|
Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAHAR TEA ESTATE |
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Registered Office : |
115/7A, |
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Country : |
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Date of Incorporation : |
2009 |
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Legal Form : |
Sole Proprietorships |
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Line of Business : |
Processing, Distributor and Exporter of Tea |
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No of Employees : |
350 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bangladesh |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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
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Correct company Name |
: |
NAHAR TEA ESTATE |
|
Head Office |
: |
115/7A, Distillery Road, Gandaria, Dhaka-1204, Bangladesh. |
|
Tel No |
: |
880-2- 7444101, 7444104, 7440527, 7450275,
7441537 |
|
Fax No |
: |
880-2-7441006, 7449135 |
|
E-mail |
: |
maznul@citygroupbd.com |
|
Website |
: |
www.citygroup.com.bd |
|
Date/ Year of Incorporation |
: |
2009 |
|
Tread License No. |
: |
05-01929 |
|
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’ 12~June’ 13 |
BDT 265 Million |
BDT 42.50
Million |
BDT 11.92
Million |
|
July’ 13~June’ 14 |
BDT 371
Million |
BDT 48.65 Million |
BDT 16.69 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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FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Maznul haque |
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Designation |
: |
DGM |
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Contract No |
: |
88-01730074088 |
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Locations Details |
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Business Address |
: |
115/7A, Distillery Road, Gandaria, Dhaka-1204, Bangladesh. |
|
Tel No |
: |
880-2- 7444101, 7444104, 7440527, 7450275,
7441537 |
|
Fax No |
: |
880-2-7441006, 7449135 |
|
E-mail |
: |
maznul@citygroupbd.com |
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Website |
: |
www.citygroup.com.bd |
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Location : |
: Owned |
Ö |
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Rented |
|
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Leased |
|
Area |
4500 |
Sq. ft. |
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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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Tea Garden: |
||
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Address |
: |
Khajuri Cherra, Srimangal, Moulavibazar,
Bangladesh |
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Tel No |
: |
N/A |
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Fax No |
: |
N/A |
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Owned |
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Rented |
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Leased |
Ö |
Area |
864 |
Acres |
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Processing Plant: |
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Address |
: |
Khajuri Cherra, Srimangal, Moulavibazar,
Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
50 |
Garden |
: |
300 |
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In Branch: |
: |
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Total |
: |
350 |
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Details: |
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PROPRIETOR/PARTNERS |
||
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Names of
Proprietor |
: |
Mr. Fazlur Rahman |
MANAGEMENT |
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Name |
: |
Mr. Maznul Haque |
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Job Description |
: |
Deputy General Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01730074088 |
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|
|
|
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Name |
: |
Mr. Pijush Kanti Bhattacharya |
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Job Description |
: |
Manager (Garden) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS OPERATIONS |
||||||||
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Nature of Activity : |
Processing |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Range of Products: |
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Products |
: |
Tea
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Production Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
|
|
days |
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Selling Terms : |
L/C |
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Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
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60 days |
|
90 days |
|
|
days |
DETAILED DATA |
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
Middle East |
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Imports |
: |
China, India |
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Brand Name |
: |
Nil |
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Certified |
: |
Nil |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
||||||||
CAPITAL STRUCTURE |
||
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Capital Invested |
: |
BDT 50 Million |
|
Assets |
: |
BDT 48.65 Million |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES |
||
|
Sister Concerns |
: |
Grainmark City Oil Mills Ltd. City Fibers Limited City Sugar Industries City Dal Mills Limited City Hair Oil Limited City Feed Products Ltd. City Salt Industries Ltd City Group of Industries City Sugar Industries Ltd. City Group of Industries M. Hasan & Company C.S.I Power & Energy Shampa Oil Mills Limited Hasan Flour Mills Limited Hasan Containers Limited City PET Industries Limited Rahman Oil Mills Limited International Oil Mills Ltd City Re- rolling Mills Ltd Rahman Synthetics Limited Hasan Vegetable Oil Mills Ltd Deepa Food Products Limited VOTT Oil Refineries Limited Farzana Oil Refineries Limited Rahman Coconut Mills Limited City Poultry and Fish Feeds Ltd Hasan Plastic Industries Limited City Seed Crushing Industries Ltd The Asia Pacific Refineries Limited Van Ommeren Tank Terminal Bangladesh Ltd. Hasan Printing & Packaging Industries Limited |
|
Subsidiary |
: |
N/A |
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Name of The Group |
: |
City Group of Industries |
BANKING |
|
|
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Bank Name
|
: |
Bangladesh Krishi
Bank |
|
Bank Address |
: |
Local Branch Dilkusha, Dhaka, Bangladesh |
ADVERSE DATA MONITORING |
||
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Dishonored Checks |
:
|
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record Found |
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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 115/7A, Distillery Road, Gandaria, Dhaka-1204, Bangladesh.. The
subject company Deputy Gnenral Manager Mr. Maznul Haque given us all
information. Is situated at
Residential area which is a well decorated
modern office |
GENERAL COMMENTS |
|
The subject company is a well-known reputed company in
Bangladesh. Their products popular to
the local customers. So day by day the
subject companies increase their goodwill. As well as its financial condition, we recommend that credit may
proceed in moderate amounts. |
|
Adopted Abbreviations: |
||
|
NA- Not Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.97.05 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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.