MIRA
INFORM REPORT
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Report Date : |
17.10.2007 |
IDENTIFICATION DETAILS
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Name : |
TUSUKA PROCESSING LIMITED |
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Registered Office : |
Konabari, Neelnagar, Gazipur |
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Country : |
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Date of Incorporation : |
4th March, 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 in washing of all types of ready-made garments. |
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
TUSUKA
PROCESSING LIMITED
Address
Konabari,
Neelnagar,
Gazipur,
Telephones : 880-2-8826926, 9297540
Fax : 880-2-8826927
E-mail : info@tusaka.com
rupayan@tusaka.com
SUMMARY
Established : March, 2002
Incorporation
No. : C-45462
Incorporation
Dated : 4th
march, 2002
Managing
Director & CEO : Mr. Moshiur
Zaman Choudhury
Employees
1,112
Executives- 4
Junior
Executive- 7
Engineers-
4
Quality
Control- 20
Supervisory
Staffs- 25
Support
Staffs- 12
General
Staffs- 16
Technicians- 10
Workers- 1,014
BANK
Uttara Bank
Limited
Head Office
Branch,
Motijheel
Commercial Area,
Eastern Bank
Limited
Banani
Branch,
Banani,
One Bank
Limited
Gulshan
Branch,
Gulshan,
HEAD OFFICE
House No. 50, Road No. 11,
Banani,
FACTORY
Konabari,
Neelnagar,
Gazipur,
OFFICE AREA
1,650 sq.
ft. (own)
FACTORY AREA
37,500 sq.
ft (own)
WAREHOUSE AREA
4,250 sq. ft
(own)
DIRECTORS &
SHAREHOLDERS
Mr. Arshad Jamal -Chairman
Mr. Moshiur Zaman Choudhury - Managing Director
Mr. Rafayetullah Khan
Mr. Jayanta Narayan Choudhury
Mr. Rupen Royed
HISTORY
Subject was established in March, 2002 by Mr. Moshiur Zaman
Choudhury and other directors in
BUSINESS
The company is engaged in washing of all types of ready-made garments.
MAJOR CLIENTS
Local Export Oriented Garments Industries
Local Textile Mills
NAME OF GROUP
Tusuka Group
GROUP COMPANIES
Tusuka Jeans
Limited,
Tusuka
Fashions Limited Limited,
Tusuka
Teetjel Limited,
Tusuka
Trousers Limited ,
MEMBER
Dhaka
Chamber of Commerce & Industries,
LEGAL FORM
Subject is a private limited company incorporated with the
Registrar of Joint Stock of Companies Dhaka.
FINANCIAL
INFORMATION
2006 2005 2004
Capital
Invested Tk.62 million Tk.60
million Tk.60 million
Turnover
Tk.308 million Tk.305 million Tk.305.2 million
Liability Tk.5 million Tk.5.8 million Tk.5.2 million
Fixed Assets
Tk.80 million Tk.80 million Tk.80 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.140.1706
US Dollar 1.00=Tk. 69.4850
Japanese
Yen 1.00=Tk. 0.5712
Australian
Dollar 1.00=Tk. 59.7270
COMMENTS
Subject is a private limited company in washing of all types
of ready-made garments. Subject is mainly engaged in washing the garments
products of their own factories. The company is a member of Tusuka Group, a
well known garments business house of the country.
Directors are well conversant in their line of trade and
they are also experienced businessman. They are financially solvent and good at
their business commitments, as reported.
The company 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%)