MIRA INFORM REPORT

Report Date :

18.12.2014

IDENTIFICATION DETAILS

Name :	DHAKA HIDE AND SKINS LTD.

Registered Office :	147, Hazaribagh Tannery Area, Dhaka-1209,

Country :	Bangladesh

Date of Incorporation :	23.09.1982

Com. Reg. No.:	C-10250

Legal Form :	Private Co

Line of Business :	Distributor & Services of All kinds of Chemicals.

No. of Employees	700

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Bangladesh

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

Correct company Name	:	DHAKA HIDE AND SKINS LTD.
Head Office	:	147, Hazaribagh Tannery Area, Dhaka-1209, Bangladesh.
Tel No	:	88-02-862874, 9669849
Fax No	:	88-02-8613515
E-mail	:	dhs@rashidgroupbd.com rassidgroup@global-bd.net
Website	:	Nil
Date/ Year of Incorporation	:	23.09.1982
Incorporation No.	:	C-10250
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. 350 Million	Tk. 2150.60 Million	Tk. 86.25 Million
July’ 12~June’ 13	Tk. 465 Million	Tk. 2434.35 Million	Tk. 105.47 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. Rezaul Karim.
Designation	:	Deputy General Manager.
Contract No	:	88-01711538392

Locations Details

Operating Address	:	147, Hazaribagh Tannery Area, Dhaka-1209, Bangladesh.
Tel No	:	88-02-862874, 9669849
Fax No	:	88-02-8613515
E-mail	:	dhs@rashidgroupbd.com, rassidgroup@global-bd.net
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

1800

Sq. ft.

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

Factory:

Address	:	147, Hazaribagh Tannery Area, Dhaka-1209, Bangladesh.
Tel No	:	88-02-862874, 9669849
Fax No	:	88-02-8613515

Location :

Owned

Rented

Leased

Area

5500

Sq. ft.

Registered Address:

Address	:	88, Shere- E Bangla Nagar, Dhaka-1000, Bangladesh.
Tel No	:	88-02-8628274, 8613515
Fax No	:	88-02-9669849

Employee:

No. of Employees	In Office	:	30	In Factory	:	670
	In Branch:	:	-	Total	:	700
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Mr. Mohiuddin Bhuiyan	193000
Mr. Shamsuddin Bhuiyan	193000
Mrs. Parvin Akhter	148000
Mrs. Nasreen Akhter	148000
Mr. Md. Mostafa	45000
Mr. Ahsan Habib Bhuiyan	158750
Mr. Md. Mohsin	95000
Mr. Md. Abdur Rahim	45000
Mr. Abdul Motaleb	45000
Mr. Md. Jamal	45000
Mr. Md. Mofizur Rahman Bhuiyan	25000
Mr. Mahbubur Rahman	45000
Mrs. Aleya Begum	28125
Miss Abida Sultana	31875
Miss Aziza Sultana	31875
Miss Akida Sultana	31875
Mr. Joynal abedin Chowdhury	20000
M. A. Rashid Bhuiyan	660500
Mrs. Feroza Begum	275000
Mr. Joynal Abedin Bhuiyan	235000

DIRECTORS

Name	Designation
Mr. M. A. Rasid Bhuiyan	Managing Director
Mrs. Feroza Begum	Director

MANAGEMENT

Name	:	Mr. Rezaul Karim.
Job Description	:	Deputy General Manager.
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	88-01711538392

Name	:	Mr. Jakir.
Job Description	:	Import Officer.
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	88-01817550995

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Trader		Dealer	Distributor	Ö

	Exporter	Importer	Ö	Services	Others

Item Dealings In:

Products	:	All kinds of Chemicals.
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, Singapore, Malaysia.

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

CAPITAL STRUCTURE

Authorized Capital	:	Tk. 150, 00,00,000
Paid-up Capital	:	Tk. 25, 00,00,000	No. of Shares	:	25, 00,000	Share Value	:	Tk.100.00Each
Main Assets	:	Tk. 2434.35 Million.

FINANCIAL STATEMENT- DETAILED

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

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns

Dhaka Earth Int’L Tannery.

Amrf Chemical Co.

Dhaka Leather Craft Ltd.

Dhaka Leather Garments Ltd.

Subsidiary

N/A

Name of The Group

N/A

BANKING

Bank Name

Agrani Bank Ltd.

Bank Address

Ramna Branch.

18, Bangabandhu Avenue

P.O.-Gpo,P.S.-Ramna

Dhaka-1000

Phone: 7160070

Email: br2531@bangla.net

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 address at 147, Hazaribagh Tannery Area, Dhaka-1209, Bangladesh. The subject company Deputy General Manager Mr. Rezaul Karim Deputy General Manager welcome us & given us all information. Its office is decorated by western furniture.

GENERAL COMMENTS

Based on the financial statements, SC’s financial performance appears to be average. SC has been in its line of business for about 31 years. Taking into account its long-standing history, reputation in the market, as well as its financial condition, we recommend that credit may proceed in moderate amounts.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.58
UK Pound	1	Rs.99.98
Euro	1	Rs.79.39

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	ANK

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.