MIRA INFORM REPORT

 

 

Report No. :

313082

Report Date :

16.03.2015

 

IDENTIFICATION DETAILS

 

Name :

LANDMARK BANGLADESH LTD.

 

 

Registered Office :

Rajuk Annex Blvd. (4th Floor), Dilkusha C/A, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

25.05.1983

 

 

Com. Reg. No.:

C-10779

 

 

Legal Form :

Private Company

 

 

Line of Business :

Indenter, Supply, Installation, Commissioning and Importer of Heavy Industrial Gas Turbine, Industrial Refrigeration, HV Generator and Transformer Refurbishment, Circuit Breaker.     

 

 

No. of Employees :

14

 

 

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)

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

 

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Landmark Bangladesh Ltd.

Head Office

:

Rajuk Annex Blvd. (4th Floor), Dilkusha C/A, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9564299, 9552335, 9553331

Fax No

:

Nil

E-mail

:

landmark@agni.com, landmark@bdmail.net

Website

:

www.landmark.com.bd

Date/ Year of Incorporation

:

25.05.1983

Incorporation No.

:

C-10779

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 220 Million

BDT  18.90 Million

BDT  3.64 Million

July’ 13~June’ 14

BDT 180 Million

BDT 22.31 Million

BDT 4.37 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. Abdus Sattar

Designation

:

Director

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

Rajuk Annex Blvd. (4th Floor), Dilkusha C/A, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9564299, 9552335, 9553331

Fax No

:

Nil

E-mail

:

landmark@agni.com, landmark@bdmail.net

Website

:

www.landmark.com.bd

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

1200

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

Warehouse:

 

 

Address

:

Rajuk Annex Blvd. (4th Floor), Dilkusha C/A, Dhaka-1000, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

3500

Sq. ft.

 

 

Registered Address:

Address

:

Landmark House, 124, Bashiruddin Road, Kalabagan, Dhaka-1205, Bangladesh                                 

Tel No

:

88-02-819 1778

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

12

Warehouse

:

2

In Branch:

:

-

Total

:

14

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Shahzada A. Hamid

30000

Mrs. Afroza Hamid

10000

Mr. Abdus Sattar

10000

 

 

DIRECTORS

 

Name

Designation

Mr. Shahzada A. Hamid

Managing Director

Mrs. Afroza Hamid

Director

Mr. Abdus Sattar

Director

 

 

MANAGEMENT

 

Name

:

Mr. Abdus Sattar

Job Description

:

Director

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Aziz Omer

Job Description

:

Executive Director

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Tarikuzzaman

Job Description

:

General Manager

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Indenter

Ö

Trader

 

Supply

Ö

Installation

Ö

 

 

 

Commissioning

Ö

Importer

Ö

Services

 

Others

 

 

 

Range of Products:

 

Products

:

Heavy Industrial Gas Turbine, Industrial Refrigeration, HV Generator and Transformer Refurbishment, Circuit Breaker.     

Production Capacity

:

N/A

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

:

Mitsubishi                                                                             Bently Nevada

Turbomach

WG

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports

:

N/A

 

Imports

:

USA, Canada & Europe, Japan

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 50 Million

 

Paid-up Capital

:

BDT 50, 00,000

    No. of Shares

:

50, 000

Share Value

:

BDT 100.00Each

Main Assets

:

BDT 22.31 Million

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

The subject company don’t submit update full financial figure to local registry office.

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

M/s. Shafin Systems 

Indoor Power Systems

Land Mark Power Systems 

Indus Power Control System Ltd.

 

Subsidiary

:

Nil

Name of  The Group

:

Landmark Group

 

 

BANKING

 

Bank Name  

:

Arab Bangladesh Bank Ltd.

Bank Address

:

Motijheel Branch.

BSB Building, 08, DIT Avenue, Dhaka

Tel: 9563011-5, 9556077, 9555586

Fax: 9556077

Email: motimg@abbl.com

Mnemonic: MOTI Code: 4004

Routing Number: 020274245

Opening: 27.12.198

 

Bank Name  

:

Frist Security Islami Bank Ltd.

Bank Address

:

Motijheel Branch.

Plot # 9/i, Motijheel C/A

Dhaka City Corporation

Phone: 9570423, 9570531

Fax:  9572261

Email: motijheel@fsiblbd.com

Inauguration date: 07.12.2008

 

 

Bank Name  

:

Jamuna Bank Ltd.

Bank Address

:

Motijheel Branch.

Surma wer, 59/2, Purana Paltan, Dhaka-1000

Phone : 9554474, 9551606

Email : manager.motijheel@jamunabank.com.bd

Branch Manager : Masudur Rahman

Manager Designation : Vice President

 

 

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 Rajuk Annex Blvd. (4th Floor), Dilkusha C/A, Dhaka-1000, Bangladesh. It is situated at commercial area which is a well decorated modern office.

 

 

GENERAL COMMENTS

 

SC is considered medium-sized in its line with fairly stable financial conditions.


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.67

UK Pound

1

Rs.93.16

Euro

1

Rs.66.42

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

               

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.