MIRA INFORM REPORT

Report Date :

31.10.2013

IDENTIFICATION DETAILS

Name :	AZAD ENTERPRISE

Registered Office :	200/A, Green Road (Ground Floor), Dhaka,

Country :	Bangladesh

Year of Establishment :	1987

Legal Form :	Sole Proprietorships Co.

Line of Business :	Importer of Dyes, Chemicals

No. of Employees :	5 (In Office 4 + 1 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

AZAD ENTERPRISE

Head office

200/A, Green Road (Ground Floor), Dhaka, Bangladesh

Tel No

88-02-9128327, 01713017198

Fax No

E-mail

azaden@bdmail.net

Website

Date of Established

1987

Trade Licence 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)


Year	Turnover/ Sales	Assets		Income
2011	Tk.12 Million	Tk.5.5 million		Tk. 0.25 million
2012	Tk.15Million	Tk.6 million		Tk. 0.90 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
-	-	-	-	-	-	-



Information Parted By

Name	:	Mr. Raquib Ahmed Azad
Designation	:	Proprietor
Contract No	:	88-01713017198

Locations Details

Business Address	:	200/A, Green Road (Ground Floor), Dhaka, Bangladesh
Tel No	:	88-02-9128327, 01713017198
E-mail	:	azaden@bdmail.net
Fax No	:	-
Website	:	-

Location :

: Owned

Rented

Leased

Area

350

Sq. ft.

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

Wear House:

Address	:	200/A, Green Road (Ground Floor), Dhaka, Bangladesh
Tel No	:	88-02-9128327, 01713017198
Fax No	:

Location :

Owned

Rented

Leased

Area

1050

Sq. ft.

Employee:

No. of Employees	In Office	:	4	In Wear House	:	1
	In Branch:	:		Total	:	5
Details:

Names of Proprietor

Mr. Raquib Ahmed Azad

Name

Mr. Raquib Ahmed Azad

Job Description

Proprietor

Nationality

Bangladeshi

Other details

88-01713017198


Nature of Activity :	Manufacturer	Trader		Dealer	Distributor

	Exporter	Importer	Ö	Services	Sellers	Ö

Range of Products/Item Dealings In:

Products	:	Dyes, Chemicals
Production Capacity	:	N/A
Last Year Production	:	N/A

Trading Terms:

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

Overseas Suppliers

N/A

Local Suppliers

N/A

Trade Markets

Exports

N/A

Imports

China, India

Brand Name

Nil

Certified

Nil

Auditors

Nil

Operation Status

Active

Member

N/A

Capital Invested

Tk.4Million

Assets

Tk. 6Million


Sister Concerns	:	Nil
Subsidiary	:	N/A
Name of The Group	:	Nil


Bank Name	:	IFIC Bank Ltd
Bank Address	:	Dhanmondi Branch Royal Plaza (1st & 2nd floor), House # 8A, Road # 4, Mirpur Road, Dhanmondi, Dhaka-1205, Bangladesh


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

Our representative visited the subject company which is situated at 200/A, Green Road (Ground Floor), Dhaka, Bangladesh. But there is no relation Central, Bashaboo, Dhaka, Bangladesh& this address is wrong address.

Subject company is considered large sized in its line with Below Average financial conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.48
UK Pound	1	Rs.98.70
Euro	1	Rs.84.48

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%)

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.

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