MIRA
INFORM REPORT
|
Report Date : |
30.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEGHNA RUBBER INDUSTRIES LIMITED |
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Registered Office : |
Gorai, Momin Nagarmirzapur, Tangail |
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Country : |
Bangladesh |
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Date of Incorporation : |
07.06.1998 |
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Com. Reg. No.: |
C-35875 |
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Legal Form : |
Private
Limited |
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Line of Business : |
Manufacturer,
Seller & Exporter of Tire & Tube |
RATING & COMMENTS
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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$ 25,000.00 |
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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 |
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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 |
Meghna Rubber
Industries Limited |
|
Address |
Gorai, Momin
Nagarmirzapur, Tangail |
|
Country |
Bangladesh |
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Telephone No |
880-2-881 7611 |
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Fax No |
880-2-881 7674 |
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E-Mail |
|
|
Website |
www.meghnabangladesh.com |
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Established |
1998 |
|
Company Registration No |
C-35875 |
|
Registration date |
7th June 1998 |
|
Legal Status |
Private Limited |
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Business Type |
Manufacturing, Exporting & Selling |
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Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
187-188/B
Tejgaon I/A, Gulshan Link Road, Dhaka-1208 |
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Telephone No |
880-2-881 7611 |
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Fax No |
880-2-881 7674 |
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E-Mail |
|
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Website |
www.meghnabangladesh.com |
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Branch |
NIL |
|
Factory |
Gorai, Momin
Nagarmirzapur, Tangail |
|
Factory Telephone No |
N/A |
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Factory Fax No |
N/A |
|
Warehouse |
Gorai, Momin
Nagarmirzapur, Tangail |
DIRECTORS
|
Name |
Mr. Razia Rahman |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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|
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Name |
Mr. Mizanur
Rahman Bhuiyan |
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Designation |
Director |
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Nationality |
Bangladeshi |
|
Name |
Mr. Razia Rahman |
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Share Percentage |
50% |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Mizanur
Rahman Bhuiyan |
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Share Percentage |
50% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer, Seller & Exporter |
|
Items Dealing In |
Tire & Tube |
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Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
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Terms of Sale |
Local: Cash or Credit Export: Against L/C |
BANKERS
|
Name |
Mutual Trust Bank Ltd |
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Branch |
Tejgaon Branch |
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Address |
Tejgaon, Dhaka |
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SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2010 |
2009 |
2008 |
|
Investment |
Tk.20 million |
Tk.18 million |
Tk.18 million |
|
Turnover |
Tk.160 million |
Tk.158.6 million |
Tk.158 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.28 million |
Tk.25 million |
Tk.25 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.200, 000.00 |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
120.9711 |
|
U.S Dollar |
1 |
73.8800 |
|
European Euro |
1 |
107.1260 |
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 |
|
Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based On |
|
US$ 25,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
320 |
|
Office Area (Sq.
Ft) |
1,800 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
32,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
5,500 sq.ft.(rented) |
|
Range of
Products |
4 Tires 4 Tube |
|
Export Market |
4 China 4 Europe 4 Taiwan |
|
Certifications |
NIL |
|
Group Name |
4 Meghna Group of
Industries |
|
Subsidiaries /
Affiliates |
4 Transworld Bicycle
Co. Ltd 4 Meghna
Components Ltd 4 Uniglory Steel
Products Ltd 4 Meghna Wheels
Ltd 4 Meghna Innova
Rubber Co. Ltd 4 Meghna
Bangladesh Ltd 4 Uniglory Cycle
Components Ltd 4 Concept Cycling |
|
Member |
4 Dhaka Chamber
of Commerce & Industries , Dhaka |
COMMENTS
The subject is private limited company is engage as
manufacturer, seller and exporter of tires & tubes for bicycle. The subject
is a concern of Meghna Group of Industries.
The directors are all very experienced people in this line of
trade. They are reported to be fair in their trade terms and well reputed in
the trading circle. The all directors were appointed by government.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.87 |
|
|
1 |
Rs.75.14 |
|
Euro |
1 |
Rs.66.68 |
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 |
|
-- |
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.