MIRA
INFORM REPORT
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Report Date : |
05.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
Al Madina Tannery |
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Registered Office : |
55/2, Hazaribagh, Dhaka - 1209 |
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Country : |
Bangladesh |
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Date of Incorporation : |
October, 1995 |
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Legal Form : |
Proprietorship Concern |
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Line of Business : |
Engaged as manufacturer and exporters of Cow Crust finished leathers. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Report on
Al Madina Tannery
Address
55/2, Hazaribagh
Dhaka-1209
Bangladesh.
Telephones : 880-2-8611579
Cell : 880-1714-038898
Fax : 880-2-9666980
E-mail : almadina.tannery@gmail.com
SUMMARY
Established : October, 1995
Incorporation No. : N/A
Incorporation Dated : N/A
Proprietor & CEO : Haji Noor Mohammad Chowdhury
Employees
35
Executives- 2
Junior Executives- 4
Tanners- 8
Supervisory Staffs- 3
General Staff- 4
Workers- 14
BANK REFERENCES
Janata Bank
Local Office Branch,
Motijheel Commercial Area,
Dhaka
FACTORY
55/2, Hazaribagh
Dhaka
BRANCH
NIL
OFFICE AREA
1,200 sq. ft. (rented)
FACTORY AREA
17,000 sq. ft (rented)
WAREHOUSE AREA
3,300 sq. ft (rented)
PROPRIETOR
Haji Noor Mohammad Chowdhury
HISTORY
Subject was established in October, 1995 by Haji Noor Mohammad Chowdhury in Dhaka city.
BUSINESS
The company is engaged as manufacturer and exporters of Cow Crust finished leathers.
RANGE OF PRODUCTS
Cow Crust Finished Leathers
PRODUCTION POSITION
Yearly Production-----3.6 million sq. ft
Last Year Production-3.4 million sq. ft
TERM OF SALES
Against L/C
CHEMICALS IMPORTED FROM
China
Taiwan
Hong Kong
Italy
EXPORTED TO
Italy
China
Korea
USA
UK
NAME OF GROUP
NIL
SISTER CONCERN
Al Madina Leathers,
LEGAL FORM
Subject is a proprietorship concern
FINANCIAL INFORMATION
2006 2005 2004
Capital Invested Tk.15 million Tk.15 million Tk.15 million
Turnover Tk.180 million Tk.179.2 million Tk.178.5 million
Liability Tk.4 million Tk.4.7 million Tk.5.5 million
Fixed Assets Tk.22 million Tk.22 million Tk.22 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
Subject is a proprietorship concern engaged in manufacturing and exporting of Cow Crust finished leathers to overseas countries. Qualities of their products are good and they are doing business with good reputation for the last 12 years.
Haji Noor Mohammad Chowdhury is well acquainted in his line of trade. He is financially solvent and good at his business commitments, as reported.
The company is good for normal business engagements.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)