MIRA INFORM REPORT
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Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
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Name : |
MODERN FIBRE INDUSTRIES LIMITED |
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Registered Office : |
BSM Center, 119/122, Amin Market, Chittagong |
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Country : |
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Date of Incorporation : |
17.01.2005 |
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Com. Reg. No.: |
CH-5322 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing & Selling of Yarns
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No. of Employees
: |
780 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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$ 25,000.00 |
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Status : |
Satisfactory |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Bangladesh |
b1 |
b1 |
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Risk Category |
ECGC
Classification |
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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 |
|
Name |
Modern Fibre
Industries Limited |
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Address |
Dhaka Building ( 1st floor), 34 Chand Meah Lane, Khatungonj,
Chittagong- 4000 |
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Country |
Bangladesh |
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Telephone No |
880-31-624372,620910,610914 |
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Fax No |
880-31-636381,
631583 |
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E-Mail |
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Website |
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Established |
2005 |
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Company Registration No |
CH-5322 |
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Registration date |
17th January 2005 |
|
Legal Status |
Private Limited |
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Issuing Authority |
The
Registrar of Joint Stock Companies & Firms, Chittagong |
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Business Type |
Manufacturer
& Seller |
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Status |
Satisfactory |
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Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
BSM Center,
119/122, Amin Market, Chittagong |
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Telephone No |
880-31-624372,610914 |
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Fax No |
880-31-610841 |
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E-Mail |
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Website |
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Branch |
Dhaka Building ( 1st floor), 34 Chand Meah Lane, Khatungonj,
Chittagong- 4000 Tel No: 880-31-624372,620910,610914 Fax No: 880-31-636381, 631583 |
|
Factory |
PAB Road,
Charpatharghata, P.S - Karnafully, Chittagong |
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Factory Tel No |
NIL |
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Factory Fax No |
NIL |
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Warehouse |
PAB Road,
Charpatharghata, P.S - Karnafully, Chittagong |
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Name |
Mr. Abul Bashar
Chowdhury |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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Name |
Mr. Abu Sufian
Chowdhury |
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Designation |
Managing
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Abul Mashud
Chowdhury |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mrs. Khaleda
Begum |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Mohammad
Mostafa Haider |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Ms. Farzana Afroze |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Ms. Rizwana Afroze |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Abul Bashar
Chowdhury |
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Share Percent |
0.04% |
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Country |
Bangladeshi |
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Name |
Mr. Abu Sufian
Chowdhury |
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Share Percent |
0.04% |
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Country |
Bangladeshi |
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Name |
Mr. Abul Mashud
Chowdhury |
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Share Percent |
0.04% |
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Country |
Bangladeshi |
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Name |
Mrs. Khaleda
Begum |
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Share Percent |
0.1% |
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Country |
Bangladeshi |
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Name |
Mr. Mohammad
Mostafa Haider |
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Share Percent |
0.1% |
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Country |
Bangladeshi |
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Name |
Ms. Farzana Afroze |
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Share Percent |
0.04% |
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Country |
Bangladeshi |
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Name |
Ms. Rizwana Afroze |
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Share Percent |
0.04% |
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Country |
Bangladeshi |
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|
|
|
Name |
Modern Hatchery Limited
(Represented By Abu Sufian Chowdhury) |
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Share Percent |
83.1% |
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Country |
Bangladeshi |
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|
|
|
Name |
Modern Poly Industries
Limited (Represented By Abul Bashar Chowdhury) |
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Share Percent |
16.4% |
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Country |
Bangladeshi |
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Line of Business |
Manufacturing
& Selling |
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Items Dealing In |
Yarns |
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Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
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Terms of
Purchase |
Local: Cash or Credit |
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Name |
Mercantile Bank Ltd |
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Branch |
Agrabad Branch |
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Address |
Mishkat Arcade (Ground Floor & Level -1), 21/1, Agrabad C/A,
Chittagong |
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SWIFT |
MBLBBDDH003 |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.36 million |
Tk.36 million |
Tk.34 million |
|
Turnover |
Tk.358.6 million |
Tk.358 million |
Tk.356 million |
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Liability |
NIL |
NIL |
NIL |
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Assets |
Tk.47 million |
Tk.47 million |
Tk.45 million |
|
Authorized
Capital |
Tk.1 billion |
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Paid Up Capital |
Tk.609 million |
|
Each Share Value |
Tk.1000.00 |
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Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
131.2062 |
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U.S Dollar |
1 |
81.8300 |
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European Euro |
1 |
109.0630 |
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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 |
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Amount |
Based On |
|
US$ 25,000.00 |
90 days |
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Employees |
780 |
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Office Area (Sq.
Ft) |
2,100 sq.ft (own) |
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Factory Area
(Sq. Ft) |
40,000 sq.ft (own) |
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Warehouse Area
(Sq. Ft) |
6,000 sq.ft (own) |
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Range of
Products |
4 Polyester Yarn |
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Major
Clients |
4 Local Export Oriented
Garments Industries |
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Certifications |
NIL |
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Group Name |
4 Modern Group |
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Subsidiaries /
Affiliates |
4 Modern Hatchery
Limited 4 Mutual Shipping
Limited 4 Novegra Network
Solutions Limited 4 Modern Poly
Industries Limited 4 Modern
Properties Limited 4 Masud &
Brothers 4 Happy
Enterprise |
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Member |
4 Chittagong
Chamber of Commerce & Industries, Chittagong 4 Bangladesh Textile Manufacturers
Association |
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Business Scale |
Large |
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Business Trend |
Growing |
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Management
Capability |
Good |
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Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.56 |
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UK Pound |
1 |
Rs.81.05 |
|
Euro |
1 |
Rs.67.49 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.