MIRA INFORM REPORT

Report Date :

26.11.2013

IDENTIFICATION DETAILS

Name :	HEDAYET& BROTHERS

Registered Office :	2, MokimKatra, Moulavi Bazar, Chawk Bazar, Dhaka-1100,

Country :	Bangladesh.

Year of Establishment :	1973

Legal Form :	Sole Proprietorships Co

Line of Business :	Importer and Distributor of Various Types of Spices.

No. of Employees :	25 (In Office 20 + 5 In Wear House)

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
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 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Bangladesh

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

IDENTIFICATION DETAILS

Correct company Name

HEDAYET& BROTHERS

Head office

2, MokimKatra, Moulavi Bazar, Chawk Bazar,

Dhaka-1100, Bangladesh.

Tel No

88-02-7317730, 7312081, 7310849, 01675031131,0171303823.

Fax No

88-02-7312074

E-mail

hedayet07@gmail.com

Website

Nil

Date of Established

1973

Trade Licence No.

0229480

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)


Year	Turnover/ Sales	Assets		Income
2011	Tk.88 Million	Tk.15 Million		Tk.1.20 Million
2012	Tk.95Million	Tk15.5Million		Tk.1.80Million
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
-	-	-	-	-	-	-



Information Parted By

Name	:	Mr. MonjurAlamSalim
Designation	:	Manager
Contract No	:	N/A

Locations Details

Business Address	:	2, MokimKatra, Moulavi Bazar, Chawk Bazar,Dhaka-1100,Bangladesh
Tel No	:	88-02-7317730, 7312081, 7310849, 01675031131, 0171303823.
Fax No	:	88-02-7312074
E-Mail	:	hedayet07@gmail.com
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

480

Sq. ft.

Type of Office :	: Commercial Office Bldg.	Ö		Semi-commercial office Bldg.
	Retail shop		Industrial Park
	Business Center		Home Office
	Residential Bldg.

Wear House:

Address	:	2, MokimKatra, Moulavi Bazar, Chawk Bazar,Dhaka-1100,Bangladesh
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

1200

Sq. ft.

Employee:

No. of Employees	In Office	:	20	In Wear House	:	5
	In Branch:	:		Total	:	25
Details:

Names of Proprietor

Haji Md.AnayetUllah

Name

Mr. MonjurAlamSalim

Job Description

Manager

Nationality

Bangladesh

Other details

N/A


Nature of Activity :	Manufacturer	Trader		Dealer	Distributor	Ö

	Exporter	Importer	Ö	Services	Others

Range of Products/Item Dealings In:

Products	:	Various Types of Spices.
Production Capacity	:	N/A
Last Year Production	:	N/A

Trading Terms:

Purchasing Terms:	L/C	Ö	Cash		Others
	Credit :		30 days		60 days	Ö	90 days			days

Selling Terms :	L/C		Cash	Ö	Others
	Credit :	Ö	30 days		60 days		90 days			days

Trade Reference & Related Parties

Overseas Clients

N/A

Local Clients

Local Retail shops

Overseas Suppliers

N/A

Local Suppliers

N/A

Trade Markets

Exports

N/A

Imports

India, China, Indonesia

Brand Name

Nil

Certified

Nil

Auditors

Nil

Operation Status

Active

Member

N/A

Capital Invested

Tk.5 Million

Assets

Tk. 15.5Million


Sister Concerns	:	Insaf Foods Agrobase Industries Ltd.
Subsidiary	:	N/A
Name of The Group	:	Nil


	Bank Name	:	Islami bank Bangladesh Ltd.
	Bank Address	:	ChawkMogultuly Branch 93, ChawkMugaltully,Dhaka Phone: (02) 7318013, 7313508 Mobile: 01711-693939, 0174-037762 Email: cmb@islamibankbd.com
	Bank Name	:	ShahajalalIslami Bank Ltd
	Bank Address	:	Mitford D Road Branch, 173-174, Mitford Road, Dhaka-1100 Phone: 01755556102, 01755556202, 02-7315533 , 7313788 Fax: 02-7315534 Email: sblmitford@shahjalalbank.com.bd

Dishonored Checks				:	No Record Found
Debt				:	No Record Found

Litigation

Performance Defaults				:	No Record Found
Adverse Local Media Coverage/ Adverse Filling History				:	No Record Found

Our representative visited the subject company which is situated at 2, MokimKatra, Moulavi Bazar, Chawk Bazar,Dhaka-1100,Bangladesh

The subject is considered in its line with Below Average financial conditions. W 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.62.57
UK Pound	1	Rs.101.42
Euro	1	Rs.84.70

INFORMATION DETAILS

Report Prepared by :

NLM

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%)

MIRA INFORM REPORT

Unit