MIRA INFORM REPORT

 

 

Report Date :

29.06.2007

 

IDENTIFICATION DETAILS

 

Name :

Corbel Chemical Industries Limited

 

 

Registered Office :

Concord Tower (5th Floor), Flat No. 501, 113, Kazi Nazrul Islam Avenue, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

3rd January, 2000

 

 

Com. Reg. No.:

C-39405

 

 

Legal Form :

Private Company

 

 

Line of Business :

Engaged in importing and selling of pesticides.

 

 

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 :

Usually correct

 

 

Litigation :

Clear

 

 

Report on

 

Corbel Chemical Industries Limited

 

 

Address

 

Concord Tower (5th Floor),

Flat No.501,

113, Kazi Nazrul Islam Avenue,

Dhaka-1000,

Bangladesh.

Telephones        : 880-2-9360314, 9359740,                                 

Fax                   : 880-2-9332724,

E-mail               : corbel@accesstel.net

                                                                                     

 

SUMMARY

 

Established                               : January,2000

Incorporation No.                        : C-39405

Incorporation Dated                    : 3rd January,2000

Managing Director & CEO           : Mr. Murtuza Saiful Alam

 

 

Employees                 

 

10

 

Executives-                   2

Junior Executive-            1

Chemist-                       1

Sales Staffs-                  4

General Staffs-               2

                                   

                                   

BANK

 

Social Investment Bank Limited

15, Dilkusha Commercial Area,

Dhaka

 

                                                           

BRANCH

                                                                       

NIL                                                          

 

 

FACTORY

                                                                       

N/A

 

 

OFFICE AREA

 

750 sq. ft. (rented)

 

                                   

FACTORY AREA

 

N/A

 

 

WAREHOUSE AREA

 

1,300 sq. ft (rented)

 

 

DIRECTORS

 

Mr. Murtuza Saiful Alam -Chairman & Managing Director

Mrs. Saheli Saiful

Mr. Mahabub Alam

 

 

HISTORY

 

 

The subject is a established in January, 2000 by Mr. Murtuza Saiful Alam and other directors in Dhaka city .

                                               

 

BUSINESS

 

The company is a engaged in importing and selling of pesticides.

 

 

ITEMS DELING IN

                                                                       

Pesticides

                                                                                                       

 

IMPORT FROM

 

China

Italy

Germany

Australia

India

 

 

TERMS OF SALES

 

Cash

Credit

 

 

NAME OF GROUP

                                   

NIL

 

 

SISTER CONCERN

 

Corbel International Ltd, Dhaka

                                                                       

 

MEMBER

 

Dhaka Chamber of Commerce &  Industries, Dhaka.

 

 

LEGAL FORM

 

The subject is a private company incorporated with the Registrar of Joint Stock Companies, Dhaka.

 

 

FINANCIAL INFORMATION    

 

                                    2006                             2005                             2004    

                       

Capital Invested             Tk.9 million                    Tk.8 million                    Tk.8 million       

 

Turnover                        Tk.120 million                Tk.119.7 million             Tk.119.3 million

                                   

Liability                        NIL                               Nil                                NIL

                                   

Fixed Assets                 Tk.5 million                    Tk.5 million                    Tk.5 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital                      Tk.10 million

 

Paid up Capital                          Tk.100,000.00

 

Each share value                       Tk.100.00

 

 

EXCHANGE RATE

 

GB Pound                     1.00=Tk.130.9764

US Dollar                      1.00=Tk. 69.8000

Europe Euro                  1.00=Tk. 89.3847

Japanese Yen                1.00=Tk.  0.6098

Australian Dollar            1.00=Tk. 53.3891

 

 

COMMENTS

 

Subject is a family owned private limited company engaged in importing and selling of pesticides.

 

Directors are experienced and knows their job well. They are financially solvent and good at their business commitments, as reported.

 

The company can be considered normal for business dealings at usual trade terms and conditions.

           

 

 

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/normal.

 

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