MIRA INFORM REPORT

 

 

Report Date :

29.06.2007

 

IDENTIFICATION DETAILS

 

Name :

Mir Pulp

 

 

Registered Office :

Mir Bhaban (1st Floor), 234,Khatungonj, Chittagong,

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

April,1964

 

 

Legal Form :

Proprietorship Concern

 

 

Line of Business :

Importing and Selling of all types of commodities

 

 

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

 

 

COMPANY NAME & ADDRESS

 

Mir Pulp

 

 

Address

 

Mir Bhaban (1st Floor),

234,Khatungonj,

Chittagong,

Bangladesh.

Telephones        : 880-31-632781, 635026

Fax                   : 880-31-610284

E-mail               : mirahmed@golbalctg.net

                                                                                                 

                                                                         

SUMMARY

 

 

Established                                                                               : April,1964

 

Incorporation No.                                                                        : N/A

 

Incorporation Dated                                                                    : N/A

 

Status                                                                                       : Satisfactory

 

Proprietor & CEO                                                                       : Mr.M.A.Salam

 

Payment                                                                                   : Regular

 

Litigation                                                                                   : Nil

 

Capital Invested                                                                         : Tk.50 million

 

Sales                                                                                        : Tk.380 million

 

Employees                                                                                : 10

                                                                                                 Executives-                  3

                                                                                                 Junior Executives-         2

                                                                                                 Sales Staffs-                 3

                                                                                                 General Staffs-              2

                                                                                                 

 

BANK

 

Bank Asia Limited

Khatunganj Branch,

Chittagong

 

Shahjalal Bank Limited

Khatunganj Branch,

Chittagong.

FACTORY

 

N/A

 

 

BRANCH

 

NIL

 

 

OFFICE AREA

 

500 sq.ft.(own)

 

                                   

FACTORY AREA

 

N/A

 

 

WAREHOUSE AREA

 

4,500 sq.ft (own)

 

 

PROPRIETIOR & CEO

                                                           

Mr.M.A.Salam

 

 

HISTORY

 

Subject was established in April,1964 by Mr.M.A.Salam in the main wholesale market area of Chittagong.

 

 

BUSINESS

 

The concern is engaged in importing and selling of all types of commodities.

 

 

ITEMS DEALING IN

                       

Rice

Wheat

Pulses

Chickpeas

Maize

IMPORTED FROM

 

China

Thailand

Australia

Pakistan

India

Australia

Vietnam

Canada

 

 

TERMS OF SALES

 

Cash

Credit

 

 

NAME OF GROUP

                                   

NIL

 

 

SISTER CONCERN

 

N/A

 

 

                                                                       

MEMBER

 

Chittagong Chamber of Commerce & Industries, Chittagong.

 

 

LEGAL FORM

 

The subject is a proprietorship concern

 

 

FINANCIAL INFORMATION

   

2006                             2005                             2004                

                       

Capital Invested             Tk.50 million                  Tk.50 million                  Tk.50 million     

 

Turnover                        Tk.380 million                Tk.379.2 million             Tk.379.7 million

                                   

Liability                         Tk.8.7 million                 Tk.8.8 million                 Tk.9.1 million

                                   

Fixed Assets                 Tk.100 million                Tk.100 million                Tk.100 million               

                       

 

CAPITAL STRUCTURE

 

Authorized Capital                      : N/A

 

Paid up Capital                          : N/A

 

Each share Value                      : N/A

 

EXCHANGE RATE

 

GB Pound                                 1.00=Tk.138.0118

US Dollar                                  1.00=Tk. 70.4700

Europe Euro                              1.00=Tk. 92.7535

Japanese Yen                            1.00=Tk.  0.5992

Australian Dollar                        1.00=Tk. 55.5718

 

 

COMMENTS

 

Subject is a proprietorship concern engaged in importing and selling of all types of commodities and their imported goods are sold all over the country. The concern is well reputed among the local trading circles.

 

Mr. M.A.Salam the proprietor of the concern is an experienced businessman of good reputation. He is financially solvent and good at his business commitments, as reported.

 

The concern 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