MIRA INFORM
REPORT
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Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
ISRAQ ROTOR SPINNING MILLS LIMITED |
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Registered Office : |
House No.-15, Road No.-72, Gulshan-2, Dhaka-1212 |
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Country : |
Bangladesh |
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Date of Incorporation : |
18.06.2009 |
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Com. Reg. No.: |
C-88173 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
manufacturing and selling of rotor |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 25,000.00 |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Bangladesh |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
COMPANY DETAILS
|
Name |
Israq Rotor
Spinning Mills Limited |
|
Address |
House No.-15,
Road No.-72, Gulshan-2, Dhaka-1212 Note: The subject operates from this address. |
|
Country |
Bangladesh |
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Telephone No |
880-2-8817360,
8814570 |
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Fax No |
880-2-8817359 |
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E-Mail |
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|
Website |
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Established |
2009 |
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Company Registration No |
C-88173 |
|
Registration date |
18th
June 2009 |
|
Legal Status |
Private Limited |
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Issuing Authority |
The Register of Joint Stock Companies & Firms, Dhaka |
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Business Type |
Manufacturer & Seller |
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Status |
Satisfactory |
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Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
House No.-15,
Road No.-72, Gulshan-2, Dhaka-1212 |
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Telephone No |
880-2-8817360,
8814570 |
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Fax No |
880-2-8817359 |
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E-Mail |
sales@ahmed-group.com |
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Website |
www.ahmed-group.com |
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Branch |
NIL |
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Factory |
Madokhala,
Sreepur, Gazipur |
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Factory Telephone No |
NIL |
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Factory Fax No |
NIL |
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Warehouse |
Madokhala,
Sreepur, Gazipur |
DIRECTORS
|
Name |
Al-Hajj M.
Nasiruddin Ahmed |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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Name |
Al-Hajj M.
Fazlul Hoque |
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Designation |
Managing Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Al-Hajj M.
Nasiruddin Ahmed |
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Share Percent |
50% |
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Nationality |
Bangladeshi |
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|
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Name |
Al-Hajj M.
Fazlul Hoque |
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Share Percent |
50% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer & Seller |
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Items Dealing In |
Rotor |
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Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
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Terms of Sale |
Export: Against L/C |
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Production
Capacity |
7200000 Kgs per
year |
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Last Year
Production |
7200000 Kgs |
BANKERS
|
Name |
Janata Bank
Limited |
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Branch |
Principal Office
Branch |
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Address |
Motijheel C/A, Dhaka |
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SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2010 |
2009 |
2008 |
|
Investment |
Tk.32 million |
Tk.32 million |
N/A |
|
Turnover |
Tk.315 million |
One Year Not Completed |
N/A |
|
Liability |
Tk.3 million |
Tk.5 million |
N/A |
|
Assets |
Tk.50 million |
Tk.50 million |
N/A |
* The subject has flatly refused to reveal any financial
information. Whatever shown here are collected unofficially and as such its
authenticity could not be verified.
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.2 million |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
121.9920 |
|
U.S Dollar |
1 |
74.7500 |
|
European Euro |
1 |
107.4382 |
ADVERSE DATA MONITORING
|
Dishonored Checks |
No Found |
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Debt |
No Records Found |
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Litigation |
No Records Found |
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Performance
Defaults |
No Records Found |
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Adverse Press
Coverage |
No Records Found |
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Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED
CREDIT
|
Amount |
Based On |
|
US$ 25,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
500 |
|
Office Area (Sq.
Ft) |
1,600 sq.ft (rented) |
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Factory Area
(Sq. Ft) |
35,500 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
4,100 sq.ft.(rented) |
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Range of
Products |
4 Rotor |
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Major
Clients |
4 Local Export Oriented Composite Textile Mills |
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Certifications |
NIL |
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Group Name |
4 Ahmed Group |
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Subsidiaries /
Affiliates |
4 Israq Spinning Mills Limited 4 Lufa Fashions Limited 4 Sabit Sportswear Limited 4 Sajib Fashion Wears Limited |
|
Member |
4 Bangladesh Textile Mills
Association, Dhaka 4 Dhaka Chamber of Commerce &
Industries, Dhaka |
COMMENTS
The subject is a private limited company who is engaged in manufacturing
and selling of rotor. The subject is a concern of Ahmed Group.
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 commitment, it reported.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.27 |
|
UK Pound |
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.58 |
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 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.