MIRA INFORM REPORT

 

 

Report Date :           

23.03.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

SHARK LIMITED

 

 

Registered Office :

13-C Centerpoint Concord, 14/A Tejkunipara Farmgate, Dhaka - 1215

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

08.06.1995

 

 

Com. Reg. No.:

C-51444

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importing & Distributing of telecom products, IT products, industrial products & consumer goods

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

Shark Limited

Note: The subject operates by this name.

Address

13-C Centerpoint Concord, 14/A Tejkunipara Farmgate, Dhaka - 1215

Country

Bangladesh

Telephone No

880-2-9125471, 9125472, 9125473

Fax No

880-2-9127734

E-Mail

info@sharkltd.com

Website

www.sharkltd.com

Established

1995

Company Registration No

C-51444

Registration date

8th June 1995

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Dhaka

Business Type

Importer & Distributor

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

13-C Centerpoint Concord, 14/A Tejkunipara Farmgate, Dhaka - 1215

Telephone No

880-2-9125471, 9125472, 9125473

Fax No

880-2-9127734

E-Mail

info@sharkltd.com

Website

www.sharkltd.com

Branch

NIL

Factory

N/A

Factory Telephone No

NIL

Factory Fax No

NIL

Warehouse

13-C Centerpoint Concord, 14/A Tejkunipara Farmgate, Dhaka - 1215

 

COUNTRY MANAGER

 

Name

Mr. Joseph B. Ulysses

Designation

Country Manager 

Nationality

N/A

 

 

BUSINESS DETAILS

 

Line of Business

Importer & Distributor 

Items Dealing In

Various 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.21 million

Tk.20 million

Tk.20 million

Turnover

Tk.193 million

Tk.192.5 million

Tk.192 million

Liability

NIL

NIL

NIL

Assets

Tk.27 million

Tk.25 million

Tk.25 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.30 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

118.2366

U.S Dollar

1

72.4800

European Euro

1

103.0883

 

 

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)

2,000 sq.ft (rented)

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

5,000 sq.ft. (rented)

Range of Products

Telecom & IT Sector

4 Air Conditioning System: Both Precision & Comfort

4 AC & DC Power

4 DC Power: Back-Up

4 DC Power: Main

4 Installation: MSC/BSC/BTS/MW

4 Telecommunications infrastructure build-up (Civil Works)

4 Security Systems: Fire suppression, Fire Extinguisher

 

Industrial Sector

4 Equipment Lay out Plan & Design

4 Boiler Selection

4 Supply & Installation of Gas/Diesel Generator

4 Supply & Installation of Industrial Light

4 Providing Fire System

4 All type of Garments Machinery assemble & Installation

 

Consumer Goods

4 Beverages

4 Cosmetics

4 Carotino Edible Oil

4 Food Supplement

4 Foot wear

Major Foreign Principal 

4 STULZ, Germany

Certifications

NIL

Group Name

NIL

Subsidiaries / Affiliates

NIL 

Member

1 Dhaka Chamber of Commerce & Industries, Dhaka

 

 

COMMENTS

 

The subject is a private limited company who is engaged in importing & distributing of telecom products, IT products, industrial products & consumer goods. The subject is a Bangladesh Agent of STULZ, Germany.

 

The country manager is well conversant in his line of trade and he is also experienced businessman.

 

We did not found any company name Whizz Air-Conditioning & Communication Systems Ltd in Local ROC.


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.97

UK Pound

1

Rs.73.35

Euro

1

Rs.63.98

 

 

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

 

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.