MIRA INFORM REPORT

 

 

Report No. :

320425

Report Date :

04.05.2015

 

IDENTIFICATION DETAILS

 

Name :

ENERGYPAC ENGINEERING LTD.

 

 

Registered Office :

Energy Center, 25,Tejgaon I/A,(1st & 2nd Floor),Dhaka-1208

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

29.05.1993

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer, Distributor, Importer and Services of Transformer, Switchgear, Instrument Tran, Disconnecting switch, Voltage regulator, Energy Meter, High Voltage Switchgear, Voltage stabilizer.

 

 

No. of Employees :

1400

 

 

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, 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

:

ENERGYPAC ENGINEERING LTD.

Head Office

:

Energy Center, 25,Tejgaon I/A,(1st & 2nd Floor),Dhaka-1208 Banglades

Tel No

:

880-02-8870669, 8879391-95

Fax No

:

880-2-8879398

E-mail

:

info@ energypac-bd.com,purchase@energypac-bd.com

Website

:

www.energypac-bd.com

Date/ Year of Incorporation

:

29.05.1993

Incorporation No.

:

C-23997 

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 982.00 Million

BDT  57.80 Million

BDT  58.92 Million

July’ 13~June’ 14

BDT 1150.40 Million

BDT 81.47 Million

BDT 49.25 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. Mohammad Sirajul Islam

Designation

:

N/A

Contract No

:

88-01713147055

 

 

                                                               Locations Details

Corporate  Address

:

Energy Center, 25,Tejgaon I/A,(1st & 2nd Floor),Dhaka-1208 Banglades

Tel No

:

880-02-8870669, 8879391-95

Fax No

:

880-2-8879398

E-mail

:

info@ energypac-bd.com,purchase@energypac-bd.com

Website

:

www.energypac-bd.com

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

3500

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

Factory Address:

 

 

 

Address

:

Baruipra, Savar, Bangladesh.

Tel No

:

880-682251296-7

Fax No

:

880-682251798

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

288000

Sq. ft.

 

Corporate Address:

 

 

 

Address

:

Jiban Bima Tower, (9th & 11th Floor), 10 Dilkusha C/A, Dhaka-1000, Bangladesh.

Tel No

:

880-2-9561883

Fax No

:

880-2-9563728

 

Branches:

 

 

Address

:

Chittagong Office: House# 6, Lane# 1, Road# 3, Halishahar Housing Estate

Chittagong, Bangladesh

Tel No

:

880-31-715473

Fax No

:

880-31-715473

 

Address

:

Rajshahi Office: Millpara, Sopura, Rajshahi, Bangladesh

Tel No

:

880-721-760099

Fax No

:

Nil

 

Address

:

Khulna Office: 84, Khan Jahan Ali Road, Khulna, Bangladesh

Tel No

:

880-41-722546

Fax No

:

Nil

 

Address

:

Sylhet Office: Bari Mansion, 1st Floor Room-215, Amberkhana Airport Road, Sylhet, Bangladesh

Tel No

:

880-1-713147069

Fax No

:

Nil

 

Address

:

Bogra Office: Mafiz Paglar More (2nd floor), Sherpur Road, Shutrapur, Bogra, Bangladesh

Tel No

:

880-1-713147041

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

50

In Factory

:

1350

In Branch:

:

-

Total

:

1400

Details:

 

                    

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Sheikh Humayun Rashid

6496

Mr. Robiul Alam

6496

Md. Enamul Haque Chowdhury

5008

 

DIRECTORS

 

Name

Designation

Md. Enamul Haque Chowdhury

Managing Director

Mr. Sheikh Humayun Rashid

Director

Mr. Robiul Alam

Director

 

MANAGEMENT

 

Name

:

Mr. Mohammad Sirajul Islam

Job Description

:

General Manager (Procurement)

Nationality

:

Bangladeshi

Email address

:

purchase@energypac-bd.com

Other details

:

N/A

 

 

 

Name

:

Mr. Barkatullah

Job Description

:

Commercial Officer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

Ö

Services

Ö

Others

 

 

Item Dealings In:

 

Products

:

Transformer, Switchgear, Instrument Tran, Disconnecting switch, Voltage regulator, Energy Meter, High Voltage Switchgear, Voltage stabilizer

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

 

Others

 

 

 

Credit :

 

30 days

 

60 days

 

90 days

 

 

days

 

DETAILED DATA

 

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

N/A

Local Clients

:

N/A

 

Overseas Suppliers

:

CPRI-India

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

Imports

:

China, India, Singapore

 

Brand Name

:

Nil

Certified

:

ISO 9001:2000 & 14001:2004 Standard

Auditors

:

N/A

Operation Status

:

Active

Member

:

Dhaka Chamber of Commerce & Industry

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

BDT 5 Million

 

Paid-up Capital

:

BDT 18, 00,000

    No. of Shares

:

18000

Share Value

:

BDT 100.00Each

Main Assets

:

BDT 81.47 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Energypac Agro Limited

Tech Advantage Limited

CPV Chittagong Limited

Energypac Batteries Ltd.

Energypac Ceramic Ltd.

Energypac Systems Ltd.

Energypac Seafood ltd.

Energypac Transformer Ltd.

Energypac Fashions Limited

Energypac Electronics Limited

Energypac Power Generation Limited

Energypac Confidence Power Venture Ltd.

Energypac Infrastructure Development Ltd.

Sonargaon Leather & Rexin Cloths Industries Ltd.

Subsidiary

:

Nil

Name of  The Group

:

Energypac Group 

 

BANKING

 

 

Bank Name  

:

Standard Chartered Bank.

Bank Address

:

Gulshan Branch,

67 Gulshan Avenue,

Gulshan, Dhaka, Bangladesh.                                                                         

 

Bank Name  

:

Arab Bangladesh Bank Ltd.

Bank Address

:

Principal Branch,

30-31, Dilkusha C/A, Dhaka

Tel: 9560312-6, 9560887-8

E-mail: pbbrmg@abbank.com.bd

 

 

Bank Name  

:

Hong Kong Shanghai Banking Corporation                                                                   

Bank Address

:

Head Office Branch

Anchor Tower, 108, Bir Uttam C R Dutta Road, 

Dhaka - 1205

Telephone: (880 2) 9660536-43

Facsimile: (880 2) 9660554

 

 

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 Jiban Bima Tower, (9th & 11th Floor), 10 Dilkusha C/A, Dhaka-1000, Bangladesh. It is  situated at commercial area which is a well decorated modern office.

 

GENERAL COMMENTS

 

Based on the financial statements, SC’s financial performance appears to be above average. SC has been in its line of business for about 21 years. Taking into account its long-standing history, reputation in the market, as well as its financial condition.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.57

UK Pound

1

Rs.97.99

Euro

1

Rs.70.53

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

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.