MIRA
INFORM REPORT
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Report No. : |
339777 |
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Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
HRC GROUP |
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Registered Office : |
HRC Bhaban (11th Floor, Suite # 702), 46, Kawran Bazar C/A,
Dhaka - 1215 |
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Country : |
Bangladesh |
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Date of Incorporation : |
March 1991 |
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Legal Form : |
Group of Company |
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Line of Business : |
Importer, Distributor, Development, Shipping and Travel Agent of Publisher, Liner Operator, Ship owner, Ticketing |
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No. of Employee : |
500 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
A1 |
A1 |
|
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 |
Executive summary
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
HRC Group |
|
Head Office |
: |
HRC Bhaban (11th Floor, Suite # 702), 46, Kawran Bazar C/A, Dhaka - 1215, Bangladesh |
|
Tel No |
: |
88-02-9133418 - 22, 9115183-5, 8126173-76 |
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Fax No |
: |
88-02-9128991, 8110993 |
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E-mail |
: |
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|
Website |
: |
Nil |
|
Date/ Year of Incorporation |
: |
March 1991 |
|
Incorporation No. |
: |
Nil |
|
Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Group of Company Partnership Not Registered others (please specify)
________________ |
|
Legal form (Specific) |
: |
LTD CORP INC Group of Company others (please specify)
________________ |
|
Issuing Authority |
: |
Registrar of
Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Not Registered |
FINANCIALS- SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
|
July’ 13~June’14 |
BDT1865 Million |
BDT1083.59
Million |
BDT83.92
Million |
|
July’ 14~June’15 |
BDT2469
Million |
BDT1228.25
Million |
BDT133.32
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
|
Information
Parted By |
||
|
Name |
: |
Mr. Mohammed
Nazrul Islam |
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Designation |
: |
Officer (
Commercial) |
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Contract No |
: |
N/A |
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Locations Details |
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Business Address |
: |
HRC Bhaban (11th Floor, Suite # 702), 46, Kawran Bazar C/A, Dhaka - 1215, Bangladesh |
|
Tel No |
: |
88-02-9133418 - 22, 9115183-5, 8126173-76 |
|
Fax No |
: |
88-02-9128991, 8110993 |
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E-mail |
: |
hrc@hrcbd.com, momin@hrcbd.com,
hrckln@hrcbd.com admac@hrc.com |
|
Website |
: |
Nil |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
6500 |
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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Warehouse: |
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Address |
: |
HRC Bhaban(11thFloor, Suite #
702), 46, Kawran Bazar C/A, Dhaka - 1215, Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
10000 |
Sq. ft. |
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Branches: |
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Address |
: |
Nil |
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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 |
: |
475 |
Warehouse |
: |
25 |
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In Branch: |
: |
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Total |
: |
500 |
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Details: |
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BOARD OF DIRECTORS
|
Board of
Directors |
: |
Mr. SayeedHossainChowdhury-Chairman Mr. A.S.M. Shahidullah Khan- Managing
Director |
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|
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Mr. A.Z.M. Enayatullah Khan- Director Mr. Md. MonowarulHaqe- Director Mr. ZaydAlmer Khan- Director |
MANAGEMENT
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Name |
: |
Mr. Mohammed Nazrul Islam |
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Job Description |
: |
Officer ( Commercial) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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|
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Name |
: |
Mr. HabiburRahman |
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Job Description |
: |
Assistant General Manager |
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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: |
Development |
Ö |
Travel Agent |
Ö |
Dealer |
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Distributor |
Ö |
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Shipping |
Ö |
Importer |
Ö |
Services |
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Others |
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Item Dealings
In: |
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Products |
: |
Publisher, Liner Operator, Ship owner,
Ticketing |
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Production Capacity |
: |
N/A |
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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 |
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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 |
|
60 days |
|
90 days |
|
|
days |
DETAILED DATA
|
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 |
: |
India, China |
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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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CAPITAL STRUCTURE
|
Capital Invested |
: |
BDT500Million |
|
Assets |
: |
BDT
1228.25Million |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
Sister Concerns |
: |
Travel Wise Ltd HRC Freight Ltd HRC Travels Ltd HRC Lighting Ltd HRC Products Ltd Arkan Express Ltd HRC Agrocom Ltd HRC Shipping Ltd HRC Syndicate Ltd. HRC Properties Ltd. HRC Beverages Ltd Travel Wise Limited Hamid Properties Ltd Bangladesh Land Ltd HRC Bangladesh Ltd Media New Age Limited Baridhi Shipping Lines Ltd Bangladesh Shipping Lines Ltd |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
N/A |
BANKING
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Bank Name
|
: |
The Commercial
Bank of Ceylon Limited |
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Bank Address |
: |
47 MotijheelC/A, Dhaka -1000, Bangladesh |
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Bank Name
|
: |
Prime Bank
Limited |
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Bank Address |
: |
54 Kawran Bazar C/A, Dhaka-1215, Bangladesh |
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||
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Bank Name
|
: |
Dhaka Bank
Limited |
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Bank Address |
: |
Adamjee Court 115-120 MotijheelC/A, Dhaka-1000, Bangladesh |
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Bank Name
|
: |
The City Bank
Limited |
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Bank Address |
: |
Kawran Bazar Branch 41/1 KaziNazrul Islam Avenue, Dhaka-1215. |
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Bank Name
|
: |
Southeast Bank
Limited |
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Bank Address |
: |
1 DilkushaC/A, Dhaka-1000, Bangladesh |
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Bank Name
|
: |
Standard Bank
Limited |
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Bank Address |
: |
122-124, MotijheelC/A, Dhaka-1000, Bangladesh |
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Bank Name |
: |
IFIC Bank Limited |
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Bank Address |
: |
Kawran Bazar Branch Petro Centre 3 Kawran Bazar C/A, Dhaka-1215, Bangladesh |
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Bank Name
|
: |
National Credit and Commerce Bank Limited |
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Bank Address |
: |
Kawran Bazar Branch 3/A Hasney Tower Kawran Bazar C/A, Dhaka-1215, Bangladesh |
ADVERSE DATA MONITORING
|
Dishonored Checks |
:
|
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 HeadOffice which is
situated atHRC Bhaban, (11th Floor, Suite # 702), 46, Kawran Bazar Commercial
Area, Dhaka - 1215, Bangladesh. It is Situated at Commercial area. |
GENERAL COMMENTS
|
The subject company is engaged in Importer, Development, Shipping,
Travel Agent & Distributor. It is reputed company in this line of
business. We recommended that Credit can proceed normally in Moderate amount. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.29 |
|
|
1 |
Rs.101.89 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.