MIRA INFORM REPORT
|
Report Date : |
26.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
BAY TANNERIES LIMITED |
|
|
|
|
Registered Office : |
Abosor Bhaban(2nd floor), 7-13 Satmosjid Road, Dhaka-1209 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
18.10.1977 |
|
|
|
|
Com. Reg. No.: |
C-5128 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
manufacturing and exporting 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 – 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 |
Bay Tanneries
Limited |
|
Address |
21 Hazaribagh, Dhaka-1209 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9661134,
8611468, 8612335 |
|
Fax No |
880-2-8618716,
8113581 |
|
E-Mail |
info@baygroupco.com |
|
Website |
www.baygroupco.com |
|
Established |
1977 |
|
Company Registration No |
C-5128 |
|
Registration date |
18th
October 1977 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
Abosor
Bhaban(2nd floor), 7-13 Satmosjid Road, Dhaka-1209, Bangladesh |
|
Telephone No |
880-2-9129781 |
|
Fax No |
880-2-8123535 |
|
E-Mail |
info@baygroupco.com |
|
Website |
www.baygroupco.com |
|
Registered Address |
21 Hazaribagh, Dhaka-1209 |
|
Factory |
21 Hazaribagh, Dhaka-1209 |
|
Factory Telephone No |
880-2-9661134,
8611468, 8612335 |
|
Factory Fax No |
880-2-8618716,
8113581 |
|
Warehouse |
21 Hazaribagh, Dhaka-1209 |
DIRECTORS
|
Name |
Mrs. Shahnoor
Rahman |
|
Designation |
Chairperson |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Shahnoor
Rahman |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Rezaur
Rahman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ziaur Rahman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mr. Asfar
Rahman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mrs. Shahnoor
Rahman |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Shahnoor
Rahman |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Rezaur
Rahman |
|
Share Percent |
10% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ziaur Rahman |
|
Share Percent |
10% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Asfar Rahman |
|
Share Percent |
10% |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer & Exporter |
|
Items Dealing In |
Finished Leather |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit Export: Against L/C |
|
Production
Capacity |
12 million sq.
ft per year |
|
Last Year
Production |
12 million sq.
ft |
BANKERS
|
Name |
Southeast Bank
Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Agrani Bank
Limited |
|
Branch |
Ramna Branch |
|
Address |
Ramna, Dhaka |
|
SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2009 |
2008 |
2007 |
|
Investment |
Tk.77 million |
Tk.76.4 million |
Tk.75.8 million |
|
Turnover |
Tk.570 million |
Tk.568 million |
Tk.562 million |
|
Liability |
Tk.8.8 million |
Tk.9.4 million |
Tk.10.2 million |
|
Assets |
Tk.4.4 billion |
Tk.4.2 billion |
Tk.3.9 billion |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.200 million |
|
Paid Up Capital |
Tk.5 million |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
118.7450 |
|
U.S Dollar |
1 |
73.3900 |
|
European Euro |
1 |
103.5313 |
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 |
220 |
|
Office Area (Sq.
Ft) |
3,800 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
52,000 sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
8,000 sq.ft.(own) |
|
Range of
Products |
4 Pull up Nuback & Burnished
Leather Bush of Lining Leather 4 Full
Chrome, Semi-Chrome, Full Vegetable, Natural & Dyed 4 Brush of Leather 4 Soft Shoe Upper 4 Glazed Shoe Upper |
|
Export
Market |
4 Italy 4 Germany 4 Greece 4 Hong Kong 4 France 4
Singapore 4 China 4 Taiwan |
|
Sources |
4 Buffalo 4 Calf 4 Cow 4 Goat 4 Bovine |
|
Certifications |
NIL |
|
Group Name |
4 Bay Group |
|
Subsidiaries /
Affiliates |
4 Bay Footwear
Limited 4 Bay Agro
Industries Limited 4 Bay Rubber
Limited |
|
Member |
4 Dhaka Chamber
of Commerce & Industries, Dhaka 4 Bangladesh
Finished Leather & Industries, Dhaka |
COMMENTS
The subject is a private limited company who is engaged in
manufacturing and exporting finished leather. The qualities of their products
are good and they are well known in overseas markets. The subject is a concern
of Bay Group.
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 is reported.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.38 |
|
UK Pound |
1 |
Rs.73.31 |
|
Euro |
1 |
Rs.63.70 |
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.