|
Report No. : |
309898 |
|
Report Date : |
02.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEW DACCA INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
BEL Tower (Level-10), 19 Dhanmondi R/A, Road #7, Dhaka-1205, |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
09.03.1965 |
|
|
|
|
Legal Form : |
Private Co |
|
|
|
|
Line of Business : |
Subject is manufacturer and exporter
jute yarn and twine. |
|
|
|
|
No. of Employees : |
2250 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 and 80% of total exports, surpassed $21 billion last year,
18% of GDP. 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 almost $15
billion and 13% of GDP IN 2013, are the largest contributors to Bangladesh’s
current account surplus and record foreign exchange holdings.
|
Source
: CIA |
IDENTIFICATION DETAILS
|
||
|
Correct company Name |
: |
New Dacca Industries Limited |
|
Head Office |
: |
BEL Tower (Level-10), 19 Dhanmondi R/A, Road #7, Dhaka-1205,
Bangladesh. |
|
Tel No |
: |
88-02-8611891-5, 8618220-7 |
|
Fax No |
: |
88-02-9615523 |
|
E-mail |
: |
jutecoo@bol-online.com,
bexijute@beximcojute.com |
|
Website |
: |
www.beximcojute.com |
|
Date/ Year of Incorporation |
: |
09-03-1965 |
|
Incorporation No. |
: |
C-2310 |
|
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
421 Million |
BDT 810.5 Million |
BDT 128.65 Million |
|
July’ 13~June’ 14 |
BDT 561 Million |
BDT 847.20 Million |
BDT 135.71 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. Humayun Kabir |
|
Designation |
: |
CEO |
|
Contract No |
: |
- |
|
Locations Details |
||
|
|
||
|
Corporate Address |
: |
Abc House (10th Floor), 8 Kamal Attatuk Avenue, Banani,
Dhaka-1213, Bangladesh. |
|
Tel No |
: |
88-02-9677701-5 |
|
Fax No |
: |
88-02-9615523 |
|
E-mail |
: |
jutecoo@bol-online.com,
bexijute@beximco.jute.com |
|
Website |
: |
www.beximcojute.com |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
6500 |
Sq. ft. |
|
Type of Office :
|
: Commercial Office Bldg. |
|
|
Semi-commercial office Bldg. |
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential Bldg. |
Ö |
|
|
|
|
|
Factory: |
|
|
|
|
|
|
|
Address |
: |
Tatki, Tarabo, Narayanganj, Bangladesh. |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
8.5 |
Acores |
|
Registrar Address: |
||
|
|
|
|
|
Address |
: |
17, Dhanmodi R /A, Road # 2, Dhaka-1205,
Bangladesh. |
|
Tel No |
: |
N/A |
|
Fax No |
: |
N/A |
|
Branch office : |
||
|
|
|
|
|
Address |
: |
Beximco Indistrial Park, Sarabo, Kashimpur
Gazipur Bangladesh |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of
Employees |
In Office |
: |
71 |
In Factory |
: |
2179 |
||
|
In Branch: |
: |
- |
Total |
: |
2250 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS |
|
|
Names of Shareholders |
No. of Share |
|
Mr. A.S.F. Rahman |
16075000 |
|
Mr. Ahmed Salman Fazlur Rahman |
16075000 |
DIRECTORS |
|
|
Name |
Designation |
|
Mr. A.S.F. Rahman |
Managing Director |
|
Mr. Ahmed Salman Fazlur Rahman |
Director |
MANAGEMENT |
||
|
Name |
: |
Mr. Anower Hossain. |
|
Job Description |
: |
Manager (Marketing) |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Humayon Kabir |
|
Job Description |
: |
CEO |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS OPERATIONS |
||||||||
|
Nature of
Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
|
Services |
|
Others |
|
|
Item Dealings
In: |
||
|
|
||
|
Products |
: |
Jute yarn & Twine. |
|
Production
Capacity |
: |
6 MT per day |
|
Last Year Production |
: |
Do |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
|
Selling
Terms : |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
DETAILED DATA |
|
|||||||||
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
Europe, USA, UK, Australia. |
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 |
: |
N/A |
||||||||
|
Operation Status |
: |
Active. |
||||||||
|
Member |
: |
Dhaka Chamber of Commerce & Industry |
||||||||
CAPITAL STRUCTURE |
|
||||||||
|
Authorized
Capital |
: |
BDT 500 Million |
|
||||||
|
Paid-up
Capital |
: |
BDT 3,2,15,00,000 |
No. of Shares |
: |
3, 21,50,000 |
Share
Value |
: |
BDT 10.0Each |
|
|
Main
Assets |
: |
BDT 847.20 Million. |
|
||||||
FINANCIAL STATEMENT- DETAILED
|
|
The subject company don’t submit update full financial figure to local
registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES |
||
|
Sister Concerns |
: |
Bextex Ltd. Bextrade Ltd. Sonali Ansh Ltd. Bangladesh Online GMG Airlines Ltd. Essess Fashions Ltd. Beximco Media Ltd. Beximco Apparels Ltd. Beximco Fashions Ltd. Crescent Fashions Ltd. Beximco Synthetics Ltd. Beximco Holdings Ltd. Beximco Securities Ltd. Beximco Computers Ltd. Beximco Petroleum Ltd. Pharmatek Chemicals Ltd. Beximco Engineering Ltd Shinepukur Ceramics Ltd. Beximco Pharmaceuticals Ltd. Bangladesh Export Import Co Ltd.
Bangladesh Antibiotics Industries Ltd. International Knitwear & Apparels Ltd. Beximco Property Development And Management Limited |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Beximco Group. |
BANKING |
||
|
Bank Name |
: |
Janata Bank Ltd. |
|
Bank Address |
: |
Local Office 1, Dilkusha Commercial Area, Dhaka-1000 PABX: 88-02-9556242-44, Phone: 88-02-9553106, 9556241 Fax: 88-02-9563639 |
|
Bank Name |
: |
AB Bank Ltd. |
|
Bank Address |
: |
Principal Branch 30-31, Dilkusha C/A, Dhaka Tel: 9560312-6, 9560887-8 Email: pbbrmg@abbl.com Mnemonic: PBBR Code: 4005 Routing Number: 020275352 |
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 BEL Tower (Level-10), 19 Dhanmondi R/A, Road
#7, Dhaka-1205, Bangladesh. It is situated at Residential area which is a
well decorated modern office. |
GENERAL COMMENTS |
|
The subject company is engaged in manufacturer & Exporter. 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.61.79 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.