MIRA
INFORM REPORT
|
Report Date : |
13.09.2013 |
IDENTIFICATION DETAILS
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Name : |
HAPPY PLASTIC HOME |
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Registered Office : |
11/4, Sher-E-Bangla Road, Masdir, Narayanganj-1400 |
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Country : |
Bangladesh |
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Date of Incorporation : |
1998 |
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Legal Form : |
Sole Proprietorships |
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Line of Business : |
Manufacturer & Distributor of Garments Poly, Hanger & others
Accessories |
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No. of Employees : |
40 |
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 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 |
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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 |
: |
HAPPY PLASTIC
HOME |
|
Registered office |
: |
11/4, Sher-E-Bangla Road, Masdir, Narayanganj-1400, Bangladesh |
|
Tel No |
: |
88-02-7644710, 7633803, 01819-260140 |
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Fax No |
: |
- |
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E-mail |
: |
h.p.58@yahoo.com |
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Website |
: |
- |
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Date/ Year of Incorporation |
: |
1998 |
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Registered 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.15 Million |
Tk.9,5 Million |
Tk.0.21 Million |
||
|
2012 |
Tk.29 Million |
Tk.10 Million |
Tk.0.24 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 |
: |
Subas Banik |
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Designation |
: |
Accounts Manager |
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Contract No |
: |
- |
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Locations Details |
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Business Address |
: |
11/4, Sher-E-Bangla Road, Masdir, Narayanganj-1400, Bangladesh |
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Tel No |
: |
88-02-7644710, 7633803, 01819-260140 |
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Fax No |
: |
- |
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E-mail |
: |
h.p.58@yahoo.com |
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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 |
450 |
Sq. ft. |
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Type of Office :
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: Commercial Office Bldg. |
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Semi-commercial office Bldg. |
Ö |
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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: |
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Address |
: |
11/4, Sher-E-Bangla Road, Masdir, Narayanganj-1400, Bangladesh |
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Tel No |
: |
88-02-7644710, 7633803, 01819-260140 |
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Fax No |
: |
- |
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Owned |
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Rented |
Ö |
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Leased |
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Area |
20,000 |
Sq. ft. |
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Employee: |
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No. of
Employees |
In Office |
: |
7 |
In Factory |
: |
33 |
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In Branch: |
: |
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Total |
: |
40 |
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Details: |
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PROPRIETOR/PARTNERS
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Names of
Proprietor |
: |
Md. Azizur Rahman (Monju) |
MANAGEMENT
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Name |
: |
Subas Banik |
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Nationality |
: |
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Job Description |
: |
Manager- Accounts |
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Other details |
: |
- |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
Ö |
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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Others |
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Range of
Products/Item Dealings In: |
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Products |
: |
Garments Poly, Hanger &
others Accessories |
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Production
Capacity |
: |
- |
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Last Year
Production |
: |
- |
Trading Terms:
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Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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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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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 |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
China, India |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
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N/A |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL
STRUCTURE
|
Capital
Invested |
: |
Tk. 8 million |
|
Assets |
: |
Tk. 10 million |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
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Sister Concerns |
: |
N/A |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
N/A |
BANKING
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Bank Name |
: |
Dhaka Bank Ltd. |
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Bank Address |
: |
B B Road Branch Plot # 127, 1st Floor BB Road, Narayangonj 560232 Tel: +8802 761668,+8802 7616658 Fax: +88027630017 E-mail: bbroad@dhakabank.com.bd |
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Bank Name |
: |
Uttara Bank Ltd. |
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Bank Address |
: |
Dit Market Branch Wali Super Market,73/1, B. B. Road, Narayanganj-1400 Tel: 880-2-9714810, E-mail: ubldit@dhaka.net |
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 representative visited the subject
company Head office which is situated at 11/4, Sher-E-Bangla
Road, Masdir, Narayanganj-1400,
Bangladesh.
GENERAL COMMENTS
The subject is considered in its line with fairly good financial
conditions. 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.63.67 |
|
|
1 |
Rs.100.71 |
|
Euro |
1 |
Rs.84.72 |
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 |
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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 |
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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 |
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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.