MIRA INFORM REPORT

 

 

Report Date :

16.08.2014

 

IDENTIFICATION DETAILS

 

Name :

RAMISHA ENTERPRISE

 

 

Registered Office :

45, Dilkusha C/A, (3rd floor, Room# 403), Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

2000

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer and Distributor of Fruits, Spices and Raw Cotton

 

 

No of Employees :

45

 

 

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 :

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

B1

A2

 

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

:

RAMISHA ENTERPRISE

Head Office

:

45, Dilkusha C/A, (3rd floor, Room# 403), Dhaka-1000, Bangladesh.

Tel No

:

88-02-9572080, 7120994

Fax No

:

88-02-9571630

E-mail

:

nazrul.fific@gmail.com

ramisha.enterprise@gmail.com

Website

:

N/A

Date/ Year of Incorporation

:

2000

Incorporation No.

:

02023998

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. 205 million

Tk. 16 million

Tk. 2.20 million

July’ 12~June’ 13

Tk. 331 million

Tk. 20.50 million

Tk. 6.62 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. Reazul Hasan

Designation

:

Accounts Officer

Contract No

:

-

 

 

Locations Details

 

Business Address

:

45, Dilkusha C/A, (3rd floor, Room# 403), Dhaka-1000, Bangladesh.

Tel No

:

88-02-9572080, 7120994

Fax No

:

88-02-9571630

E-mail

:

nazrul.fific@gmail.com

ramisha.enterprise@gmail.com

Website

:

N/A

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

1500

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

 

 

Show Room:

 

 

 

 

 

Address

:

Narayanganj, Badamtoli, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Branches:

 

 

 

 

 

Address

:

N/A

Tel No

:

N/A

Fax No

:

N/A

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

45

In Factory

:

-

In Branch:

:

-

Total

:

45

Details:

 

                    

 

 

 

PROPRIETOR/PARTNERS

Names of Proprietor

               

:

 

Mr. Md. Nazrul Islam

 

 

MANAGEMENT

 

Name

:

Mr. Monirul Islam Mohon

Job Description

:

General Manager

Nationality

:

Bangladeshi

Email address

:

-

Other details

:

-

 

Name

:

Mr. Nazrul Islam

Job Description

:

Proprietor

Nationality

:

Bangladeshi

National ID No

:

2697683237530

Birth Date

:

10th  June 1965

 

BUSINESS OPERATIONS

 

 

Nature of Activity       :

Manufacturer

 

Trader

 

Dealer

 

Distributor

Ö

 

 

 

 

 

Exporter

 

Importer

Ö

Services

 

Others

 

 

 

 Item Dealings In:

 

Products

:

Fruits, Spices & Raw Cotton

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

:

China, India, USA, Canada, Brazil

 

 

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

N/A

Operation Status

:

Active

Member

:

N/A

 

 

 

 

CAPITAL STRUCTURE

 

Capital Invested

:

Tk. 10 Million

 Assets

:

Tk. 16 Million

 

 

 

 

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Fareast Cold Storage Ltd.

Surmi Cold Storage Ltd.

Punot Cold Storage Ltd.

Fareast Islami Life Insurance Co. Ltd.

Advance Jute Mills Ltd.

Prime Polymer (Ind.) Pte. Ltd.

Fareast Islami Securities Ltd.

Just International School & College

Advance Sweater Industries Ltd.

Subsidiary

:

N/A

Name of  The Group

:

Ramisha Group

 

BANKING

 

 

Bank Name  

:

Islami Bank Bangladesh Ltd.

 

Bank Address

:

Foreign Exchange Branch

41 Dilkusha C/A, Dhaka-1000

Phone:88- (02) 9565657, 9569413, 9552444

Mobile:88- 01711693906, 01713164489

Fax:88- (02) 9569412

Email: fex@islamibankbd.com

 

Bank Name  

:

Premier Bank Ltd.

 

Bank Address

:

Dilkusha Branch

44, Dilkusha C/A, Dhaka – 1000

Tel: 880-2-9552303, 880-2-9569180, 880-2-9552328

Fax: 880-2-9552801

Telex: 642552 PRBDB BJ S.W.I.F.T.: PRMRBDDHDIL

 

Bank Name  

:

Al-Arafa Islami Bank Ltd.

 

Bank Address

:

Gulshan Branch

Hosna Center 106, Gulshan Avenue Dhaka

Ph: 88-02-9886271 9863236 01714-035157,

01713-123503

Fax: 88-02-9863236

 

Bank Name  

:

Shajalal Islami Bank Ltd.

 

Bank Address

:

Kawran Bazar Branch

T K Bhaban, 13 Kazi Nazrul Islam Avenue,

Kawran Bazar, Dhaka

Phone: 02-9114044, 9122396

Fax: 02-9126604

 

 

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 45, Dilkusha C/A, (3rd floor, Room# 403), Dhaka-1000, Bangladesh. The subject company Accounts Officer Mr. Reazul Hasan given us all information. Is situated at commercial area which is a well decorated modern office.

 

 

GENERAL COMMENTS

 

Based on the financial statements, SC’s financial performance appears to be below average. SC has been in its line of business for about 14 years. Taking into account its long-standing history, reputation in the market, as well as its financial condition, we recommend that Credit should be extended under guarantee C.O.D to small amount.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.05

UK Pound

1

Rs.101.84

Euro

1

Rs.81.55

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

TPT

 

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.