MIRA INFORM REPORT

 

 

Report Date :

01.03.2013

 

IDENTIFICATION DETAILS

 

Name :

THE GOLDEN FIBER TRADE CENTRE LIMITED

 

 

Registered Office :

109 (5th Floor) , Masjid Road, Old DOHS, Banani, Dhaka-1206

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

11.08.1988

 

 

Com. Reg. No.:

C-17753

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Manufacturer, Exporter, Shipper, Export Processor, Local Buying Agent & Bulk Supplier

 

 

No. of Employees :

250

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

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

 

The economy has grown 5-6% 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

THE GOLDEN FIBER TRADE CENTRE LIMITED

Address

109 (5th Floor) , Masjid Road, Old DOHS, Banani, Dhaka-1206,

Country

Bangladesh

Telephone No

880-2-713301, 8713302, 8713303, 8713304

Fax No

880-2-8713305, 9142412

E-Mail

golden@citechco.net, golden2@citechco.net, golden3@citechco.net

Website

www.simuragroup.com

Established

1998

Company Registration No

C-17753

Registration date

11th August 1988

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Dhaka

Business Type

Manufacturer, Exporter, Shipper, Export Processor, Local Buying Agent & Bulk Supplier

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

109 (5th Floor) , Masjid Road, Old DOHS, Banani, Dhaka-1206,

Telephone No

880-2-713301, 8713302, 8713303, 8713304

Fax No

880-2-8713305, 9142412

E-Mail

golden@citechco.net, golden2@citechco.net, golden3@citechco.net

Website

www.simuragroup.com

Branch

751, Sat Masjid Road, Dhanmondi, Dhaka-1209

Factory

Jamalpur, Bangladesh

Factory Telephone No

N/A

Factory Fax No

N/A

Warehouse

Jamalpur, Bangladesh

 

 

 

 

DIRECTORS

 

Name

Mr. Mushtaq Hussain

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mrs. Simin Hussain

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Mr. Mushtaq Hussain

Share Percent

60%

Nationality

Bangladeshi

 

 

Name

Mrs. Simin Hussain

Share Percent

40%

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturer, Exporter, Shipper, Export Processor, Local Buying Agent & Bulk Supplier

Items Dealing In

Jute Products

Terms of Purchase

Local: Cash or Credit

Terms of Sale

Export: Against L/C

 

 

BANKERS

 

Name

Agrani Bank Limited

Branch

Corporate Office Branch,

Address

Motijheel Commercial Area, Dhaka

SWIFT

N/A

 

 

Name

Standard Chartered bank

Branch

Dilkusha Branch,

Address

Dilkusha Commercial Area, Dhaka

SWIFT

N/A

 

 

Name

Sonali Bank Limited

Branch

Principal Office Branch,

Address

Motijheel Commercial Area, Dhaka

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2011

2010

 

2009

Investment

Tk.37 million

Tk.37 million

Tk.35.5 million

Turnover

Tk.265.6 million

Tk.265 million

Tk.263.6 million

Liability

Tk.6 million

Tk.6.6 million

Tk.7.9 million

Assets

Tk.35 million

Tk.35 million

Tk.32 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.15 million

Paid Up Capital

Tk.100,000.00

Each Share Value

Tk.100.00

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

125.2310

U.S Dollar

1

79.2200

European Euro

1

107.4857

 

 

 

 

 

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

250

Office Area (Sq. Ft)

2,150 sq.ft (rented)

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

7,500 sq.ft.(rented)

Range of Products

RAW JUTE

4 Raw Bangla Tossa Jute Fiber 

4 Raw Bangla White Jute Fiber 

4 Roselle Hemp Fiber (Mesta Jute)

4 Raw Kenaf Fiber (Ambari Hemp)

 

PROCESSED JUTE

4 Random Cut Fibers

4 Cut-to-length Fibers  

4 Carded Bust Fibers   

4 Bust Fiber Sliver

 

SPUN JUTE FIBERS & JUTE CORDAGE

4 Jute Yarn     

4 Jute Twine    

4 Jute Cord     

4 Jute Rope

 

JUTE FEED SACKINGS

4 Hessian Bag (Potato Sack)   

4 Jute Seed Bags (Grain Sacks)           

4 Burlap Coffee Bag     

4 Burlap Corn Sack

4 Burlap Flour Bag       

4 Jute Twill Bag           

4 Jute Wool Packs or Woolpacks         

4 Double Wrap (DW) Jute Sacks

4 Jute Sand Bags        

4 Jute Mesh Bag

                                               

JUTE NETTINGS

4 Jute Matting Roll (Uncut Netting)

4 Jute Mesh (Pre-cut Sheet)

4 Jute Tree Drape (Nursery Tape)

4 Jute Netting Blind

 

JUTE SACKING FABRICS & SACKING CLOTH

4 Jute Hessian Cloth (In Uncut Rolls)

4 Jute Hessian Sheets (In Pre-cut Squares)       

4 Jute Twill Cloth (Densely Woven)        

4 Jute DW Hop Cloth (Double Wrap Fabric)

 

JUTE FABRICS & JUTE TRIMS

4 Jute Webbing (Jute Trims or Liners)    

4 Jute Canvas Cloth (Jute Tarpaulin)      

4 Carpet Backing Cloth (CBC)  

4 Burlap Camo Fabric

Export Market

4 United Kingdom

4 France

4 Spain

4 Italy

4 Russia

4 Pakistan

4 China

4 Japan

4 South Korea

Certifications

NIL

Group Name

4 Simura Group

Subsidiaries / Affiliates

4 Simura Non-Woven Limited

4 Simura Construction Co., Limited

4 KHB Fibers Limited

4 Simura Technical Fiber & Products Limited

Member

4 Dhaka Chamber of Commerce & Industries     

4 Bangladesh Jute Exporters Association

4 Bangladesh Jute Mills Association

4 Bangladesh Jute Goods Association

4 Bangladesh Jute Mills Corporation

4 Bangladesh Jute Research Institute

4 International Jute Study Group

4 Export Promotion Bureau of Bangladesh

4 Shippers' Council of Bangladesh

 

 

 

BUSINESS TREND & PROSPECT

 

Business Scale           

Fairly Large

Business Trend

Growing

Management Capability

Good

Reputation

Good

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.77

UK Pound

1

Rs.81.57

Euro

1

Rs.70.68

 

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%)

 

 

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.