MIRA INFORM REPORT

 

 

Report Date :

06.09.2007

 

IDENTIFICATION DETAILS

 

Name :

Mollah Jute Trading

 

 

Registered Office :

Dautlatpur, Khulna

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

June, 1988

 

 

Legal Form :

Proprietorship Company

 

 

Line of Business :

Engaged in exporting of raw jute to various overseas countries and wholesaling in the local market.

 

 

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 :

Regular

 

 

Litigation :

Clear

 

 

Report on

 

Mollah Jute Trading

 

 

Office         

 

Dautlatpur,

Khulna,

Bangladesh

Telephones        : 880-041-774304

Fax                   : 880-041-775101

E-mail               : NIL

 

 

SUMMARY

 

Established                               : June, 1988

Incorporation No.                        : N/A

Incorporation Dated                    : N/A

Proprietor & CEO                       : Mr. Sirajul Islam Mollah

 

 

Employees            

 

7                                                         

 

Executives-                1 

Junior Executives-     2                  

Sales Staffs-              2           

General Staffs-          2                   

 

 

BANK

 

Sonali Bank

Corporate Office Branch,

Khulna

                                                                          

 

BRANCH

 

NIL

                                                                       

 

FACTORY

 

N/A

 

 

OFFICE AREA

 

450 sq. ft. (rented)

 

 

FACTORY AREA

 

N/A

 

 

WAREHOUSE AREA

 

2,500 sq. ft (rented)

 

 

PROPRIETOR

 

Mr. Sirajul Islam Mollah                                                                                     

 

 

HISTORY

 

The subject was established in June, 1988 by Mr. Sirajul Islam Mollah in Khulna city.

 

 

BUSINESS

 

The company is engaged in exporting of raw jute to various overseas countries and wholesaling in the local market.

 

 

ITEMS DEALING IN

                                   

Raw Jutes

 

 

EXPORT TO

                       

China

Pakistan

Turkey

EEC Countries          

 

 

 

 

 

TERMS OF SALES

 

L/C

 

 

NAME OF GROUP

                                   

NIL

 

 

SISTER CONCERN

 

NIL

 

 

MEMBER

 

Khulna Chamber of Commerce & Industries, Khulna                                                                                             

 

 

LEGAL FORM

 

The subject is a proprietorship company

 

 

FINANCIAL INFORMATION    

 

                                    2006                             2005                             2004

 

Capital Invested             Tk.15 million                  Tk.15 million                  Tk.15 million

 

Turnover                        Tk.60 million                  Tk.59.7 million               Tk.59 million

 

Liability                         Tk.3.5 million                 Tk.3.6 million                 Tk.4 million

 

Fixed Assets                 Tk.8 million                    Tk.8 million                    Tk.8 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

 

The subject is a proprietorship company engaged as 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.

 

The proprietor is well conversant in this line of trade. He is financially solvent and good at his business commitments, it is reported.

 

The company is good for normal business engagements.

 

 

 

           

 

 

 

 

 

 

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.

 

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