MIRA INFORM REPORT

 

 

Report Date :           

20.06.2011

 

IDENTIFICATION DETAILS

 

Name :

LAXMAN JUTE MILLS LIMITED

 

 

Registered Office :

Harinarayanpur, E.B, Kushtia

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

17.09.1981

 

 

Com. Reg. No.:

KHC-881

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

exporting of raw jute

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

US$ 25,000.00

 

 

Status :

Moderate

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Bangladesh

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

COMPANY DETAILS

 

Name

Laxman Jute Mills Limited

Address

Harinarayanpur, E.B, Kushtia

Country

Bangladesh

Telephone No

 
+880-41-774606, 774198

Fax No

+880-41-774312

E-Mail

 
uttarajute@yahoo.com ; laxman.traders@yahoo.com

Website

NIL

Established

1981

Company Registration No

KHC-881

Registration date

17th September 1981

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Khulna

Business Type

Exporter

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Harinarayanpur, E.B, Kushtia

Telephone No

 
+880-41-774606, 774198

Fax No

+880-41-774312

E-Mail

 
uttarajute@yahoo.com; laxman.traders@yahoo.com

Website

NIL

Branch

D.C. Road, Daulatpur, Khulna

Factory

N/A

Factory Telephone No

 
N/A

Factory Fax No

N/A

Warehouse

Harinarayanpur, E.B, Kushtia

 

DIRECTORS

 

Name

Mr. Sujit Kumar Bhattacharyya

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Avijit Kumar Bhattacharyya

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Mr. Sujit Kumar Bhattacharyya

Share Percent

60%

Nationality

Bangladeshi

 

 

Name

Mr. Avijit Kumar Bhattacharyya

Share Percent

40%

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Exporter

Items Dealing In

Rae Jute 

Terms of Purchase

Local: Cash or Credit

Terms of Sale

Export: Against L/C

 

 

BANKERS

 

Name

Uttara Bank Limited

Branch

Kushti Branch

Address

Kushtia, Bangladesh 

SWIFT

N/A

 

FINANCIAL INFORMATION

 

Year

2009

2008

 

2007

Investment

Tk.21 million

Tk.21 million

Tk.20 million

Turnover

Tk.198.4 million

Tk.198 million

Tk.197 million

Liability

NIL

NIL

NIL

Assets

Tk.27 million

Tk.27 million

Tk.26 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.10 million

Paid Up Capital

Tk.150,000

Each Share Value

Tk.100.00

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

119.7250

U.S Dollar

1

73.9500

European Euro

1

104.8759

 

 

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$ 25,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

100

Office Area (Sq. Ft)

1,500 Sq.ft (rented)

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

6,500 Sq.ft (rented)

Range of Products

4 Raw Jute  

Export Market

4 China

4 Nepal

4 Pakistan

4 India

Certifications

NIL

Group Name

NIL

Subsidiaries / Affiliates

4 Uttara Jute Traders

4 Mita Traders

4 Saurav Traders                     

Member

4 Kushtia Chamber of Commerce & Industry, Kushtia

4 Bangladesh Jute Exporters Association, Dhaka

 

 

COMMENTS

 

The subject is a private limited company engaged in exporting of raw jute to overseas countries.

 

The directors are experienced people in this line of trade. They are reported to be financially healthy and strong in their business commitments.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.43

Euro

1

Rs.63.62

 

 

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.