MIRA
INFORM REPORT
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Report Date : |
5th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
RELIANCE
TANNERY LIMITED |
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Registered Office : |
48/2/K,Moneshwar
Road, Hazaribagh, Dhaka, Bangladesh |
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Country : |
Bangladesh |
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Date of Incorporation : |
05.10.1987 |
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Com. Reg. No.: |
C-5128 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Engaged
in manufacturing and exporting of 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 |
Company Name
RELIANCE
TANNERY LIMITED
Address
48/2/K,Moneshwar
Road,
Hazaribagh,
Dhaka,
Bangladesh
Telephones : 880-2-8625119,8627425
Fax : 880-2-8612037
E-mail : reliancebd@dhaka.net
SUMMARY
Established :
October,1987
Incorporation
No. :
C-5128
Incorporation
Dated :
5th October,1987
Status :
Satisfactory
Managing
Director & CEO :
Mr.M.Shahjahan
Payment :
Regular
Litigation :
Nil
Capital
Invested :
Tk.60 million
Sales :
Tk.425 million
Employees :
98
Executives- 2
Junior Executives-
3 Leather Technologist-
5
Junior Tanner-
10
Engineer- 2
Quality Control-
6
Supervisory Staffs-
7
Support Staffs-
3
General Staffs-
10
Technicians-
6
Workers - 44
BANK
Dutch Bangla Bank Limited
Corporate Office branch, Branch,
Motijheel Commercial Area,
Dhaka
Janata Bank
Moulvi Bazar Branch,
Dhaka
Rupali Bank Limited
Foreign Exchange Branch,
Dilkusha Commercial Area,
Dhaka.
Sonali Bank
Head Office Branch,
Motijheel Commercial Area,
Dhaka.
FACTORY
48/2/K,Moneshwar Road,
Hazaribagh,
Dhaka,
BRANCH
NIL
OFFICE AREA
1,700 sq.ft.(own)
FACTORY AREA
38,500 sq.ft (own)
WAREHOUSE AREA
1,400 sq.ft.(own)
DIRECTORS & SHAREHOLDERS
Mr.M.Shahjahan
-Chairman & Managing Director
Mrs.Rashida Khatun
Mr.Yakub Ali Babu
HISTORY
The company was established by Mr.Shahjahan and other
directors in the year October,1987 in Dhaka city.
BUSINESS
The company is engaged in manufacturing and exporting of
finished leathers.
RANGE OF PRODUCTS
Ø
Pull
up Nuback & Burnished Leather Bush of Lining Leather
Ø Full Chrome, Semi-Chrome, full
Vegetable, Natural & Dyed
Ø Brush of Leather
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Soft
Shoe Upper
Ø
Glazed
Shoe Upper
Ø
Lining
Leather
PRODUCTION POSITION
Yearly production Capacity :
11 million sq.ft
Last year Production :
11 million sq.ft
SOURCES
Buffalo
Calf
Cow
Goat
PERCENTAGE OF EXPORT &
DOMESTIC SALE
Export----------82%
Domestic-------18%
EXPORT TO
Italy
Germany
Canada
Hong Kong
France
Singapore
China
Taiwan
Korea
TERM OF SALES
Against L/C
NAME OF GROUP
Jamuna Group
SISTER CONCERN
Kustia Tannery Limited,
MEMBER
Bangladesh Finished Leather
& Industries, Dhaka
Dhaka Chamber of Commerce & Industries, Dhaka,
LEGAL FORM
The subject is a private limited company incorporated with
the Registrar of Joint Stock of Companies Dhaka.
FINANCIAL INFORMATION
2005 2004 2003
Capital
Invested Tk.60 million Tk.60 million Tk.60
million
Turnover Tk.425
million Tk.424.8 million Tk.424.4
million
Liability Tk.18.5 million Tk.18.2 million Tk.18.8 million
Fixed Assets
Tk.750 Tk.750 Tk.749 million
CAPITAL STRUCTURE
Authorized Capital Tk.10
million
Paid up Capital Tk.2
million
Each share value Tk.100.00
each
EXCHANGE RATE
GB Pound 1.00=Tk.129.1870
US Dollar 1.00=Tk.
68.6654
Europe Euro .00=Tk. 87.0154
Japanese Yen 1.00=Tk. 0.5831
Australian Dollar 1.00=Tk. 52.3228
COMMENTS
Subject is a family owned medium private limited company
engaged in producing excellent quality leather the major part of which are
exported to various countries throughout the world. The subjects factory is
equipped with the most modern and sophisticated machines imported from Italy and other European
countries. The company is capable of supplying of specific types by customers
choice.
Mr.Shahjahan the managing director of the company is an
experienced businessman and knows his job well. His payment mode is regular and
financially solvent.
The company can be considered normal for business dealings
at usual trade terms and conditions.
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/normal. |
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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