MIRA INFORM REPORT
|
Report Date : |
12.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
UTTARA PAT SANGSTHA |
|
|
|
|
Registered Office : |
Khan-E-Sabur Road, Daulatpur, Khulna |
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|
|
|
Country : |
Bangladesh |
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Year of Establishments: |
1991 |
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|
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Legal Form : |
Sole Proprietorship |
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|
|
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Line of Business : |
Exporter of Raw Jute |
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|
|
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No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Bangladesh |
B1 |
B1 |
|
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 |
EXECUTIVE
SUMMARY
|
IDENTIFICATION DETAILS |
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|
Correct concern Name |
: |
UTTARA PAT SANGSTHA |
|
Head office |
: |
Khan-E-Sabur Road, Daulatpur, Khulna, Bangladesh. |
|
Tel No |
: |
88-02-774217, 01710887275 |
|
Fax No |
: |
88-041-774286 |
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E-mail |
: |
|
|
Website |
: |
- |
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Date of Established |
: |
1991 |
|
Trade Licence No. |
: |
- |
|
Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorship 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.18 Million |
Tk.8million |
Tk.0.65 million |
|
|
2012 |
Tk.25 Million |
Tk.8.5 million |
Tk.1.50 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: |
|||||||||
|
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
|
- |
- |
- |
- |
- |
- |
- |
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Information
Parted By
|
||
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Name |
: |
Mr. Himangshu Shaha |
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Designation |
: |
Officer |
|
Contract No |
: |
- |
Locations Details
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Business Address |
: |
Khan-E-Sabur Road, Daulatpur, Khulna, Bangladesh. |
|
Tel No |
: |
88-02-774217, 01710887275 |
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E-mail |
: |
88-041-774286 |
|
Fax No |
: |
|
|
Website |
: |
- |
|
Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
650 |
Sq. ft. |
|
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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Wear House: |
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Address |
: |
Digulia, Daulatpur, Khulna, Bangladesh |
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Tel No |
: |
- |
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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 |
25,000 |
Sq. ft. |
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Employee: |
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No.
of Employees |
In Office |
: |
3 |
In Ware House |
: |
9 |
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In Branch: |
: |
- |
Total |
: |
12 |
|||
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Details: |
- |
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PROPRIETOR/PARTNERS
|
Names of
Proprietor |
: |
Mr. Robiul Ahsan Sico |
MANAGEMENT
|
Name |
: |
Mr. Nazrul Nslam |
|
Job Description |
: |
Manager |
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Nationality |
: |
Bangladesh |
|
Other details |
: |
- |
|
Name |
: |
Mr. Himangshu Shaha |
|
Job Description |
: |
Officer |
|
Nationality |
: |
Bangladeshi |
|
Other details |
: |
- |
BUSINESS
OPERATIONS
|
Nature of
Activity : |
Manufacturer |
|
Trader |
|
Dealer |
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Distributor |
|
|
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|||||||
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Range of
Products/Item Dealings In: |
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|
Products |
: |
Raw Jute |
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Production Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
|
Purchasing
Terms: |
L/C |
|
Cash |
Ö |
Others |
|
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|||
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Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
|
Selling
Terms : |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
DETAILED
DATA
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
|
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
Local Peoples |
|||
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Trade Markets |
: |
Exports |
: |
India, China |
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Imports |
: |
N/A |
||||||
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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
|
Capital
Invested |
: |
Tk. 6 Million |
|
Assets |
: |
Tk. 8.5 Million |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
Sister Concerns |
: |
Jute Textiles Mills Ltd. Mondal and Co. |
|
Subsidiary |
: |
N/A |
|
Name of The
Group |
: |
Nil |
BANKING
|
Bank Name |
: |
Rupali Bank Ltd. |
|
Bank Address |
: |
Daulatpur Branch Daulatpur, Khulna Bangladesh. |
ADVERSE
DATA MONITORING
|
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 |
SITE
VISIT COMMENTARY
Our District representative visited the
subject concern which is situated at Khan-E-Sabur Road,
Daulatpur, Khulna, Bangladesh
GENERAL
COMMENTS
Subject concern is considered large sized in its line with Below Average
financial conditions.
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
|
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.