MIRA INFORM REPORT

 

 

Report Date :

11.11.2013

 

IDENTIFICATION DETAILS

 

Name :

INTERNATIONAL TRADING SERVICES LTD

 

 

Registered Office :

Civil Engineer Bhaban , 69, Mohakhali C/A, Dhaka-1212

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

31.07.1980

 

 

Com. Reg. No.:

C-8250 

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Manufacturer, Distributor, Exporter, Importer & Services of Shirts, Jackets, Pants, Generators 

 

 

No. of Employees :

1292

 

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 :

Regular

 

 

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

 

EXECUTIVE SUMMARY

 

IDENTIFICATION DETAILS

 

Correct company Name

:

INTERNATIONAL TRADING SERVICES LTD

Head Office

:

Civil Engineer Bhaban , 69, Mohakhali C/A, Dhaka-1212, Bangladesh

Tel No

:

88-02-9862003,98888872-3

Fax No

:

88-02-9297897

E-mail

:

info@standard-group.com

Website

:

-

Date/ Year of Incorporation

:

31-07.1980

Incorporation No.

:

C-8250 

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

     2011

Tk. 320 Million

Tk. 10 Crore

Tk.2.65Million

     2012

Tk. 345 Million

Tk. 11 Crore

Tk.3.80 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

 

Sales Trend – Analysis:

2002

2003

2004

2005

2006

2007

2008

2010

2011

2012

-

-

-

-

-

-

-

 

Description: http://www.asiancredit.com/Manage/image/up_arrow_04.gif

Description: http://www.asiancredit.com/Manage/image/up_arrow_04.gif

 

 

 

FULLCHECK REPORT DETAILS

 

Information Parted By

 

 

 

Name

:

Mr. H. Talukder

Designation

:

Country Manager

Contract No

:

88-01715042720

 

 

  Locations Details

 

Business Address

:

Civil Engineer Bhaban , 69, Mohakhali C/A, Dhaka-1212, Bangladesh

Tel No

:

88-02-9862003,98888872-3

E-mail

:

88-02-9297897

Fax No

:

info@standard-group.com

Website

:

-

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

3400

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

:

Plot # 656, 661 (Ground & 1st Floor), Jarun, Konabari, Gazipur Sadar,

Gazipur, Bangladesh

Tel No

:

88-02-9297062-8

Fax No

:

-

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

38500

Sq. ft.

 

Branches-1:

 

 

 

 

 

Address

:

BJMEA Bhaban(4th Floor), Kawran Bazar, Dhaka, Bangladesh

Tel No

:

88-02-9662007

Fax No

:

-

 

Location :

Owned

 

 

Rented

Ö

 

Leased

 

Area

1200

Sq. ft.

 

Branches-2:

 

 

 

 

 

Address

:

401/B, Tejgaon I/A, Tejgaon, Dhaka, Bangladesh

Tel No

:

88-02-

Fax No

:

 

 

Location :

Owned

 

 

Rented

Ö

 

Leased

 

Area

1800

Sq. ft.

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

45

In Factory

:

1247

In Branch:

:

 

Total

:

1292

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

Names of Shareholders

            No. of Share     

Engr. Md. Atiqur Rahman

         1000

Engr. A.K.M. Mosharaf Hussain

         1000

Ms. Husne Ara Begum  

         39800

Ms. Mahmuda Begum

         1000

Ms. Tasmiah Rahman

         1000

Mr. Hashnat Mosharaf

         398000

Ms. Faria Rahman

         398000

Mr. Faheem Mosharaf

         1000

 

 

DIRECTORS

 

Name

Designation

Engr. A.K.M. Mosharaf Hussain

Managing Director

Ms. Husne Ara Begum  

Director

Ms. Mahmuda Begum

Director

Mr. Hashnat Mosharaf

Director

Ms. Faria Rahman

Director

Engr. Md. Atiqur Rahman

Director

 

 

MANAGEMENT

 

Name

:

Mr. H. Talukder

Job Description

:

Country Manager

Nationality

:

Bangladeshi

Email address

:

-

Other details

:

88-01715042720

 

 

 

Name

:

Mr. Mustofa Kamal

Job Description

:

Manager(Wash)

Nationality

:

Bangladesh

Email address

:

-

Other details

:

88-01714085648

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

Ö

Importer

Ö

Services

 

Wash

Ö

 

Range of Products/Item Dealings In:

 

Products

:

Shirts, Jackets, Pants, Generators 

Production Capacity

:

40,000 Doz Per year

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

Ö

Others

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

 

DETAILED DATA

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

N/A

Local Clients

:

N/A

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

 

:

USA, Europe

 

Imports

 

:

China, India

 

Brand Name

:

N/A

Certified

:

Nil

Auditors

:

Nil

Operation Status

:

Active

Member

:

 Bangladesh Garments Manufacturer & Exporters Association

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk.15 Crore

Paid-up Capital

:

Tk.12,00,00,000

No. of Shares

:

12,00,000

 Share Value

:

Tk.100.00Each

Main Assets

:

Tk.11 Crore

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

The subject company don’t submit update financial figure to local registry office.

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

The Civil Engineers Ltd

Standard Garments Ind. Ltd.

Standard Stitches Limited

Standard Group Limited

Standard Garments Industries Ltd.,

Standard Insurance Ltd.

Subsidiary

:

N/A

Name of  The Group

:

Standard Group

 

 

BANKING

 

Bank Name  

:

United Commercial Bank Limited                                                

Bank Address

:

Mohakhali Branch

Medona Tower 28, Mohakhali C/A, Dhaka.

Tel: 88-01711-881052

 

Bank Name  

:

Pubali Bank Limited

Bank Address

:

Mohakhali Branch,

99, Mohakhali Comm. Area
Dhaka-1212, Bangladesh

Tel: 880 2 8811044

 

 

ADVERSE DATA MONITORING

 

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

 

 

SITE VISIT COMMENTARY

 

Our representative visited the subject company Head Office  address which is situated at Civil

Engineer Bhaban , 69, Mohakhali C/A, Dhaka-1212, Bangladesh

 

 

GENERAL COMMENTS

 

Established in 1980, the subject is mainly engaged in Manufacturer, Washing, Exporter, Importer & Distributors. Having been in operation for several years, the subject maintains accepted business volume.

 

Reputation in the market, as well as its financial condition, we recommended that Credit can proceed promptly in Fairly large amount

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.73

UK Pound

1

Rs.100.92

Euro

1

Rs.84.06

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.