MIRA
INFORM REPORT
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Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
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Name : |
HRC Syndicate Limited |
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Registered Office : |
HRC Bhaban (2nd
Floor), 64/66, Agrabad Commercial Area, |
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Country : |
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Date of Incorporation : |
1st January, 1991 |
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Com. Reg. No.: |
CH-815 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Engaged in exporting
of tea goods. |
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
HRC Syndicate Limited
Address
HRC Bhaban (2nd Floor),
64/66, Agrabad Commercial Area,
Telephones :
880-31-711281-4, 710320-4
Fax :
880-31-710625, 711264
E-mail : hrc@hrcbd.com
SUMMARY
Established :
January, 1991
Incorporation No. :
CH-815
Incorporation Dated :
1st January, 1991
Managing Director & CEO :
Mr. Sayeed Hossain Chowdhury
Employees
40
Executives-
3
Junior Executives-
4
Sales Staffs- 10
Support Staffs-
8
General
Staffs- 15
BANK
The Commercial Bank of Seylon Ltd
Motijheel Commercial Area,
Dhaka-1000,
Prime Bank Limited
Adamjhee Court Branch,
Motijheel commercial Area,
Dhaka-1000,
Southeast Bank Limited,
Dilkusha Commercial Area,
Dhaka-1000,
BRANCH
HRC Bhaban
Karwan Bazaar Commercial Area,
Dhaka-1215,
Tel: 880-2-9115183-4, 9133418-20, 8126173-6
Fax: 880-2-8110993, 9128991
E-mail: hrc@hrcbd.com
FACTORY
N/A
OFFICE AREA
2,600 sq. ft. (own)
FACTORY AREA
N/A
WAREHOUSE AREA
52,500 sq. ft (own)
DIRECTORS &
SHAREHOLDERS
Mr. Sayeed Hossain Chowdhury - Chairman & managing Director
Mrs. Farzana Chowdhury
HISTORY
The subject was established in
January, 1991 by Mr.Sayeed Hossain Chowdhury and the other director in
BUSINESS
The company is engaged in exporting
of tea goods to various overseas countries.
EXPORT TO
Rusia
Polland
UAE
TERMS OF SALES
Against L/C
NAME OF GROUP
HRC Group
SISTER CONCERN
Bangladesh Shipping Lines Limited,
Baridhi Shipping Lines Limited,
HRC Properties Limited,
Travel Wise Limited,
HRC Shipping Limited,
Hamid Properties Limited,
Arkan Express Limited,
Bangladesh Lands Limited
HRC Products Limited
HRC Lighting Limited,
HRC Freight Limited,
HRC Beverage Limited,
HRC Agrocom Limited
MEMBER
LEGAL FORM
The subject is a private limited
company incorporated with the Registrar of Joint Stock of Companies Chittagong.
FINANCIAL
INFORMATION
2006 2005 2004
Capital Invested Tk.150
million Tk.150 million Tk.150 million
Turnover Tk.450
million Tk.449 million Tk.448 million
Liability Tk.25
million Tk.24.5 million Tk. 24.2 million
Fixed Assets Tk.200
million Tk.200 million Tk.200 million
CAPITAL STRUCTURE
Authorized Capital Tk.200
million
Paid up Capital Tk.700,
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
The subject is a private limited
company engaged in the exporting of tea goods. The subject procures their tea
from the local tea gardens and than export it. The company is well reputed
among the overseas tea buyers as genuine exporter. They are one of the biggest
exporters of the country and have an excellent reputation even in the domestic
market.
The directors are well conversant
in their line of trade. They are financially solvent and good at their business
commitments, it is 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%)