MIRA
INFORM REPORT
|
Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
AMIN TRADERS |
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Registered Office : |
53-1, S.M. Maleh Road (56, S.M. Maleh Road), Tanbazar, Narayanganonj |
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Country : |
Bangladesh |
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Year of Establishments: |
2000 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributor & importer of Raw Cotton |
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No. of Employees : |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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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 |
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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 |
|
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 concern
Name |
: |
Amin Traders |
|
Head office |
: |
53-1, S.M. Maleh Road (56, S.M. Maleh Road), Tanbazar, Narayanganonj, Bangladesh |
|
Tel No |
: |
88-02-7634814,
01713032749 |
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Fax No |
: |
88-02-7640553 |
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E-mail |
: |
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|
Website |
: |
- |
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Date of Established |
: |
2000 |
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Trade License No. |
: |
- |
|
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.35 Million |
Tk.7 million |
Tk.1.45 million |
|
|
2012 |
Tk.41 million |
Tk.8 million |
Tk.1.60 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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Information Parted By |
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Name |
: |
Mr. Saiful Islam Sumon |
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Designation |
: |
Commercial
Officer |
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Contract No |
: |
88-01713032749 |
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Locations Details |
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Business Address |
: |
53-1,
S.M. Maleh Road (56, S.M. Maleh
Road), Tanbazar, Narayanganonj,
Bangladesh |
|
Tel No |
: |
88-02-7634814,
01713032749 |
|
E-mail |
: |
- |
|
Fax No |
: |
88-02-7640553 |
|
Website |
: |
- |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
1200 |
Sq. ft. |
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Type of Office : |
: 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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Ware House: |
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Address |
: |
53-1,
S.M. Maleh Road (56, S.M. Maleh
Road), Tanbazar, Narayanganonj,
Bangladesh |
|
Tel No |
: |
- |
|
Fax No |
: |
- |
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Owned |
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Rented |
Ö |
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Leased |
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Area |
10,000 |
Sq. ft. |
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Employee: |
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No. of
Employees |
In Office |
: |
3 |
In Wear House |
: |
2 |
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In Branch: |
: |
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Total
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: |
6 |
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Details: |
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PROPRIETOR/PARTNERS
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Names of
Proprietor |
: |
Mr.
Mizanur Rahman |
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MANAGEMENT
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Name |
: |
Mr. Saiful Islam Sumon |
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Job Description |
: |
Commercial
Officer |
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Nationality |
: |
Bangladeshi |
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Other details |
: |
88-01713032749 |
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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 |
Ö |
Services |
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Others |
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Range of Products/Item Dealings In: |
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Products |
: |
Raw Cotton |
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Production
Capacity |
: |
N/A |
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Last Year Production |
: |
N/A |
Trading Terms:
|
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 |
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60 days |
Ö |
90 days |
|
|
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 |
|
60 days |
|
90 days |
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|
days |
DETAILED DATA
|
Trade Reference & Related Parties |
: |
Overseas
Clients |
: |
N/A |
Local
Clients |
: |
N/A |
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Overseas
Suppliers |
: |
N/A |
Local
Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
China,
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. 6 Million |
|
Assets |
: |
Tk. 8 Million |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
Sister Concerns |
: |
M/s Majeda Traders Habib & Brothers Hazrat Amanat Shah Securities Ltd., Ideal Spinning Mills Ltd., Amin Uddin Traders
Ltd. Hazrat Amanat Shah SpinningMills Ltd. |
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Subsidiary |
: |
N/A |
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Name of
The Group |
: |
Nil |
banking
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Bank Name
|
: |
Dhaka Bank Ltd. |
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Bank Address |
: |
Narayanganj Branch 26-29 S. M. Maleh
Road, Tanbazar, Narayanganj
Tel: 8802 7630427, 9750300, 9750400,
7630439 E-mail: narayangonj@dhakabank.com.bd Fax:
8802 7631864 |
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Bank Name
|
: |
Shahjalal Islami Bank Ltd. |
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Bank Address |
: |
Narayanganj Branch Osman Tower, 56/1,
S.M. Maleh Road, Narayangonj Phone: 88-02-7635172 Fax: 88-02-7635173 |
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Bank Name
|
: |
Exim Bank Ltd. |
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Bank Address |
: |
Narayanganj Branch 50, SM Maleh
Road, Sattar Tower, Tan Bazar, Narayangonj |
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Bank Name
|
: |
National Bank
Ltd. |
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Bank Address |
: |
Narayanganj Branch Rahat Plaza; Narayanganj Phone: 88-02-7630441 |
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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 concern
which is situated at 53-1, S.M. Maleh Road
(56, S.M. Maleh Road), Tanbazar,
Narayanganonj, Bangladesh |
GENERAL COMMENTS
|
The
subject is considered in its line with fairly good financial conditions. |
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Adopted Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.30 |
|
UK Pound |
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.83.15 |
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.