Mr. M. A. Khaleque |
450 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Azizur Rahman Bhuiya |
Chairman & Managing Director |
|
Mr. K. M. Khaled |
Director |
|
Mr. M. A. Khaleque |
Director |
MANAGEMENT
|
||||||||||
|
Name |
: |
Mr. Syed Golam
Modasser |
||||||||
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Job Description |
: |
General Manager |
||||||||
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Nationality |
: |
Bangladeshi |
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Email address |
: |
golam.modasser@getco.com.bd |
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Other details |
: |
N/A |
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BUSINESS
OPERATIONS
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Nature of Activity : |
Consultancy |
Ö |
Infrastructure Development
Projects |
Ö |
Contractor |
Ö |
Distributor |
Ö |
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||||||||
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Exporter |
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Importer |
Ö |
Services |
Ö |
Others |
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Item dealing in: |
||
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Products |
: |
Vehicles with spares, Generators, Radar and Radar
Equipment, spares and components of Diesel Engine, CNG Buses, Excavator,
Bulldozer, Wheel Loader, Fork Lift, Crane, Concrete Mixer Machine, Road
Rollers. |
|
Production Capacity |
: |
N/A |
|
Last Year
Production |
: |
N/A |
Trading Terms:
|
Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
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Selling Terms : |
L/C |
|
Cash |
Ö |
Others |
|
|
|||
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Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
DETAILED
DATA
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|||||||||
|
Trade Reference
& Related Parties |
: |
Main Foreign Principals |
: |
Norland Canada Inc LG CNS Hyundai Corporation, WABTEC Corporation, Sakai Heavy Industries Ltd |
Local Clients |
: |
N/A |
|||
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|||||
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Trade Markets |
: |
Exports |
: |
N/A |
||||||
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Imports |
: |
China, India, Japan, France, USA, Spain |
||||||||
|
Brand Name |
: |
Nil |
||||||||
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Certified |
: |
Nil |
||||||||
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Auditors |
: |
N/A |
||||||||
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Operation Status |
: |
Active |
||||||||
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Member |
: |
Dhaka Chamber of Commerce & Industry |
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CAPITAL STRUCTURE
|
|
||||||||
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Authorized
Capital |
: |
BDT 1,00,00,000.00 |
|
||||||
|
Paid-up Capital |
: |
BDT 1,20,000 |
No.
of Shares |
: |
1200 |
Share
Value |
: |
BDT 100.00Each |
|
|
Main Assets |
: |
BDT 793.95 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
||
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The subject company don’t submit update
financial figure to local registry office. |
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ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Getco Digital Getco Technolabs Getco Hosiery Ltd Getco International Getco Power Limited Getco Fibres Limited Hrc Technologies Ltd Getco Online Limited Getco Trading Limited Getco Jute Mills Limited Getco Fertilizers Limited Easy Fly Express Limited Getco Real Estate Co. Ltd Getco Agro Vision Limited Getco Agro Vision Limited. Getco Textile Mills Limited. Greenland Technologies Ltd Getco Ventures International Getco Multi Services Limited Getco Agri-Technologies Limited. Getco Business Solutions Limited. Getco Ventures International Ltd. Getco Elevator Company Limited Getco Telecommunications Limited. Getco Socks and Seamless Industries Ltd Greenland Engineers & Tractors Company Limited. |
|
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Subsidiary |
: |
Nil |
|
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Name of The Group |
: |
GETCO Group |
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BANKING
|
|
|
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Bank Name
|
: |
Mercantile Bank
Ltd. |
|
Bank Address |
: |
Dhanmondi Branch 2/1, Cosmos Tower, Road No.- 28 (Old), 15
(New) Dhanmondi R/A, Dhaka -1205. Phone: 88-02- 9130500, 9142691, 8126768,
8124234 Fax: 88-02-8126768 |
|
|
||
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Bank Name
|
: |
Southeast Bank Ltd. |
|
Bank Address |
: |
Shyamoli Branch ASA Tower (2nd Floor), 23/3 & 23/14,
Khilji Road, Block # B, Mohammadpur, Shyamoli, Dhaka Phone: 88-02-8123551, 8112250, 8128678,
8112227 Fax: 88 - 02 - 81220687 |
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|
|
|
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Bank Name
|
: |
Dutch Bangla Bank Ltd. |
|
Bank Address |
: |
Al-Arafa Islami Bank Ltd |
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 at26 Shyamoli, Bir
Uttam A. W. Chowdhury Road, (Mirpur Road), Dhaka-1207, Bangladesh. It is
situated at commercial area. |
GENERAL
COMMENTS
|
|
SC is considered medium-sized in its line with fairly stable financial
conditions. A credit line up to USD 70,000
would appear to be within SC’s capacities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.62 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.70.77 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.