MIRA
INFORM REPORT
|
Report Date : |
13.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
PUBALI VACCUM EVAPORATED SALT PLANT |
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Registered Office : |
23, |
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Country : |
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Date of Incorporation : |
2004 |
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Legal Form : |
Sole Proprietorships |
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Line of Business : |
Distributor & Refinery of Salt. |
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No. of Employees : |
90 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
PUBALI VACCUM
EVAPORATED SALT PLANT |
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Head office |
: |
23, Shah Suza Road, Nitaigonj, Narayangonj, Bangladesh. |
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Tel No |
: |
88-7633304-5 |
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Fax No |
: |
88-02-7630502 |
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E-mail |
: |
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Website |
: |
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Date of Established |
: |
2004 |
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Trade Licence No. |
: |
N/A |
|
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 |
|
|
2012 |
Tk.18 Million |
Tk. 10Million |
Tk.1.65 Million |
|
|
2013 |
Tk.25 Million |
Tk.11 Million |
Tk.2.00 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 |
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Sales Trend – Analysis: |
|||||||||
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2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
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- |
- |
- |
- |
- |
- |
- |
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FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Gurupod Shaha |
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Designation |
: |
Manager |
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Contract No |
: |
88-01715528894 |
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Locations Details |
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Business Address |
: |
23, Shah Suza Road, Nitaigonj, Narayangonj, Bangladesh. |
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Tel No |
: |
88-7633304-5 |
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Fax No. |
: |
88-02-7630502 |
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E-mail |
: |
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|
Website |
: |
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Location : |
: Owned |
|
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Rented |
Ö |
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Leased |
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Area |
1500 |
Sq. ft. |
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Type of Office :
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: Commercial Office Bldg. |
Ö |
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Semi-commercial office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory Address: |
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Address |
: |
5/1, Gopechar Road, Sayedpur, Narayangonj,
Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil
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Owned |
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Rented |
Ö |
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Leased |
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Area |
30,000 |
Sq. ft. |
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Employee: |
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No. of
Employees |
In Office |
: |
5 |
In Wear House |
: |
85 |
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In Branch: |
: |
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Total |
: |
90 |
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Details: |
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PROPRIETOR/PARTNERS
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Names of
Proprietor |
: |
Mr. Poritosh Kanti Shaha |
MANAGEMENT
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Name |
: |
Mr. Gurupod Shaha |
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Job Description |
: |
Manager |
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Nationality |
: |
Bangladeshi |
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Other details |
: |
88-01715528894 |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
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Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
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Services |
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Refinery |
Ö |
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Item Dealings
In: |
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Products |
: |
Salt. |
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Production
Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
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Trading Terms:
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Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
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30 days |
|
60 days |
Ö |
90 days |
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|
days |
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Selling
Terms : |
L/C |
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Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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|
days |
DETAILED DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
Local Salt Manufacturer |
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Trade Markets |
: |
Exports |
: |
N/A |
||||
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Imports |
: |
India. |
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Brand Name |
: |
Nil |
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Certified |
: |
Nil |
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Auditors |
: |
Nil |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
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Capital
Invested |
: |
Tk.10 Million |
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Assets |
: |
Tk. 11 Million |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
Sister Concerns |
: |
Pubali Soap Factory Pubali Salt Industries Ltd. Pubali Iodized Salt Plant |
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Subsidiary |
: |
N/A |
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Name of
The Group |
: |
Pubali Group of Industries |
BANKING
|
Bank Name |
: |
Islami Bank Bangladesh Ltd. |
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Bank Address |
: |
Narayanganj Branch Haji Shoping Complex, Golakandail (Bhulta),
Rupgonj, Narayangonj Mobile: 01713425963 |
ADVERSE DATA MONITORING
|
Dishonored
Checks |
: |
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance
Defaults |
: |
No Record Found |
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Adverse Local
Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE VISIT COMMENTARY
Our District representative visited the subject
company which is situated at 23, Shah Suza Road, Nitaigonj, Narayangonj,
Bangladesh
GENERAL COMMENTS
The subject company established about 9 years & as well as its
financial condition, we recommended that
Credit should be extended under guarantee in C.O.D to small amount
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.59 |
|
|
1 |
Rs.101.56 |
|
Euro |
1 |
Rs.85.15 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.