MIRA INFORM REPORT

 

 

Report Date :

21.01.2008

 

IDENTIFICATION DETAILS

 

Name :

ALAM FIBERS

 

 

Registered Office :

Khan-A-Sabur Road, Daulatpur, Khulna

 

 

Country :

Bangladesh

 

 

Financials ( as on ) :

2006

 

 

Legal Form :

Proprietorship Company

 

 

Line of Business :

Exporter of Raw Jute

 

 

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 :

No Complaints

 

 

Litigation :

Clear

 

 

 

COMPANY DETAILS

 

Name:                                                  Alam Fibers

 

Address:                                   Khan-A-Sabur Road,

Daulatpur,

Khulna,

 

Country:                                   Bangladesh      

 

Tel. No. :                                  880-41-774904,

 

Fax No. :                                  880-41-774591,

 

E-Mail:                                     NIL

 

Incorporation No. :                   N/A

 

Incorporation Date:                  N/A

 

Legal Structure:                       The subject is Proprietorship Company

 

Business Type:                         Raw Jute Exporter

 

Status:                                     Satisfactory

 

Payments:                                No complaints have been heard regarding payments 

                                                from local suppliers or banks.

 

Litigation:                                NIL

 

 

LOCATIONS

 

Head Office:                             Khan-A-Sabur Road,

Daulatpur,

Khulna,

           

Tel. No. :                                 880-41-774904, 

 

Fax No. :                                 880-41-774591

 

E-Mail:                                    NIL

 

Branch:                                   NIL

 

Factory:                                   NIL

 

Factory Tel. No :                     NIL

 

Factory Fax No. :                    NIL

 

 

PROPRIETOR

 

Name:                                      Mr.M.Feroz Alam

 

Designation:                           Proprietor

 

 

BUSINESS DETAILS

 

Line of Business:                     Exporter

 

Items Dealing In:                                 Raw Jute

 

Terms of Sale:                         Against L/C

 

 

BANKERS

 

Name:                                      Rupali Bank Limited

Branch:                                    Daulatpur Branch,

 

Address:                                   Khulna

                                               

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

 

 

FINANCIAL INFORMATION

 

                                                            2006                     2005                         2004

Capital Invested

 

Tk.15 million

 

Tk.15 million

 

Tk.15 million

 

Turnover

Tk.125 million

Tk.123 million

Tk.122 million

Liability

Tk.2.8 million

Tk.3.5 million

Tk.4 million

Fixed Assets

Tk.20 million

Tk.20 million

Tk.18 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:                    25

Executives-------------------3   

Junior Executives----------4          

Field Staffs- -----------------4        

                                                Quality Control--------------8     

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

                                               

 

Office Area:                             1,300 sq.ft (rented)

 

Factory Area:                           N/A

 

Warehouse Area:                     3,200  sq.ft.(rented)

 

Items Dealing in:                     1 Raw Jutes

                                               

Export To:                                1 Brazil

                                                1 Indonesia

                                                1 Pakistan

                                                1 India

 

 

 

Name of the Group:                 NIL

 

Subsidiaries:                            1 Bithi Rnterprise,

                                               

 

Member                                   1 Khulna Chamber of Commerce & Industries, Khulna

                                                1 Bangladesh Jute Exporter Association, Dhaka 

 

 

COMMENTS

 

The subject is a proprietorship concern engaged in exporting of raw jute to overseas countries.

 

The proprietor is conversant in their line of trade and he is also experienced businessman. He is financially solvent and good at his business commitments, it is reported.

 

The concern 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