|
Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
CREATION (PVT.) LIMITED |
|
|
|
|
Registered Office : |
House # 10, Road #7, Sector -7, Uttara, Dhaka -1230 |
|
|
|
|
Country : |
Bangladesh |
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|
|
|
Date of Incorporation : |
05.11.1997 |
|
|
|
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Com. Reg. No.: |
C-33623 |
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|
|
|
Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Manufacturer & Exporter of Jute & Paper products |
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|
|
|
No. of Employees : |
210 employees |
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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
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 |
|
Name |
Creation (Pvt.) Limited |
|
Address |
1/69, Eastern
Plaza, Hatirpool, Dhaka-1205 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9662721 |
|
Fax No |
880-2-8651441 |
|
E-mail |
|
|
Website |
|
|
Established |
1997 |
|
Company Registration No |
C-33623 |
|
Registration date |
5th November 1997 |
|
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. |
|
Head Office |
House # 10, Road
#7, Sector -7, Uttara, Dhaka -1230 |
|
Telephone No |
880-2-8950771 |
|
Fax No |
880-2-8959982 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
1/69, Eastern
Plaza, Hatirpool, Dhaka-1205 |
|
Factory Telephone No |
880-2-9662721 |
|
Factory Fax No |
880-2-8651441 |
|
Warehouse |
1/69, Eastern
Plaza, Hatirpool, Dhaka-1205 |
|
Name |
Mr. Mr. Abdul Karim Bhuiyan |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Rashedul Karim Munna |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Mr. Abdul Karim Bhuiyan |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Rashedul Karim Munna |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer & Exporter |
|
Items Dealing In |
Jute & Paper products |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Export: Against L/C |
|
Name |
Janata Bank
Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.24 million |
Tk.24 million |
Tk.22 million |
|
Turnover |
Tk.212.6 million |
Tk.212 million |
Tk.210 million |
|
Liability |
Tk.3.5 million |
Tk.4 million |
Tk.6 million |
|
Assets |
Tk.30 million |
Tk.30 million |
Tk.28 million |
|
Authorized
Capital |
Tk.5 million |
|
Paid Up Capital |
Tk.250,000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
130.1352 |
|
U.S Dollar |
1 |
80.9500 |
|
European Euro |
1 |
104.7817 |
|
Dishonored
Checks |
No Found |
|
Debt |
No Found |
|
Litigation |
No Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
|
Employees |
210 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
25,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
4,000 sq.ft.(rented) |
|
Range of
Products |
4 Gardening Products: Different type
and size of Jute gardening bags, Jute Hessian
tape, Jute square sheet, Jute big roll, Jute felt, Jute
geo textile, Jute braids, Jute yarn and twine (natural, bleached and
colored), Basket hanger (shikka), Hammock 4 Jute Bag: Promotional bag, Shopping
and gift bag, Wine bottle bag, Christmas Gift
bag, Cotton bag, Gift packing bag, and customized designs and
requirement as per buyer’s requirement 4 Jute Gift Products & Packing
Accessories: Gift wrapping set in a PP, Decorative spool/ yarn, Thick
Jute rope and net, Cushion Cover, Curtain,
Table Mat, Napkin, Coasters, Table Running Mat, Fashion
Accessories 4 Industrial Jute Products: Jute fabric
(Hessian, Carpet Backing Cloth, Fine Jute Fabric,
Jute Blended Decorative Fabric, etc.), Jute
packaging bags for food grade, Raw Jute fiber, etc. 4 Other: We have also different type of
coconut fiber products like Coconut Fiber Spool,
Coir Pith, Geo Textile, Fiber and Felt. |
|
Export
Market |
4 Germany 4 Italy 4 Sweden 4 Denmark 4 Norway 4 Netherlands 4 Greece 4 Switzerland 4 Russia 4 Hungary 4 Japan 4 Saudi Arabia 4 UK 4 USA |
|
Awards |
4 The Best
Producer of Jute Diversified Products award (2005) 4 DCCI Business Award
(2005) 4 Arthakantha
Business Award (2003) |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
NIL |
|
Member |
4 Bangladesh
Jute Goods Exporters Association 4 Dhaka
Chamber of Commerce & Industries, Dhaka |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.23 |
|
UK Pound |
1 |
Rs.87.53 |
|
Euro |
1 |
Rs.70.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.