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Report Date : |
22.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
JALAL AHMED SPINNING MILLS LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
12.02.2003 |
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Com. Reg. No.: |
C-40109 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Manufacturer of Fabrics |
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No. of Employees : |
800 |
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 |
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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
|
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 |
Jalal Ahmed Spinning Mills Limited |
|
Address |
Post Office
Road, Lalpur, Fatullah, Narayangonj-1421 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9563750-51,
9569817 |
|
Fax No |
880-2-9562871 |
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E-Mail |
|
|
Website |
|
|
Established |
2003 |
|
Company Registration No |
C-40109 |
|
Registration date |
12th
February 2003 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
|
Head Office |
Eunoos Center, Level - 19, 52-53 Dilkusha C/A, Dhaka - 1000 |
|
Telephone No |
880-2-9563750-51,
9569817 |
|
Fax No |
880-2-9562871 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
Post
Office Road, Lalpur, Fatullah, Narayangonj-1421 |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Post Office Road,
Lalpur, Fatullah, Narayangonj-1421 |
|
Name |
Mr. Mohammad
Shahjahan |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Salim Ahmed |
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Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Mohammad
Shahjahan |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Salim Ahmed |
|
Share Percent |
50% |
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Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer |
|
Items Dealing In |
Fabrics |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or credit |
|
Name |
Sonali Bank
Limited |
|
Branch |
Fatullah Branch |
|
Address |
Fatullah, Narayanganj |
|
SWIFT |
N/A |
|
|
|
|
Name |
Islami Bank
(Bangladesh) Limited |
|
Branch |
Dilkusha Branch |
|
Address |
Dilkusha C/A, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.38 million |
Tk.36 million |
Tk.36 million |
|
Turnover |
Tk.316 million |
Tk.314.6 million |
Tk.314 million |
|
Liability |
Tk.8.4 million |
Tk.9.5 million |
Tk.10 million |
|
Assets |
Tk.52 million |
Tk.50 million |
Tk.50 million |
|
Authorized
Capital |
Tk.10 million |
|
Paid Up Capital |
Tk.100,000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
120.3724 |
|
U.S Dollar |
1 |
77.7700 |
|
European Euro |
1 |
103.3097 |
|
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 |
800 |
|
Office Area (Sq.
Ft) |
2,500 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
55,000 sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
5,500 sq.ft.(own) |
|
Range of
Products |
4 100% Cotton Hanks & Cone 4 Single
& Double Yarn From 30 to 86 Counts |
|
Export Market |
N/A |
|
Certifications |
NIL |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
4 Shah Fatehullah Textile Mills
Limited |
|
Member |
4 Dhaka Chamber of Commerce &
Industries, Dhaka 4 Bangladesh Textile Mills
Association |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.35 |
|
UK Pound |
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
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.