|
Report No. : |
322139 |
|
Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
BSRM STEEL MILLS LIMITED |
|
|
|
|
Registered Office : |
Ali Mansion, 1207/1099, Sadarghat Road, Chittagong-4000 |
|
|
|
|
Country : |
Bangladesh
|
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|
|
|
Date of Incorporation : |
16.04.2008 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer and Distributor of MS Billet. |
|
|
|
|
No. of Employees : |
300 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Yet to Commence its Commercial Operation |
|
Payment Behaviour : |
Unknown |
|
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 |
: |
BSRM STEEL MILLS LIMITED |
|
Head Office |
: |
Ali Mansion, 1207/1099, Sadarghat Road, Chittagong-4000, Bangladesh. |
|
Tel No |
: |
88-031-2854901-10, 613282, 613759 |
|
Fax No |
: |
880-31-610101 |
|
E-mail |
: |
mail@bsrm.com |
|
Website |
: |
www.bsrm.com |
|
Date/ Year of Incorporation |
: |
16.04.2008 |
|
Incorporation No. |
: |
Ch-6561
|
|
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’ 13~June’
14 |
Not Started Production |
N/A |
N/A |
|
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
|
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|
Information Parted By |
||
|
|
|
|
|
Name |
: |
Mr. Md. Imran |
|
Designation |
: |
Deputy Manager |
|
Contract No |
: |
88-01973432792 |
|
Locations Details |
||
|
Operating Address |
: |
Ali Mansion, 1207/1099, Sadarghat Road, Chittagong-4000, Bangladesh. |
|
Tel No |
: |
88-031-2854901-10, 613282, 613759 |
|
Fax No |
: |
880-31-610101 |
|
E-mail |
: |
mail@bsrm.com |
|
Website |
: |
www.bsrm.com |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
2500 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
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Home Office |
|
|
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Residential Bldg. |
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Factory: |
|
|
|
|
|
|
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Address |
: |
Mirsarai, Chittagong, Bangladesh. |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
5 |
Acroes |
|
Branches: |
|
|
|
|
|
|
|
Address |
: |
Mahbub Castle (2nd Floor) 35, Purana
Paltan Line, Dhaka-1000, Bangladesh. |
|
Tel No |
: |
88-02-8313135, 9358135, 8311994 |
|
Fax No |
: |
88-02-8312905 |
|
Email |
: |
dhaka@bsrm.com
|
|
Employee: |
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|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
50 |
In Factory |
: |
250 |
||
|
In Branch: |
: |
- |
Total |
: |
300 |
|||
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Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Mr. Alihussain Akberali FCA |
2541675 |
|
Mr. Zohair Taherali |
7032097 |
|
Mr. Aameir Alihussain |
9339400 |
|
Mrs. Tehseen Zohair Taherali |
1477300 |
|
Mrs. Bilkis Alihussain |
10645728 |
|
Mrs. Sabeen Aameir |
176660 |
|
Mr. Abdul Qadir Zohair |
33340 |
|
Bsrm Steels Limited |
45114600 |
|
Bangladesh Steel Re- Rolling Mills Ltd. |
45114600 |
|
H. Akberali And Co. Limited |
44264600 |
|
BSRM Foundation |
100000 |
|
Mr. Ali Asghar Badruddin Africawala |
3160000 |
|
Mr. Abbas Jumani |
100000 |
|
Mr. Saifuddin Abbas Unwala |
18100000 |
|
Mr. Iqbal Hussain |
20100000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Alihussain Akberali |
Chairman |
|
Mr. Aameir Alihussain |
Managing Director |
|
Mr. Zohair Taherali |
Director |
|
Mrs. Tehseen Zohair Taherali |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Imran |
|
Job Description |
: |
Deputy Manager |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Bipin Sharma,
|
|
Job Description |
: |
Plant Head |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS
OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
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|
|||||||
|
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Exporter |
|
Importer |
|
Services |
|
Others |
|
|
Range of
products : |
||
|
|
||
|
Products |
: |
MS Billet. |
|
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 |
N/A |
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 |
: |
N/A |
Local Suppliers |
: |
N/A |
|
||||
|
Trade Markets |
: |
Exports |
: |
N/A |
|
|||||
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Imports |
: |
China, India, Singapore, Hong Kong |
|
|||||||
|
Brand Name |
: |
N/A |
||||||||
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Certified |
: |
N/A |
||||||||
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Auditors |
: |
N/A |
||||||||
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Operation Status |
: |
Active. |
||||||||
|
Member |
: |
N/A |
||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
BDT
500,00,00,000 |
|
||||||
|
Paid-up Capital |
: |
BDT 2073000000 |
No. of Shares |
: |
207300000 |
Share
Value |
: |
BDT 10.00Each |
|
|
Main Assets |
: |
N/A |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
New Company |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
KEW Ltd. BSRM Wires Ltd. BsRM Wear Limited BSRM Ispat Limited Burhani Estates Ltd BSRM Steels Limited BSRM Recycling Ltd. BSRM Metals Limited H.Akbar Ali & Co.Ltd. BSRM Logistics Limited Bangladesh Steels Limited South Asia Secrities Limited BSRM Real Estate Limited Megna Engineering Works Ltd Meghna Engineering Works Ltd. Chittagong Power Company Ltd. BSRM Iron & Steel Co. Limited Karnafully Engineering Works Ltd. BSRM Recycling Industries Limited Bangladesh Steel Re-Rolling Mills Ltd. East Bengal Trading & Industrial Corporation Limited |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
BSRM Group of Companies |
BANKING
|
|
|
|
Bank Name
|
: |
Hong Kong
Shanghai Banking Corporation. |
|
Bank Address |
: |
Agrabad Branch. Osman Court, 70 Agrabad C/A, Chittagong -
4100 Tel: 88-03-710008, 711154, 724406, 723750 Fax : 88-031-710007 |
|
|
||
|
Bank Name
|
: |
Standard Chartered Bank Ltd. |
|
Bank Address |
: |
Agrabad Branch. PHP House, 31 Agrabad C/A |
|
Bank Name
|
: |
Prime Bank Ltd. |
|
Bank Address |
: |
Agrabad Branch. Chittagong Chamber House, 38 Agrabad C/A,
Chittagong-4100 Phone: (031) 727018, 716724-5 Fax: 88-031-718971 Telex: 633028 PBLAG BJ SWIFT: PRBLBDDH015 Email: pblagrabad@primebank.com.bd |
|
Bank Name
|
: |
Agrani Bank Ltd. |
|
Bank Address |
: |
COMM AREA CORP. Agrabad Comm. Area Agrabad Chittagong-4100 Tel: 88-031-716370 |
|
Bank Name
|
: |
Islami Bank Bangladesh Ltd. |
|
Bank Address |
: |
Jubilee Road Branch. 200/B, Jubilee Road Chittagong Phone: 88-(031) 2854747 |
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
|
|
We talked with of the Company. Our Representative Visited the subject company
address at Ali Mansion, 1207/1099, Sadarghat Road, Chittagong-4000,
Bangladesh. Its office is decorated by western furniture. |
GENERAL
COMMENTS
|
|
Established in
16.04.2008, Subject company not starts their commercial production. The subject company
sister concerns doing good business & they have good reputation to
Bangladeshi local people. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.