MIRA
INFORM REPORT
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Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
EASTERN DIPLOMATIC SERVICES |
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Registered Office : |
Plot No sed (9),House No.22, Road No.140,Gulshan Avenue (south), Dhaka-1212 |
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Country : |
Bangladesh |
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Year of Establishment : |
1972 |
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Legal Form : |
Proprietorship Company |
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Line of Business : |
Import and retail of
duty free drinks, provisions, groceries and other consumer goods |
RATING &
COMMENTS
|
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 : |
No Complaints |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Eastern Diplomatic
Services
Address: Plot No sed (9),House No.22
Road
No.140,Gulshan Avenue (south)
Dhaka-1212
Country: Bangladesh
Tel No: 880-2-8822074, 8822230
Fax No: 880-2-8823466
E-Mail: eds@bangla.net
Established: 1972
Incorporation
No: N/A
Incorporation
Date: N/A
Legal Structure: The subject is
Proprietorship Company
Business Type: Duty free shop
Status: Satisfactory
Payments: No complaints have
been heard regarding payments
from local
suppliers or banks.
Litigation: NIL
LOCATIONS
Head Office: Plot No sed (9), House No.22
Road
No.140, Gulshan Avenue (south)
Dhaka-1212
Tel No: 880-2-8822074,
8822230
Fax No: 880-2-8823466
E-Mail: eds@bangla.net
Factory: N/A
PROPRIETOR
Name: Mr.Taufiq Uddin
Ahmed
Designation: Proprietor
BUSINESS DETAILS
Line of Business: Importer &
seller
Terms of Sale: 1 Cash
1 Credit
BANKERS
Name: Standard Chartered
Bank
Branch: Dilkusha Branch,
Address: Dilkusha
Commercial Area
Dhaka
The company performs most of the business transactions with the
above-mentioned bank. No more details were provided.
FINANCIAL INFORMATION
2007 2006 2005
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Capital Invested |
Tk.15 million |
Tk.15 million |
Tk.14.2 million |
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Turnover |
Tk.70 million |
Tk.70 million |
Tk.69.5 million |
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Liability |
Tk.2 million |
Tk.2.2 million |
Tk.3 million |
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Fixed Assets |
Tk.20 million |
Tk.20 million |
Tk.20 million |
CAPITAL STRUCTURE
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Authorized Capital |
: |
N/A |
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Paid Up Capital |
: |
N/A |
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Each Share Value |
: |
N/A |
EXCHANGE RATE
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CURRENCY |
UNIT |
BANGLADESHI TAKA |
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Great Britain Pound |
1 |
137.1626 |
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U.S Dollar |
1 |
69.4000 |
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European Euro |
1 |
108.8231 |
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Japanese Yen |
1 |
0.6729 |
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Australian Dollar |
1 |
65.7102 |
GENERAL INFORMATION
No. of Employees: 25
Executives----------------5
Sales Staffs- -------------7
General
Staffs-----------12
Office Area: 500 sq. ft (rented)
Shop Area: 2800 sq, ft. (rented)
Warehouse Area: 1250 sq. ft. (rented)
Items Dealing in: 1 Drinks
1
Provisions
1 Groceries
& other consumer goods.
Import From: 1 Australia
1 EEC countries
1
Singapore
1 Japan
1 USA
1 Canada
1 Malaysia
Name of the Group: NIL
Subsidiaries: NIL
Member 1 Dhaka Chamber of Commerce & Industries,
Dhaka
1 Bangladesh
Bonded Warehouse Association, Dhaka
COMMENTS
The subject is a custom bonded warehouse whose business is
to import and retail of duty free drinks, provisions, groceries and other consumer
goods for the local diplomats, UN officials working in Dhaka. They are licensed
by Board of Revenue, Government of Bangladesh and they supervise their
activities. The company gets good support from their bankers. They informed us
that they have submitted required papers/documents to the Registrar of Joint
Stock Companies to become limited company.
The proprietor is conversant in their line of trade and he
is also experienced businessman.
The company is good for normal business engagements.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
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%)