MIRA
INFORM REPORT
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Report Date : |
04.09.2007 |
IDENTIFICATION
DETAILS
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Name : |
Popular Jute Exchange Limited |
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Registered Office : |
28,Dilkusha Commercial Area, 8th Floor, West side,
Dhaka-1000 |
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Country : |
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Date of Incorporation : |
30th June, 1978 |
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Com. Reg. No.: |
C-6247 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in exporting of raw jute to various overseas countries
and wholesaling in the local market. |
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 : |
Usually correct |
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Litigation : |
Clear |
Report on
Popular
Jute Exchange Limited
Head Office
28,Dilkusha Commercial Area,
8th Floor, West side,
Dhaka-1000,
Telephones : 880-2-9559454, 9551853
Fax : 880-2-9550906,
E-mail :
popular@bdonline.com
SUMMARY
Established :
June, 1978
Incorporation
No. :
C-6247
Incorporation
Dated :
30th June, 1978
Managing
Director :
Al-Haj Giasuddin Ahmed
Employees
12
Executives- 1
Junior
Executives- 3
Support
Staffs- 4
General Staffs- 4
BANK
Pubali Bank
Limited
Local Office
Branch,
Dilkusha
Commercial Area,
Exim Bank
Limited
Local Office Branch
Dilkusha
Commercial Area,
SALES CENTRE
1,
District : Narayangonj,
FACTORY
N/A
OFFICE AREA
876 sq. ft.
(rented)
FACTORY AREA
N/A
WAREHOUSE AREA
2,225 sq. ft
(rented)
DIRECTORS &
SHAREHOLDERS
Al-Haj
Giasuddin Ahmed -Chairman & Managing Director
Mrs. Salma
Ahmed
HISTORY
Subject was established in June, 1978 by Al-Haj Giasuddin
Ahmed and the other director in
BUSINESS
The company is engaged in exporting of raw jute to various
overseas countries and wholesaling in the local market.
Raw Jutes
Jute Bags
Hessians
Jute Yarns
Carpet
Backing Cloth
EXPORT TO
U.S.A
TERMS OF SALES
L/C
CAD
NAME OF GROUP
Popular Group
SISTER CONCERN
Popular Jute Mills Limited,
Popular Trading,
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.20 million Tk.21 million Tk.21 million
Turnover Tk.374 million Tk.373.5 million Tk.373 million
Liability Tk.7 million Tk.8.6 million Tk.8 million
Fixed Assets Tk.18 million Tk.18 million Tk.18 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.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 engaged in the export
of raw jute and various jute goods. The
subject procures jute from the local jute mills and than export it. The company
is well reputed among the overseas jute buyers as genuine exporter.
Directors are well conversant in their line of trade. 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
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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%)