MIRA INFORM REPORT

 

 

Report Date :

16.08.2007

 

IDENTIFICATION DETAILS

 

Name :

SPECTRUM OVERSEAS

 

 

Registered Office :

2,Zinda Bahar, 1st Lane, Dhaka-1100,

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

April, 2001

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Importing and selling of all types of textile chemicals

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

COMPANY NAME

 

Spectrum Overseas

 

 

Address                           

 

2,Zinda Bahar,

1st Lane,

Dhaka-1100                                                                                 

Bangladesh

Telephones : 880-2-7391219

Fax              : 880-2-7391219

E-mail          : NIL

                                                             

 

SUMMARY

 

Established                                                                   : April, 2001

 

Incorporation No.                                                            : N/A

 

Incorporation Dated                                                        : N/A

 

Status                                                                           : Satisfactory

 

Proprietor  & CEO                                                          : Mr.Mohammad Sabbir

 

Payment                                                                       : Regular

 

Litigation                                                                       : NIL

 

Capital Invested                                                             : Tk.7 million

 

Sales                                                                            : Tk.35 million

 

Employees                                                                    : 5                                                                                                                                                                     Executives-                             1                     

                                                                                      Sales Staffs-                            2

                                                                                      General Staffs-                         2

                                                                                     

 

BANK

 

Basic Bank Ltd

Local Office Branch,

Motijheel Commercial Area,

Dhaka

 

                                                                        

BRANCH

 

NIL

 

 

FACTORY

 

N/A

 

 

OFFICE AREA

 

350 sq.ft.(rented)

 

                       

FACTORY AREA

 

N/A

 

 

WAREHOUSE AREA

 

1,300 sq.ft (rented)

 

 

PROPRIETOR

 

Mr.Mohammad Sabbir

 

           

HISTORY

 

The subject was established in April, 2001 by Mr.Mohammad Sabbir in Dhaka city.

 

 

BUSINESS

 

The company is engaged in importing and selling of all types of textile chemicals.

 

 

ITEMS DEALING IN

                       

All types of textile Chemicals

                                                                                               

           

PRODUCTION POSITION

 

Yearly Production Capacity                     :  N/A

 

Last year Production                              :  N/A

 

 

IMPORTED FROM

 

China

Hong Kong

Taiwan

Pakistan

India

 

 

TERMS OF SALES

 

Cash

Credit

 

 

NAME OF GROUP

                                   

NIL

 

 

SISTER CONCERN

 

N/A

 

 

MEMBER

                              

Dhaka Chamber of Commerce & Industries,

Dhaka,

 

 

LEGAL FORM

 

The subject is a proprietorship company

 

 

FINANCIAL INFORMATION    

 

                                    2006                             2005                             2004

 

Capital Invested             Tk.7 million                    Tk.7 million                    Tk.7 million

 

Turnover                        Tk.35 million                  Tk.34.3 million               Tk.34.8 million

 

Liability                         Tk.1.2 million                 Tk.1.7 million                 Tk.2 million

 

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

           

 

CAPITAL STRUCTURE

 

Authorized Capital                      N/A

 

Paid up Capital                          N/A

 

Each share value                       N/A

 

 

EXCHANGE RATE

 

GB Pound                     1.00=Tk.140.1706

US Dollar                      1.00=Tk. 69.4850

Europe Euro                  1.00=Tk. 94.9041

Japanese Yen                1.00=Tk.  0.5712

Australian Dollar            1.00=Tk. 59.7270

 

 

COMMENTS

 

The subject is a proprietorship engaged as importing and selling of all types chemical. The company is well known in the local market.

 

The proprietor is well conversant in his line of trade. He is financially solvent and good at their business commitments, it is reported.

 

The company is good for normal business engagements.

 

 

                                   

         

 

 

 

 

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.

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

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