MIRA INFORM REPORT

 

 

Report Date :

22.08.2013

 

IDENTIFICATION DETAILS

 

Name :

ARK IMPEX LIMITED

 

 

Registered Office :

Plot# 3, Ward # 5, Block # B, 1 No., Anwar Jong Road, Ashulia, Savar

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

10.04.2000

 

 

Com. Reg. No.:

C-40014

 

 

Legal Form :

Private Company

 

 

Line of Business :

Not Available

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

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

 

 

 

Company summary

 

01. Name                                                                     : Ark Impex Limited

 

02. Address                                                                  : Plot# 3, Ward # 5, Block # B, 1 No., Anwar Jong

Road, Ashulia, Savar, Bangladesh

 

03. Established                                                             : 10.04.2000

 

04. Legal Form (General)                                             :  Private Co

 

05. Legal Form (Specific)                                             : LTD

 

06. Issuing Authority                                                    : Registrar of Joint Stock Companies & Firms

 

07. Incorporation No.                                                   : C-40014

 

08. Names of Shareholders                                          : Mr. Md.  Jewel Mahmud-7500 Shares

                                                                                    Ms. Parvin Sultana-7500 Shares

                                                                                    Mr. Eyasin Afrad-5000 Shares

                                                                                    Mr. Shake Shahin-5000 Shares

 

09. Names of Directors                                     : Mr. Eyasin Afrad-Managing Director

                                                                                    Mr. Md.  Jewel Mahmud- Director

                                                                                    Ms. Parvin Sultana- Director

                                                                                    Mr. Shake Shahin- Director

10. Authorized Capital                                                 : Tk.10 Million

 

11. Paid up Capital                                                      : Tk.25, 00,000

 

12. Each Share value                                                   : Tk. 100.00 each

 

13. General Comments                                               :  Our representative visited the subject company

Shareholders all addresses which they used when registered but not found.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.46

UK Pound

1

Rs.99.42

Euro

1

Rs.85.12

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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