MIRA INFORM REPORT
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Report Date : |
25.09.2013 |
IDENTIFICATION DETAILS
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Name : |
MOHAMMADI STEEL WORKS LTD |
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Registered Office : |
Akram Tower (12Th Floor),199 Shahid Syed Nazrul Islam Swarani, Dhaka-1000 |
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Country : |
Bangladesh |
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Date of Incorporation : |
29.12.2011 |
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Com. Reg. No.: |
C-13079 |
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Legal Form : |
Private Co
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Line of Business : |
Manufacturer & Distributor of MS Rod |
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No. of Employees : |
350 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 |
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Risk Category |
ECGC
Classification |
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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 |
: |
MOHAMMADI STEEL WORKS LTD |
|
Head Office |
: |
Akram Tower (12Th Floor),199 Shahid Syed Nazrul Islam Swarani, Dhaka-1000, Bangladesh |
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Tel No |
: |
88-02-8391327 |
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Fax No |
: |
88-02-8391040 |
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E-mail |
: |
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Website |
: |
- |
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Date/ Year of Incorporation |
: |
29/12/2011 |
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Incorporation No. |
: |
C-13079 |
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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)
________________ |
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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.180 million |
Tk.15Million |
Tk.3.85 milliomn |
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|
2012 |
Tk.210Million |
Tk.16 Million |
Tk.4.95 Million |
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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. Abu Taher |
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Designation |
: |
Genral Manager |
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Contract No |
: |
- |
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Locations Details |
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Business Address |
: |
Akram Tower (12Th Floor),199 Shahid Syed Nazrul Islam Swarani, Dhaka-1000, Bangladesh |
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Tel No |
: |
88-02-8391327 |
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E-mail |
: |
88-02-8391040 |
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Fax No |
: |
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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 |
1800 |
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: |
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Address |
: |
Simrail, Siddirgong, Nayarangonj, Bangladesh |
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Tel No |
: |
88-01716452253 |
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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 |
3.5 |
Acores |
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Employee: |
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No. of
Employees |
In Office |
: |
15 |
In Factory |
: |
335 |
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In Branch: |
: |
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Total |
: |
350 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of
Shareholders |
No. of Share |
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Mrs. Sayeda Momtazara Haqu |
31325 |
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Md. Rezwanul Haque |
40291 |
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Md. Yusuf Al-Amin |
40293 |
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Md. Imamul Haque |
40291 |
DIRECTORS
|
Name |
Designation |
|
Md. Rezwanul Haque |
Chairman |
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Mrs. Sayeda Momtazara Haqu |
Managing Director |
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Md. Yusuf Al-Amin |
Director |
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Md. Imamul Haque |
Director |
MANAGEMENT
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Name |
: |
Mr. Abu Taher |
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Job Description |
: |
Genral Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
- |
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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 |
: |
MS Rod |
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Production
Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
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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|||
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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 |
: |
Local peoples |
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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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Authorized
Capital |
: |
Tk.20 Million |
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Paid-up
Capital |
: |
Tk.15220000 |
No.
of Shares |
: |
152200 |
Share Value |
: |
Tk.100.00Each |
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Main
Assets |
: |
Tk.16 Million |
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FINANCIAL STATEMENT- DETAILED
The subject company don’t submit update financial figure to local
registry office.
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Sister Concerns |
: |
Yusuf Flour Mills |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
N/A |
BANKING
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Bank Name |
: |
Islami Bank Bangladesh Ltd. |
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Bank Address |
: |
Kakrail Branch, 30, VIP Road, Kakrail, Dhaka Phone:88-(02) 8322068 Mobile: 01711-431409 dhakanorth@islamibankbd.com Fax:88- (02) 8319300 |
ADVERSE DATA MONITORING
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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 representative visited the subject company registered address which
is situated at Akram Tower (12Th Floor),199 Shahid Syed Nazrul Islam Swarani,
Dhaka-1000, Bangladesh
GENERAL COMMENTS
Based on financial statement, the subject
company financial performance appears to be Average.
Hence, we recommended that Credit can proceed normally in Moderate amount
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.66 |
|
UK Pound |
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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NB |
New Business |
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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.