MIRA INFORM REPORT

 

 

Report Date :

03.04.2013

 

IDENTIFICATION DETAILS

 

Name :

COMILLA JUTE TRADERS

 

 

Registered Office :

Aman Bhaban (2nd Floor), 119, Banga BandhuRoad, Narayanganj

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

February 1986

 

 

Legal Form :

Proprietorship 

 

 

Line of Business :

Exporter of Raw Jute

 

 

No. of Employees :

48

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate 

 

 

Payment Behaviour :

Slow 

 

 

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

 

 

COMPANY DETAILS

 

Name

Comilla Jute Traders

Address

Aman Bhaban (2nd Floor), 119, Banga BandhuRoad, Narayanganj

Country

Bangladesh

Telephone No

880-2-7642329, 7646051, 7612329

Fax No

NIL

E-Mail

NIL

Website

NIL

Established

February 1986

Legal Status

Proprietorship 

Business Type

Exporter

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Aman Bhaban (2nd Floor), 119, Banga BandhuRoad, Narayanganj

Telephone No

880-2-7642329, 7646051, 7612329

Fax No

NIL

E-Mail

NIL

Website

NIL

Branch

NIL

Factory

N/A

Factory Tel No

NIL

Factory Fax No

NIL

Warehouse

Aman Bhaban (2nd Floor), 119, Banga BandhuRoad, Narayanganj

 

 

PROPRIETOR

 

Name

Mr. M. Shahid Ullah Sarker

Designation

Proprietor

Nationality

Bangladeshi

 

BUSINESS DETAILS

 

Line of Business

Exporter

Items Dealing In

Raw Jute

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Export: Against L/C

 

 

BANKERS

 

Name

Mercantile Bank Limited

Branch

B. B. Road Branch

Address

Narayanganj

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2011

2010

 

2009

Investment

Tk.16 million

Tk.15 million

Tk.15 million

Turnover

Tk.132 million

Tk.130 million

Tk.127.8 million

Liability

Tk.4.4 million

Tk.5 million

Tk.5.7 million

Assets

Tk.25 million

Tk.22 million

Tk.22 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

N/A 

Paid Up Capital

N/A

Each Share Value

N/A

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

119.0006

U.S Dollar

1

78.1100

European Euro

1

100.3714

 

 

ADVERSE DATA MONITORING

 

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

 

 

GENERAL INFORMATION

 

Employees

48

Office Area (Sq. Ft)

1,250 sq.ft (rented)

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

3,900 sq.ft.(rented)

Range of Products

4 Raw Jutes

Export Market

4 Pakistan

4 China

4 India

4 Brazil

4 Nepal

Certifications

NIL

Group Name

NIL

Subsidiaries / Affiliates

NIL 

Member

4 Narayanganj Chamber of Commerce & Industries

4 Bangladesh Jute Exporters Association

 

 

BUSINESS TREND & PROSPECT

 

Business Scale           

Medium 

Business Trend

Growing

Management Capability

Good

Reputation

Good

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.33

UK Pound

1

Rs.82.72

Euro

1

Rs.69.81

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

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