MIRA INFORM REPORT

 

 

Report Date :

10.12.2007

 

IDENTIFICATION DETAILS

 

Name :

M. A. Wahab & Sons

 

 

Registered Office :

M. K. Press, Daulatpur, Khulna

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

August, 1982

 

 

Legal Form :

Proprietorship Concern

 

 

Line of Business :

Engaged exporting raw jute and jute goods to various overseas countries.

 

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


Report on  

 

M. A. Wahab & Sons

 

            

Address

 

M. K. Press,

Daulatpur,

Khulna,

Bangladesh.

Telephones        : 880-41-774380

Fax                   : 880-41-774011

E-mail               : salimreza57@yahoo.com

                       

                                                           

SUMMARY

 

Established                                           : August, 1982

Incorporation No.                                    : N/A

Incorporation Dated                                : N/A

Proprietor & CEO                                   : Mr. Salim Reza

 

 

Employees            

 

30

 

Executives-                    3

Junior Executives-         4

Field Staffs-                 10

Sales Staffs-                 8

General Staff-               5

 

                                                  

BANK REFERENCES

 

EXIM Bank Limited

Local Office Branch,

Motijheel Commercial Area,

Dhaka

 

 

FACTORY

 

N/A

 

 

BRANCH

 

Elite House (3rd Floor),

54,Motijheel Commercial Area,

Dhaka-1000,

Tel. 880-2-9552288, 9551515

 

 

OFFICE AREA

 

1,000 sq. ft. (rented)

 

 

FACTORY AREA

 

N/A

 

 

WAREHOUSE AREA

 

12,500 sq. ft (rented)

 

 

PROPRIETOR

 

Mr. Salim Reza

 

 

HISTORY

 

Subject was established in August, 1982 by Mr. Salim Reza in Khulna city.

 

 

BUSINESS

 

The concern is engaged exporting raw jute and jute goods to various overseas countries.

 

 

ITEMS DEALING IN

           

Raw Jutes

 

                                                                                               

TERM OF SALES

 

Against L/C

           

EXPORT TO

 

Pakistan

Brazil

Indonesia

Vietnam

China

South Korea

 

 

NAME OF GROUP

                       

NIL

 

 

SISTER CONCERN

 

Nishorang Jute Mills Ltd,

Aduaha Cold Storage Limited,

 

                                                                         

LEGAL FORM

 

The subject is a proprietorship concern

 

 

FINANCIAL INFORMATION   

 

2006                             2005                             2004

 

Capital Invested             Tk.25 million                  Tk.25 million                  Tk.25 million     

 

Turnover                        Tk.270 million                Tk.268.5 million             Tk.267 million   

           

Liability                         Tk.6 million                    Tk.6 million                    Tk.7.2 million

 

Fixed Assets                 Tk.15 million                  Tk.15 million                  Tk.15 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 exporting of raw jute and various jute goods. The concern is well among the overseas jute buyers as genuine exporter.

                                   

Mr. Salim Reza is well acquainted in his line of trade. He is financially solvent and good at his business commitments, as reported.

 

The concern 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