MIRA INFORM REPORT

 

 

Report Date :

02.07.2013

 

IDENTIFICATION DETAILS

 

Name :

FARZANA OVERSEAS

 

 

Registered Office :

Quazi Bhaban, Kalibari Bazaar, Maheswarpasha, Daulatpur, Khulna

 

 

Country :

Bangladesh

 

 

Year of Incorporation :

1993

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Importer & Seller of Consumer Goods     

 

 

No. of Employees :

15

 

 

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 :

No Complaints

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 DETAILS

 

Name

FARZANA OVERSEAS

Address

 
Quazi Bhaban, Kalibari Bazaar, Maheswarpasha, Daulatpur, Khulna

Country

Bangladesh

Telephone No

 
880-41-2870066, 774012,01711818668

Fax No

880-41-2870006

E-Mail

 
NIL

Website

NIL

Established

1993

Legal Status

Proprietorship

Business Type

Importer & Seller

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Quazi Bhaban, Kalibari Bazaar, Maheswarpasha, Daulatpur, Khulna

Telephone No

 
880-41-2870066, 774012,01711818668

Fax No

880-41-2870006

E-Mail

 
NIL

Website

NIL

Branch

NIL

Factory

N/A

Warehouse

Quazi Bhaban, Kalibari Bazaar, Maheswarpasha, Daulatpur, Khulna

 

 

PROPRIETOR

 

Name

Mr. Quazi Nasibul Hasan Sannu

Designation

Proprietor

Nationality

Bangladeshi

 

BUSINESS DETAILS

 

Line of Business

Importer & Seller

Items Dealing In

Consumer Goods     

Terms of Purchase

Import: Against L/C

Terms of Sale

Local: Cash or Credit

 

 

BANKERS

 

Name

National Bank Limited

Branch

Daulatpur Branch

Address

Daulatpur, Khulna  

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2011

2010

 

2009

Investment

Tk.18 million

Tk.16 million

Tk.16 million

Turnover

Tk.97 million

Tk.95.6 million

Tk.95 million

Liability

NIL

NIL

NIL

Assets

Tk.22 million

Tk.20 million

Tk.20 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

N/A 

Paid Up Capital

N/A

Each Share Value

N/A

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

120.3724

U.S Dollar

1

77.7700

European Euro

1

103.3097

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks

No Found

Debt

No Found

Litigation

No Records Found

Performance Defaults

No Records Found

Adverse Press Coverage

No Records Found

Money Laundering

No Records Found

 

 

GENERAL INFORMATION

 

Employees

15

Office Area (Sq. Ft)

1,500 sq.ft (rented)

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

3,500 sq.ft (rented)

Range of Products

4 Rice

4 Wheat

4 Soyabean Oil Cake

4 Food Grain

Imported From 

4 India

4 China

Certifications

NIL

Group Name

NIL

Subsidiaries / Affiliates

4 Sohan Enterprise 

4 S.L. Jute

Member

4 Khulna Chamber of Commerce & Industries, Khulna 

 

BUSINESS TREND & PROSPECT

 

Business Scale           

Medium

Business Trend

Growing

Management Capability

Good

Reputation

Good

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.14

UK Pound

1

Rs.90.05

Euro

1

Rs.77.06

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.