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Report No. : |
322318 |
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Report Date : |
14.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
NOVOTEL LTD. |
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Registered Office : |
Novo Tower, House# 50, Road# 11, Block# F, Banani, Dhaka-1213 |
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Country : |
Bangladesh |
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Date of Incorporation : |
27.11.2007 |
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Com. Reg. No.: |
C-69137 |
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Legal Form : |
Private Co |
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Line of Business : |
International Gateway, International voice traffic termination, Inter connecting IP & TDM. |
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|
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No. of Employee : |
82 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Bangladesh |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
||
|
Correct
company Name |
: |
Novotel Ltd. |
|
Head
Office |
: |
Novo Tower, House# 50, Road# 11,
Block# F, Banani, Dhaka-1213, Bangladesh |
|
Tel
No |
: |
88-02-09666722222, 8827745 |
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Fax
No |
: |
88-02-8826297 |
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E-mail |
: |
info@novotel-bd.com |
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Website |
: |
www.novotel-bd.com |
|
Date/
Year of Incorporation |
: |
27.11.2007 |
|
Incorporation No. |
: |
C-69137 |
|
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) |
|
Year |
Turnover/ Sales |
Assets |
Income |
|
July’
12~June’ 13 |
BDT 145 Million |
BDT 415 Million |
BDT 7.25 Million |
|
July’
13~June’ 14 |
BDT 182 Million |
BDT 472 Million |
BDT 10.45 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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Information
Parted By |
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Name |
: |
Mr. MoinulHaque |
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Designation |
: |
General Manager |
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Contract No |
: |
N/A |
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Locations Details |
||
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Corporate
Address |
: |
Novo Tower, House# 50, Road# 11,
Block# F, Banani, Dhaka-1213, Bangladesh |
|
Tel
No |
: |
88-02-09666722222, 8827745 |
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E-mail |
: |
88-02-8826297 |
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Fax No |
: |
info@novotel-bd.com |
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Website |
: |
www.novotel-bd.com |
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Location : |
: Owned |
|
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Rented |
Ö |
|
Leased |
|
Area |
10,500 |
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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Branch
address: |
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Address |
: |
House # Ga-30/G, PragatiSharani,
Gulshan-2, Dhaka-1212, Bangladesh |
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Tel
No |
: |
88-02-8899657 – 9, 0 1713188731 |
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Fax
No |
: |
88-02-8899654 |
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Owned |
|
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Rented |
Ö |
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Leased |
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Area |
4500 |
Sq. ft. |
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Employee: |
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No. of Employees |
In Office |
: |
82 |
In Factory |
: |
N/A |
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In Branch: |
: |
- |
Total
|
: |
82 |
|||
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Details: |
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|||||
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Names
of Shareholders |
No. of Share |
|
Mr. Arshad Jamal |
250 |
|
Mr. Ekramul |
50 |
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Mr. Faiz Mohammad Khan |
230 |
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Mr. TanveerEhsanurRahman |
10 |
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Mr. RafayetUllah Khan |
50 |
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Mr. Hasibur Rashid |
40 |
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Mr. RezaulKabir |
40 |
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Mr. FerojAlam |
50 |
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Mr. Syed MoinulHaq |
80 |
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Mr. FayzurRahman |
200 |
|
Name |
Designation |
|
Mr. Syed MoinulHaq |
Managing Director |
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Mr. Ekramul |
Director |
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Mr. Faiz Mohammad Khan |
Director |
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Mr. TanveerEhsanurRahman |
Director |
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Mr. RafayetUllah Khan |
Director |
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Mr. Hasibur Rashid |
Director |
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Mr. RezaulKabir |
Director |
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Mr. FerojAlam |
Director |
|
Mr. Arshad Jamal |
Director |
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Mr. FayzurRahman |
Director |
|
Name |
: |
Mr. MoinulHaque |
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Job
Description |
: |
General Manager |
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Nationality |
: |
Bangladesh |
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Email
address |
: |
N/A |
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Other
details |
: |
N/A |
|
Name |
: |
Mr. ShafiulAzam |
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Job
Description |
: |
Career Relation Manager |
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Nationality |
: |
Bangladesh |
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Email
address |
: |
N/A |
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Other
details |
: |
N/A |
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Nature
of Activity : |
International
Gateway |
Ö |
Trader |
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Dealer |
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Distributor |
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Exporter |
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Importer |
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Services |
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Item Dealings In: |
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||
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Products |
: |
International voice traffic termination,
Inter connecting IP & TDM. |
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Production
Capacity |
: |
N/A |
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Last Year Production |
: |
N/A |
Trading Terms:
|
Purchasing
Terms: |
L/C |
N/A |
Cash |
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Others |
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|||
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|
Credit
: |
|
30
days |
|
60
days |
|
90
days |
|
|
days |
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Selling
Terms : |
L/C |
N/A |
Cash |
|
Others |
|
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|||
|
|
Credit
: |
|
30
days |
|
60
days |
|
90
days |
|
|
days |
|
Trade
Reference & Related Parties |
: |
Overseas Clients |
: |
N/A |
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 |
: |
N/A |
||||||
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Brand Name |
: |
N/A |
||||||
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Certified |
: |
Nil |
||||||
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Auditors |
: |
Nil |
||||||
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Operation Status |
: |
Active |
||||||
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Member |
: |
N/A |
||||||
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Authorized
Capital |
: |
BDT 5 Million |
||||||
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Paid-up
Capital |
: |
BDT 1000000 |
No. of Shares |
: |
1,000 |
Share Value |
: |
BDT 100.00Each |
|
Main
Assets |
: |
BDT 472 Million |
||||||
|
The
subject company don’t submit update full financial figure to local registry
office. |
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Sister
Concerns |
: |
Novo Com Ltd. Jeans & Polo Ltd Tusuka apparels Ltd. Tusuka Fashions Ltd Parkview Dresses Ltd Tusuka Jeans Limited TusukaTeetjel Limited Tusuka Trousers Limited Univers Textile Alliance Tusuka Processing Limited Needle Art Embroidery Ltd |
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Subsidiary |
: |
N/A |
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Name of
The Group |
: |
Tusuka Group |
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Bank
Name |
: |
The City Bank Ltd. |
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Bank
Address |
: |
Principal Office JibonBima Tower,10
Dilkusha C/A,Dhaka 1000 Cable-BANKCITY Phone: 02-9553137,
02-9553147 Mobile:01970-338595 |
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Dishonored Checks |
: |
No Record
Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
|
Performance Defaults |
: |
No Record
Found |
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Adverse Local Media Coverage/
Adverse Filling History |
: |
No Record Found |
|
Our representative visited the subject company
Branch address which is situated at House # Ga-30/G, (4th Floor)
PragatiSharani, Gulshan-2, Dhaka-1212, Bangladesh. It is situated at
commercial area which is a well decorated modern office. |
|
Subject is mainly engaged
in international gateway business. The subject company maintains acceptable
business volume. Based on the financial statements, SC’s
financial performance appears to be Fair. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.19 |
|
|
1 |
Rs.100.58 |
|
Euro |
1 |
Rs.72.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.