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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

502571

Report Date :

09.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ENERGYPAC POWER GENERATION LTD.

 

 

Registered Office :

Energy Center (1st & 2nd Floor), 79, Shahid Tajuddin Sarani (Old: 25, Tejgaon I/A), Tejgaon I/A, Dhaka-1208

 

 

Country :

Bangladesh

 

 

Financials (as on) :

30.06.2017 (Summarized)

 

 

Date of Incorporation :

15.07.1995

 

 

Com. Reg. No.:

C-28822

 

 

Legal Form :

Public (but not listed) 

 

 

Line of Business :

Project Consultant, Distributor and Importer of Diesel Generator, forklift, Motor Vehicle, Heavy Loader, CNG conversion Kits, Elevator, Passenger Lift, Waste Heat Recovery Boiler.

 

 

No. of Employees :

600

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A+

 

Credit Rating

Explanation

 

Rating Comments

A+

Low Risk

Business dealings permissible with low risk of default

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Bangladesh

A2

A2

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

 

BANGLADESH - ECONOMIC OVERVIEW

 

Bangladesh's economy has grown roughly 6% per year since 1996 despite prolonged periods of political instability, poor infrastructure, endemic corruption, insufficient power supplies, and slow implementation of economic reforms. Although more than half of GDP is generated through the services 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 were on track to again surpass $25 billion in 2017. The sector continues to grow, despite the need for improvements in factory working conditions to avert further high-profile accidents that have killed more than 1,000 workers in recent years. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $13 billion and 6% of GDP in 2016 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.

The recent influx of hundreds of millions of additional refugees from Burma will place pressure on the Bangladeshi government’s budget and the country’s rice supplies, which declined in 2017 in part because of adverse weather.

 

Source : CIA

 

 

Company name and address

 

ENERGYPAC POWER GENERATION LTD.

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Energypac Power Generation Ltd.

Head Office

:

Energy Center (1st & 2nd Floor), 79, Shahid Tajuddin Sarani (Old: 25,

Tejgaon I/A), Tejgaon I/A, Dhaka-1208, Bangladesh

Tel No

:

88-02-8870669

Fax No

:

Nil

E-mail

:

info@energypac.com, epgl@energypac.com

Website

:

www.energypac.com

Date/ Year of Incorporation

:

15.07.1995

Incorporation No.

:

C-28822  

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)

 

 

Other Registry & Certification Details

 

Taxpayer’s Identification No (TIN)

:

154670366337

Date of Registration

:

N/A

Issuing Authority

:

National Board of Revenue

 

 

 

FINANCIALS- SUMMARY

      Year

Turnover/ Sales

 Assets

     Income

30th June, 2016

BDT 8195.07 Million

BDT 11979.43 Million

BDT 1031.81 Million

30th June, 2017

BDT 7829.50 Million

BDT 10680 Million

BDT 973.50 Million

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Aminur Rahman Khan

Designation

:

DGM & Head ( Finance & Accounts Division)

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

Energy Center (1st & 2nd Floor), 79, Shahid Tajuddin Sarani (Old: 25,

Tejgaon I/A), Tejgaon I/A, Dhaka-1208, Bangladesh

Tel No

:

88-02-8870669

Fax No

:

Nil

E-mail

:

info@energypac.com, epgl@energypac.com

Website

:

www.energypac.com

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

8500

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

Ö

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

Warehouse:

 

 

Address

:

Hotapara, Gazipur, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Branch:

 

 

Address

:

Chittagong, Khulna, Mymensing, Rangpur, Sylhet, Bogra.

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

80

Warehouse

:

46

Sales

:

474

Total

:

600

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

Names of Shareholders

No. of Share

Country

Mr. Robiul Alam

6054983

Bangladesh.

Mr. Enamul Haque Chowdhury

6054983

Bangladesh.

Mr. Humayun Rashid

6054983

Bangladesh.

Engr. Nurul Aktar

6054983

Bangladesh.

Engr. Rezwanul Kabir

6054983

Bangladesh.

Energypac Engineering Ltd.

72659790

Bangladesh.

Dr. Meerjady Sabrina Flora

6054982

Bangladesh.

Mrs. Mahfuza Rahman Chowdhury

6054981

Bangladesh.

Mrs. Rifat Farzana

6054982

Bangladesh.

54 (General Shareholders)

28770000

Bangladesh.

 

 

DIRECTORS

 

1.      

 

 

Name

:

Mr. Robiul Alam

Designation

:

Chairman

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

2.      

 

 

Name

:

Mr. Humayun Rashid

Designation

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

3.      

 

 

Name

:

Mr. Enamul Haque Chowdhury

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

4.      

 

 

Name

:

Engr. Nurul Aktar

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

5.      

 

 

Name

:

Engr. Rezwanul Kabir

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

6.

 

 

Name

:

Mr. Md. Rafiqul Islam

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

7.

 

 

Name

:

Dr. Mohammad Tamim

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

8.

 

 

Name

:

Mr. Md. Iftikhar-Uz-Zaman

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

9.

 

 

Name

:

Mr. Golam Mohammad

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

10.

 

 

Name

:

Mr. Khondkar Atique-E-Rabbani

Designation

:

Independent Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

MANAGEMENT

 

Name

:

Mr. Humayun Rashid    

Job Description

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Rezwanul Kabir

Job Description

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. A.B. M. Rajiur Rahman

Job Description

:

Chief Operating Officer

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Aminur Rahman Khan

Job Description

:

DGM & Head ( Finance & Accounts Division)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Mozaharul Islam.

Job Description

:

Sr. Manager (Head of Supply Chain Management)

Nationality

:

Bangladeshi.

Email address

:

N/A

 

Name

:

Mr. A.B.M. Aminur Rashid

Job Description

:

AGM (Head of Customer Facing Unit)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Eng. Mostafizur Rahman

Job Description

:

Chief Marketing Officer

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Project Consultant

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

Ö

Services

Ö

Others

 

 

Item dealing In:

 

Products

:

Diesel Generator, forklift, Motor Vehicle, Heavy Loader, CNG conversion

Kits, Elevator, Passenger Lift, Waste Heat Recovery Boiler.

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 Companies

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

Trade Markets

:

 

Exports(Country)

:

N/A

Imports(Country)

:

China, India, Europe

Brand Name

:

N/A

Certified

:

ISO 9001:2008

Name of Auditors

:

Rahman Rahman Huq-Chartered Accountants

Operation Status

:

Active.

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 5000 Million

 

Paid-up Capital

:

BDT 1498696500

 

No. of Shares

:

149869650

 

Share Value

:

BDT 10.00 Each

 

Main Assets

:

BDT 10680 Million

 

 

FINANCIAL STATEMENT- DETAILED

 

Summary of financial information has been provided

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Name of  The Group

:

Energypac Group

Subsidiary

:

N/A

Sister Concerns

:

Tecadvantage Ltd.

Energypac Agro Ltd.

Energypac Fashions Ltd.

Energypac Seafoods Ltd.

Energypac Electronics Ltd.

Energypac Engineering Ltd.

Energypac Ceramic Limited

Energypac Batteries Limited

Energypac Sea Food Limited

Energypac Transformer Limited

Energypac Power Systems Limited

Energypac Confidence Power Venture Limited

Energypac Infrastructure & Development Limited

Sonargaon Leather & Rexin Cloth Industries Limited

 

 

BANKING

                                   

Bank Name  

:

Hong Kong Shanghai Banking Corporation                                                                   

Bank Address

:

Head Office Branch

Anchor Tower, 108, Bir Uttam C R Dutta Road, Dhaka-1205, Bangladesh

Tel: 88-02-9660536-43

Fax: 88-02-9660554, 9669457

 

Bank Name  

:

Standard Chartered Bank.                                                                                 

Bank Address

:

Gulshan Branch

67, Gulshan Avenue, Gulshan, Dhaka-1212, Bangladesh.                                                                         

 

Bank Name  

:

Prime Bank Ltd.

Bank Address

:

Motijheel Branch.

Adamjee Court Annexe Building -2, 119-120, Motijheel C/A, Dhaka-1000,

Bangladesh

Tel: 88-02-9567225, 9562982

Fax: 88-02-9567223

 

Bank Name  

:

Brac Bank Ltd.

Bank Address

:

Gulshan Branch.

Gulshan Avenue, House # 50 (Ground Floor), Road # 3, Gulshan,

Dhaka-1212, Bangladesh

Tel: 88-02-8828054, 8819037-8

Fax: 88-02-8894801, 8818624

 

 

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

 

The subject company Head Office is situated at Energy Center (1st & 2nd Floor), 79, Shahid Tajuddin Sarani (Old: 25, Tejgaon I/A), Tejgaon I/A, Dhaka-1208, Bangladesh. It is situated at an Industrial Area.

 

 

GENERAL COMMENTS

 

SC has been in this line of business for about 23 years. Considering its financial condition, we recommend that Credit can proceed promptly in Fairly large amount.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.99

UK Pound

1

INR 90.96

Euro

1

INR 79.51

BDT

1

INR 0.78

Note: Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

NIT

 

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

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.