MIRA
INFORM REPORT
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Report Date : |
19.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
Skysealand Shipping Lines |
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Registered Office : |
Six Star Building, 413/B, Agrabad Commercial Area, Chittagong |
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Country : |
Bangladesh |
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Date of Incorporation : |
1999 |
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Legal Form : |
Proprietorship Concern |
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Line of Business : |
Engaged as international shipping, freight forwarding agents,
exporter, crew manning and custom brokers. |
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 |
Report on
Skysealand Shipping Lines
Address
Six Star
Building
413/B,
Agrabad Commercial Area,
Chittagong,
Bangladesh.
Telephones : 880-31-815036
Fax : 880-813955
E-mail :
sales-ssl@skysealandshipping.com
info@skysealandshipping.com
SUMMARY
Established : 1999
Incorporation
No. : N/A
Incorporation
Dated : N/A
Proprietor
& CEO : Mr.
Mohammad Rezaul Karim
Employees
15
Executives- 2
Junior
Executives- 2
Field
Staffs- 3
Sales
Staffs- 2
General
Staffs- 6
BANK
Southeast
Bank Limited
Agrabad
Branch,
Chittagong
Social
Investment Bank Limited
Agrabad
Branch,
Chittagong
FACTORY
N/A
BRANCH
60/39E,
Dhalpur,
Demra,
Dhaka,
Benapole Bazar,
Benapole,
Jessore,
OFFICE AREA
1,400 sq.
ft. (rented)
FACTORY AREA
N/A
WAREHOUSE AREA
2,800 sq.
ft. (rented)
PROPRIETOR
Mr. Mohammad Rezaul Karim
HISTORY
Subject was established in January, 1999 by Mr.Mohammad
Rezaul Karim in Chittagong city.
BUSINESS
The concern is engaged as international shipping, freight
forwarding agents, exporter, crew manning and custom brokers.
RANGE OF SERVICES
Container Liner Agency
Break Bulk Liner Agency
Ship Chartering
SOC & COC Operator
Ship Supplies
Container Leasing
Sea Freight
Air Freight
Consol LCL Cargo
Project Cargo
Road Freight
Door to Door Collection & Delivery
NVOCC
Crew Supply & Crew Change
PRODUCTION POSITION
Production Capacity-----N/A
Last year Production----N/A
PRINCIPAL
KARR, ELLIS & COMPANY INC---USA
NAME OF GROUP
SSL Group
NAME OF THE SISTER CONCERNS
BD Tower House, Chittagong
United Commerce, Chittagong
Marine mart Inc, Chittagong
MEMBER
Chittagong Chamber of Commerce & Industries, Chittagong.
LEGAL FORM
Subject is a proprietorship concern
FINANCIAL INFORMATION
Capital Invested Tk.4
million Tk.4 million Tk.4 million
Turnover Tk.130
million Tk.128 million Tk.127.2 million
Liability NIL NIL NIL
Fixed Assets Tk.10
million Tk.10 million Tk.10 million
CAPITAL STRUCTURE
Authorized Capital N/A
Paid Up Capital N/A
Each Share value N/A
EXCHANGE
RATE
GB
Pound 1.00=Tk.140.1706
US Dollar 1.00=Tk. 69.4850
Europe
Euro 1.00=Tk. 94.9041
Japanese
Yen 1.00=Tk. 0.5712
Australian
Dollar 1.00=Tk. 59.7270
COMMENTS
Subject is a proprietorship concern engaged in all types of
freight forwarding including air land and sea. The concern is also engaged in
transportation services. Additional to that they also offer customs brokerage
services.
Proprietor is well conversant in the line of the trade and a
well backed by his bankers. He is also an experienced businessman.
The concern is good for normal business engagements.
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. |
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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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%)