MIRA INFORM REPORT

 

 

Report Date :           

16.05.2011

 

IDENTIFICATION DETAILS

 

Name :

MARITIME ENTREPRENEURS PTE LIMITED

 

 

Registered Office :

Rahman Chamber (2nd floor), 12-13 Motijheel Commercial Area, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

02.03.1982

 

 

Com. Reg. No.:

C-37879

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Marketing Representative and Supplier of all types of flavors, aroma etc

 

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$ 22,000.00

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

Maritime Entrepreneurs Pte Limited

Address

Rahman Chamber (2nd floor), 12-13 Motijheel Commercial Area, Dhaka - 1000

Country

Bangladesh

Telephone No

880-2-9554478, 9561803, 9562948

Fax No

880-2-9565326

E-Mail

mepl@meplbd.com

Website

www.meplbd.com

Established

1982

Company Registration No

C-37879

Registration date

2nd March 1982 

Legal Status

Private Limited  

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Dhaka

Business Type

Marketing Representative & Supplier

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Rahman Chamber (2nd floor), 12-13 Motijheel Commercial Area, Dhaka-1000

Telephone No

880-2-9554478, 9561803, 9562948

Fax No

880-2-9565326

E-Mail

mepl@meplbd.com

Website

www.meplbd.com

Branch

1/1 D.C Roy Road (2nd Floor), Mitford, Dhaka-1100

Factory

N/A

Factory Telephone No

NIL

Factory Fax No

NIL

Warehouse

Rahman Chamber (2nd floor), 12-13 Motijheel Commercial Area, Dhaka-1000

 

DIRECTORS

 

Name

Mr. Geyasuddin Ahmed

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Asif Uddin Ahmed

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name 

Mr. Geyasuddin Ahmed

Share Percentage

70%

Nationality

Bangladeshi

 

 

Name

Mr. Asif Uddin Ahmed

Share Percentage

30%

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Marketing Representative & Supplier

Items Dealing In

Flavors & Ingredients

Terms of Purchase

Import: Against L/C

Terms of Sale

Local: Cash or Credit

 

 

BANKERS

 

Name

IFIC Bank Limited

Branch

Motijheel Branch

Address

Motijheel C/A, Dhaka

SWIFT

N/A

 

FINANCIAL INFORMATION

 

 

 

2009

 

2008

2007

 

Capital Investment

Tk.13.6 million

Tk.12 million

Tk.12 million

Turnover

Tk.74 million

Tk.72.4 million

Tk.72 million 

Liability

NIL

NIL

NIL

Fixed Assets

Tk.22 million

Tk.20 million

Tk.20 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.10 million

Paid Up Capital

Tk.150,000.00

Each Share Value

Tk.100

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

119.6420

U.S Dollar

1

73.1800

European Euro

1

103.9302

 

 

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$ 22,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

30

Office Area (Sq. Ft)

2,000 (rented)

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

4,900 (rented)

Range of Products

4 Flavor and Other Ingredients for Food Industries

4 Flavor

4 Bottle

4 Rubber Stopper

4 Other Ingredients

4 Ingredients for Cosmetics & Toiletries Industries

4 Ingredients for Tobacco Industries  

Major Clients 

4 Local Food & Beverage Industries 

4 Local Pharmaceutical Industries

4 Local Cosmetic & Toiletries Industries

4 Local Tobacco Industries

Imported From

4 Symrise Pte Ltd -------------------------- Germany

4 SGD Group -------------------------------- France

4 KL-Kepang Cocoa Products Sdn Bhd ---- Malaysia

4 Cafosa Gum Sa --------------------------- Spain

4 Degussa Texturant System -------------- France

4 Symex Holdings Ltd ---------------------- Australia

4 AVEBE BA --------------------------------- Netherlands

4 Helvot-Pharma NV ------------------------ Belgium

4 Tate & Lyle -------------------------------- USA

4 Solae LLC ---------------------------------- USA

Certification

NIL

Group Name

NIL  

Subsidiaries / Affiliates

4 BSK Chemical Industry Limited

Member

4 Dhaka Chamber of Commerce & Industry, Dhaka

 

COMMENTS

 

The subject is a private limited company engaged as marketing representative and supplier of all types of flavors, aroma etc. The subject’s major clients include the countries Cosmetic & Toiletries Industries, Pharmaceutical Industries, Food & Beverage Industries and tobacco industries. The qualities of their products are good and they are well reputed as a reliable supplier.

 

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 commitment, it is reported.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.91

UK Pound

1

Rs.73.06

Euro

1

Rs.64.03

 

 

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.