MIRA INFORM REPORT
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Report Date : |
21.08.2013 |
IDENTIFICATION DETAILS
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Name : |
DEEN PAPER CONVERTING AND PACKAGING LTD |
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Registered Office : |
House # C.E.S (F), 11-B (2nd
floor), Road # 130, Gulshan-1, Dhaka-1212 |
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Country : |
Bangladesh |
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Date of Incorporation : |
22.11.1992 |
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Com. Reg. No.: |
C-23089 |
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Legal Form : |
Private Co |
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Line of Business : |
Manufacturer, Importer and Distributor of Garments Accessories like Corrugated Carton,
Back Board, Sticker, Hand Tag. |
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No. of Employees : |
90 (In Office 8 + 82 In Factory) |
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 : |
Small company |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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.
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Source : CIA |
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
DEEN PAPER CONVERTING AND PACKAGING LTD |
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Registered office |
: |
House # C.E.S (F), 11-B (2nd
floor), Road # 130, Gulshan-1, Dhaka-1212, Bangladesh |
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Tel No |
: |
88-02-8861319, 8856481, 8856051 |
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Fax No |
: |
88-02-8850303 |
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E-mail |
: |
deen@citech-bd.com |
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Website |
: |
- |
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Date/ Year of Incorporation |
: |
22.11.1992 |
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Registered No. |
: |
C-23089 |
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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) |
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Year |
Turnover/ Sales |
Assets |
Income |
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2011 |
Tk.39 million |
Tk.9 Million |
Tk.0.75 million |
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2012 |
Tk.40 million |
Tk.10 million |
Tk.0.85 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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Information Parted By |
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Name |
: |
Mr.
Anowarul Islam |
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Designation |
: |
Ass.
Manager Commercial |
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Contract No |
: |
88-01817
144960 |
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Locations Details |
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Business Address |
: |
House # C.E.S (F), 11-B (2nd
floor), Road # 130, Gulshan-1, Dhaka-1212, Bangladesh |
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Tel No |
: |
88-02-8861319, 8856481, 8856051 |
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E-mail |
: |
deen@citech-bd.com |
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Fax No |
: |
88-02-8850303 |
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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 |
1200 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
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Semi-commercial
office Bldg. |
Ö |
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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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Factory: |
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Address |
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Painadi, Mizmizi, Siddirgonj, Narayangonj, Bangladesh |
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Tel No |
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- |
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Fax No |
: |
- |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
25000 |
Sq. ft. |
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Showroom: |
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Address |
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66, GulshanAvnue, Gulshan-1,
Dhaka-1212, Bangladesh |
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Tel No |
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88-02-8815269, 8853870 |
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Fax No |
: |
88-02-8850303 |
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Location : |
Owned |
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Rented |
Ö |
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Leased |
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Area |
850 |
Sq. ft. |
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Showroom: |
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Address |
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ShaSha Bari, house#56,
Road#3/A, Satmasjid Road, Dhanmondi, Dhaka-1205, Bangladesh |
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Tel No |
: |
88-02-9667844 |
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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 |
500 |
Sq. ft. |
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Employee: |
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No. of Employees |
In Office |
: |
8 |
In Factory |
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82 |
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In Branch: |
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Total
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90 |
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Details: |
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Names
of Shareholders |
No. of
Share |
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Mr. GaniAhammad |
68950 |
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Ms. ShirinaAkter |
9850 |
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Mr. FerozAhamed |
9850 |
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Ms. RokshanaAkther |
4925 |
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Name |
Designation |
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Mr. GaniAhammad |
Managing Director |
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Ms. ShirinaAkter |
Director |
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Mr. FerozAhamed |
Director |
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Ms. RokshanaAkther |
Director |
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Name |
: |
Mr.
Anowarul Islam |
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Email address |
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_ |
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Nationality |
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Bangladeshi |
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Job Description |
: |
Ass.
Manager Commercial |
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Other details |
: |
88-01817
144960 |
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Nature of Activity
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Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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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 |
: |
Garments Accessories like
Corrugated Carton, back Board, Sticker, Hand Tag Etc. |
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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 |
Ö |
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 |
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Trade
Reference & Related Parties |
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Overseas Clients |
: |
N/A |
Local Clients |
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Local Garments |
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Overseas Suppliers |
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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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Authorized
Capital |
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Tk.30 million |
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Paid-up
Capital |
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Tk.9357500 |
No. of Shares |
: |
93575 |
Share Value |
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Tk.100.00Each |
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Main
Assets |
: |
Tk.10 Million |
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The subject company don’t submit
update financial figure to local registry office |
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Sister Concerns |
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Hi-Fashion Vertical Blind company Hi-Fashion Gallery limited Fridays Fast Food limited G.A. Trading House |
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Subsidiary |
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N/A |
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Name of The Group |
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Deen Group |
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Bank Name |
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Al-ArafahIslami Bank Limited |
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Bank Address |
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Motijheel
Corporate Branch 125, Motijheel C/A Dhaka-1000 Fax: 88-02-9556597 |
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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 |
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No Record Found |
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Our
representative visited the subject company office which is residential area. |
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Based
on financial statement, the subject company financial performance appears to
be Average.
Hence, we recommended that Credit can proceed normally in Moderate amount |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian
Rupees |
|
US Dollar |
1 |
Rs.61.81 |
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UK Pound |
1 |
Rs.96.56 |
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Euro |
1 |
Rs.82.45 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
|
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 |
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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.