MIRA INFORM REPORT

Report Date :

26^th May 2006

IDENTIFICATION DETAILS

Name :	ARDENT LIMITED

Registered Office :	House # 11 (2nd Floor), Road # 7, Dhanmondi R/A, Dhaka-1205, Bangladesh.

Country :	Bangladesh

Financials (as on) :	2004

Date of Incorporation :	05-07-2001

Legal Form :	Private limited company

Line of Business :	Engaged as representative of Foreign Manufacturers

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Name

Ardent Limited

Factory & Office Address

House # 11 (2nd Floor), Road # 7,
Dhanmondi R/A,
Dhaka-1205,
Bangladesh.

Telephone No.: 880-2-9677330-2, 9672611-2

Fax No.: 880-2-9672613

E-Mail   : medital@bdmail.net / gazi@bdmail.net

SUMMARY

Established:                  : 2001

Incorporation No.           : C-43508

Incorporation Dated       : 05-07-2001

Status                           : Satisfactory

Managing Director         : Mr.Gazi Abdur Rahman

Payment                       : Regular

Litigation                       : Nil

Capital Invested             : Tk.10.5 million

Turnover                        : Tk.111 million

Employees                    : 31
Executives-       5
Engineers-         3
Jr.Engineers-     7
Technicians -     3
Sales Staffs -     8
General Staffs - 5

BANK

Prime Bank Limited,
Satmosjid Road Branch,
Dhanmondi,
Dhaka

Mutual Trust Bank Limited,
Panthapath Branch,
Panthapath,
Dhaka

FACTORY

N/A

SHAREHOLDER & DIRECTORS

Mr.Anwarul Hoque----------- Chairman
Mr.Gazi Abdur Rahman--- Managing Director
Mr.Nahid Akhter
Mr.Showkat Ali

HISTORY

The subject was established by Mr.Gazi Abdur Rahman in the year 2001 in Dhaka city.

BUSINESS

The company is engaged as representative of Foreign Manufacturers.

RANGE OF PRODUCTS

(1) CT scan
(2) MRI
(3) X-Ray
(4) ECG

(5) Ultra Sonogram
(6) Ctah Lab
(7) Surgical Equipments

FOREIGN PRINCIPAL

(1) G.E - USA

MAJOR CLIENTS

(1) Local Hospitals
(2) Local Diagnostics labs
(3) Medical Colleges & Schools

PRODUCTION POSITION

Production Capacity     :       N/A
Last year production    :       N/A

NAME OF THE GROUP

NIL

SISTER CONCERN

NIL

MEMBER

Dhaka Chamber of Commerce & Industry, Dhaka

LEGAL FORM

It is a private limited company incorporated with the registrar of Joint Stock of Companies Dhaka

FINANCIAL INFORMATION

                                                            2004                             2003                             2002

Capital Invested                         Tk. 10.5 million              Tk. 10.2 million             Tk. 9.8 million

Turnover                                                Tk.111 million                Tk.110.6 million            Tk.110.3 million

Liability                                     Tk.5 million                    Tk.5 million                  Tk.4.7million

Fixed Assets                             Tk.10 million                  Tk.10 million                 Tk.9.6 million

CAPITAL STRUCTURE

Authorized Capital Tk.30.00 million
Paid up Capital Tk.300,000.00
Each share value Tk.100.00 each

EXCHANGE RATE

GB Pound                     1.00=Tk.116.6307
US Dollar                       1.00=Tk.63.3440
Europe Euro                  1.00=Tk.79.8476
Japanese Yenn              1.00=Tk. 0.5959

COMMENTS

TThe subject is a private limited company engaged as representative of foreign manufacturers of medical equipments.The subject represents world famous brand G.E and is doing a very good business.It has some of the major diagnostic labs and hospitals as its regular clients.

Mr. Mr.Gazi Abdur Rahman the managing director of the company is an experienced businessman in this line of trade.He is well reputed in the local trade circle and is well known.He gets good support from his bankers.he is financially solvent and his payment mode is regular, it is reported.

The company is ok for normal business engagements under usual trade terms

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

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