MIRA INFORM REPORT

 

 

 

Report Date :

16.10.2008

 

IDENTIFICATION DETAILS

 

Name :

KLF AGRO EXTRACTS (BD) LIMITED

 

 

Registered Office :

Plot No. B 18 Basic Industrial Area, Kanchpur-1430 Sonargaon, Narayanganj

 

 

Country :

Bangladesh

 

 

Financials (as on) :

2006

 

 

Date of Incorporation :

January 2003

 

 

Com. Reg. No.:

C-48028

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturing and Selling of Coconut Oil to 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 :

No Complaints

 

 

Litigation :

Clear

 

COMPANY DETAILS

 

Name:                                                   KLF Agro Extracts (BD) Limited

 

Address:                                   Plot No.B 18 Basic Industrial Area,

                                                Kanchpur-1430

                                                Sonargaon,

Narayanganj

 

Country:                                    Bangladesh      

 

Tel No :                                     880-1819-219120

 

Fax No :                                    008803895788150,

 

E-Mail:                                      klbdsh@gmail.com

                                               

Established:                              January 2003

 

Incorporation No :                       C-48028

 

Incorporation Date:                     1st January 2003

 

Legal Structure:                         The subject is a Private Limited Company that was 

            Incorporated in the Registrar of Joint Stock of 

            Companies, Dhaka.

 

Business Type:                          Manufacturer & Sellers

 

Status:                                      Satisfactory

 

Payments:                                No complaints have been heard regarding payments 

                                                from local suppliers or banks.

 

Litigation:                                  NIL

 

 

LOCATIONS

 

Head Office:                  *           Colombo,

                                                Sri Lanka

 

* The subject has refused to reveal the complete address.                                               

           

Branch:                                    NIL

 

Factory:                                    Plot No.B 18 Basic Industrial Area,

                                                Kanchpur-1430

                                                Sonargaon,

Narayanganj

 

Warehouse:                               Plot No.B 18 Basic Industrial Area,

                                                Kanchpur-1430

                                                Sonargaon,

Narayanganj

 

 

DIRECTORS & SHAREHOLDERS

 

Name:                                       Mr.Marazi Lukman Jee

Designation:                             Chairman & Managing Director

 

Name:                                       Mr.M.Alex

Designation:                             Director

 

 

BUSINESS DETAILS

 

Line of Business:                       Manufacturer & Sellers

 

Items Dealing In:                        Coconut Oil

 

Terms of Sale:                           1 Cash

                                                1 Credit

 

 BANKERS    

 

Name:                                       Standard Chartered Bank

Branch:                                     Main 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

 

 

 

2006

 

2005

 

2004

 

Capital Investment

Tk.30 million

Tk.30 million

Tk.30 million

Turnover

Tk.320 million

Tk.318 million

Tk.217 million

Liability

Tk.8 million

Tk.9.3 million

Tk. million

Fixed Assets

Tk.45 million

Tk.45 million

Tk.45 million

 

 

                                               CAPITAL STRUCTURE

 

Authorized Capital

:

Tk.30 million

Paid Up Capital

:

Tk.100,000.00

Each Share Value

:

Tk.100.00

 

 

EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

Great Britain Pound

1

137.1626

U.S Dollar

1

 69.4000

European Euro

1

108.8231

Japanese Yen

1

   0.6729

Australian Dollar

1

 65.7102

 

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:         53

Executives------------------3   

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

Engineers-------------------3        

                                                Quality Control-----------10    

                                                Supervisory Staffs-------13  

                                              Support Staffs----------------2      

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

                                                Workers--------------------12  

 

Range of Products:                    1 Crude Oil

                                                1 Coconut Oil

                                               

Office Area:                               1,000 sq.ft (rented)

 

Factory Area:                            15,000 sq.ft (rented)

 

Warehouse Area:                       2,800  sq.ft.(rented)

                                               

Name of the Group:                    NIL

 

Subsidiaries:                             NIL                                          

 

 

Member                                    1 Dhaka Chamber of Commerce & Industries, Dhaka

                       


             

 

COMMENTS

 

The subject is a private limited company who is engaged in manufacturing and selling of Coconut oil to local market. The company’s factory is most modern and their products are of very high quality.

 

The directors are Sri Lankan citizens they 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.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.43

UK Pound

1

Rs.84.54

Euro

1

Rs.65.91

 

 

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