MIRA INFORM REPORT
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Report Date : |
24.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRIME COMPOSITE MILLS LIMITED |
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Registered Office : |
Shena Kalyan Bhaban (8th Floor), 195 Motijheel C/A, Dhaka-1000 |
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Country : |
Bangladesh |
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Date of Incorporation : |
13.02.1994 |
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Com. Reg. No.: |
C-11626 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
manufacturing and selling
of cotton yarns |
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 |
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Maximum Credit Limit : |
US$ 26,000.00 |
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Status : |
Satisfactory |
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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 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
COMPANY DETAILS
|
Name |
Prime Composite
Mills Limited |
|
Address |
Shena Kalyan Bhaban (8th
Floor), 195 Motijheel C/A, Dhaka-1000 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9564851-2,
9564856, 9666434-5 |
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Fax No |
880-2-9564857 |
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E-Mail |
|
|
Website |
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Established |
1994 |
|
Company Registration No |
C-11626 |
|
Registration date |
13th
February 1994 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Register of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer
& Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
Shena Kalyan
Bhaban (8th Floor), 195 Motijheel C/A, Dhaka-1000 |
|
Telephone No |
880-2-9564851-2,
9564856, 9666434-5 |
|
Fax No |
880-2-9564857 |
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E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
Nandalal
Pur, Pagala, Narayanganj |
|
Warehouse |
Nandalal Pur,
Pagala, Narayanganj |
DIRECTORS
|
Name |
Mr.
Mohammad Abdul Awal |
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Designation |
Chairman &
Managing Director |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mrs. Fatema
Khatun |
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Designation |
Director |
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Nationality |
Bangladeshi |
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|
|
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Name |
Mr. Abdul Hafiz |
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Designation |
Director |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Abdul Karim |
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Designation |
Director |
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Nationality |
Bangladeshi |
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|
Name |
Mr. Abdul Halim |
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Designation |
Director |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer
& Seller |
|
Items Dealing In |
Yarns |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
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Terms of Sale |
Local: Cash or Credit |
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Production
Capacity |
8000m/ton per
year |
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Last Year
Production |
8000m/ton |
BANKERS
|
Name |
Janata Bank
Limited |
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Branch |
Corporate Branch |
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Address |
Dilkusha commercial Area, Dhaka-1000, Bangladesh |
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Swift |
N/A |
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|
|
|
Name |
Agrani Bank
Limited |
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Branch |
Local Office Branch |
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Address |
Motijheel commercial Area, Dhaka-1000, Bangladesh |
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Swift |
N/A |
FINANCIAL INFORMATION
|
Year |
2010 |
2009 |
2008 |
|
Investment |
Tk.36 million |
Tk.36 million |
Tk.34 million |
|
Turnover |
Tk.298.4 million |
Tk.298 million |
Tk.295 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.68 million |
Tk.68 million |
Tk.65 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.1500 million |
|
Paid Up Capital |
Tk.32.5 million |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
122.3721 |
|
U.S Dollar |
1 |
74.3000 |
|
European Euro |
1 |
106.7245 |
ADVERSE DATA MONITORING
|
Dishonored
Checks |
No Found |
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Debt |
No Records Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based On |
|
US$ 26,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
1,340 |
|
Office Area (Sq.
Ft) |
3,000 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
65,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
8,500 sq.ft.(rented) |
|
Range of
Products |
4 Cotton Yarns |
|
Major
Clients |
4 Local
Export Oriented Ready-Made Garment Industries |
|
Raw Cottons
From |
4 Kazakhstan 4 Uzbekistan 4 Ukraine |
|
Certifications |
NIL |
|
Group Name |
4 Prime Group |
|
Subsidiaries /
Affiliates |
4 Prime Textile Spinning
Mills Ltd 4 Prime Melange Yarn
Mills Ltd 4 Prime Super
Printing Mills Ltd |
|
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 cotton yarns in local market. The subject is a
concern of Prime Group, Bangladesh.
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.45.69 |
|
UK Pound |
1 |
Rs.75.29 |
|
Euro |
1 |
Rs.65.77 |
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 |
---- |
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.