MIRA INFORM REPORT

 

 

Report Date :

24.03.2007

 

IDENTIFICATION DETAILS

 

Name :

Akter & Co

 

 

Registered Office :

C-254,Khilgoan, Dhaka-1214

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

January, 1983

 

 

Legal Form :

Proprietorship Concern

 

 

Line of Business :

Engaged as Construction Contractor

 

 

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                             

 

Akter &  Co

 

 

Address

 

C-254,Khilgoan,

Dhaka-1214,

Bangladesh.

Telephones        : 880-2-9350548,7211101

Fax                   : 880-2-9350548

E-mail               : NIL

 

 

SUMMARY

 

Established                                                       : January,1983

Incorporation No.                                                : N/A

Incorporation Dated                                            : N/A

Proprietor & CEO                                               : Mr.Akhteruddin Khan

 

 

Employees

 

14

 

Executives-                   2

Junior Executives-         4

Engineers-                    4

General Staffs-             4

                                                                                                                                                  

 

BANK

 

United Commercial Bank Limited

Mouchak Branch,

Malibagh,

Dhaka,

                                                           

 

FACTORY

 

N/A

 

                                   

BRANCH

 

NIL

                                               

PROPRIETOR

 

Mr. Akteruddin Khan

                       

 

HISTORY

 

The subject was established in Dhaka city by Mr.Akteruddin Khan in the year January,1983.

 

                                                                       

BUSINESS

 

The concern is engaged as Construction Contractor.

 

 

ENLISTED WITH

 

Department of Road & Highways,

Government of Bangladesh, Dhaka

 

                                                                       

NAME OF GROUP

                                   

NIL

 

 

SISTER CONCERN

 

NIL

                                               

                                               

MEMBER

 

Dhaka Chamber of Commerce & Industries, Dhaka.

 

 

LEGAL FORM

 

The subject is Proprietorship Concern

 

 

FINANCIAL INFORMATION    

 

                                    2004                             2003                             2002    

           

Capital Invested             Tk.3 million                    Tk. 3 million                   Tk.3 million         

 

Turnover                        Tk.18 million                  Tk.17.5 million               Tk.17.2 million

             

Liability                          NIL                              NIL                              NIL                  

 

Fixed Assets                 Tk.5 million                    Tk.5 million                    Tk.4 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 as Construction Contractor and their enlisted with Department of Road & Highways, Government of Bangladesh. The concern is contemplating to diversify their business to import and trading.

 

Proprietor Mr.Akhter uddin Khan is an experienced businessman of good reputation and well acquainted in this line of trade.

 

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