MIRA INFORM REPORT

Report Date :

19.08.2013

IDENTIFICATION DETAILS

Name :	NAVAL STORES SUB DEPOT
Registered Office :	BNS Haji Mohsin, Dhaka Cantonment, Dhaka-1206,
Country :	Bangladesh
Year of Establishment :	1971
Legal Form :	State-owned Co
Line of Business :	Invite Tender & purchase (All kind of items for Navy)
No. of Employees :	250

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
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	:	NAVAL STORES SUB DEPOT
Registered office	:	BNS Haji Mohsin, Dhaka Cantonment, Dhaka-1206, Bangladesh
Tel No	:	88-02- 8754041-9, 8816870
Fax No	:	88-02-8713759
E-mail	:	nssddhk@bangladeshnavy.org nsdctg@bangladeshnavy.org
Website	:	www.bangladeshnavy.org
Date/ Year of Incorporation	:	1971
Registered No.	:	N/A
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 Government of Bangladesh Chief Controller of Import & Export (CCIE)

Year	Turnover/ Sales		Assets		Income
2011	Tk.450 Million(Appx)		Tk.100 Crore (Appx)		N/A
2012	Tk.480 million(Appx)		Tk.100 Crore (Appx)		N/A
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

Information Parted By
Name	:	S M ZamilHossain(Commander)
Designation	:	Office in Charge
Contract No	:	-

Locations Details
Business Address	:	BNS Haji Mohsin, Dhaka Cantonment, Dhaka-1206, Bangladesh
Tel No	:	88-02- 8754041-9, 8816870
E-mail	:	nssddhk@bangladeshnavy.org nsdctg@bangladeshnavy.org
Fax No	:	88-02-8713759
Website	:	www.bangladeshnavy.org

Location :

: Owned

Ö

Rented

Leased

Area

10,000

Sq. ft.

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

Branches:
Address	:	New Mooring,Chittagong-4218,Bangladesh
Tel No	:	88-031-741182, 740391-9
Fax No	:	-

Location :

Owned

Ö

Rented

Leased

Area

5000

Sq. ft.

Employee:
No. of Employees	In Office	:	In Factory	:
	In Branch:	:	Total	:	250
Details:

Names of Proprietor	:	S M ZamilHossain(Commander)

Nature of Activity :	Manufacturer	Trader	Dealer		Distributor
	Exporter	Importer	Invite Tender & purchase	Ö

Range of Products/Item Dealings In:
Products	:	All kind of items for Navy
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

Trade Reference & Related Parties	:	Overseas Clients		:	N/A	Local Clients	:	N/A
		Overseas Suppliers		:	N/A	Local Suppliers	:	N/A
Trade Markets	:	Exports		:	N/A
		Imports		:	China, India, Germany, USA
Brand Name	:		N/A
Certified	:		N/A
Auditors	:		N/A
Operation Status	:		Active
Member	:		N/A

Capital Invested	:	Tk.200 Crore
Assets	:	Tk.100Crore

Balance Sheet :
	Currency	: USD
	Denomination	: 1
	Financial Year Ending	: March
Financial Highlights	2011 Annual	2012 Annual
Total Reserves
Assets
Non-Current Assets
Property, Plant & Equipment
Investment
Current Assets:
Inventories
Accounts Receivables
Advance, Deposit & Prepayments
Cash and cash Equivalents
Total
EQUTIY AND LIABILITIES
Share Holders” Equity:
Share Capital
Reserves
Retained Earnings
Non- Current Liabilities
Liabilities For Other Finance
Current Liabilities :
Short Term Borrowings
Trade Creditors
Accrued Expenses
Total
Net Asset Value (NAV) Per Share of Tk. 10 Each
Number of Shares Used to Compute NAV
Contingent Liabilities

Income Statement:
	Currency	: USD
	Denomination	: 1
	Financial Year Ending	: March
Financial Highlights	2011 Annual	2012 Annual
Revenue
Cost of Goods Sold
Gross Profit
Operating Expenses
Administrative Expenses
Selling & Distribution Expenses
Profit from Operation
Financial Expenses
Non Operative Income
Net Profit From Operation
Workers Profit Participation Fund
Net Profit Before Tax
Income Tax
Net profit After Tax
Add: Other Comprehensive Income
Fair Value Adjustment of Marketable Securities
Total Comprehensive Income
Earnings Per Share (EPS) based On Net Profit
Number of Shares of Used To Compute EPS

Sister Concerns	:
Subsidiary	:
Name of The Group	:

Bank Name	:
Bank Address	:
Bank Name	:
Bank Address	:

------

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

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FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.81
UK Pound	1	Rs.96.56
Euro	1	Rs.82.45

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.