MIRA INFORM REPORT

 

 

Report Date :

14.01.2011

 

IDENTIFICATION DETAILS

 

Name :

2M CORPORATION LTD

 

 

Registered Office :

Erectors House (5th Floor, 18, Kemal Ataturk Avenue, Banani C/A, Dhaka 1213

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

18.09.2005

 

 

Com. Reg. No.:

C-51482

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Importing & Selling of Green energy products, security and surveillance products

 

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$ 20,000.00

 

 

Status :

Satisfactory

 

 

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

 

INQUIRY DETAILS   

 

Name Given

2M Corporation Ltd

Address Given

Erectors House (5th Floor), 18 Kemal Attaturk Avenue, Banani, Dhaka, Bangladesh

Tel No Given

NIL

Fax No Given

NIL

E-Mail Given:

NIL

 

 

COMPANY DETAILS

 

Name

2M Corporation Ltd

Address

Erectors House (5th Floor, 18, Kemal Ataturk Avenue, Banani C/A, Dhaka 1213

Country

Bangladesh

Telephone No

880-2-8861448-9

Fax No

880-2-8857480

E-Mail

info@2mco.net

Website

www.2mco.net

Established

2005

Company Registration No

C-51482

Registration date

18th September 2005

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Dhaka

Business Type

Importing & Selling 

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Erectors House (5th Floor, 18, Kemal Ataturk Avenue, Banani C/A, Dhaka 1213

Telephone No

880-2-8861448-9

Fax No

880-2-8857480

E-Mail

info@2mco.net

Website

www.2mco.net

Branch

NIL

Factory

NIL

Factory Telephone No

N/A

Factory Fax No

N/A

Warehouse

Erectors House (5th Floor, 18, Kemal Ataturk Avenue, Banani C/A, Dhaka 1213

 

 

DIRECTORS

 

Name

Mr. Mesbah Ahmed

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Mohammad Shahjahan 

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Mr. Mesbah Ahmed

Share Percent

70%

Nationality

Bangladeshi

 

 

Name

Mr. Mohammad Shahjahan 

Share Percent

30%

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Importing & Selling

Items Dealing In

Green energy products, security and surveillance products

Terms of Purchase

Import: Against L/C

Terms of Sale

Local: Cash or Credit

BANKERS

 

Name

Standard Chartered Bank

Branch

Banani Branch

Address

Banani, Dhaka

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2009

2008

 

2007

Investment

Tk.12 million

Tk.12 million

Tk.10 million

Turnover

Tk.70 million

Tk.69.2 million

Tk.68 million

Liability

NIL

NIL

NIL

Assets

Tk.17 million

Tk.17 million

Tk.15 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.20 million

Paid Up Capital

Tk.150,000.00

Each Share Value

Tk.100.00

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

111.9315

U.S Dollar

1

71.0000

European Euro

1

93.2656

 

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$ 20,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

30

Office Area (Sq. Ft)

1,200 sq.ft (rented)

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

2,000  sq.ft.(rented)

Range of Products

4 Concealed Weapon Detector (CWD)

4 Vehicle Tracking System (VTS)

4 Biometrics (physical access control in home, office and car)

4 Radio Frequency Identification (RFID)

4 Electronic Alert system

4 Battery Re-generator

4 Solar Energy System

4 Maintenance free batteries

Imported From 

Refused to reveal suppliers name.  

Certifications

NIL

Group Name

NIL

Subsidiaries / Affiliates

NIL

Member

4 Dhaka Chamber of Commerce & Industries, Dhaka 

 

COMMENTS

 

The subject is a family owned private limited company who is engaged in importing & selling of green energy products, security and surveillance products to law enforcement facilities such as correctional institutions as well as home, airports, hotels, government agencies, schools, courthouses, event and sports venues, the military and commercial business houses.

 

The directors are all experienced people who know their job well. They are financially solvent and good at his business commitments, it is reported.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.13

UK Pound

1

Rs.71.05

Euro

1

Rs.59.10

 

 

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%)

 

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.