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MIRA INFORM REPORT
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Report No. : |
516648 |
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Report Date : |
28.06.2018 |
IDENTIFICATION DETAILS
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Name : |
ABEDIN EQUIPMENT LIMITED |
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Registered Office : |
House# CWS(B)74, Road#25, Gulshan-1, Dhaka-1212 |
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Country : |
Bangladesh |
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Date of Incorporation : |
15.07.2003 |
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Com. Reg. No.: |
C-49868 |
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Legal Form : |
Private Company |
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Line of Business : |
Agent, Distributor, Importer and Services of Power Tools & Equipment, Automotive Spares & Accessories and Fixing System, Tractor |
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No. of Employees : |
30 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
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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 2005 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 $28 billion in FY 2016-17. The sector continues to grow despite the need for improvements in factory safety conditions and workers’ rights to avert further high-profile accidents that killed more than 1,000 workers in 2012 and 2013. In FY 2016-17, steady export growth in the garment sector, combined with $13 billion in remittances from overseas Bangladeshis, contributed to Bangladesh's rising foreign exchange reserves.
The recent influx of over 700,000 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 record flooding. Recent improvements to energy infrastructure, including the start of liquefied natural gas imports in 2018, represent a major step forward in resolving a key growth bottleneck.
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Source : CIA |
Company
name
ABEDIN EQUIPMENT LIMITED
EXECUTIVE
SUMMARy
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IDENTIFICATION DETAILS |
||
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Correct company Name |
: |
Abedin Equipment
Limited |
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Head Office |
: |
House# CWS(B)74, Road#25, Gulshan-1, Dhaka-1212, Bangladesh |
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Tel No |
: |
88-02-9880860,
8818718-19, 9853811 |
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Fax No |
: |
88-02-9881220 |
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E-mail |
: |
info@abedinequipment.com,
info@accl.group_qa.com |
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Website |
: |
www.abedinequipment.com |
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Date/ Year of Incorporation |
: |
15.07. 2003 |
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Incorporation No. |
: |
C-49868 |
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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 |
FINANCIALS-
SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income/
(Loss) |
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30th June, 2017 |
N/A |
N/A |
N/A |
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Note |
: |
SC’s didn’t submit financials to local
registry office. Therefore no financials are available for this entity. |
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FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Tasrin Hossain Rumman |
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Designation |
: |
Officer (HR & Admin) |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
: |
House# CWS(B)74, Road#25, Gulshan-1, Dhaka-1212, Bangladesh |
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Tel No |
: |
88-02-9880860, 8818718-19,
9853811 |
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Fax No |
: |
88-02-9881220 |
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E-mail |
: |
info@abedinequipment.com,
info@accl.group_qa.com |
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Website |
: |
www.abedinequipment.com |
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Location : |
:
Owned |
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Rented |
Ö |
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Leased |
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Area |
2800 |
Sq. ft. |
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Type of Office
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: Commercial Office Bldg. |
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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. |
Ö |
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Warehouse Address: |
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Address |
: |
Arulia, Bogra, Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Branch Address: |
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Address |
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B-52, Kemal Ataturk
Avenue, Banani. Dhaka- 1213 , 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 |
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10 |
In Factory |
: |
Nil |
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Sales |
: |
20 |
Total |
: |
30 |
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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. Quazi A.F.M.Zainul Abedin |
5000 |
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Mrs. Nilufar Abedin |
5000 |
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Mr. Quazi Nazmul Abedin |
5000 |
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Mr. Quazi Ehsanul Abedin |
5000 |
DIRECTORS
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Name |
Designation |
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Mr. Quazi A.F.M.Zainul Abedin |
Managing Director |
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Mrs. Nilufar Abedin |
Director |
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Mr. Quazi Nazmul Abedin |
Director |
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Mr. Quazi Ehsanul Abedin |
Director |
MANAGEMENT
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Name |
: |
Mr. Quazi A.F.M.Zainul
Abedin |
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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. Tasrin Hossain Rumman |
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Job Description |
: |
Officer (HR & Admin) |
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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 : |
Agent |
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 |
Ö |
Others |
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Item
dealing in: |
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Products |
: |
Power Tools & Equipment, Automotive
Spares & Accessories And Fixing System, Tractor |
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Production
Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading
Terms:
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Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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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 |
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N/A |
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Local Clients |
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N/A |
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Overseas Suppliers |
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Bosch Limited Robert Bosch GmbH Fischer Werke GmbH |
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Local Suppliers |
: |
N/A |
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Trade Markets |
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Exports |
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N/A |
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Imports |
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India, Germany |
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Brand Name |
: |
N/A |
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Certified |
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N/A |
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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 50 Million |
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Paid-up
Capital |
: |
BDT 20000000 |
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No. of Shares |
: |
20000 |
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Share
Value |
: |
BDT100.00Each |
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Main
Assets |
: |
N/A |
FINANCIAL
STATEMENT- DETAILED
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SC’s didn’t submit financials to local registry office.
Therefore no financials are available for this entity. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Kaniz Fashions Ltd Auto Crop Care Ltd.
Kaniz Garments Ltd. Auto Equipment Ltd Abedin Garments Ltd. Krishi Banijya Protisthan Kazi Abedin Textiles Ltd Quazi Enterprises Limited |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
Group QA |
BANKING
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Bank Name |
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Commercial Bank of Ceylon |
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Bank Address |
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Corporate Branch , Hadi Mansion, 2, Dilkusha C/A, Dhaka-1000,
Bangladesh Tel: 88-02-7114125 |
ADVERSE
DATA MONITORING
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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 Head
Office which is situated at House# CWS (B) 74, Road# 25, Gulshan-1, Dhaka-1212,
Bangladesh. It is situated at Residential Area. |
GENERAL
COMMENTS
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SC is considered medium-sized in its line with fairly
stable financial conditions. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.52 |
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1 |
INR 90.60 |
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Euro |
1 |
INR 79.87 |
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BDT |
1 |
INR 0.81 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
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Report Prepared
by : |
SYL |
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.