MIRA INFORM REPORT

 

 

Report Date :

24.02.2011

 

IDENTIFICATION DETAILS

 

Name :

DEUNDI TEA CO., LTD

 

 

Registered Office :

1318 SK Mujib Road, Agrabad Commercial Area, Chittagong

 

 

Country :

Bangladesh

 

 

Year of Establishment :

1930

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Plantations Management and Production, Warehousing and Export.

 

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

 

Maximum Credit Limit :

US$ 40,000.00

 

 

Status :

Good

 

 

Payment Behaviour :

No complaints

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY DETAILS

 

Name

Deundi Tea Co., Ltd

Address

1318 SK Mujib Road, Agrabad Commercial Area, Chittagong

Country

Bangladesh

Telephone No

880-31-711527, 718394,

Fax No

880-31-710507

E-Mail

rkarim.deundi@iolbd.net

Website

NIL

Established

1930

Company Registration No

Incorporated in England

Registration date

N/A

Legal Status

Private Limited

Issuing Authority

N/A

Business Type

Plantations Management and Production, Warehousing and Export

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

1318 SK Mujib Road, Agrabad Commercial Area, Chittagong

Telephone No

880-31-711527, 718394,

Fax No

880-31-710507

E-Mail

rkarim.deundi@iolbd.net

Website

NIL

Administration Office

P.O. Chandpore Bagan, District: Habiganj, Bangladesh

Dhaka Liaison  Office

Bakhali House, House No.32, Road.116/112, Gulshan-1, Dhaka, Bangladesh

Telefax: 880-2-8835192

Tea Estate

4 Deundi Tea Estate, Hobiganj

4 Mertinga Tea Estate, Moulovi Bazar

4 Chandpore Bagan, Hobiganj

4 Noapara Tea Estate, Hobiganj

Warehouse

4 Deundi Tea Estate, Hobiganj

4 Mertinga Tea Estate, Moulovi Bazar

4 Chandpore Bagan, Hobiganj

4 Noapara Tea Estate, Hobiganj

 

 

DIRECTORS

 

Name

Mr. Wahidur Rahman

Designation

Managing Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

REA Holdings plc

Share Percent

100%

Country

UK

 

 

BUSINESS DETAILS

 

Line of Business

Plantations Management and Production, Warehousing and Export

Items Dealing In

Tea

Terms of Purchase

Local: Cash or Credit

Terms of Sale

Local: Cash or credit

Export: Against L/C

Production Capacity

14 million Kg per year

Last Year Production

14 million Kg

 

 

BANKERS

 

Name

Bangladesh Krishi Bank

Branch

Jubilee Road Branch

Address

Jubilee Road, Chittagong

SWIFT

N/A

 

 

Name

Pubali Bank Limited

Branch

Dewanhat Branch

Address

Dewanhat, Chittagong

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2009

2008

 

2007

Investment

Tk.10 billion

Tk.09 billion

Tk.09 billion

Turnover

Tk.34 billion

Tk.32.7 billion

Tk.32 billion

Liability

NIL

NIL

NIL

Assets

Tk.22 billion

Tk.20 billion

Tk.20 billion

 

* The subject flatly refused to reveal nay information. Whatever collected are unofficially and as such its authenticity could not be verified.

 

 

CAPITAL STRUCTURE

 

Authorized Capital

N/A

Paid Up Capital

N/A

Each Share Value

N/A

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

114.8418

U.S Dollar

1

71.1800

European Euro

1

97.1821

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks

No Found

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$ 40,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

2,200

Office Area (Sq. Ft)

2,200 sq.ft (own)

Garden Area (Sq. Ft)

6500 Hectares (own)

Warehouse Area (Sq. Ft)

10,500 sq.ft.(own)

Range of Products

4 Tea

4 Black Tea

4 Green Tea

Export Market

4 Pakistan

4 EU Countries

4 Middle East

 Number of Gardens

4

Number of Retail Outlets

N/A

Certifications

NIL

Group Name

NIL

Subsidiaries / Affiliates

NIL

Member

4 Bangladeshio Cha Shangshad, Chittagong

4 Chittagong Chamber of Commerce & Industries, Chittagong

 

 

COMMENTS

 

The subject is a private limited company who is engaged in Plantations management and production

of tea; warehousing and exporting of tea. The subject is subsidiary of REA Holdings plc, UK. The subject is incorporated in United Kingdom.

 

The directors are well conversant in their line of trade and they are also experienced businessman.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.20

UK Pound

1

Rs.73.16

Euro

1

Rs.61.88

 

 

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 Company

----

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.