MIRA
INFORM REPORT
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Report Date : |
2ND
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
TUSUKA PROCESSING LIMITED |
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Registered Office : |
Konabari, Neelnagar, Gazipur, Bangladesh |
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Country : |
Bangladesh |
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Date of Incorporation : |
04.03.2002 |
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Com. Reg. No.: |
C-45462 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged as all types of ready-made garments washing plants. |
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
TUSUKA PROCESSING
LIMITED
Address
Konabari,
Neelnagar,
Gazipur,
Bangladesh.
Head Office
House No.50,
Road No.11,
Banani,
Dhaka
Telephones : 880-2-9297540,8826296
Fax : 880-2-8826297
E-mail : rupayan@tusuka.com, rahul@tusuka.com
SUMMARY
Established :
2002
Incorporation No. :
C-45462
Incorporation Dated :
4th March,2002
Status :
Satisfactory
Managing Director &
CEO :
Mr.Moshiur Zaman Chowdhury
Payment :
Regular
Litigation :
Nil
Proposed Capital
Investment :
Tk.60 million
Sales :
Tk.305 million
Employees :
1,102
Executives- 4
Junior Executive- 6
Engineers- 4
Quality Control- 20
Supervisory
Staffs- 25
Support Staffs- 10
General Staffs- 15
Technicians- 10
Workers- 1,008
BANK
Standard Chartered Bank
Banani Branch,
Dhaka.
Uttara Bank Limited
Motijheel Commercial
Area,
Dhaka.
One Bank Limited
Gulshan Branch,
Dhaka
FACTORY
Konabari,
Neelnagar,
Gazipur,
BRANCH
NIL
OFFICE AREA
1,600 sq.ft (own)
FACTORY AREA
36,500 sq.ft (own)
WAREHOUSE AREA
4,200 sq.ft. (own)
DIRECTORS & SHAREHOLDERS
Mr.Arshad Jamal
-Chairman
Mr.Moshiur Zaman
Chowdhury
-Managing Director
Mr.Rafayet Ullah Khan.
Mr.Rupen Royed
Mr.Jayanta Narayan
Chowdhury
HISTORY
The company was established
in March, 2002 by Mr.Moshiur Zaman Chowdhury and other directors in Dhaka.
BUSINESS
The company engaged as
all types of ready-made garments washing plants.
PRODUCTION POSITION
Yearly Washing Capacity : 18,00,000 dozens
Last year Washing
Capacity- :
15,00,000 dozens
MAJOR CLIENTS
Local Export Oriented
Ready-made Garments
Local Textile
Industries
NAME OF GROUP
Tusuka Group
SISTER CONCERN
Tusuka Fashion, Dhaka
Tusuka Jeans,Dhaka
Tusuka Trousers
Limited, Dhaka
Tusuka Teetjel Ltd
MEMBER
Bangladesh Garments
Manufacturer & Exporters Association, 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 Investment Tk.60
million Tk. 60 million Tk.60
million
Turnover Tk.305
million Tk.305.2 million Tk.305.7 million
Liability Tk.5.8 million Tk.5.2 million Tk.5.4 million
Fixed Assets
Tk.80 million Tk.80
million Tk.79 million
CAPITAL STRUCTURE
Authorized Capital Tk.100 million
Paid up Capital Tk.200,000.00
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 1.00=Tk.
87.0154
Japanese Yen 1.00=Tk. 0.5831
Australian Dollar 1.00=Tk.
52.3228
COMMENTS
Subject is a private
limited company engaged in all types of hundred percent export oriented ready-made
garment washing plants.
Mr.Moshiur Zaman
Chowdhury, managing director of the company is an experienced businessman of
good reputation. He is financially solvent and good at his business
commitments.
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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