MIRA
INFORM REPORT
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Report Date : |
11.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
TEXO BANGLADESH LIMITED |
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Registered Office : |
53, Kazi Nazrul Islam Avenue (3rd Floor), Kawran Bazar, Dhaka-1215 |
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Country : |
Bangladesh |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
August, 2006 |
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Com. Reg. No.: |
C-64515 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing, Supplying and Trading of Textile Machinery and Accessories. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Texo Bangladesh
Limited
Address: 53, Kazi Nazrul Islam Avenue (3rd Floor),
Kawran
Bazar,
Dhaka-1215,
Country: Bangladesh
Tel No : 880-2-8118125, 91157797, 8121316
Fax No : 880-2-9122530
E-Mail: geemce@bdonline.com
Established: August, 2006
Commercial
Operation From : March, 2007
Incorporation
No: C-64515
Incorporation
Date: 31st August
2006
Legal Structure: The subject is a
Private Limited Company that was
Incorporated in the Registrar of
Joint Stock of
Companies, Dhaka.
Business Type: Importer,
Suppliers and Trading
Status: Satisfactory
Payments: No complaints have
been heard regarding payments
from local
suppliers or banks.
Litigation: NIL
LOCATIONS
Head Office: 53,Kazi Nazrul Islam Avenue (3rd Floor),
Kawran
Bazar,
Dhaka-1215,
Tel No:
880-2-8118125,
91157797, 8121316
Fax No: 880-2-9122530
E-Mail: geemce@bdonline.com
Branch: NIL
Factory: N/A
Warehouse: N/A
DIRECTORS & SHAREHOLDERS
Name: Mr.Gulam Mortuza
Chowdhury
Designation: Chairman &
Managing Director
Name: Mr.Samiul Haque
Polash
Designation: Director
BUSINESS DETAILS
Line of Business:
Importer,
Suppliers and Trading
Items Dealing In: Textile Machinery
and Accessories
Terms of Sale: 1 Cash
1 Credit
BANKERS
Name: Standard Chartered
Bank
Branch: Kawran Bazar
Branch
Address: Kawran Bazar
Dhaka
Name: Islami Bank (BD)
Limited
Branch: Local Office
Branch,
Address: Motijheel
Commercial Area,
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 Invested |
Tk.10 million |
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Turnover |
New Company |
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Liability |
NIL |
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Fixed Assets |
Tk.12 million |
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CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.10 million |
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Paid Up Capital |
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Tk.100,000.00 |
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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: 11
Executives-----------------2
Junior Executives--------- 3
Field
Staffs----------------3
General
Staffs-------------3
Office Area: 900 sq.ft (rented)
Factory Area: N/A
Warehouse Area: N/A
Suppliers From: 1 China
1 Hong
Kong
1
Germany
1 India
Name of the Group: NIL
Subsidiaries: 1 Friends International,
Member: 1 Dhaka Chamber of Commerce & Industries, Dhaka
COMMENTS
The subject is a private limited company who is engaged in
importing, supplying and trading of Textile Machinery and accessories.
The directors are well conversant in their line of trade and
they are also experienced businessman.
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%)