MIRA INFORM REPORT

 

 

Report Date :

17.04.2014

 

IDENTIFICATION DETAILS

 

Name :

BRAND MERCHANDISE PACKERS LTD

 

 

Registered Office :

Sahera Tropical Tower (9th Floor), 218 Elephant Road, Dhaka-1205,

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

28.02.2009

 

 

Com. Reg. No.:

C-74696

 

 

Legal Form :

Private Co

 

 

Line of Business :

Manufacturer and Trader of Garments Accessories like Carton, Label, Hang tag, Gum Tag, Hanger etc. 

 

 

No of Employees :

31

 

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

Payment Behaviour :

Clear

Litigation :

Slow But Correct

 

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 – September 30, 2013

 

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

 

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

 

Comments                  :They changed their address “63, Kalurghat Heavy Industrial Area, Mohra Chandgao,  Chittagong, Bangladesh.”

 

 

Rounded Rectangle: EXECUTIVE SUMMARY                          

          

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

Brand Merchandise Packers Ltd.

Head Office

:

Sahera Tropical Tower (9th Floor), 218 Elephant Road, Dhaka-1205, Bangladesh.

Tel No

:

88-01713068852, 01912700707, 01812042710, 9676223, 967228

Fax No

:

Nil

E-mail

:

bmpackers@gmail.com,

himubm@gmail.com

Website

:

Nil

Date/ Year of Incorporation

:

28.02.2009

Incorporation No.

:

C-74696

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)

 

Rounded Rectangle: FINANCIALS- SUMMARY 

 

 

 

      Year

Turnover/ Sales

 Assets

     Income

July’ 11~June’ 12

Tk. 60 Million

Tk.13 Million

Tk. 0.85 Million

July’ 12~June’ 13

Tk. 72 Million

Tk.14.60 Million

Tk. 1.35 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

 

 

Rounded Rectangle: FULLCHECK REPORT DETAILS
 

 

 

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Abdullah Al- Murtaza

Designation

:

General Manager.

Contract No

:

88-01713 068852

 

 

                                                               Locations Details

 

Operating Address

:

Sahera Tropical Tower (9th Floor), 218 Elephant Road, Dhaka-1205, Bangladsh

Tel No

:

88-01713068852, 01912700707, 01812042710, 9676223, 967228

Fax No

:

bmpackers@gmail.com,

himubm@gmail.com

E-mail

:

Nil

Website

:

Nil

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

550

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

Ö

     

 

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

436/B-689, Munsipara, North Kattuli, Pahertoli, Chittagong-4217, Bangladesh.

Tel No

:

88-01712682932, 01678007308

Fax No

:

Nil

 

Location :

   Owned

 

 

Rented

Ö

 

Leased

 

Area

25, 000

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

6

In Factory

:

25

In Branch:

:

-

Total

:

31

Details:

 

                     

 

 

 

 

 

Rounded Rectangle: OWNERSHIP/SHAREHOLDERS

         Names of Shareholders

                      No. of Share     

Mr. Musaddek Mubarak

                                500

Mr. Lutful Kadir Mollick

                                500

 

 

Rounded Rectangle: DIRECTORS
 

 

 

Name

Designation

Mr. Musaddek Mubarak

Managing Director

Mr. Lutful Kadir Mollick

Director

 

 

Rounded Rectangle: MANAGEMENT
 

 

 

Name

:

Mr. Abdullah Al- Murtaza

Job Description

:

General Manager.

Nationality

:

Bangladeshi.

Email address

:

atx.murtaza@gmail.com

Other details

:

N/A

 

 

 

 

 

 

 

 

Nature of Activity       :

Manufacturer

Ö

Trader

Ö

Dealer

 

Distributor

 

 

 

 

Exporter

 

Importer

Ö

Services

 

Others

 

 

 

Item Dealings In:

 

Products

:

Garments Accessories like Carton, Label, Hang tag, Gum Tag, Hanger etc.    

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

 

 

Rounded Rectangle: DETAILED DATA
 

 

 

 

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

N/A

Local Clients

:

Local garments

 

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

 

 

Rounded Rectangle: CAPITAL STRUCTURE
 

 

 

 

 

Authorized Capital

:

Tk.10 Million

 

Paid-up Capital

:

Tk.1,00,000

    No. of Shares

:

1000

Share Value

:

Tk.100.00Each

Main Assets

:

Tk. 13 Million

 

 

 

Rounded Rectangle: FINANCIAL STATEMENT- DETAILED
 

 

 

The subject company don’t submit update financial figure to local registry office.

 

 

 

Rounded Rectangle: ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
 

 

 

Sister Concerns

:

BM Traders

AHM Corporation

GBS Wears international

Brand Accessories Ltd

Subsidiary

:

N/A

Name of  The Group

:

N/A

 

 

Rounded Rectangle: BANKING 

 

 

 

 

Bank Name  

:

Mutual Trust Bank Ltd.

Bank Address

:

Gulshan Branch,

120GulshanAvenue,Dhaka-1212
Email: gulshan.br@mutualtrustbank.com

 

 

 

 

 

 

 

 

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

 

 

 

 

Rounded Rectangle: SITE VISIT COMMENTARY

Our Representative Visited the subject company Head office which is situated at Sahera Tropical Tower (9th Floor), 218 Elephant Road, Dhaka-1205, Bangladesh. The subject company General Manager Mr. Abdullah Al- Murtaza given us all information. Is situated at commercial area which is a well decorated modern office.

 

 

 

 

 

 

Rounded Rectangle: GENERAL COMMENTS

Subject is mainly engaged in Manufacturer, Importer & Trader. The subject company maintains acceptable business volume.

Based on the financial statements, SC’s financial performance appears to be below average. Having been in operation for several years, Subject enjoys some recognition and impact in the line.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.26

UK Pound

1

Rs.100.78

Euro

1

Rs.85.29

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SHG

 

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.