MIRA
INFORM REPORT
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Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
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Name : |
B.P.
ACCESSORIES (PVT.) LTD. |
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Registered Office : |
11/1, Joynag Road (1st floor), Lalbagh, Dhaka-1211 |
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Country : |
Bangladesh |
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Date of Incorporation : |
22.04.1998 |
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Com. Reg. No.: |
C-35265 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject engaged in Manufacturer & seller of All Kinds of Garments Accessories |
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No. of Employees : |
47 |
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
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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.
Source
: CIA
IDENTIFICATION DETAILS
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Correct company Name |
: |
B.P.
Accessories (Pvt.) Ltd. |
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Registered office |
: |
11/1, Joynag Road (1st floor), Lalbagh, Dhaka-1211, Bangladesh |
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Tel No |
: |
880-2-9677372,
8621646, 8653605, 01715689759 |
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Fax No |
: |
880-2-9677372 |
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E-mail |
: |
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Website |
: |
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Date/ Year of Incorporation |
: |
22.04.1998 |
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Registered No. |
: |
C-35265 |
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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.35 million |
Tk.8 Million |
Tk.0.55 million |
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2012 |
Tk.37 million |
Tk.9 million |
Tk.0.60 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. Mohammd Zynal
abdin Jweel |
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Designation |
: |
Commercial
Manager |
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Contract No |
: |
- |
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Locations Details |
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Business Address |
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11/1, Joynag Road (1st floor), Lalbagh, Dhaka-1211, Bangladesh |
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Tel No |
: |
880-2-9677372,
8621646, 8653605, 01715689759 |
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E-mail |
: |
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Fax No |
: |
880-2-9677372 |
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Website |
: |
ww.flgalbd.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. |
Ö |
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Semi-commercial
office Bldg. |
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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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11/1, Joynag Road (1st floor), Lalbagh, Dhaka-1211, Bangladesh |
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Tel No |
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- |
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Fax No |
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- |
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Owned |
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Rented |
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Leased |
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Area |
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Sq. ft. |
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Branches: |
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Address |
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Tel No |
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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 |
20000 |
Sq. ft. |
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Employee: |
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No. of Employees |
In Office |
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5 |
In Factory |
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42 |
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In Branch: |
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Total |
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47 |
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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. Farid Mia |
200 |
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Mr. Abdul Kae Zilani |
400 |
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Md. Arman |
650 |
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Md. Bashir Mia |
500 |
DIRECTORS
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Name |
Designation |
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Md. Bashir Mia |
Managing Director |
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Mr. Abdul Kae Zilani |
Director |
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Md. Arman |
Director |
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Md. Farid Mia |
Director |
MANAGEMENT
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Name |
: |
Mr. Mohammd Zynal
abdin Jweel |
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Email address |
: |
_ |
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Nationality |
: |
Bangladesh |
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Job Description |
: |
Commercial
Manager |
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Other details |
: |
- |
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 |
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All Kinds of Garments 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 |
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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 |
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Overseas Clients |
: |
N/A |
Local Clients |
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Local market |
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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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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk.10 Million |
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Paid-up Capital |
: |
Tk.175000 |
No.
of Shares |
: |
1750 |
Share Value |
: |
Tk.100.00Each |
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Main Assets |
: |
Tk.9 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 |
: |
F.L. Packaging Industries Ltd. |
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Subsidiary |
: |
N/A |
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Name of The Group |
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N/A |
BANKING
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Bank Name
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: |
Dutch Bangla Bank ltd. |
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Bank Address |
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Imamgonj Branch 41 Imamgonj, Dhaka Roy Iswar Chandra Shil Bahadur S., Dhaka, Bangladesh |
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Bank Name
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Uttara Bank Limited |
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Bank Address |
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Shantinagar Branch Dhaka, Bangladesh |
REPUTATION
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The subject
company product has good reputation in local market. |
ADVERSE DATA MONITORING
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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 |
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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 office which is residential area. |
GENERAL COMMENTS
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Established
in 1998, Subject is mainly engaged in Manufacturer & seller of All Kinds of
Garments Accessories. Having been in operation for several years, Subject
maintains acceptable business volume.Its customers are mostly local clients. Based on the financial statements, SC’s financial performance appears
to be Above
Average. SC has been in its line of
business for about 14 years. Talking into account its long-standing history,
reputation in the market, as well as its financial condition, we recommend
that Credit can
proceed normally in Moderate amount. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.46 |
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1 |
Rs.99.42 |
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Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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.