MIRA INFORM REPORT
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Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
BRIGHT SEA FOOD LIMITED |
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Registered Office : |
4 TB Boundary Road, Moulovipara, Khulna-9241 |
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Country : |
Bangladesh |
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Date of Incorporation : |
17.03.1985 |
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Com. Reg. No.: |
K-709 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processing & Exporting of Frozen Shrimps |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 22,000.00 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
COMPANY DETAILS
|
Name |
Bright Sea Food
Limited |
|
Address |
4 TB Boundary
Road, Moulovipara, Khulna-9241 |
|
Country |
Bangladesh |
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Telephone No |
88-041-722221, 721774, 811267 |
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Fax No |
88-041-730478 |
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E-Mail |
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|
Website |
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Established |
1985 |
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Company Registration No |
K-709 |
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Registration date |
17th March 1985 |
|
Legal Status |
Private Limited |
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Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Khulna |
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Business Type |
Processor & Exporter |
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Status |
Satisfactory |
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Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
LOCATIONS
|
Head Office |
4 TB Boundary
Road, Moulovipara, Khulna-9241.
Bangladesh |
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Telephone No |
88-041-722221, 721774, 811267 |
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Fax No |
88-041-730478 |
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E-Mail |
|
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Website |
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Branch |
NIL |
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Factory |
Bagmara East Rupsha, Khulna |
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Factory Telephone No |
88-041-800212, 800216, 800405 |
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Factory Fax No |
88-041-800212, 800216, 800405 EXT: 30 |
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Warehouse |
Bagmara East Rupsha, Khulna |
DIRECTORS
|
Name |
Mr. Mohammad Rezaul Hoque |
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Designation |
Chairman & Managing Director |
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Nationality |
Bangladeshi |
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Name |
Mrs. Hasna Hena |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Mehedi Hasan |
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Designation |
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Mohammad Rezaul Hoque |
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Share Percent |
60% |
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Nationality |
Bangladeshi |
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Name |
Mrs. Hasna Hena |
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Share Percent |
20% |
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Nationality |
Bangladeshi |
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Name |
Mr. Mehedi Hasan |
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Share Percent |
20% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Processor & Exporter |
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Items Dealing In |
Frozen Sea Foods |
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Terms of Purchase |
Local: Cash or Credit |
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Terms of Sale |
Export: Against L/C |
BANKERS
|
Name |
Janata Bank Ltd |
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Branch |
Kahn A Sabur Road Branch |
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Address |
Kahn A Sabur Road, Khulna |
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SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2010 |
2009 |
2008 |
|
Investment |
Tk.13 million |
Tk.12 million |
Tk.12 million |
|
Turnover |
Tk.91 million |
Tk.90.4 million |
Tk.90 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.20 million |
Tk.18 million |
Tk.18 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.10 million |
|
Paid Up Capital |
Tk.150,000.00 |
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Each Share Value |
Tk.100 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
117.9106 |
|
U.S Dollar |
1 |
74.7500 |
|
European Euro |
1 |
102.8037 |
ADVERSE DATA MONITORING
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Dishonored
Checks |
No Found |
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Debt |
No Records Found |
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Litigation |
No Records Found |
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Performance
Defaults |
No Records Found |
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Adverse Press
Coverage |
No Records Found |
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Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based On |
|
US$ 22,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
80 |
|
Office Area (Sq.
Ft) |
1,200 sq.ft (rented) |
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Factory Area
(Sq. Ft) |
18,000 sq.ft (rented) |
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Warehouse Area
(Sq. Ft) |
5,800 sq.ft (rented) |
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Range
of Products |
4 Black
Tiger Block Frozen Count |
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Export
Market |
4 Global |
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Brand
Name |
4 Rainbow |
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Certifications |
4 ISO 22000 |
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Group Name |
NIL |
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Subsidiaries /
Affiliates |
4 Modern Sea Food
Limited |
|
Member |
4 Bangladesh
Frozen Foods Exporters Association, Dhaka 4 Khulna Chamber
of Commerce & Industries, Khulna |
COMMENTS
The subject is a private limited company engaged in
processing & exporting of frozen shrimps to overseas countries.
The directors are 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.47.81 |
|
UK Pound |
1 |
Rs.75.16 |
|
Euro |
1 |
Rs.65.11 |
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 |
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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 |
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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 |
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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 |
---- |
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.