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Report No. : |
352143 |
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Report Date : |
30.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
POWER UTILITY
BANGLADESH LIMITED |
|
|
|
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Registered Office : |
Bengal House, 75, Gulshan Avenue, Gulshan-1, Dhaka-1212 |
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Country : |
Bangladesh |
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Date of Incorporation : |
01.07.1994 |
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Com. Reg. No.: |
C-35718 |
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Legal Form : |
Private Company |
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Line of Business : |
Distributor and Service Provider of Solar System and Solar Power
Plant. |
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|
|
|
No. of Employees : |
30 |
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 |
|
|
|
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Bangladesh |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
: |
Power Utility Bangladesh Limited |
|
Head Office |
: |
Bengal House, 75, Gulshan Avenue, Gulshan-1, Dhaka-1212, Bangladesh |
|
Tel No |
: |
88-02-9888248, 01978111111 |
|
Fax No |
: |
88-02-8827507 |
|
E-mail |
: |
info@bengal.com.bd, solar@bengal.com.bd |
|
Website |
: |
www.power.bengalgroup.com |
|
Date/ Year of Incorporation |
: |
01.07.1994 |
|
Incorporation No. |
: |
C-35718 |
|
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 |
BDT 135 Million |
BDT 29.60 Million |
BDT 4.99 Million |
|
July’ 14~June’
15 |
BDT 187 Million |
BDT 39.85 Million |
BDT 11.40 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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|
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Name |
: |
Mr. Shurov Anik |
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Designation |
: |
Executive |
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Contract No |
: |
N/A |
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Locations Details |
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||
|
Operating Address |
: |
Bengal House, 75, Gulshan Avenue, Gulshan-1, Dhaka-1212, Bangladesh |
|
Tel No |
: |
88-02-9888248, 01978111111 |
|
Fax No |
: |
88-02-8827507 |
|
E-mail |
: |
info@bengal.com.bd, solar@bengal.com.bd |
|
Website |
: |
www.power.bengalgroup.com |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
4800 |
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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Warehouse : |
||
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Address |
: |
95/A, Tejgaon I/A, Dhaka-1212, Bangladesh |
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Tel No |
: |
N/A |
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Fax No |
: |
N/A |
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Owned |
Ö |
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Rented |
|
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Leased |
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Area |
|
Sq. ft. |
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Branches: |
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Address |
: |
House # 14 (5th Floor), Road #
32, Gulshan-1, Dhaka-1212, Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
10 |
Warehouse |
: |
20 |
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In Branch: |
: |
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Total |
: |
30 |
|||
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Details: |
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|||||
OWNERSHIP/SHAREHOLDERS |
|
|
Names of Shareholders |
No. of
Share |
|
Mr. Morshed Alam |
1750 |
|
Mr. Md. Jashim Uddin |
1250 |
|
Mrs. Bilkis Nahar |
750 |
|
Mr. Humayun Kabir |
1000 |
|
Mr. Mirza Md. Fazly Rubby |
250 |
DIRECTORS |
|
|
Name |
Designation |
|
Mr. Morshed Alam |
Chairman |
|
Mr. Md. Jashim Uddin |
Managing
Director |
|
Mrs. Bilkis Nahar |
Director |
|
Mr. Humayun Kabir |
Director |
|
Mr. Mirza Md. Fazly Rubby |
Director |
MANAGEMENT |
||
|
Name |
: |
Mr. Abdul Shukur (Liton) |
|
Job Description |
: |
Deputy Manager (Finance & Accounts) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Shurov Anik |
|
Job Description |
: |
Executive |
|
Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mr. Imrul Bhuiyan |
|
Job Description |
: |
Officer |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
|
Other details |
: |
88-01717035070 |
BUSINESS OPERATIONS |
||||||||
|
Nature of Activity : |
Installation |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
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|||||||
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Exporter |
|
Importer |
Ö |
Services |
Ö |
Others |
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Item Dealings
In: |
||
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||
|
Products |
: |
Solar System & Solar Power Plant. |
|
Production Capacity |
: |
N/A |
|
Last Year
Production |
: |
N/A |
Trading Terms:
|
Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
|
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|||
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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 |
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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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||||
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Trade Markets |
: |
Exports |
: |
N/A |
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|||||
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Imports |
: |
India, China |
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|||||||
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Brand Name |
: |
Nil |
||||||||
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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 50 Million |
|
||||||
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Paid-up Capital |
: |
BDT 500000 |
No. of Shares |
: |
5000 |
Share
Value |
: |
BDT100.00Each |
|
|
Main Assets |
: |
BDT 39.85 Million |
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||||||
|
Summary information given |
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Sister Concerns |
: |
Polycord Ltd. Poly Cord Ltd. Ace Cargo Ltd Jack In The Box Aitr Alliance Ltd Bangla Knittex Ltd Nutri Com Limited. Bevgla Hi Style Ltd Bangla Nfk Limited Mercantile Bank Ltd Bengal Poly Pack Ltd Ast Knitwear Limited Bengla Airlift Limited Arabi Fashion Limited Bengal Agro Estate Ltd The Steel Fabricators Ltd Bengal Hyper Market Ltd Windsor Plastics (Bd) Ltd Ace Aviation Services Ltd Bengal Sack Architect Ltd R-Tv (Television Channel) Xenergia International Ltd Bengal Polymer Wears Ltd. Bengal Group Of Industries Bengal Plastic Industries Ltd Bengla Travel And Tours Ltd Bengla Cng- Lng Service Ltd Power Utility Bangladesh Ltd Bengal Spinning & Wears Ltd Bengal Poly & Paper Sack Ltd. Romania Food & Beverage Ltd. Desh General Insurance Co. Ltd. Bengal Concept & Holdings Ltd. Hamilton Metal Corporation Ltd. Bengal Build-Up Bangladesh Ltd. Bengal Hotels & Resorts Limited Bengal Overseas Corporation Ltd Bengal Teletech (Bangladesh) Ltd Bengal Corrugated Carton Ind. Ltd. Bengal Windsor Thermoplastics Ltd. Compact Fluorescent Lamps Co. Ltd Bengal Adhesives & Chemical Prod Ltd Novel Hurricane Knit Garments Limited Bengal Hurricane Dyeing & Printing (Pvt.) Ltd |
|
Subsidiary |
: |
N/A |
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Name of The Group |
: |
Bengal Group of Industries Limited |
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Bank Name
|
: |
Dutch Bangla Bank
Ltd |
|
Bank Address |
: |
Gulshan Branch The Grand Delvistaa, CES (A) 1/A, Road # 113,Gulshan Avenue, Dhaka-1212, Bangladesh. |
|
|
||
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Bank Name
|
: |
Southeast Bank |
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Bank Address |
: |
Gulshan Branch Opened # 1997-05-04, House # 82 CES (F), 1, Gulshan Avenue Dhaka-1212, Bangladesh. Tel: 88-02-9883491, 9883401-5, 9883492 Fax: 88-02-9883495 |
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|
|
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Bank Name
|
: |
Exim Bank Ltd |
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Bank Address |
: |
Gulshan Branch Delta Life Tower, Plot # 37, Road # 45
& 90, North Gulshan C/A, Gulshan-2, Dhaka-1212,
Bangladesh. Tel: 88-02-9862262, 9886296, 8819711 Fax: 88-02-8818703 |
|
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 Bengal House, 75, Gulshan Avenue, Gulshan-1, Dhaka-1212, Bangladesh. It is
situated at residential area. |
GENERAL COMMENTS |
|
The subject company is engaged in Importer, Distributor Installation
& Service. It is reputed company in this line of business. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.68 |
|
Euro |
1 |
Rs.70.88 |
|
BDT |
1 |
Rs.0.86 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.