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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

484972

Report Date :

09.01.2018

 

IDENTIFICATION DETAILS

 

Name :

DHAKA SOUTH CITY CORPORATION

 

 

Formerly Known As :

DHAKA CITY CORPORATION

 

 

Registered Office :

Nagar Bhaban, Fulbaria, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

01.08.1864

 

 

Legal Form :

State-owned Company

 

 

Line of Business :

Subject is dealing in Waste Management, Urban Planning & Development, City Infrastructure Construction & Maintenance            

 

 

No. of Employees :

11000

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

(30.06.2017)

Current Rating

(30.09.2017)

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 surpassed $25 billion in 2016. The sector continues to grow, despite a series of high-profile factory accidents that have killed more than 1,000 workers and crippling strikes, including a nationwide transportation blockade orchestrated by the political opposition during the first several months of 2015. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $15 billion and 8% of GDP in 2015 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.

 

Source : CIA

 

EXECUTIVE SUMMARY                

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

Dhaka South City Corporation

Company Previous Name

:

Dhaka City Corporation

Head Office

:

Nagar Bhaban, Fulbaria, Dhaka-1000, Bangladesh

Tel No

:

88-02-9568743, 9563510, 9557180-1, 9557964, 9557683, 7161339, 9563504, 9563506

Fax No

:

88-02-9563514

E-mail

:

Nil

Website

:

www.dhakasouthcity.gov.bd, www.dhakacity.org

Date/ Year of Establishment

:

1 August 1864

Parliament Act N0

:

60 of 2009 (Dated:15.10.2009)

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  Corporation

 others (please specify) ________________

Issuing Authority

:

 Parliament                                                           City Corporation

 Municipal Administration                                    Union Council

 Cantonment Board                                               Chief Controller of  Import & Export

 

 

FINANCIALS- SUMMARY

      Year

Turnover/ Sales

 Assets

     Income

30th June, 2017

N/A

N/A

N/A

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Khan Mohammad Bilal

Designation

:

Additional Secretary & Chief  Executive Officer

Contract No

:

88-01709900501

 

                                                               Locations Details

Business Address

:

Nagar Bhaban, Fulbaria, Dhaka-1000, Bangladesh

Tel No

:

88-02-9568743, 9563510, 9557180-1, 9557964, 9557683, 7161339, 9563504, 9563506

Fax No

:

88-02-9563514

E-mail

:

Nil

Website

:

www.dhakasouthcity.gov.bd, www.dhakacity.org

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

1,00,000

Sq. ft.

 

Type of Office :

  :       Commercial Area.

Ö

 

Semi-commercial office Bldg.

 

     

 

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

Zonal Office :

 

Address

:

Nagar Bhaban, (Level# 9), West Block, Fulbaria, Dhaka-1000, Bangladesh

Community Centre, Tilpapara Khilgaon, Dhaka-1219, Bangladesh

Community Centre, Hazi Gani, Azimpur, Dhaka-1211, Bangladesh

Nagar Bhaban, (Level# 9), East Block, Fulbaria, Dhaka-1000, Bangladesh

Sayedabad (Near About Paribahan Pool), Dhaka-1000, Bangladesh

 

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

11000

Warehouse

:

N/A

In Branch

:

N/A

Total

:

11000

Details:

 

                    

 

 

 

Shareholder

 

Names of Share

               

:

 

The People’s Republic of Bangladesh

 

 

 

MANAGEMENT

 

Name

:

Mr. Mohammad Sayeed Khokon

Job Description

:

Mayor

Nationality

:

Bangladeshi

Email address

:

mayor@dhakasouthcity.gov.bd

Other details

:

N/A

 

 

Name

:

Brig Gen. (Dr.) Sheikh Salahuddin

Job Description

:

Chief  Health Officer

Nationality

:

Bangladeshi

Email address

:

chodscc@gmail.com

Other details

:

N/A

 

Name

:

Mr. Md. Shafiqul Alam

Job Description

:

Chief  Waste Management Officer

Nationality

:

Bangladeshi

Email address

:

shafiq7954@yahoo.com

Other details

:

N/A

 

Name

:

Mr. Farazi Shahabuddin Ahmed

Job Description

:

Chief Engineer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Ataur Rahman

Job Description

:

Zonal Executive Officer, Zone-4

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Mohammad Sanaul Hqu

Job Description

:

zonal Executive Officer, Zone-1

Nationality

:

Bangladeshi

Email address

:

huqsanaul@gmail.com

Other details

:

N/A

 

Name

:

Mr. Jakir Hossain

Job Description

:

Chief Public Relation Officer

Nationality

:

Bangladeshi

Email address

:

jhossain1973@yahoo.com

Other details

:

N/A

 

Name

:

Md. Sirajul Islam

Job Description

:

Chief Town Planner

Nationality

:

Bangladeshi

Email address

:

upddcc@yahoo.com

Other details

:

N/A

 

Name

:

Mr. Md. Khademul Karim Iqbal (BCS, Audit& Accounts)

Job Description

:

Chief  Of Audit Officer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Khan Mohammad Bilal

Job Description

:

Additional Secretary & Chief Executive Officer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01709900501

 

 

BUSINESS OPERATIONS

 

Nature of Activity    :

Development

Ö

Trader

 

Dealer

 

Waste Management

Ö

 

 

 

Urban Planning

Ö

Maintenance

Ö

Services

 

City  Infrastructure construction

Ö

 

Item Dealings In:

 

Products

:

Waste Management, Urban Planning & Development, City Infrastructure Construction & Maintenance            

Import Products

:

N/A

Export products

:

N/A

 

Trading Terms:

 

Purchasing Terms:

L/C

N/A

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

 

90 days

 

 

days

 

Selling Terms      :

L/C

 

Cash

 

Others

 

 

 

Credit :

N/A

30 days

 

60 days

 

90 days

 

 

days

 

 

DETAILED DATA

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

N/A

Local Clients

:

N/A

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

Trade Markets

:

 

Exports

:

N/A

Imports

:

N/A

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

 

 

CAPITAL STRUCTURE

 

Capital Invested

:

N/A

 

 Assets

:

N/A

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Name of  The Group

:

Nil

Name of Mother Company

:

Nil

Subsidiary

:

Nil

Sister Concerns

:

Nil

 

 

BANKING

 

Bank Name  

:

Janata Bank Ltd.

Bank Address

:

Nagar Bhaban Branch

5, Phoenix Road, Fulbaria, Dhaka-1000, Bangladesh

Tel: 88-02-9567633, 9555239

 

 

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 Nagar Bhaban, Fulbaria, Dhaka-1000, Bangladesh. It’s Commercial Area.

 

 

GENERAL COMMENTS

 

Subject is mainly engaged in Waste Management, Urban Planning & development, City Infrastructure construction & Maintenance. 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

INR 63.34

UK Pound

1

INR 85.89

Euro

1

INR 76.15

BDT

1

INR 0.77 

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

SYL

                                                


 

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.