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Report No. : |
322317 |
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Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
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Name : |
HRC TECHNOLOGIES LTD. |
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Formerly Known As : |
KARNAPHULI TELECOM SERVICES LTD |
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Registered Office : |
House# 1/C (1st & 2nd Floor), Road# 10, Baridhara, Dhaka-1212 |
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Country : |
Bangladesh
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Date of Incorporation : |
26.05.1999 |
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Legal Form : |
Private Company |
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Line of Business : |
IP Telephony Service Provider (IPTSP) |
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No. of Employees : |
107 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 |
IDENTIFICATION DETAILS
|
||
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Correct company Name |
: |
HRC TECHNOLOGIES LTD. |
|
Previse Name |
: |
KARNAPHULI TELECOM SERVICES LTD |
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Head Office |
: |
House# 1/C (1st & 2nd Floor), Road# 10,
Baridhara, Dhaka-1212, Bangladesh |
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Tel No |
: |
88-02-8113319 |
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Fax No |
: |
Nil |
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E-mail |
: |
info@hrcigw.com |
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Website |
: |
www.hrcigw.com |
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Date/ Year of Incorporation |
: |
26.05.1999 |
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Incorporation No. |
: |
C-37816 |
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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)
________________ |
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Issuing Authority |
: |
Registrar of
Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
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|||
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Year |
Turnover/
Sales |
Assets |
Income |
|
July’ 12~June’
13 |
BDT
220 Million |
BDT
28.90 Million |
BDT
8.80 Million |
|
July’ 13~June’
14 |
BDT 257 Million |
BDT 41.52 Million |
BDT 13.10 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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FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Kamruzzaman |
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Designation |
: |
Head of Sales |
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Contract No |
: |
88-01613143723 |
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Locations
Details |
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Operating Address |
: |
House# 1/C (1st & 2nd Floor), Road# 10,
Baridhara, Dhaka-1212, Bangladesh |
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Tel No |
: |
88-02-8113319 |
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Fax No |
: |
Nil |
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E-mail |
: |
info@hrcigw.com |
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Website |
: |
www.hrcigw.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
4500 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
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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. |
Ö |
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Corporate Address: |
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Address |
: |
26, Shyamoli, BU AW Chowdhury Road (Mirpur
Road) Dhaka-1207, Bangladesh |
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Tel No |
: |
88-02-58151790, 58151282, 58155487 |
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Fax No |
: |
88-02-9120761 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
3500 |
Sq. ft. |
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Branches: |
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Address |
: |
Khaja Tower (7th Floor), 95 Mohakhali C/A, Dhaka-1212,
Bangladesh |
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Tel No |
: |
88-02-9886762 |
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Fax No |
: |
- |
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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: |
: |
25 |
Total |
: |
107 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of
Share |
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Karnaphuli Limited |
47 |
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Telecom Foundation |
33 |
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Mr. M. H. Chowdhury |
20 |
DIRECTORS
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Name |
Designation |
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Mr. H. h. Chowdhury |
Chairman |
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Mr. M. H. Chowdhury |
Managing Director |
MANAGEMENT
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Name |
: |
Mr. Kamruzzaman |
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Job Description |
: |
Head of Sales |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01613143723 |
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Name |
: |
Mr. Abdul Razzak |
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Job Description |
: |
Executive |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS
OPERATIONS
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Nature of Activity : |
Internet Service Provider |
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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Others |
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Item dealing In: |
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Products |
: |
IP Telephony Service Provider (IPTSP) |
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Production Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
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Purchasing Terms: |
L/C |
N/A |
Cash |
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Others |
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|||
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Credit : |
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30 days |
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60 days |
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90 days |
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days |
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Selling Terms : |
L/C |
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Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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|
days |
DETAILED
DATA
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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 |
: |
Nil |
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Certified |
: |
Nil |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
BDT 100 Million |
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||||||
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Paid-up Capital |
: |
BDT 1, 00, 000 |
No. of Shares |
: |
100 |
Share
Value |
: |
BDT 1000.0Each |
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Main Assets |
: |
BDT 41.52 Million |
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FINANCIAL
STATEMENT- DETAILED
|
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The subject company don’t submit update full
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Getco Digital GETCO Limited. Getco Technolabs Karnafhuli Limited GETCO International GETCO Online Limited GETCO Trading Limited Easy Fly Express Limited Getco Ventures International GETCO Agro Vision Limited. GETCO Business Solutions Limited. GETCO Agri-Technologies Limited. GETCO Telecommunications Limited. Greenland Engineers & Tractors Company Limited |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
GETCO Group of companies |
BANKING
|
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Bank Name
|
: |
Dutch Bangla Bank
Ltd |
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Bank Address |
: |
Ring Road Branch Ring Road, Adabar, Dhaka-1207, Bangladesh |
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Bank Name
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: |
Al-Arafah Islami Bank Limited |
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Bank Address |
: |
Shyamoli Branch Mollah Khalilur Rahman AVP 13/1 Ring Road,shyamoli,Dhaka Ph: 88-02-9136517(D),9136532 Fax:88-02- 9111024 |
ADVERSE
DATA MONITORING
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Dishonored Checks |
:
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No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record Found |
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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 House# 1/C (1st & 2nd Floor), Road# 10, Baridhara,
Dhaka-1212, Bangladesh. It is situated at Residential area which is a well
decorated modern office. |
GENERAL
COMMENTS
|
|
Subject is mainly engaged in Internet Service Provider. 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.63.55 |
|
|
1 |
Rs.99.86 |
|
Euro |
1 |
Rs.72.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
|
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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 |
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|
-- |
NB |
New Business |
-- |
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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.