MIRA INFORM REPORT

Report Date :

05.08.2014

IDENTIFICATION DETAILS

Name :	SIAM FRUIT AGENCY

Registered Office :	16/B-1 Ahsanullah Road, Badamtaly, Dhaka-1100

Country :	Bangladesh

Year of Establishment :	2006

Legal Form :	Sole Proprietorships

Line of Business :	Distributor and Importer of Fresh fruits.

No of Employees :	5

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 – June 01, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Bangladesh

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

IDENTIFICATION DETAILS

Correct company Name	:	Siam Fruit Agency
Head Office	:	16/B-1 Ahsanullah Road, Badamtaly, Dhaka-1100, Bangladesh.
Tel No	:	88-01819409778, 01711538537
Fax No	:	Nil
E-mail	:	Nil
Website	:	Nil
Date/ Year of Incorporation	:	2006
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)

FINANCIALS- SUMMARY

Year	Turnover/ Sales	Assets	Income
July’ 11~June’ 12	Tk. 75 Million	Tk. 95 Million	Tk. 2.50 Million
July’ 12~June’ 13	Tk. 118 Million	Tk. 102.75 Million	Tk. 3.15 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

FULLCHECK REPORT DETAILS

*Information Parted By*

Name	:	Mr. Anis
Designation	:	Manager
Contract No	:	-

*Locations Details*

Operating Address	:	16/B-1 Ahsanullah Road, Badamtaly, Dhaka-1100, Bangladesh.
Tel No	:	88-01819409778, 01711538537
Fax No	:	Nil
E-mail	:	Nil
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

250

Sq. ft.

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

Warehouse:

Address	:	16/B-1 Ahsanullah Road, Badamtaly, Dhaka-1100, Bangladesh.
Tel No	:	88-01819409778, 01711538537
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

1800

Sq. ft.

Branches:

Address	:	19/8, Shahjahan Miah lane, Badamtaly, Dhaka-1100, Bangladesh.
Tel No	:	88- 01712576353
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	5	In Factory	:	-
	In Branch:	:	-	Total	:	5
Details:

PROPRIETOR/PARTNERS

Names of Proprietor

Mr. Siam Ahmed Kafil

MANAGEMENT

Name	:	Mr. Haji Mohammad Shafiuddin
Job Description	:	Chief Financial Officer
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Anis
Job Description	:	Manager
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Trader		Dealer	Distributor	Ö

	Exporter	Importer	Ö	Services	Others

Item Dealings In:

Products	:	Fresh fruits.
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		Cash	Ö	Others
	Credit :	Ö	30 days		60 days		90 days			days

DETAILED DATA

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			:	USA, China, South Africa, Egypt, Brazil and Australia

Brand Name			:	N/A
Certified			:	N/A
Auditors			:	N/A
Operation Status			:	Active
Member			:	N/A

CAPITAL STRUCTURE

Capital Invested	:	Tk. 7 Million
Assets	:	Tk. 102.75 Million

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns

Famous Fruit Agency

Fruit Trade Center

Subsidiary

N/A

Name of The Group

N/A

BANKING

Bank Name

Bank Asia Ltd.

Bank Address

Babu Bazar Branch

Dhaka, 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 Representative Visited the subject company Head office which is situated at 16/B-1 Ahsanullah Road, Badamtaly, Dhaka-1100, Bangladesh. The subject company Manager Mr. Anis given us all information. Is situated at commercial area which is a well decorated modern office.

GENERAL COMMENTS

Established in 2006, Subject is mainly engaged in Importer & Distributor. Having been in operation for several years, Subject maintains acceptable business volume. Subject enjoys some recognition and impact in the line.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 61.01
UK Pound	1	Rs. 102.69
Euro	1	Rs. 81.90

INFORMATION DETAILS

Analysis Done by :	SMT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.