MIRA INFORM REPORT

 

 

Report Date :

16.02.2012

 

IDENTIFICATION DETAILS

 

Name :

STAR JUTE MILLS LIMITED

 

 

Registered Office :

Chandnimahal, Town: Khalishpur, Khulna

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

1958

 

 

Com. Reg. No.:

KHC-1031

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Manufacturer & Exporter of Jute Products

 

 

No. of Employees :

300

 

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

 

Maximum Credit Limit :

US$ 10,000.00

Status :

Satisfactory

Payment Behaviour :

No complaints

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 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

Star Jute Mills Limited

Address

Chandnimahal, Town: Khalishpur, Khulna

Country

Bangladesh

Telephone No

880-41-762719, 763489

Fax No

880-41- 762815

E-Mail

NIL      

Website

NIL      

Established

1958

Company Registration No

KHC-1031

Registration date

23rd September 2011

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Khulna

Business Type

Manufacturer & Exporter

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Chandnimahal, Town: Khalishpur, Khulna

Telephone No

880-41-762719, 763489

Fax No

880-41- 762815

E-Mail

NIL      

Website

NIL      

Sales and Export office

Hadiz Uddin Road, Charer Hat, Town: Khalishpur, Khulna Telephone: 880-41-761746, 762237, 761825
Fax: 880-41-761802

Factory

Chandnimahal, Town: Khalishpur, Khulna

Factory Telephone No

880-41-762719, 763489

Factory Fax No

880-41- 762815

Warehouse

Chandnimahal, Town: Khalishpur, Khulna

 

DIRECTORS

 

Name

Mr. T.D. Mitra

Designation

Chairman

Nationality

Bangladeshi

 

 

Name

Mr. Mohammad Arif Khan Joy

Designation

Director 

Nationality

Bangladeshi

 

 

Name

Engr. Khandker Tariqul Islam

Designation

Director 

Nationality

Bangladeshi

 

 

Name

Mr. Mohammad Shamsul Haque

Designation

Director 

Nationality

Bangladeshi

 

 

Name

Mr. A. E. Muhammed Ali Chowdhury

Designation

Director 

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Bangladesh Jute Mills Corporation

Share Percent

100%

Country

Bangladesh

 

 

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

Export: Against L/C

 

 

BANKERS

 

Name

Sonali Bank Ltd

Branch

Khan-A-Sabur Road Branch

Address

Khan-A-Sabur Road, Khulna

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

The subject refused to reveal any financial information. As per local Tax & Corporate law a Private Ltd Company is not bound to disclose its financial information.

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.10 million 

Paid Up Capital

Tk.1 million

Each Share Value

Tk.100.00

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

130.8212

U.S Dollar

1

83.4000

European Euro

1

109.4208

 

Source: Bangladesh Bank as on 14th February 2012

 

 

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$ 10,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

300

Office Area (Sq. Ft)

1,700 sq.ft (rented)

Factory Area (Sq. Ft)

28,000 Sq.Ft. (rented)

Warehouse Area (Sq. Ft)

5,500  sq.ft.(rented)

Range of Products

4 Hessian

4 Sacking

4 Jute Carpet Backing Cloths

Export Market  

4 USA

4 Turkey

4 Russia

4 China

Certifications

NIL

Group Name

NIL

Subsidiaries / Affiliates

4 Bangladesh Jute Mills Ltd.

4 Karim Jute Mills Ltd.

4 Latif Bawany Jute Mills Ltd.

4 U.M.C Jute Mills LTD.

4 Qaumi Jute Mills Ltd.

4 Rajshahi Jute Mills Ltd.

4 Aleem Jute Mills Ltd.

4 Carpeting Jute Mills Ltd.

4 Crescent Jute Mills Ltd.

4 Eastern Jute Mills Ltd.

4 Jessore Jute Industries Ltd.

4 Peoples Jute Mills Ltd.

4 Platinum Jubilee Jute Mills Ltd.

4 Amin Jute Mills Ltd.

4Amin Old Field Ltd.

4 Gul Ahmed Jute Mills Ltd.

4 Hafiz Jute Mills Ltd.

4 Karnafuli Jute Mills Ltd.

4 Development of Decorative Fabric

4 M.M. Jute Mills Ltd.

4 R.R. Jute Mills Ltd.

4 Bagdad-Dhaka Carpet Factory Ltd.

4 Furat Karnafuli Carpet Factory

4Galfra Habib Ltd.

4 Mills Furnishing Ltd.

4 Jute-Fibre Glass Industry

Member

4 Bangladesh Jute Spinners Association, Khulna

4 Khulna Chamber of Commerce & Industries, Khulna

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.25

UK Pound

1

Rs.77.45

Euro

1

Rs.64.89

 

 

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.