MIRA INFORM REPORT
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Report No. : |
327408 |
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Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
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Name : |
RANGPUR METAL INDUSTRIES LTD. |
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Registered Office : |
Pran-RFL Center, 105 Progoti Sarani, Middle Badda, Dhaka 1212 |
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Country : |
Bangladesh |
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Date of Incorporation : |
03.03.2008 |
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Com. Reg. No.: |
C- 70164 |
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Legal Form : |
Private Co
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Line of Business : |
Subject is manufacturer, distributor and importer of bicycle, water pump, submersible pump,
kitchen sink, water pump spare parts |
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No. of Employee : |
600 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
RANGPUR METAL INDUSTRIES LTD. |
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Head Office |
: |
PRAN-RFL Center,
105 Progoti Sarani, Middle Badda, Dhaka 1212, Bangladesh. |
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Tel No |
: |
880-2-9881792,
8835546-50, 8819693 |
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Fax No |
: |
88-02-8837464 |
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E-mail |
: |
rfl241@prangroup.com, rfl@prangroup.com |
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Website |
: |
www.prangroup.com |
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Date/ Year of Incorporation |
: |
03.03.2008 |
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Incorporation No. |
: |
C- 70164 |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
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LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
: |
Registrar of
Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
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Year |
Turnover/
Sales |
Assets |
Income |
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July’ 12~June’
13 |
BDT
390 Million |
BDT 315.25 Million |
BDT 9.34 Million |
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July’ 13~June’
14 |
BDT 461 Million |
BDT 352.70 Million |
BDT 12.20 Million |
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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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Information Parted By |
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Name |
: |
Mr. Asadur Rahman |
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Designation |
: |
Manager |
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Contract No |
: |
N/A |
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Locations
Details |
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Operating Address |
: |
PRAN-RFL Center,
105 Progoti Sarani, Middle Badda, Dhaka 1212, Bangladesh. |
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Tel No |
: |
880-2-9881792,
8835546-50, 8819693 |
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Fax No |
: |
88-02-8837464 |
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E-mail |
: |
rfl241@prangroup.com, rfl@prangroup.com |
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Website |
: |
www.prangroup.com |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
2400 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
Ö |
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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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Factory (Unit-1: |
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Address |
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CEO Bazar, Hajipara, Rangpur Sadar, Bangladesh |
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Tel No |
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N/A |
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Fax No |
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N/A |
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Factory (Unit-2) : |
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Address |
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Murapara,Rupgonj, Narayangonj, Bangladesh |
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Tel No |
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N/A |
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Fax No |
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N/A |
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Factory (Unit-3) : |
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Address |
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Olipur, Shahjibazar, Shaistaganj Habigonj, Sylhet, Bangladesh |
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Tel No |
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N/A |
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Fax No |
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N/A |
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Branches: |
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Address |
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Property Heights, 12 R. K. Mission Road,
Dhaka-1203, Bangladesh.
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Tel No |
: |
880-2-9563126, 7163708 |
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Fax No |
: |
880-2-9559415 |
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Employee: |
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No. of Employees |
In Office |
: |
155 |
In Factory |
: |
445 |
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In Branch: |
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- |
Total |
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600 |
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Details: |
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Names of Shareholders |
No. of
Share |
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Mr. Maj. Gen. Amjad Khan Chowdhury (Retd.) |
620 |
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Mr. Ahsan Khan Chowdhury |
330 |
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Mrs. Sabiha Amjad |
50 |
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Name |
Designation |
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Mr. Maj. Gen. Amjad Khan Chowdhury (Retd.) |
Managing Director |
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Mr. Ahsan Khan Chowdhury |
Director |
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Mrs. Sabiha Amjad |
Director |
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Name |
: |
Mr. Rashedur
Rahman |
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Job Description |
: |
Chief Operating
Officer. |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Moniruzzaman |
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Job Description |
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Asst. General Manager. |
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Nationality |
: |
Bangladeshi. |
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Email address |
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N/A |
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Other details |
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N/A |
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Name |
: |
Mr. Ainul Haque |
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Job Description |
: |
Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
01912257071 |
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Other details |
: |
N/A |
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Nature of Activity: |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
Ö |
Services |
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Others |
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Range of
Products: |
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Products |
: |
Bicycle, Water Pump, Submersible Pump, Kitchen
Sink, Water Pump Spare Parts. |
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Production Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
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Cash |
Ö |
Others |
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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days |
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
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N/A |
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Overseas Suppliers |
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N/A |
Local Suppliers |
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N/A |
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Trade Markets |
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Exports |
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N/A |
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Imports |
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China, India, Japan |
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Brand Name |
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N/A |
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Certified |
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N/A |
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Auditors |
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N/A |
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Operation Status |
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Active. |
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Member |
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N/A |
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Authorized
Capital |
: |
BDT
200 Million |
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Paid-up Capital |
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BDT 1, 00,000 |
No. of Shares |
: |
1, 000 |
Share
Value |
: |
BDT 100.00Each |
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Main Assets |
: |
BDT
352.70 Million |
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The subject company don’t submit update full
financial figure to local registry office. |
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Sister Concerns |
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Pran Dairy Ltd. Pran Foods Ltd. Pran-Rfl Centre Pran RFL Group RFL Plastics Ltd. Pran Exports Ltd Chorka Textile Ltd Duradle Plastic Ltd Rangpur Foundry Ltd. Sylval Agriculture Ltd Pran Beverage Limited Allplast Bangladesh Ltd. Erum Bangladesh Limited Mymensingh Agro Limited Packmat Industries Limited Banga Building Materials Ltd. Bangladesh Lift Industries Ltd. Agricultural Marketing Co. Ltd. Bangla Plastic International Ltd |
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Subsidiary |
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Nil |
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Name of The Group |
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Pran-Rfl Group |
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Bank Name
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Bank Asia Ltd. |
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Bank Address |
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Scotia Branch Rangs Bhaban (1st Floor) 117/A, Old Airport Road Bijay Sarani, Dhaka |
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Bank Name
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Trust Bank Ltd.
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Bank Address |
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Head Office Branch, People’s Insurance bhaban 36, Dilkusha C/A (2nd, 16th, & 17th
Floor) Dhaka-1000 Tel: 88-02-9570261, 9570263, 9572012-3 Fax - 880-2-9572315 |
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Bank Name
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Primer Bank Ltd.
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Bank Address |
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Dilkusha Branch 44, Dilkusha C/A, Dhaka – 1000 Tel: 880-2-9552303, 9569180, 9552328 Fax: 880-2-9552801 Telex: 642552 PRBDB BJ S.W.I.F.T.: PRMRBDDHDIL |
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Dishonored Checks |
:
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No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
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No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
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No Record Found |
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Our Representative Visited the subject company Head office which is
situated at Pran-RFL Tower, 105/1, Ga, Middle Badda, Dhaka-1212, Bangladesh. It
is situated at commercial area which is a well decorated modern office. |
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Based on the financial statements, SC’s financial performance appears
to be average. SC has been in its line of business for about 6 years. Taking into
account its long-standing history, reputation in the market, as well as its
financial condition, we recommend that credit may proceed in moderate
amounts. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
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UK Pound |
1 |
Rs.99.27 |
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Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.