MIRA INFORM REPORT

 

 

Report Date :

16.04.2013

 

 

 

Tel. No.:

8802 9558905

Fax No.:

8802 9558906

 

IDENTIFICATION DETAILS

 

Name :

POPULAR JUTE EXCHANGE LIMITED

 

 

Registered Office :

28, Dilkusha Commercial Area (8th Floor), Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

30.06.1978

 

 

Com. Reg. No.:

C-6247

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Exporter of Raw Jute

 

 

No. of Employees :

57

 

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

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

Popular Jute Exchange Limited

Address

Tolaram Road, Narayanganj

Country

Bangladesh

Telephone No

880-2-9559454, 9551853

Fax No

880-2-9550906,

E-Mail

popular@bdonline.com

Website

NIL

Established

June, 1978

Company Registration No

C-6247

Registration date

30th June, 1978

Legal Status

Private Limited

Issuing Authority

registrar of Joint Stock Companies & Firms, Dhaka

Business Type

Exporter

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

28, Dilkusha Commercial Area (8th Floor), Dhaka-1000, Bangladesh

Telephone No

880-2-9559454, 9551853,

Fax No

880-2-9550906

E-Mail

popular@bdonline.com

Website

NIL

Branch

Rajpur, Khulna, Bangladesh

Sales Center

Tolaram Road, Narayanganj

Factory

NIL

Factory Telephone No

NIL

Factory Fax No

NIL

Warehouse

Daulatpur, Khulna, Bangladesh

 

DIRECTORS

 

Name

Al-Hajj Giasuddin Ahmed

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mrs. Salma Ahmed

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Al-Hajj Giasuddin Ahmed

Share Percent

60%

Nationality

Bangladeshi

 

 

Name

Mrs. Salma Ahmed

Share Percent

40%

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Exporter

Items Dealing In

Raw Jute

Terms of Purchase

Local: Cash or Credit

Terms of Sale

Export: Against L/C

 

 

BANKERS

 

Name

Pubali Bank Limited

Branch

Local Office Branch,

Address

Dilkusha Commercial Area, Dhaka

SWIFT

N/A

 

 

Name

EXIM Bank Limited

Branch

Local Office Branch,

Address

Dilkusha Commercial Area, Dhaka

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2011

2010

 

2009

Investment

Tk.24 million

Tk.22 million

Tk.22 million

Turnover

Tk.378.9 million

Tk.377.4 million

Tk.377 million

Liability

Tk.3 million

Tk.4.3 million

Tk.4.9 million

Assets

Tk.25 million

Tk.20 million

Tk.20 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.10 million

Paid Up Capital

Tk.100,000.00

Each Share Value

Tk.100.00

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

119.6817

U.S Dollar

1

78.0550

European Euro

1

102.0257

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks

No Found

Debt

No Records Found

Charges

No Records Found

Performance Defaults

No Records Found

Adverse Press Coverage

No Records Found

Money Laundering

No Records Found

 

 

GENERAL INFORMATION

 

Employees

57

Office Area (Sq. Ft)

1,400 sq.ft (rented)

Factory Area (Sq. Ft)

NIL

Warehouse Area (Sq. Ft)

2,225  sq.ft.(rented)

Range of Products

4 Raw Jutes

4 Jute Bags

4 Hessians

4 Jute Yarns

4 Carpet Backing Cloth

Export Market

4 United Kingdom

4 China

4 Turkey

4 USA

4 India

Certifications

NIL

Group Name

4 Popular Group

Subsidiaries / Affiliates

4 Popular Jute Mills Limited

4 Popular Trading

Member

4 Dhaka Chamber of Commerce & Industries, Dhaka

4 Bangladesh Jute Exporter Association, Dhaka 

 

 

BUSINESS TREND & PROSPECT

 

Business Scale           

Fairly Large  

Business Trend

Growing

Management Capability

Good

Reputation

Good

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.63

UK Pound

1

Rs.83.70

Euro

1

Rs.71.42

 

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%)

 

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.