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MIRA INFORM REPORT
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Report No. : |
485410 |
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Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
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Name : |
BANDAR STEEL
INDUSTRIES LIMITED |
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Registered Office : |
81, Syed Nazrul Islam Sharani, Militola
Lane, Dhaka-1100 |
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Country : |
Bangladesh |
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Date of Incorporation : |
16.04.2002 |
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Com. Reg. No.: |
C-45554 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Distributor and Importer of Rods. |
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No. of Employees : |
175 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
COMPANY
NAME AND ADDRESS
BANDAR STEEL
INDUSTRIES LIMITED
EXECUTIVE
SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Bandar Steel Industries Limited |
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Head Office |
: |
Akram Tower (Suite# 6, 10th
Floor), 199 Sayed Nazrul Islam Sarani, (15/5 Bijoy Nagar), Dhaka-1000, Bangladesh |
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Tel No |
: |
88-02-8391330-1, 8391087 |
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Fax No |
: |
Nil |
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E-mail |
: |
Bikrampur_bandar@yahoo.com,
bandarsteel@gmail.com |
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Website |
: |
www.bandarsteel.com |
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Date/ Year of Incorporation |
: |
16/04/2002 |
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Incorporation No. |
: |
C-45554 |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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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/
(Loss) |
|
30th June’2015 |
BDT 2730.84 Million |
BDT 1056.73 Million |
BDT 150.15 Million |
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30th June’2016 |
BDT 3215.04 Million |
BDT 1771.71 Million |
BDT 35.39 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Md. Abdul
Kalam |
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Designation |
: |
Managing Director |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
: |
Akram Tower (Suite# 6, 10th
Floor), 199 Sayed Nazrul Islam Sarani, (15/5 Bijoy Nagar), Dhaka-1000, Bangladesh |
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Tel No |
: |
88-02-8391330-1, 8391087 |
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Fax No |
: |
Nil |
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E-mail |
: |
bikrampur_bandar@yahoo.com,
bandarsteel@gmail.com |
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Website |
: |
www.bandarsteel.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
14,00 |
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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Factory: |
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Address |
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Muradpur, Madanpur, Bandar,
Narayangonj, 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 |
890 |
Decimal |
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Registered Address : |
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Address |
: |
81, Syed Nazrul Islam Sharani, Militola
Lane, Dhaka-1100, 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 |
: |
23 |
In Factory |
: |
152 |
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In Branch: |
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N/A |
Total |
: |
175 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of
Share |
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Mr. Md. Serajul Islam |
15000 |
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Mr. Md. Abdul Kalam |
10000 |
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Mr. Md. Harun-ur-Rashid |
10000 |
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Mrs. Sabina Yasmeen |
3500 |
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Mr. Alhaj Md. Akhtar Hossain Khan |
2500 |
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Mr. Md. Kamrul Islam Pappu |
5000 |
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Mr. Sharif Ahmed |
2000 |
DIRECTORS
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Name |
Designation |
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Mr. Md. Serajul Islam |
Chairman |
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Mr. Md. Abdul Kalam |
Managing Director |
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Mr. Md. Harun-ur-Rashid |
Director |
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Mrs. Sabina Yesmin |
Director |
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Alhaj Md. Akter Hossain Khan |
Director |
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Mr. Md. Kamrul Islam |
Director |
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Mr. Sharif Ahmed |
Director |
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Mr. Mr. Kausar Ahmed |
Director |
MANAGEMENT
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Name |
: |
Mr. Md. Abdul
Kalam |
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Job Description |
: |
Managing Director |
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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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Name |
: |
Mr. Rafiul Abed
Sumit |
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Job Description |
: |
Sales In-charge |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
88-01730909178 |
BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
Ö |
Services |
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Others |
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Range of
Products: |
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Products |
: |
Rods |
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Production Capacity |
: |
200 Tons per day |
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Last Year
Production |
: |
Do |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
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Cash |
Ö |
Others |
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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|
days |
DETAILED
DATA
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Trade Reference & Related Parties |
: |
Overseas Clients |
: |
N/A |
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Local Clients |
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N/A |
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Overseas Suppliers |
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N/A |
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Local Suppliers |
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N/A |
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Trade Markets |
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Exports(Country) |
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N/A |
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Imports(Country) |
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India, China |
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Brand Name |
: |
N/A |
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Certified |
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N/A |
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Name of Auditors |
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N/A |
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Operation Status |
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Active |
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CAPITAL
STRUCTURE
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Authorized Capital |
: |
BDT 10 Million |
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Paid-up Capital |
: |
BDT 4800000 |
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No. of Shares |
: |
48000 |
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Share Value |
: |
BDT100.00Each |
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Main Assets |
: |
BDT 1771.71 Million |
FINANCIAL
STATEMENT- DETAILED
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Summary Information Given. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Nil |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
Nil |
BANKING
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Bank Name
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: |
Prime Bank Ltd |
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Bank Address |
: |
Bangshal Branch 43/44 Malitola, North South Road, Bangshal,
Dhaka-1100, Bangladsh Tel: 88-02- 9561501, 7123480 Fax: 88-02-9561501 |
ADVERSE
DATA MONITORING
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Dishonored Checks |
:
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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
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Our representative visited the subject company Head Office which is
situated at Akram Tower (Suite# 6, 10th Floor), 199 Sayed Nazrul
Islam Sarani, (15/5 Bijoy Nagar), Dhaka-1000, Bangladesh. It is Situated at
Commercial Area. |
GENERAL
COMMENTS
|
The subject company is a well-known reputed company in Bangladesh. 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 63.53 |
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|
1 |
INR 86.05 |
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Euro |
1 |
INR 76.53 |
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BDT |
1 |
INR 0.77 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.