MIRA
INFORM REPORT
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Report Date : |
29.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
RUMA LEATHER INDUSTRIES LIMITED |
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Registered Office : |
131, Hazaribagh, Dhaka-1209. |
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Country : |
Bangladesh |
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Date of Incorporation : |
27.12.1977 |
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Com. Reg. No.: |
C-5787 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Tanner and Exporter of Crashed Leather |
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 : |
No Complaints |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Ruma Leather
Industries Limited
Address: 131, Hazaribagh,
Dhaka-1209.
Country: Bangladesh
Tel. No. : 880-2-8812194, 9880777,
Fax No. : 880-2-9897774,
E-Mail: NIL
Established
: December,
1977
Commercial
Production From: January,
2007
Incorporation No.
: C-5787
Incorporation
Date: 27th December, 1977
Legal Structure: The subject is a
Private Limited Company that was
Incorporated in the Registrar of
Joint Stock of Companies, Dhaka.
Business Type: Tanner and
Exporter of Crashed Leather
Status: Satisfactory
Payments: No complaints have
been heard regarding payments
from local
suppliers or banks.
Litigation: NIL
LOCATIONS
Head Office: Fortune Bhaban
Kunia,
Gazipur,
Telephones: 880-2-9291381-3,
Fax : 880-2-9291500,
Branch: NIL
Factory: 131, Hazaribagh,
Dhaka-1209,
Warehouse: 131, Hazaribagh,
Dhaka-1209,
DIRECTORS & SHAREHOLDERS
Name: Engr.M.Abu taher
Designation: Chairman &
managing Director
Name: Mr.Faisal Ahmed
Designation: Director
BUSINESS DETAILS
Line of Business:
Tanner &
Exporter
Items Dealing In: Crushed Finished
Leather
Terms of Sale: 1 Against
L/C
BANKERS
ame: Dhaka Bank Limited
Branch: Main Branch,
Address: Motijheel
Commercial Area,
Dhaka
Name : Prime Bank Limited
Branch : Gulshan Branch,
Address : Dhaka
The company performs most of the business transactions with the above
mentioned bank. No more details were provided.
FINANCIAL INFORMATION
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2007 |
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Capital Investment |
Tk.53 million |
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Turnover |
Tk.85 million |
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Liability |
Tk.12 million |
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Fixed Assets |
Tk.80 million |
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CAPITAL STRUCTURE
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Authorized Capital |
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Tk.60 million |
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Paid Up Capital |
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Tk.200,000.00 |
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Each Share Value |
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Tk.100.00 |
EXCHANGE RATE
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CURRENCY |
UNIT |
BANGLADESHI TAKA |
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Great Britain Pound |
1 |
143.7238 |
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U.S Dollar |
1 |
69.4023 |
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European Euro |
1 |
101.3730 |
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Japanese Yen |
1 |
0.6176 |
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Australian Dollar |
1 |
63.2055 |
GENERAL INFORMATION
No. of Employees: 57
Executives-------------------2
Junior Executives--------- 3
Tanners----------------------4
Engineers- ------------------1
Quality
Control----------- --5
Supervisory
Staffs--------10
Support Staffs---------------3
General
Staffs-------------- 3
Technicians------------------2
Workers----------------------24
Office Area: 1,700 sq.ft (own)
Factory Area: 27,200 sq.ft (Own)
Warehouse Area: 3,500 sq.ft.(Own)
Range of Products: 1 Goat crust,
1 Goat finish,
1 Cow finish
Yearly Production : 3.8 million sq.ft
Sources: 1
Goats
1
Buffalo
1 Cows
Export
To: 1 North America,
1 South America,
1 Western Europe,
1 Eastern Europe,
1 Eastern Asia,
1 Southeast Asia,
1 Mid East,
1 Africa,
1 Oceania
Name of the Group: Fortune Group
Subsidiaries: 1 Fortune Real Estate Limited, Dhaka
1 Fortune Trading, Dhaka
1 Globe Textiles Mills Limited, Dhaka
1 Fortune Apparels Limited, Dhaka
Member 1 Dhaka Chamber of Commerce & Industries, Dhaka
1 Bangladesh Finished Leather &
Leather Goods
Exporter Association, Dhaka.
COMMENTS
The subject is a private limited company who is engaged
Tanning and exporting of Crashed Finished Leather. The quality of their leather
is of international standard and they have got good reputation among their
overseas clients. The subject was mainly established in the year 1977, but due
to some unknown reason the company could not go into production. The subject at
last started its production after 30 long years in 2007 and are now doing quite
good.
The directors are well conversant in their line of trade and
they are also experienced businessman. 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%)