MIRA
INFORM REPORT
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Report Date : |
06.08.2013 |
IDENTIFICATION DETAILS
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Name : |
A.K. BHUIYAN & CO
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Registered Office : |
33/2 Shahid Nazrul Islam Road (Hatkhola)
Tikatoly,Dhaka-1203 |
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Country : |
Bangladesh |
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Date of Incorporation : |
1993 |
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Legal Form : |
Sole Proprietorships |
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Line of Business : |
Subject engaged in importer & distributors of Brandlab Net Scientific, Surgical, Pharmaceuticals, Medicals Instrument, Chemicals & Glass ware. |
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No. of Employees : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Bangladesh |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BANGLADESH - ECONOMIC OVERVIEW
In real terms Bangladesh's economy has grown 5.8% 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 name
A.K. BHUIYAN & CO
IDENTIFICATION DETAILS
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||
|
Correct company Name |
: |
A.K.
Bhuiyan & Co |
|
Registered office |
: |
33/2 Shahid Nazrul Islam Road (Hatkhola)
Tikatoly,Dhaka-1203, Bangladesh |
|
Tel No |
: |
88-02-7122211, 01819 281414, 0171 355642 |
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Fax No |
: |
- |
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E-mail |
: |
bhuiyan@dhaka.net |
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Website |
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- |
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Date/ Year of Incorporation |
: |
1993 |
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Registered No. |
: |
- |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
: |
Registrar of
Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income |
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2011 |
Tk.15 Million |
Tk.8 million |
Tk.1.25 Million |
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2012 |
Tk.17 Million |
Tk.9Million |
Tk.1.40 million |
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Exchange Rate |
USD1-Tk. 77.8200 EUR 1- Tk. 100.2711 GBP 1- Tk.118.5354 AUD 1 - Tk.82.8563 JPY 1 - Tk.0.9286 |
CAD 1 - Tk.80.1887 SEK 1 - Tk.12.2870 SGD 1 - Tk.65.3045 CNH 1 - Tk.12.8399 |
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Sales Trend – Analysis: |
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2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
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- |
- |
- |
- |
- |
- |
- |
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INQUIRER SPECIFIED CREDIT –TRADE FINANCE |
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Recommended Credit Range |
: |
USD 25,000 based on 90 days |
FULLCHECK REPORT DETAILS
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Information
Parted By |
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Name |
: |
Mr. Abul Ashraf
Ekramul Kadir |
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Designation |
: |
proprietor |
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Contract No |
: |
0171 355642 |
Locations Details
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Business Address |
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33/2 Shahid Nazrul Islam Road (Hatkhola)
Tikatoly,Dhaka-1203, Bangladesh |
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Tel No |
: |
88-02-7122211, 01819 281414, 0171 355642 |
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E-mail |
: |
bhuiyan@dhaka.net |
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Fax No |
: |
- |
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Website |
: |
- |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
450 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
Ö |
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Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Warehouse: |
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Address |
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33/2 Shahid Nazrul Islam Road (Hatkhola)
Tikatoly,Dhaka-1203, Bangladesh |
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Tel No |
: |
88-02-7122211, 01819 281414, 0171 355642 |
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Fax No |
: |
- |
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Location : |
Owned |
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Rented |
Ö |
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Leased |
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Area |
1200 |
Sq. ft. |
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Employee: |
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No. of
Employees |
In Office |
: |
7 |
In Showroom |
: |
5 |
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In Branch: |
: |
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Total |
: |
12 |
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Details: |
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PROPRIETOR/PARTNERS
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Names of
Proprietor |
: |
Mr. Abul Ashraf
Ekramul Kadir |
BUSINESS OPERATIONS
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Nature of Activity : |
Manufacturer |
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Trader |
Ö |
Dealer |
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Distributor |
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Exporter |
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Importer |
Ö |
Others |
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Range of
Products/Item Dealings In: |
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Products |
: |
Brandlab Net Scientific, Surgical, Pharmaceuticals, Medicals Instrument, Chemicals & Glass ware |
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Production Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
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Cash |
Ö |
Others |
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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|
days |
DETAILED DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local shops |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
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N/A |
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Trade Markets |
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Exports |
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N/A |
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Imports |
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China, India |
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Brand Name |
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N/A |
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Certified |
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N/A |
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Auditors |
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N/A |
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Operation Status |
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Active |
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Member |
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N/A |
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CAPITAL STRUCTURE
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Capital Invested |
: |
Tk.10 million |
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Assets |
: |
Tk.9 Million |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
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Sister Concerns |
: |
Nil |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
Nil |
BANKING
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Bank Name
|
: |
Dhaka Bank Ltd. |
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Bank Address |
: |
Foreign Exchange Branch, Biman Bhaban (1st floor), 100 Motijheel
C/A, Dhaka-1000 Tel: +8802 9571006-10 |
ADVERSE DATA MONITORING
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Dishonored Checks |
:
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No Record Found |
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Debt |
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No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE VISIT COMMENTARY
|
Our
representative visited the subject company which is area is scientific market
area. |
GENERAL COMMENTS
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The subject company is a proprietorship company which engaged in
importer & distributors of Brandlab Net Scientific, Surgical,
Pharmaceuticals, Medicals Instrument, Chemicals & Glass ware. Based on the financial statements, SC’s financial performance appears
to be Below Average. SC has been in
its line of business about 19 years. As well as its financial condition, we
recommend that Credit should be extended under guarantee with C.O.D to small
amount. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.82 |
|
|
1 |
Rs.92.96 |
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Euro |
1 |
Rs.80.73 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.