|
|
|
MIRA INFORM REPORT
|
Report No. : |
499369 |
|
Report Date : |
26.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
CITY SEED CRUSHING INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
City House, Plot# NW (J) 06, Road# 51, Gulshan-2, Dhaka-1212 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
30.06.2017 |
|
|
|
|
Date of Incorporation : |
06.02.2005 |
|
|
|
|
Com. Reg. No.: |
C-49330 |
|
|
|
|
Legal Form : |
Private Co |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Importer of Soybean Oil, Soybean Cake,
Full Fat Soya Meal |
|
|
|
|
No. of Employees : |
450 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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
|
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 |
IDENTIFICATION DETAILS
|
||
|
Correct company Name |
: |
CITY SEED CRUSHING INDUSTRIES LIMITED |
|
Head Office |
: |
City House, Plot# NW (J) 06, Road# 51, Gulshan-2, Dhaka-1212,
Bangladesh |
|
Tel No |
: |
88-02-9852356 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
corporate@citygroupbd.com,
grainmark@citygroup.com |
|
Website |
: |
www.citygroup.com.bd |
|
Date/ Year of Incorporation |
: |
06.02.2005 |
|
Incorporation No. |
: |
C-49330 |
|
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 |
FINANCIALS- SUMMARY
|
|||
|
Year |
Turnover/
Sales |
Assets |
Income |
|
30th
June’2016 |
BDT 13825.53 Million |
BDT 18263.75 Million |
BDT 256.90 Million |
|
30th
June’2017 |
BDT 13980.00 Million |
BDT 19052.25 Million |
BDT 261.38 Million |
FULLCHECK
REPORT DETAILS
|
||
|
Information Parted By |
||
|
Name |
: |
Mr. Sirajul Islam |
|
Designation |
: |
General Manager |
|
Contract No |
: |
88-01713046552 |
|
Locations Details |
||
|
Operating Address |
: |
City House, Plot# NW (J) 06, Road# 51, Gulshan-2, Dhaka-1212, Bangladesh |
|
Tel No |
: |
88-02-9852356 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
corporate@citygroupbd.com,
grainmark@citygroup.com |
|
Website |
: |
www.citygroup.com.bd |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
2000 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
|
|
Semi-commercial
office Bldg. |
Ö |
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential Bldg. |
|
|
|
|
|
|
Factory: |
|
|
|
Address |
: |
Uttar Rupshi, Rupgonj, Narayangonj,
Bangladesh |
|
Tel No |
: |
N/A |
|
Fax No |
: |
N/A |
|
Owned |
|
|
Rented |
|
|
Leased |
|
Area |
57.21 |
Decimals |
|
Register Address: |
||
|
Address |
: |
115/7-A, Distilary Road, Gandaria, Dhaka-1204,
Bangladesh |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Employee: |
|
||||||
|
|
|
||||||
|
No. of Employees |
In Office |
: |
50 |
In Factory |
: |
400 |
|
|
In Branch: |
: |
Nil |
Total |
: |
450 |
||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Ms. Shampa Rahman |
50000 |
|
Ms. Razia Sultana Deepa |
50000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Fazlur Rahman |
Managing Director |
|
Ms. Razia Sultana Deepa |
Director |
|
Ms. Shampa Rahman |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Fazlur Rahman |
|
Job Description |
: |
Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Sirajul Huq |
|
Job Description |
: |
General Manager
(Group) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mr. Khairul Islam |
|
Job Description |
: |
Officer (Commercial & Admin) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mr. Humayan Kabir |
|
Job Description |
: |
Officer (Accounts & Finance) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mr. Sirajul Islam |
|
Job Description |
: |
General Manager |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01713046552 |
BUSINESS
OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
Ö |
Services |
|
Others |
|
|
Range of
Products: |
||
|
|
||
|
Products |
: |
Soybean Oil, Soybean Cake, Full Fat Soya
Meal |
|
Production Capacity |
: |
1,000 MT per Day |
|
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 |
: |
N/A |
|
|||||
|
Overseas Suppliers |
: |
N/A |
|
|||||
|
Local Suppliers |
: |
N/A |
|
|||||
|
Trade Markets |
: |
Exports(Country) |
: |
N/A |
|
|||
|
Imports(Country) |
: |
India, China |
|
|||||
|
Brand Name |
: |
N/A |
||||||
|
Certified |
: |
N/A |
||||||
|
Name of Auditors |
: |
N/A |
||||||
|
Operation Status |
: |
Active |
||||||
CAPITAL
STRUCTURE
|
||
|
|
||
|
Authorized Capital |
: |
BDT 200 Million |
|
|
||
|
Paid-up Capital |
: |
BDT 100000000 |
|
|
||
|
No. of Shares |
: |
100000 |
|
|
||
|
Share Value |
: |
BDT 1000.00 Each |
|
|
||
|
Main Assets |
: |
BDT 19052.25 Million |
FINANCIAL
STATEMENT- DETAILED
|
|
Summary information has been given. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Name of
The Group |
: |
City Group of Industries |
|
Name of Mother Company |
: |
City Oil Mills Limited |
|
Sister Concerns |
: |
Grainmark Nahar Tea Estate City Rerolling Mills City Fibers Limited. City Navigation Ltd City Hair Oil Limited. C.S.I Power & Energy Hasan Flour Mills Ltd M. Hasan & Company. City Dal Mills Limited. City Feed Products Ltd. City Salt Industries Ltd. Internatinal Oil Mills Ltd Hasan Containers Limited. Shampa Oil Mills Limited. Rahman Oil Mills Limited City Pet Industries Limited C. S. I Power & Energy Ltd Rahman Synthetics Limited. City PET Industries Limited Hamida Plastic Industries Ltd Deepa Food Products Limited City Sugar Industries Limited VOTT Oil Refineries Limited. Hasan Vegetable Oil Mills Ltd Farzana Oil Refineries Limited. Rahman Coconul Mills Limited City Poultry and Fish Feeds Ltd Hasan Plastic Industries Limited. City Vegetable Oil Mills Limited. The Asia Pasific Refineries Limited Van Ommeren Tark Terminat Bangladesh Hasan Printing & Packaging Industries Limited |
|
|
|
|
BANKING
|
|
|
|
Bank Name
|
: |
Bank Asia Ltd. Prime Bank Ltd BRAC Bank Ltd. Eastern Bank Ltd Southeast Bank
Ltd Standard Bank
Limited Mutual Trust Bank
Limited Commercial Bank
of Ceylon Hong Kong Shanghai
Banking Corporation |
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 City House, Plot# NW (J) 06, Road# 51, Gulshan-2, Dhaka-1212, Bangladesh.
It is situated at Semi Commercial Area. |
GENERAL
COMMENTS
|
|
The subject company is a well-known reputed company in
Bangladesh. Their products popular to
the local customers. So day by day the subject companies increase their
goodwill. As well as its financial condition. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.13 |
|
|
1 |
INR 91.95 |
|
Euro |
1 |
INR 80.34 |
|
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 : |
TPT |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.