MIRA INFORM REPORT

Report Date :

12.04.2014

IDENTIFICATION DETAILS

Name :	HAPPY PLASTIC HOME

Registered Office :	11/4, Sher-E-Bangla Road, Masdir, Narayanganj-1400

Country :	Bangladesh

Date of Incorporation :	1998

Legal Form :	Sole Proprietorships

Line of Business :	Manufacturer and Distributor of Garments Poly, Hanger & others Accessories

No of Employees :	40

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 :	No Complaints

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 – december 01, 2013

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

Bangladesh

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

BANGLADESH - ECONOMIC OVERVIEW

Bangladesh's economy has grown roughly 6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, slow implementation of economic reforms, and the 2008-09 global financial crisis and recession. Although more than half of GDP is generated through the service sector, almost half of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Garment exports, the backbone of Bangladesh’s industrial sector and 80% of total exports, surpassed $21 billion last year, 18% of GDP. The sector has remained resilient in recent years amidst a series of factory accidents that have killed over 1,000 workers and crippling strikes that shut down virtually all economic activity. Steady garment export growth combined with remittances from overseas Bangladeshis, which totaled almost $15 billion and 13% of GDP IN 2013, are the largest contributors to Bangladesh’s current account surplus and record foreign exchange holdings.

Source : CIA

IDENTIFICATION DETAILS

Correct company Name	:	Happy Plastic Home
Head Office	:	11/4, Sher-E-Bangla Road, Masdir, Narayanganj-1400, Bangladesh.
Tel No	:	88-02-7644710, 7633803, 01819-260140
Fax No	:	Nil
E-mail	:	h.p.58@yahoo.com
Website	:	Nil
Date/ Year of Incorporation	:	1998
Incorporation No.	:	N/A
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
July’ 11~June’ 12	Tk. 29 Million	Tk. 10 Million	Tk. 0.24 Million
July’ 12~June’ 13	Tk. 43 Million	Tk. 10.84 Million	Tk. 0.75 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

Information Parted By

Name

Mr. Shahin Mahmud

Designation

Manager

Contract No

*Locations Details*

Operating Address	:	11/4, Sher-E-Bangla Road, Masdir, Narayanganj-1400, Bangladesh.
Tel No	:	88-02-7644710, 7633803, 01819-260140
Fax No	:	Nil
E-mail	:	h.p.58@yahoo.com
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

420

Sq. ft.

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

Warehouse:

Address	:	11/4, Sher-E-Bangla Road, Masdir, Narayanganj-1400, Bangladesh.
Tel No	:	88-02-7644710, 7633803, 01819-260140
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

20,000

Sq. ft.

Branches:

Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	7	In Factory	:	33
	In Branch:	:	-	Total	:	40
Details:

Names of Proprietor

Md. Azizur Rahman (Monju)

Name

Subas Banik

Job Description

Manager- Accounts.

Nationality

Bangladeshi.

Email address

N/A

Other details

N/A

Name

Mr. Sahin Mahmud.

Job Description

Manager.

Nationality

Bangladeshi.

Email address

N/A

Other details

N/A


Nature of Activity :	Manufacturer	Ö	Trader	Dealer	Distributor	Ö

	Exporter		Importer	Services	Others

Item Dealings In:

Products	:	Garments Poly, Hanger & others Accessories
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	Ö	Cash		Others
	Credit :		30 days		60 days	Ö	90 days			days

Trade Reference & Related Parties

Overseas Clients

N/A

Local Clients

N/A

Overseas Suppliers

N/A

Local Suppliers

N/A

Trade Markets

Exports

N/A

Imports

China, India

Brand Name

Nil

Certified

Nil

Auditors

N/A

Operation Status

Active

Member

N/A

Capital Invested

Tk. 8 Million

Assets

Tk. 10.84 Million

Sister Concerns

N/A

Subsidiary

N/A

Name of The Group

N/A


Bank Name	:	Dhaka Bank Ltd.
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

Bank Name	:	Uttara Bank Ltd.
Bank Address	:	Dit Market Branch Wali Super Market,73/1, B. B. Road, Narayanganj-1400 Tel: 880-2-9714810, E-mail: ubldit@dhaka.net


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 Head office which is situated at 11/4, Sher-E-Bangla

Road, Masdir, Narayanganj-1400, Bangladesh. The subject company Manager Mr. Shahin mahmud welcome us & given us all information. Its office is decorated by normal furniture.

Based on the financial statements, SC’s financial performance appears to be below average. SC has been in its line of business for about 15 years. 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

Adopted Abbreviations:
NA- Not Available	TK- Bangladeshi Taka

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 60.26
UK Pound	1	Rs. 101.09
Euro	1	Rs. 83.73

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	DPT

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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