MIRA INFORM REPORT

 

 

Report No. :

342240

Report Date :

23.09.2015

 

IDENTIFICATION DETAILS

 

Name :

SAMUDA CHEMICAL COMPLEX LTD.

 

 

Registered Office :

TK Bhaban (11th Floor), 13 Kawran Bazar, Nazrul Islam Avenue, Dhaka-1215

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

25.01.2006

 

 

Com. Reg. No.:

CH-5710

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer and Distributor of Caustic Soda, Stable bleaching Powder,  Liquid Chlorine, Chlorinated Paraffin Wax,  Sodium Hypochlorite, Hydrogen Peroxide, Hydrochloric Acid.

 

 

No. of Employees :

360

 

 

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

 

 

Payment Behaviour :

No Complaints

 

 

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

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

 

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Samuda Chemical Complex Ltd.

Head Office

:

TK Bhaban (11th Floor), 13 Kawran Bazar, Nazrul Islam Avenue,

Dhaka-1215, Bangladesh.                                                                             

Tel No

:

88-02-9131308, 9142022, 9142733

Fax No

:

88-02-8120220

E-mail

:

info@scclbd.com, sales@scclbd.com

Website

:

www.scclbd.com

Date/ Year of Incorporation

:

25.01.2006

Incorporation No.

:

CH-5710

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 582 Million

BDT 4131.59 Million

BDT 8.60 Million

July’ 14~June’ 15

BDT 931 Million

BDT 4182.43 Million

BDT 29.27 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

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Nahid Hossain

Designation

:

Officer (Commercial)

Contract No

:

88-01730318270

 

 

                                                               Locations Details

 

Operating Address

:

TK Bhaban (11th Floor), 13 Kawran Bazar, Nazrul Islam Avenue,

Dhaka-1215, Bangladesh.                                                                              

Tel No

:

88-02-9131308, 9142022, 9142733

Fax No

:

88-02-8120220

E-mail

:

info@scclbd.com, sales@scclbd.com

Website

:

www.scclbd.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

4500

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

Ö

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

 

Factory-(Unit-1):

 

 

 

Address

:

Al-Amin Baria, Chandgaon I/A, Chittagong, Bangladesh

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

1.5

Acores

 

 

Factory-(Unit2):

 

 

 

Address

:

Sikirgaon, Gazaria, Munshiganj, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Location :

Owned

Ö

 

Rented

 

 

Leased

 

Area

2

Acores

 

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

25

In Factory

:

335

In Branch:

:

-

Total

:

360

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Ms. Farzana Afroze

                                  200

Ms. Rizwana Afroze

                                  200

Mr. Mohammad Abul Kalam

                                  200

Mrs. Khaleda Begum

                                  200

Mr. Md. Mustafa Haider

                                  200

 

 

DIRECTORS

 

Name

Designation

Ms. Farzana Afroze

Chairperson

Mr. Md. Mustafa Haider

Managing Director

Mr. Mohammad Abul Kalam

Director 

Mrs. Khaleda Begum

Director 

Ms. Rizwana Afroze

Director 

 

 

MANAGEMENT

 

Name

:

Mr. Tariq Ahmed

Job Description

:

Chief Operating Officer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Ibrahim Khalil

Job Description

:

Admin Officer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01730318270

 

Name

:

Mr. Nasim  Anwar

Job Description

:

CEO

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

 

Range of Products:

 

Products

:

Caustic Soda, Stable bleaching Powder,  Liquid Chlorine, Chlorinated Paraffin Wax,  Sodium Hypochlorite, Hydrogen Peroxide, Hydrochloric Acid.

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

 

Cash

Ö

Others

 

 

 

Credit :

Ö

30 days

 

60 days

 

90 days

 

 

days

 

 

DETAILED DATA

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

N/A

Local Clients

:

Local whole sellers

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports

:

N/A

 

Imports

:

China, India, Japan, Germany

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

Nil

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 5000 Million

 

Paid-up Capital

:

BDT 100000

    No. of Shares

:

1000

Share Value

:

BDT 100.00Each

Main Assets

:

BDT 4182.43 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

The subject company don’t submit update full financial figure to local registry office.

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Uni-Trade

MAF Shies Ltd

Riff Leather Ltd

T.K. Refinery Ltd.

MaAF Motors Ltd

M.B. Telecom Ltd.

Masud & Brothers

Super Oil Mills Ltd.

MAF Shoes Limited

Riff Leather Limited

Super Thread Limited

Asia Insurance Co. Ltd.

Asia Insurance Co. Ltd.

T.K. Food Products Ltd

Samuda Containers Ltd

Asia Insurance Limited

Aching Home Fiber Ltd

Modern Polly Fiber Ltd.

Super Formica Mills ltd

Modern Polly Fiber Ltd.

Super Synthetic Limited

Samuda Cement Ind. Ltd.

Chin Hung Fibres Limited

Modern Hatchery Limited

Karnafully Steel Mills Ltd    

Super Board Mills Limited.

Modern Power Co. Limited

Super Particle Bord Limited.

Rubi Food Products Limited

Bay Fishing Corporation Ltd

Premier Cement Mills Limited

MAF Newsprint Mills Limited

T.K Chemical Complex Limited

Shabnam Vegetable Oil Ind. Ltd.

Modern Polly Industries Limited

Mohammadi Trading Co. Limited

Modern Fibers Industries Limited

Super Knitting and Dyeing Mills Ltd

Karnafully Galvanizing Mills Limited

Super Knitting & Dying Mills Limited

Bangladesh Timber & Plywood Limited

Subsidiary

:

N/A

Name of  The Group

:

TK Group of Industries

 

 

BANKING

 

Bank Name  

:

Standard Bank Limited

Bank Address

:

Khatunganj Branch

Asma Chamber, 1649 (New), Ramjoy Mohajon Lane,

Khatungonj, Chittagong, Bangladesh                                                                   

Tel: 88-031-610192, 639593-4

Fax: 88-031-610193

 

Bank Name  

:

One Bank Ltd.

Bank Address

:

Khatunganj Branch

110-111, Khatunganj,

Chittagong, Bangladesh

Tel: 88-031-619377, 621252, 635645, 635526

Fax: 88-031-624454

 

 

Bank Name  

:

Trust Bank limited

Bank Address

:

Khatunganj Branch

205, Main Road, Plot # 218,

Kahtunganj, Chittagong, Bangladesh

Tel: 88-031-627860, 841718

Fax: 88-031-841719

 

 

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

 

Our Representative Visited the subject company Head office which is situated at TK Bhaban (11th Floor), 13 Kawran Bazar, Nazrul Islam Avenue, Dhaka-1215, Bangladesh. It is Situated at Semi- Commercial area.

 

 

GENERAL COMMENTS

 

The subject company is engaged in manufacturer & Distributors. It is reputed company in this line of business.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.63

UK Pound

1

Rs.101.73

Euro

1

Rs.73.26

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.