MIRA INFORM REPORT

 

 

 

 

Report Date :

07.12.2012

 

IDENTIFICATION DETAILS

 

Name :

P N ENTERPRISE

 

 

Registered Office :

2, S M Maleh Road, Asah-Mashar Complex (Ground Floor), Tanabazar, Narayanganj

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

1993

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Importer & Supplier of Yarn & Chemicals

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Bangladesh - ECONOMIC OVERVIEW

 

The economy has grown 5-6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, and slow implementation of economic reforms. Bangladesh remains a poor, overpopulated, and inefficiently-governed nation. Although more than half of GDP is generated through the service sector, 45% of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Bangladesh's growth was resilient during the 2008-09 global financial crisis and recession. Garment exports, totaling $12.3 billion in FY09 and remittances from overseas Bangladeshis, totaling $11 billion in FY10, accounted for almost 12% of GDP.

 

Source : CIA

 

 

 

COMPANY DETAILS

 

Name:                                       P N Enterprise

 

Address:                       2, S M Maleh Road

                                           Asah-Mashar Complex (Ground Floor)

                                    Tanabazar

                                    Narayanganj

 

Country:                        Bangladesh      

 

Tel No. :                        880-2-7641287  

 

Fax No. :                       880-2-7641288

                                               

Established:                  1993

 

Incorporation No. :          N/A

 

Incorporation Date:         N/A

 

Legal Structure:             The subject is Proprietorship Concern

 

Business Type:              Importer & Supplier

 

Status:                          Satisfactory

 

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

 

Litigation:                      NIL

 

 

LOCATIONS

 

Head Office:                  2, S M Maleh Road

                                                 Asah-Mashar Complex (Ground Floor)

                                    Tanabazar

                                    Narayanganj

 

Tel No. :                        880-2-7641287  

 

Fax No. :                       880-2-7641288

 

E-Mail:                         NIL

 

Branch:                        NIL

 

Factory:                                    N/A

 

PROPRIETOR

 

Name:   Mr. Mohammad Aminul Islam

Designation: Proprietor

 

 

BUSINESS DETAILS

 

Line of Business:           Importer & Supplier

 

Items Dealing In:            Yarn & Chemicals

 

Terms of Sale:               1 Cash

                                           1 Credit

 

 

BANKERS

 

Name:                           Exim Bank Limited

Branch:                         Tanbazar Branch,

 

Address:                            Tanbazar

Narayangonj

 

The concern performs most of the business transactions with the above mentioned bank. No more details were provided.

 

 

FINANCIAL INFORMATION

 

 

 

          2008

2007

 

         2006

Capital Invested

Tk.6 million

Tk.5 million

Tk.5 million

Turnover

Tk.45 million

Tk.44.5 million

Tk.43.9 million

Liability

NIL

NIL

NIL

Fixed Assets

Tk.8 million

Tk.7 million

Tk.7 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

N/A

Paid Up Capital

:

N/A

Each Share Value

:

N/A

 

 

EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

Great Britain Pound

1

143.7238

U.S Dollar

1

  69.4023

European Euro

1

101.3730

Japanese Yen

1

    0.6176

Australian Dollar

1

  63.2055

 

 

 

 

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:         06

Executives-----------------01  

                                                Quality Control------------02    

                                                Office Staffs---------------03     

                                                 

Office Area:                               690 sq.ft (rented)

 

Warehouse Area:                       1,800 sq.ft.(rented)

 

Range of Items:                         1 Cotton Yarns

                                                1 Textile Chemicals 

 

Import From:*                            1 Indonesia

1 India

 

* The subject refused to reveal the names.

 

Name of the Group:                    NIL

 

Subsidiaries:                             NIL

                                               

Member:                                   1 Narayangonj Chamber of Commerce & Industries, 

                                                     Narayangonj

 

 

COMMENTS

 

Subject is a proprietorship concern engaged in importing and supplying of cotton yarns & textile chemicals in the local market. The quality of their product is good and is of international standard.

 

Proprietor is well conversant in this line of trade and is an experienced businessman. He is reported to be financially solvent and well backed by his banker.

 

The concern can be considered normal for business dealings at usual trade terms and conditions.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.46

UK Pound

1

Rs.87.63

Euro

1

Rs.71.11

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.