MIRA INFORM REPORT

 

 

Report Date :

14.01.2011

 

IDENTIFICATION DETAILS

 

Name :

INDUSTRIAL HAND PROTECTION LTD

 

 

Registered Office :

Plot No.6, Road No.05, Sector-1/A, Chittagong Export Processing Zone, Chittagong-4223

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

15.02.2010

 

 

Com. Reg. No.:

C-79250

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Manufacturer & Exporter of Ready-made Garments & Textiles

 

 

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

 

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

Industrial Hand Protection Ltd

Address Given

Plot No.06, Road No.05, Sector-1/A, CEPZ, Chittagong-4223, Bangladesh

Tel No Given

NIL

Fax No Given

NIL

E-Mail Given:

NIL

 

 

COMPANY DETAILS

 

Name

Industrial Hand Protection Ltd

Address

Plot No.6, Road No.05, Sector-1/A, Chittagong Export Processing Zone, Chittagong-4223

Country

Bangladesh

Telephone No

880-31-740781

Fax No

880-31-740784

E-Mail

N/A 

Website

N/A 

Established

2010

Company Registration No

C-79250

Registration date

15th February 2010

Legal Status

Private Limited

Business Type

Manufacturer & Exporter

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Plot No.6, Road No.05, Sector-1/A, Chittagong Export Processing Zone, Chittagong-4223

Telephone No

880-31-740781

Fax No

880-31-740784

E-Mail

N/A 

Website

N/A 

Branch

NIL

Factory

Plot No.6, Road No.05, Sector-1/A, Chittagong Export Processing Zone, Chittagong-4223

Factory Telephone No

N/A

Factory Fax No

N/A

Warehouse

Plot No.6, Road No.05, Sector-1/A, Chittagong Export Processing Zone, Chittagong-4223

 

 

MANAGEMENT

 

Name

Mr. Adnan Ahmed Peerzada

Designation

Assistant Manager

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Jay Industrial Hand Protection Limited

Share Percent

100

Country

Canada

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturer & Exporter

Proposed Items Dealing In

Ready-made Garments & Textiles

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Export: Against L/C

 

 

BANKERS

 

Name

Standard Chartered Bank

Branch

Agrabad Branch

Address

Agrabad C/A, Chittagong

SWIFT

N/A

FINANCIAL INFORMATION

 

Year

2010

2009

 

2008

Investment

US$ 6.10 million

N/A

N/A

Turnover

N/A

N/A

N/A

Liability

N/A

N/A

N/A

Assets

N/A

N/A

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.50 million

Paid Up Capital

Tk.5 million

Each Share Value

Tk.100

 

 

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

No Recommendation

No Recommendation

 

 

GENERAL INFORMATION

 

Employees

N/A

Office Area (Sq. Ft)

N/A

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

N/A

Proposed Range of Products

4 Industrial Safety Wear

4 Gloves

4 Garments Items

4 Knits Items

Export Market

N/A

Certifications

NIL

Group Name

NIL

Subsidiaries / Affiliates

NIL

Member

4 Chittagong Chamber of Commerce & Industries, Chittagong

4 Bangladesh Garments Manufacturer & Exporters Association

 

 

COMMENTS

 

The subject is a private limited company is a 100% foreign owned Canadian company will setting up textile, industrial safety wears and garment manufacturing industry in Chittagong Export Processing Zone (EPZ).

 

We did not find ROC file in Register of Joint Stock Companies and Firms, so we do not mention the director name.

 

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.