MIRA
INFORM REPORT
|
Report Date : |
26.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
GEM JUTE LIMITED |
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|
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Registered Office : |
House 44, Road 27 (Old), 16 (New),
Dhanmondi, Dhaka-1209 |
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Country : |
Bangladesh |
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Date of Incorporation : |
13.01.2003 |
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Com. Reg. No.: |
C-48127 |
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Legal Form : |
Private Limited |
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|
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Line of Business : |
Manufacturer &
Exporter of Jute Products |
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 |
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|
|
|
Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COMPANY DETAILS
|
Name |
Gem Jute Limited |
|
Address |
House 44, Road 27 (Old), 16 (New), Dhanmondi,
Dhaka-1209 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9138246-52 |
|
Fax No |
880-2-8152061 |
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E-Mail |
|
|
Website |
www.gemjute.com |
|
Established |
2003 |
|
Company Registration No |
C-48127 |
|
Registration date |
13th January 2003 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Register 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 |
House 44, Road 27 (Old), 16 (New), Dhanmondi,
Dhaka-1209 |
|
Telephone No |
880-2-9138246-52 |
|
Fax No |
880-2-8152061 |
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E-Mail |
|
|
Website |
www.gemjute.com |
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Branch |
NIL |
|
Factory |
Moniramjote, Maidandighi, Boda, Panchagarh,
Bangladesh |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Moniramjote, Maidandighi, Boda, Panchagarh,
Bangladesh |
DIRECTORS
|
Name |
Lt. Col. Kazi Shahid Ahmed |
|
Designation |
Chairman & Managing Director |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. K. R. Hasan |
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Designation |
Director |
|
Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Lt. Col. Kazi Shahid Ahmed |
|
Share Percent |
60% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. K. R. Hasan |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer & Exporter |
|
Items Dealing In |
Jute Products |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit Export: Against L/C |
BANKERS
|
Name |
Southeat Bank
Limited |
|
Branch |
Dhanmondi Branch |
|
Address |
Dhanmondi, Dhaka |
|
SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2010 |
2009 |
2008 |
|
Investment |
Tk.24 million |
Tk.22 million |
Tk.22 million |
|
Turnover |
Tk.221 million |
Tk.219.4 million |
Tk.219 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.32 million |
Tk.30 million |
Tk.30 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.250,000.00 |
|
Each Share Value |
Tk.100 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
116.3335 |
|
U.S Dollar |
1 |
75.0200 |
|
European Euro |
1 |
101.7946 |
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 |
250 |
|
Office Area (Sq.
Ft) |
2,000 sq,ft (rented) |
|
Factory Area
(Sq. Ft) |
30,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
5,500 sq.ft (rented) |
|
Range of
Products |
4 Hessian cloth 4 Hessian bags 4 Sacking cloth 4 Gunny bags 4 Nursery cloth 4 Canvass 4 Ropes 4 Rot-proof cloth 4 Polycoated Bags 4 Yarns 4 Fancy Bags 4 Shopping Bags 4 Upholstery 4 Curtain Cloth |
|
Export Market |
4 USA 4 UK 4
Pakistan 4 India 4 China 4 Australia
|
|
Certifications |
4 ISO 9001 : 2000 |
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Group Name |
4 Gemcon Group |
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Subsidiaries /
Affiliates |
4 Gemcon
Food & Agriculture Products Ltd 4 Meena Bazar 4 Gemini Sea Food Ltd 4 Kazi & Kazi Tea Estate Ltd 4 Charka Steel Limited |
|
Member |
4 Dhaka Chamber of Commerce &
Industries, Dhaka 4 Bangladesh Jute Goods Exporter Association, Khulna |
COMMENTS
The subject is a private limited company who is engaged in
manufacturing, selling and exporting of jute goods. The subject is a concern of
Gemcon 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.49.67 |
|
|
1 |
Rs.76.50 |
|
Euro |
1 |
Rs.66.98 |
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 |
|
-- |
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.