MIRA INFORM REPORT
|
Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ABUL KHAIR SHIPPING LIMITED |
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|
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Registered Office : |
D.T. Road, Pahartali, Chittagong |
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Country : |
Bangladesh |
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Date of Incorporation : |
15.10.2000 |
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Com. Reg. No.: |
CH-7458 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Shipping Company |
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$ 35,000.00 |
|
Status : |
Moderate |
|
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 – 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 |
COMPANY DETAILS
|
Name |
Abul Khair
Shipping Limited |
|
Address |
D.T. Road, Pahartali, Chittagong |
|
Country |
Bangladesh |
|
Telephone No |
880-31-714541-4 |
|
Fax No |
880-31-720239 |
|
E-Mail |
|
|
Website |
|
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Established |
2000 |
|
Company Registration No |
CH-7458 |
|
Registration date |
15th October 2000 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of joint Stock Companies & Firms, Chittagong |
|
Business Type |
Shipping Company |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
D.T. Road, Pahartali, Chittagong |
|
Telephone No |
880-31-714541-4 |
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Fax No |
880-31-720239 |
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E-Mail |
|
|
Website |
|
|
Branch |
4 Dhaka 4 Khulna 4 Laksham 4 Chowmohani |
|
Factory |
N/A |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
D.T. Road, Pahartali, Chittagong |
DIRECTORS
|
Name |
Mr. Abul Kashem |
|
Designation |
Chairman |
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Nationality |
Bangladeshi |
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|
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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 |
|
Designation |
Director |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Abu Syed Chowdhury |
|
Designation |
Director |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Shah Shafiqul Islam |
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Designation |
Director |
|
Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Abul Kashem |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abul Hashem |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abu
Said Chowdhury |
|
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 |
|
Share Percent |
10% |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Shipping Company |
|
Items Dealing In |
Transportation |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or credit |
BANKERS
|
Name |
Standard
Chartered Bank |
|
Branch |
Agrabad Branch, |
|
Address |
Agabad Comercial Area, Chittagong |
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SWIFT |
N/A |
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|
|
|
Name |
AB Bank Limited |
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Branch |
Port Connecting
Road Branch, |
|
Address |
Port Connecting Road, Chittagong |
|
SWIFT |
N/A |
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|
|
|
Name |
National Bank
Limited |
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Branch |
Agrabad Branch, |
|
Address |
Agabad Comercial Area, Chittagong |
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SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2009 |
2008 |
2007 |
|
Investment |
Tk.22 million |
Tk.20 million |
Tk.20 million |
|
Turnover |
Tk.217.3 million |
Tk.215.6 million |
Tk.215 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.32 million |
Tk.30 million |
Tk.30 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.250,000.00 |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
120.2794 |
|
U.S Dollar |
1 |
74.0500 |
|
European Euro |
1 |
106.6764 |
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$ 35,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
45 |
|
Office Area (Sq.
Ft) |
2,895 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
5,000 sq.ft.(own) |
|
Range of
Services |
4 Transportation |
|
Number of Fleets
|
4 4 Ships |
|
Certifications |
NIL |
|
Group Name |
4 Abul Khair Group |
|
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 industries
Limited 4 Abul Khair Steel Products
Limited 4 Abul Khair Consumer Products Limited |
|
Member |
4 Chittagong Chamber of Commerce
& Industries, Chittagong |
COMMENTS
The subject is a family owned private limited company that is
engaged as shipping company. The subject is a concern of Abul Khair Group, a
renowned business house of Bangladesh.
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.44.82 |
|
UK Pound |
1 |
Rs.72.84 |
|
Euro |
1 |
Rs.64.58 |
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 |
|
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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.