|
Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
JALAL AHMED SPINNING MILLS LTD. |
|
|
|
|
Registered Office : |
Eunoos Center (Level-19), 52-53 Dilkusha C/A, Dhaka-1000 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
23.04.2000 |
|
|
|
|
Com. Reg. No.: |
C-40109 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer & exporter of Cotton Yarns |
|
|
|
|
No. of Employees : |
1550 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
EXECUTIVE SUMMARY
|
||
|
|
||
|
IDENTIFICATION DETAILS |
||
|
|
||
|
Correct
company Name |
: |
|
|
Head
Office |
: |
Eunoos Center (Level-19), 52-53 Dilkusha C/A,
Dhaka-1000, Bangladesh.
|
|
Tel
No |
: |
88-02-9563750-1, 9561443, 9563284 |
|
Fax
No |
: |
88-02-9563749 |
|
E-mail |
: |
jasml@jalalahmed.com,mshah@bol-online.com headoffice@jalalahmed.com |
|
Website |
: |
|
|
Date/ Year of Incorporation |
: |
23-Apr-2000 |
|
Incorporation No. |
: |
C-40109 |
|
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 Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
|
|||
|
Year |
Turnover/ Sales |
Assets |
Income |
|
(Dec’11~
Dec’12) |
Tk. 2,592.3 Million |
Tk. 78.5 Million |
Tk. 6.2 Million |
|
(Dec’12~
Dec’13) |
Tk. 3,562.5 Million |
Tk. 80 Million |
Tk. 5.5 Million |
|
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 |
: |
Mr. Md. Saiful
Islam. |
|
Designation |
: |
Commercial
Manager. |
|
Contract No |
: |
N/A |
Locations
Details
|
||
|
|
||
|
Operating
Address |
: |
Eunoos Center (Level-19), 52-53 Dilkusha C/A,
Dhaka-1000, Bangladesh.
|
|
Tel
No |
: |
88-02-9563750-1, 9561443, 9563284 |
|
E-mail |
: |
jasml@jalalahmed.com,mshah@bol-online.com
headoffice@jalalahmed.com |
|
Fax No |
: |
88-02-9563749 |
|
Website |
: |
N/A |
|
Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
3200 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential
Bldg. |
|
|
|
|
|
|
|
Factory: |
|
|
|
|
|
|
|
Address |
: |
Post Office
Road, Lalpur, Fatullah, Narayngonj, Bangladesh. |
|
Tel
No |
: |
88-02-7670291-95, 7670281-85 |
|
Fax
No |
: |
N/A |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
685.5 |
Decimals |
|
Branches: |
|
|
|
|
|
|
|
Address |
: |
N/A |
|
Tel
No |
: |
N/A |
|
Fax
No |
: |
N/A |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No.
of Employees |
In Office |
: |
98 |
In Factory |
: |
1452 |
||
|
In Branch: |
: |
- |
Total
|
: |
1550 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Mr. Salim Ahmed |
825000 |
|
Mr. Safiuddin Ahmad |
787500 |
|
Mr. Md. Shah Alam |
787500 |
|
Mr. Md. Shahid Alam |
787500 |
|
Mr. Md. Ashraful Alam |
787500 |
|
Mr. Jobayer Ahmed |
25000 |
|
Mr. Jahir Ahmed Shah |
20000 |
|
Mr. Md. Shajahan |
980000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Salim Ahmed |
Chairman |
|
Mr. Safiuddin Ahmad |
Managing Director |
|
Mr. Md. Shah Alam |
Director |
|
Mr. Md. Shahid Alam |
Director |
|
Mr. Md. Ashraful Alam |
Director |
|
Mr. Jobayer Ahmed |
Director |
|
Mr. Jahir Ahmed Shah |
Director |
|
Mr. Md. Shajahan |
Director |
|
Name |
: |
Mr. Md. Saiful Islam. |
|
Job
Description |
: |
Commercial Manager. |
|
Nationality |
: |
Bangladeshi |
|
Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
|
Services |
|
Others |
|
|
Range of Products: |
||
|
|
||
|
Products |
: |
Cotton Yarns. |
|
Production
Capacity |
: |
16.68 million Lbs. |
|
Last Year Production |
: |
Do |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit
: |
|
30
days |
|
60
days |
Ö |
90
days |
|
|
days |
|
Selling
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 |
: |
N/A |
|
|||||||
|
|
|
|||||||||
|
Brand Name |
: |
N/A |
||||||||
|
Certified |
: |
N/A |
||||||||
|
Auditors |
: |
N/A |
||||||||
|
Operation Status |
: |
Active |
||||||||
|
Member |
: |
Bangladesh Textile Mills
Association, Dhaka |
||||||||
|
Authorized
Capital |
: |
Tk. 100 Crore |
|
||||||
|
Paid-up
Capital |
: |
Tk.50,00, 00,000 |
No. of Shares |
: |
50, 00,000 |
Share Value |
: |
Tk.100.00Each |
|
|
Main
Assets |
: |
Tk. 80 Crore |
|
||||||
|
Sister
Concerns |
: |
N/A |
|
Subsidiary |
: |
N/A |
|
Name of
The Group |
: |
N/A |
|
Bank
Name |
: |
Eastern Bank Ltd. |
|
Bank
Address |
: |
Jiban Bima Bhaban 10, Dilkusha C/A Dhaka – 1000 Phone: 02-9556360 |
|
|
||
|
Bank
Name |
: |
City Bank Ltd. |
|
Bank
Address |
: |
Jiban Bima Tower 10 Dilkusha CIA,Dhaka. PO.Box -3381, Cable-BANKCITY Phone:
9565915, 9553137, 9553147 PABX 9565925-34 |
|
Bank
Name |
: |
Mutual Trust
Bank. |
|
Bank
Address |
: |
WW Tower (1st-3rd Floor) 68, Motijheel C/A, Dhaka Phone: 02-7113237, 02-7113238, 02-7119964,
02-7122049, 02-7122849 |
|
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 |
|
Our representative visited the subject
company head office address which is situated at Eunoos Center (Level-19),
52-53 Dilkusha C/A, Dhaka-1000, Bangladesh. |
|
Repeated attempts to obtain and verify
information from SC were unsuccessful as they declined all information citing
confidentiality. Please note that our credit rating is based on information
gathered from external sources as well as information obtained from past
interviews. |
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.33 |
|
UK Pound |
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.84.38 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.