MIRA INFORM REPORT

Report Date :

10.08.2013

IDENTIFICATION DETAILS

Name :	AZMIR LEATHER
Registered Office :	116/E Hazaribagh, Dhaka-1209
Country :	Bangladesh
Year of Establishment :	1995
Legal Form :	Sole Proprietorships
Line of Business :	Manufacturer, Trader, Exporter and Importer of Crushed, Finished leather & Leather Goods
No. of Employees :	50 (In Office 4 + 46 In Factory)

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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

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

Correct company Name	:	AZMIR LEATHER
Registered office	:	116/E Hazaribagh, Dhaka-1209, Bangladesh
Tel No	:	88-02-8626925, 01911347088
Fax No	:	88-02-8626925
E-mail	:	azmirbd@yahoo.com
Website	:	Nil
Date/ Year of Incorporation	:	1995
Tax Identification d No.	:	193-105-1556
Legal Form (General)	:	Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify) ________________
Legal form (Specific)	:	LTD CORP INC CO others (please specify) ________________
Issuing Authority	:	Registrar of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE)

Year	Turnover/ Sales		Assets		Income
2011	Tk.38 Million		Tk.12 million		Tk.1.45 million
2012	Tk.40 million		Tk.13 million		Tk.1.60 million
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

Sales Trend – Analysis:
2002	2003	2004	2005	2006	2007	2008	2010	2011	2012
-	-	-	-	-	-	-

Information Parted By
Name	:	Mr. Saiful Islam
Designation	:	Manager( proprietor’s son)
Contract No	:	N/A

Locations Details
Business Address	:	116/E Hazaribagh, Dhaka-1209, Bangladesh
Tel No	:	88-02-8626925, 01911347088
E-mail	:	azmirbd@yahoo.com
Fax No	:	88-02-8626925
Website	:	Nil

Location :

: Owned

Ö

Rented

Leased

Area

650

Sq. ft.

Type of Office :	: Commercial Office Bldg.	Ö		Semi-commercial office Bldg.
	Retail shop		Industrial Park
	Business Center		Home Office
	Residential Bldg.

Factory-1:
Address	:	116/E Hazaribagh, Dhaka-1209, Bangladesh
Tel No	:	88-02-8626925, 01911347088
Fax No	:	88-02-8626925

Location :

Owned

Ö

Rented

Leased

Area

20,000

Sq. ft.

Factory-2:
Address	:	121/4, Hazaribagh, Dhaka-1209, Bangladesh
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Ö

Rented

Leased

Area

25,000

Sq. ft.

Employee:
No. of Employees	In Office	:	4	In Factory	:	46
	In Branch:	:		Total	:	50
Details:

Names of Proprietor		:		Mr. Md. ShahidUllah
Name	:		Mr. Saiful Islam
Nationality	:		Bangladeshi
Job Description	:		Manager( proprietor’s son)
Other details	:		N/A

Name	:	Mr. GolamMuttakim
Nationality	:	Bangladeshi
Job Description	:	Manager(Sales)
Other details	:	N/A

Nature of Activity :	Manufacturer	Ö	Trader	Ö	Dealer	Distributor
	Exporter	Ö	Importer	Ö	Others

Range of Products/Item Dealings In:
Products	:	Crushed, Finished leather & Leather Goods
Production Capacity	:	N/A
Last Year Production	:	N/A

Trading Terms:

Purchasing Terms:	L/C	Ö	Cash	Others
	Credit :		30 days	60 days	Ö	90 days	days

Selling Terms :	L/C	Ö	Cash	Ö	Others
	Credit :		30 days		60 days	Ö	90 days	days

Trade Reference & Related Parties	:	Overseas Clients		:	N/A	Local Clients	:	Local market
		Overseas Suppliers		:	N/A	Local Suppliers	:	Local Butcher Shops
Trade Markets	:	Exports		:	China, India, Europe, South Korea
		Imports		:	China, India
Brand Name	:		N/A
Certified	:		N/A
Auditors	:		N/A
Operation Status	:		Active
Member	:		Bangladesh Tannery Association

Capital Invested	:	Tk.10 Million
Assets	:	Tk.13 million

Sister Concerns	:	Nil
Subsidiary	:	Nil
Name of The Group	:	Nil

Bank Name	:	Janata Bank Ltd.
Bank Address	:	Local Office 1, Dilkusha C/A, Dhaka-1000 Tel: 88-02-9556242-44, 9553106, 9556241 Fax : 88-02-9563639

The subject company mad good reputation in local market.

Dishonored Checks	:	No Record Found
Debt		No Record Found
Litigation	:	Clear
Performance Defaults	:	No Record Found
Adverse Local Media Coverage/ Adverse Filling History	:	No Record Found

Our representative visited the subject company Head office which is situated at 116/E Hazaribagh, Dhaka-1209, Bangladesh. There are so many factories like the subject company.

The subject is considered in its line with fairly good financial conditions. W recommended that Credit should proceed with monitor in Small amount-periodical review.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.11
UK Pound	1	Rs.94.77
Euro	1	Rs.81.54

INFORMATION DETAILS

Report Prepared by :

NLM

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.