MIRA INFORM REPORT
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Report Date : |
21.08.2013 |
IDENTIFICATION DETAILS
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Name : |
RADIANCE
PACKAGING AND ACCESSORIES LTD. |
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Registered Office : |
House#521, Road#10, DOHS Baridhara,
Dhaka-1208 |
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Country : |
Bangladesh |
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Date of Incorporation : |
02.04.2008 |
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Com. Reg. No.: |
C-70640 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject engaged in producing & selling Poly bag, hanger, and other
packing material and Accessories. |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
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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.
Source
: CIA
IDENTIFICATION DETAILS
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Correct company Name |
: |
Radiance
Packaging and Accessories Ltd. |
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Registered office |
: |
House#521, Road#10, DOHS Baridhara, Dhaka-1208,
Bangladesh |
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Tel No |
: |
88-02-8412151, 8416113, 8414697, 8410483,
8412151 |
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Fax No |
: |
88-02-8415546 |
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E-mail |
: |
info@radiancegroup-bd.com |
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Website |
: |
www.radiancegroup-bd.com |
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Date/ Year of Incorporation |
: |
02.04.2008 |
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Registered No. |
: |
C-70640 |
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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.88 Million |
Tk.135 Million |
Tk.1.75 Million |
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2012 |
Tk.89 million |
Tk.135.6 Million |
Tk.2.00 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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FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Assad |
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Designation |
: |
Commercial
Manager |
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Contract No |
: |
88-01811413827 |
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Locations Details |
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Business Address |
: |
House#521, Road#10, DOHS Baridhara, Dhaka-1208, Bangladesh |
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Tel No |
: |
88-02-8412151, 8416113, 8414697, 8410483, 8412151 |
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E-mail |
: |
info@radiancegroup-bd.com |
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Fax No |
: |
88-02-8415546 |
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Website |
: |
www.radiancegroup-bd.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
3500 |
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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South Bagber, Kashimpur, Gazipur, Bangladesh |
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Tel No |
: |
- |
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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 |
45000 |
Sq. ft. |
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Employee: |
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No. of Employees |
In Office |
: |
8 |
In Factory |
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112 |
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In Branch: |
: |
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Total |
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120 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of
Shareholders |
No. of Share |
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Md. Shahidul Islam( Shahd) |
1000 |
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Mrs. Kamrun Nahar Islam |
1000 |
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Radial International Ltd. |
98000 |
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Salman Farsy Sunny |
1000 |
DIRECTORS
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Name |
Designation |
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Md. Shahidul Islam( Shahd) |
Managing Director |
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Mrs. Kamrun Nahar Islam |
Director |
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Salman Farsy Sunny |
Director |
MANAGEMENT
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Name |
: |
Mr. Assad |
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Email address |
: |
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Nationality |
: |
Banmgladshi |
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Job Description |
: |
Commercial Manager |
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Other details |
: |
88-01811413827 |
BUSINESS OPERATIONS
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Nature of Activity : |
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 |
: |
Poly bag, hanger, and other packing material and Accessories
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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 |
DETAILED DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local garments |
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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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Authorized
Capital |
: |
Tk.10 Crore |
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Paid-up Capital |
: |
Tk.10100000 |
No.
of Shares |
: |
101000 |
Share
Value |
: |
Tk.100.00Each |
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Main Assets |
: |
Tk.135.6 Million |
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FINANCIAL STATEMENT- DETAILED
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The subject company don’t submit update
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Sister Concerns |
: |
Radial International Ltd Sirajgonj Check Industries Ltd Simanta Textile Ltd Radiance Computer Ltd. Suchi Fashion Ltd Array International Ltd D.S. Fashion Ltd Cherry Knit Wear Ltd Salman Spinning Mills Ltd Radiance Entertainment Ltd Radiance Jeans Ltd Radiance Fashion Ltd |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Radiance Group |
BANKING
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Bank Name
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: |
Premier Bank Ltd. |
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Bank Address |
: |
Gulshan Branch, 140, Gulshan Avenue, Gulshan Circle 2,
Dhaka-1212 S.W.I.F.T.: PRMRBDDHGUL |
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REPUTATION
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The subject
company product has good reputation in local market. |
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ADVERSE DATA MONITORING
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Dishonored Checks |
:
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No Record Found |
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Debt |
: |
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 |
SITE VISIT COMMENTARY
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Our representative visited the subject company registered address
which is situated at House#521, Road#10, DOHS Baridhara, Dhaka-1208,
Bangladesh. It is situated at fully residential area. |
GENERAL COMMENTS
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|
Established in 2008, the subject is mainly engaged in producing &
selling Poly bag, hanger, and other packing material and Accessories. Having
been in operation for several years, the subject maintains accepted business
volume. Reputation in the market, as well as its financial condition, we
recommended that Credit can
proceed promptly in Fairly large
amount |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.73 |
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|
1 |
Rs.99.78 |
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Euro |
1 |
Rs.85.07 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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.