|
Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
CRYMSON GLORY |
|
|
|
|
Registered Office : |
29 Bangabandhu Avenue (2nd
Floor), Motijheel C/A, Dhaka-1000 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Year of Establishments: |
1998 |
|
|
|
|
Legal Form : |
Proprietorship Concern |
|
|
|
|
Line of Business : |
Importer & Seller of Chemicals & Tiles |
|
|
|
|
No. of Employees : |
16 |
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 : |
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 |
|
Name |
Crymson Glory |
|
Address |
29 Bangabandhu Avenue (2nd Floor), Motijheel C/A, Dhaka-1000 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-7169321 |
|
Fax No |
880-2-9551406 |
|
E-Mail |
|
|
Website |
NIL |
|
Established |
1998 |
|
Legal Status |
Proprietorship |
|
Business Type |
Importer & Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have
been heard regarding payments from local suppliers or banks. |
|
Head Office |
29 Bangabandhu Avenue (2nd Floor), Motijheel C/A, Dhaka-1000 |
|
Telephone No |
880-2-7169321 |
|
Fax No |
880-2-9551406 |
|
E-Mail |
|
|
Website |
NIL |
|
Branch |
NIL |
|
Factory |
N/A |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
29 Bangabandhu Avenue (2nd Floor), Motijheel C/A, Dhaka-1000 |
|
Name |
Mr. Joarder
Nowsher Ali FCA |
|
Designation |
Proprietor |
|
Nationality |
Bangladeshi |
|
Line of Business |
Importer & Seller |
|
Items Dealing In |
Chemicals &
Tiles |
|
Terms of Purchase |
Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Name |
United
Commercial Bank Limited |
|
Branch |
Foreign Exchange
Branch |
|
Address |
Dilkusha Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
Year |
As At 31st March 2012 |
|
Investment |
Tk.12 million |
|
Turnover |
Tk.62 million |
|
Liability |
NIL |
|
Assets |
Tk.18 million |
|
Authorized
Capital |
N/A |
|
Paid Up Capital |
N/A |
|
Each Share Value |
N/A |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
117.6664 |
|
U.S Dollar |
1 |
77.7600 |
|
European Euro |
1 |
100.6214 |
|
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 |
|
Employees |
16 |
|
Office Area (Sq.
Ft) |
870 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
1,500 sq.ft. (rented) |
|
Range of
Products |
4 Industrial Chemicals 4 Tiles |
|
Imported
From |
4 China 4 Indonesia 4 Italy 4 Pakistan 4 Thailand 4 Japan |
|
Certifications |
NIL |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
4 Tilottama Tiles 4 Tilottoma Trade Centre 4 Sonar Bangla Tiles 4 Provatiins 4 Snowcem Bangladesh
Ltd 4 Bhawal
Mashroom Chash (Agri) Procalpa |
|
Member |
4 Dhaka Chamber
of Commerce & Industries, Dhaka |
|
Business Scale |
Medium |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
UK Pound |
1 |
Rs.86.01 |
|
Euro |
1 |
Rs.73.68 |
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.