MIRA INFORM REPORT
|
Report Date : |
07.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
RIFF LEATHER LIMITED |
|
|
|
|
Registered Office : |
83 Khatungonj, Chittagong |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
10.07.1991 |
|
|
|
|
Com. Reg. No.: |
CH-917 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturing & Exporting of crust and finished leather |
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$ 25,000.00 |
|
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 – 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 |
Riff Leather
Limited |
|
Address |
4, CDA
Noxious Industrial Area, Kalurghat, Chittagong-4221 |
|
Country |
Bangladesh |
|
Telephone No |
880-31-670764,
671220 |
|
Fax No |
880-31-670102 |
|
E-Mail |
|
|
Website |
www.riffleather.com |
|
Established |
1991 |
|
Company Registration No |
CH-917 |
|
Registration date |
10th
July 1991 |
|
Legal Status |
Private
Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Chittagong |
|
Business Type |
Manufacturer & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints
have been heard regarding payments from local suppliers or banks. |
LOCATIONS
|
Head Office |
83
Khatungonj, Chittagong, Bangladesh |
|
Telephone No |
880-31-636245,
618095-6, 617837, 620984, 621483, 2858363-1 |
|
Fax No |
880-31-636381,
631583 |
|
E-Mail |
|
|
Website |
www.tkgroupbd.com |
|
Branch |
Dhaka Office:
|
|
Factory |
4, CDA
Noxious Industrial Area, Kalurghat, Chittagong-4221 |
|
Factory Telephone No |
880-31-670764,
671220 |
|
Factory Fax No |
880-31-670102 |
|
Warehouse |
4, CDA
Noxious Industrial Area, Kalurghat, Chittagong-4221 |
DIRECTORS
|
Name |
Mr. M. A. Taiyab |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. M.A. Kalam |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Khaleda
Begum |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Laila
Bilkis |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Mokhlesur Rahman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. M. A. Taiyab |
|
Share Percentage |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. M.A. Kalam |
|
Share Percentage |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Khaleda
Begum |
|
Share Percentage |
10% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Laila
Bilkis |
|
Share Percentage |
10% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Mokhlesur Rahman |
|
Share Percentage |
10% |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer & Exporter |
|
Items Dealing In |
Crust And
Finished Leather |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Export: Against L/C |
|
Production
Capacity |
9.0 million
square feet per year |
BANKERS
|
Name |
Janata Bank
Limited |
|
Branch |
Agrabad Branch |
|
Address |
Agrabad Commercial Area, Chittagong |
|
SWIFT |
N/A |
FINANCIAL INFORMATION
|
|
2009 |
2008 |
2007 |
|
Capital Investment |
Tk.56.4 million |
Tk.56 million |
Tk.55 million |
|
Turnover |
Tk.254 million |
Tk.252.3million |
Tk.252 million |
|
Liability |
Tk.4 million |
Tk.4.8 million |
Tk.5.9 million |
|
Fixed Assets |
Tk.2 billion |
Tk.1.5 billion |
Tk.1.5 billion |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.200 million |
|
Paid Up Capital |
Tk.4.5 million |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
120.4046 |
|
U.S Dollar |
1 |
73.0300 |
|
European Euro |
1 |
108.3181 |
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 |
180 |
|
Office Area (Sq.
Ft) |
1,200 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
48,400 sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
5,700 sq.ft.(own) |
|
Range of
Products |
4 Aniline &
Semi Aniline Leather 4 Aniline Nappa
& Polished Leather 4 Burnish Leather 4 Classic Men's
& Women's Shoe Upper Leather 4 Corrected Grain
In Versatile Effects Leather 4 Embossed Print
Leather 4 Glazed Aniline
& Semi Aniline Leather 4 Ladies Long
Boot Classic Leather 4 Ladies Long Boot
Fashionable Leather 4 Milled &
Imitation Milled Leather 4 Nubuck As Shoes
& Garments Leather 4 Nappa As Shoes
& Garments Leather 4 Non Chrome
& Non Vegetable Leather 4 Oils &
Waxes Pull Up With Versatile Aniline Effects 4 Patent Leather 4 Rub Of Leather 4 Suede &
Split Leather 4 Vegetable &
Non Veg Bags Leather |
|
Export Market |
4 Hong Kong 4 China 4 Taiwan 4 Japan 4 Others Asian countries 4 America & European countries |
|
Certification |
NIL |
|
Group Name |
4 T.K
Group of Industries |
|
Subsidiaries /
Affiliates |
4 Shabnam
Vegetable Oil Inds.Ltd 4 Super Oil Refinery Ltd 4 Bay Fishing Corporation Ltd 4 T.K. Chemical Complex Ltd 4 T.K. Paper Products Ltd 4 N. R. Steel Galvanizing Plant Ltd 4 Karnafully Steel Mills Ltd 4 Karnafully Galvanizing Mills Ltd 4 Bengal Sack Corporation Ltd 4 Marshal Oil Ltd 4 Progressive Containers Ltd 4 Samuda Containers Ltd 4 T.K. Gas & Gas Cylinder Ltd 4 Bengal Mines Developments Ltd 4 Rangapani Tea Estate 4 Super Knitting & Dyeing Mills Ltd 4 Bangladesh Timber & Plywood Ind. Ltd 4 Polytex Yarn Product Ltd 4 Super Board Mills Ltd 4 Super Formica & Lamination Ltd 4 Chin Hung Fibres Ltd 4 Modern Poly Industries Ltd |
|
Member |
4 Bangladesh Finished Leather &
Leather Goods Exporters Association, Dhaka 4 Chittagong
Chamber of Commerce & Industry, Chittagong |
COMMENTS
The subject is a private limited company who is engaged in
manufacturing & exporting of crust and finished leather to overseas
countries. The subject is concern of T.K. Group of Industries, a renowned
business house of the country. The qualities of their products are good and
their order book remains full round the year.
The directors are well conversant in their line of trade and
they are also experienced businessman. They are financially solvent and good at
his business commitments, it is reported.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.78 |
|
UK Pound |
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.65.27 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.