MIRA INFORM
REPORT
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Report Date : |
04.01.2011 |
IDENTIFICATION DETAILS
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Name :` |
ABUL KHAIR STEEL MELTING LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
16.10.2008 |
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Com. Reg. No.: |
CH-6527 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processing and melting
of MS Ingots required in manufacturing MS Rods |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 20,000.00 |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
COMPANY DETAILS
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Name |
Abul Khair Steel Melting Limited |
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Address |
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Country |
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Telephone No |
880-31-714541-4 |
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Fax No |
880-31-720239 |
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E-Mail |
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Website |
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Established |
2008 |
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Company Registration No |
CH-6527 |
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Registration date |
16th October 2008 |
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Legal Status |
Private Limited |
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Issuing Authority |
The Registrar of joint Stock Companies, |
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Business Type |
Processor |
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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
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Head Office |
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Telephone No |
880-31-714541-4 |
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Fax No |
880-31-720239 |
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E-Mail |
mm@abulkhairgroup.com |
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Website |
www.abulkhairgroup.com |
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Branch |
4 4 4 Laksham 4 Chowmohani |
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Factory |
Kadam
Rasul, Shitakund, |
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Factory Telephone No |
N/A |
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Factory Fax No |
N/A |
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Warehouse |
Kadam Rasul,
Shitakund, |
DIRECTORS
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Name |
Mr. Abul Kashem |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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Name |
Mr. Abul Hashem |
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Designation |
Managing
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Abu Said Chowdhury |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Abu Syed Chowdhury |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Shah Shafiqul Islam |
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Designation |
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
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Name |
Mr. Abul Kashem |
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Share Percent |
30% |
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Nationality |
Bangladeshi |
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Name |
Mr. Abul Hashem |
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Share Percent |
30% |
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Nationality |
Bangladeshi |
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Name |
Mr. Abu
Said Chowdhury |
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Share Percent |
20% |
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Nationality |
Bangladeshi |
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Name |
Mr. Abu
Syed Chowdhury |
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Share Percent |
10% |
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Nationality |
Bangladeshi |
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Name |
Mr. Shah
Shafiqul Islam |
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Share Percent |
10% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
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Line of Business |
Processor |
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Items Dealing In |
Steel Products |
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Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
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Terms of |
Local: Cash or credit |
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Production
Capacity |
275,000 m/ton
per day |
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Last Year
Production |
275,000 m/ton |
BANKERS
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Name |
Standard
Chartered Bank |
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Branch |
Agrabad Branch, |
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Address |
Agabad Comercial Area, |
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SWIFT |
N/A |
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Name |
AB Bank Limited |
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Branch |
Port Connecting
Road Branch, |
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Address |
Port Connecting Road, |
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SWIFT |
N/A |
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Name |
National Bank
Limited |
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Branch |
Agrabad Branch, |
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Address |
Agabad Comercial Area, |
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SWIFT |
N/A |
FINANCIAL INFORMATION
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Year |
2009 |
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Investment |
Tk.45 million |
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Turnover |
NOT DISCLOSED |
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Liability |
NOT DISCLOSED |
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Assets |
Tk.72 million |
CAPITAL STRUCTURE
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Authorized
Capital |
Tk.100 million |
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Paid Up Capital |
Tk.1 million |
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Each Share Value |
Tk.100.00 |
EXCHANGE RATE
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Currency |
Unit |
Bangladeshi Taka (BDT) |
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1 |
110.7104 |
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U.S Dollar |
1 |
70.9500 |
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European Euro |
1 |
94.9453 |
ADVERSE DATA MONITORING
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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
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Amount |
Based On |
|
US$ 20,000.00 |
90 Days |
GENERAL INFORMATION
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Employees |
240 |
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Office Area (Sq.
Ft) |
2,895 sq.ft (own) |
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Factory Area
(Sq. Ft) |
2.5 acres of land (own) |
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Warehouse Area
(Sq. Ft) |
9,875 sq.ft.(own) |
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4 MS Ingots |
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Major Foreign
Suppliers |
UNKNOWN |
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Certifications |
NIL |
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Group Name |
4 Abul Khair Group |
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Subsidiaries /
Affiliates |
4 Abul Khair Tobacco Co Limited 4 Shah Cement Industries Limited 4 Starship Condensed Milk Limited 4 Shah Dairy Food Products Limited 4 Abul Khair Steel Mills Limited 4 Abul Khair Trading Co Limited 4 Abul Khair Biri Factory Limited 4 Abul Khair Edible Oil Co Limited 4 Abul Khair Tea Company Limited 4 Abul Khair Steel Products
Limited |
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Member |
4 |
COMMENTS
The subject is a family owned private limited company that
is engaged in processing and melting of MS Ingots required in manufacturing MS
Rods. The company processes the ingots and supplies to its sister concern Abul
Khair Steel Products Ltd which manufactures the MS rods.
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 commitments, it reported.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.67 |
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|
1 |
Rs.69.45 |
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Euro |
1 |
Rs.59.37 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.