MIRA INFORM REPORT

 

 

 

Report Date :

20.12.2008

 

IDENTIFICATION DETAILS

 

Name :

SHAHAJADI TRADERS

 

 

Registered Office :

45 S M Maleh Road, Tanbazar, Narayanganj

 

 

Country :

Bangladesh

 

 

Year of Establishment :

2007

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Importing of Yarns, Cotton and various types of Chemicals and Selling it 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 :

Usually Correct

 

 

Litigation :

Clear

 

 

COMPANY DETAILS

 

Name:                                                   Shahajadi Traders

 

Address:                                   45 S M Maleh Road

Tanbazar

Narayanganj

 

Country:                                    Bangladesh      

 

Tel. No. :                                   880-2-7116678

 

Fax No. :                                   880-2-716575

 

E-Mail:                                      NIL

 

Incorporation No. :                      N/A

           

Incorporation Date:                     N/A

 

Legal Structure:                         The subject is Proprietorship Concern

 

Business Type:                          Importer & Trader

 

Status:                                      Satisfactory

 

Payments:                                No complaints have been heard regarding payments 

                                                from local suppliers or banks.

 

Litigation:                                  NIL

 

 

LOCATIONS

 

Head Office:                              Sena Kalyan Bhaban (11th Floor),

                                                195, Motijheel Commercial Area,

                                                Dhaka-1000,

                                                Bangladesh.

 

Tel. No. :                                   880-2-7116678

 

Fax No. :                                   880-2-716575

 

E-Mail:                                      NIL

 

Branch:                                    45 S M Maleh Road

Tanbazar

Narayanganj

 

Factory:                                    N/A

 

 

PROPRIETOR

 

Name:                                       Mr.Al-Haj Abdus Salam

Designation:                             Proprietor

 

 

BUSINESS DETAILS

 

Line of Business:                       Importer

 

Items Dealing In:                        Cotton

 

Terms of Sale:                           1 Cash

                                                1 Credit

 

BANKERS

 

Name:                                       Dutch Bangla Bank Limited

Branch:                                     Tanbazaar Branch

 

Address:                                   Narayangonj

 

Name:                                       Exim Bank Limited

Branch:                                     Tanbazaar Branch

 

Address:                                   Narayangonj

                                   

The company performs most of the business transactions with the above mentioned bank. No more details were provided.

 

 

FINANCIAL INFORMATION

 

                                                            2007                     2006             2005

Capital Invested

 

Tk.10 million

 

Tk.15 million

 

Tk.15 million

 

Turnover

Tk.90 million

Tk.89 million

Tk.88.5 million

Liability

NIL

NIL

NIL

Fixed Assets

Tk.20 million

Tk.20 million

Tk.19.6 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

N/A

Paid Up Capital

:

N/A

Each Share Value

:

N/A

 

EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

Great Britain Pound

1

140.1706

             U.S Dollar

1

69.4850

             European Euro

1

94.9041

             Japanese Yen

1

0.5712

             Australian Dollar

1

59.7270

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:                     10

Executives--------------------1   

Junior Executives-----------3                                               

                                                General Staffs----------------6    

                                               

 

Office Area:                               800 sq.ft (rented)

 

Factory Area:                            N/A

 

Warehouse Area:                       2,200  sq.ft.(rented)

 

Items Dealing in:                        1 Cotton

                                                1 Yarn

                                                1 Chemicals

                                               

 

Imported from:*                          1 Kazakhstan

                                                1 Ukraine

                                                1 Turkey

                                                1 India

 

* The subject has refused to reveal the names.

 

Name of the Group:                    NIL

 

Subsidiaries:                             1 Multazim Spinning Mills Ltd

                                                1 Multazim Traders

                                               

Member                                    1 Dhaka Chamber of Commerce & Industries, Dhaka


 

COMMENTS

 

The subject is a proprietorship concern engaged in importing of yarns, cotton and various types of chemicals and selling it in the local market.

 

The proprietor is experienced in this line of trade. He is reported to be financially okay and fair in his trade terms.

 

The concern is good for normal business engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.08

UK Pound

1

Rs.71.17

Euro

1

Rs.66.98

 

 

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