MIRA INFORM REPORT

Report Date :

27.12.2014

IDENTIFICATION DETAILS

Name :	MUTUAL CONCERN CORPORATION LTD

Registered Office :	Baitul Khair Building (8th floor, Suit# 805), 48/A-B, Purana Paltan, Dhaka-1000

Country :	Bangladesh

Date of Incorporation :	24.06.2010

Com. Reg. No.:	C-85380

Legal Form :	Private Company

Line of Business :	Trader and Importer of Cotton & Cotton Yarn, Food items, Chemicals

No. of Employee :	10

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small company

Payment Behaviour :	Slow but correct

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

IDENTIFICATION DETAILS

Correct company Name	:	Mutual Concern Corporation Ltd
Head Office	:	Baitul Khair Building (8th floor, Suit# 805), 48/A-B, Purana Paltan, Dhaka-1000, Bangladesh
Tel No	:	88-02-9511463
Fax No	:	88-02-9511464
E-mail	:	noushadjbl@gmail.com
Website	:	www.jajbhuiyan.com
Date/ Year of Incorporation	:	24.06.2010
Incorporation No.	:	C-85380
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 55 Million	BDT 1452.75Million	BDT 0.80 Million
July’ 13~June’ 14	BDT 78 Million	BDT 1465.80 Million	BDT 1.51 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. Mohammad Noushad (Masum)
Designation	:	Accountant
Contract No	:	88-01720010129

Locations Details

Operating Address	:	Baitul Khair Building (8th floor, Suit# 805), 48/A-B, Purana Paltan, Dhaka-1000, Bangladesh
Tel No	:	88-02-9511463
Fax No	:	88-02-9511464
E-mail	:	noushadjbl@gmail.com
Website	:	www.jajbhuiyan.com

Location :

: Owned

Rented

Leased

Area

2400

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	:	Noapara, Post Code: 1604, Madhabdi, Narshindi, Bangladesh
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

20,000

Sq. ft.

Branches:

Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	4	Warehouse	:	6
	In Branch:	:		Total	:	10
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Mr. Md. Fayazur Rahman Bhuiyan	600
Mrs. Mourium Akter	400

DIRECTORS

Name	Designation
Mr. Md. Fayazur Rahman Bhuiyan	Managing Director
Mrs. Mourium Akter	Director

MANAGEMENT

Name	:	Mr. Mohammad Noushad (Masum)
Job Description	:	Accountant
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Trader	Ö	Dealer	Distributor

	Exporter	Importer	Ö	Services	Others

Item Dealings In:

Products	:	Cotton & Cotton Yarn, Food items, 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	:	Local Textile Mills
		Overseas Suppliers			:	N/A	Local Suppliers	:	N/A
Trade Markets	:	Exports			:	N/A
		Imports			:	India, China

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

CAPITAL STRUCTURE

Authorized Capital	:	BDT 20 Million
Paid-up Capital	:	BDT100000	No. of Shares	:	1000	Share Value	:	BDT 100.00Each
Main Assets	:	BDT 1465.80 Million

FINANCIAL STATEMENT- DETAILED

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

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns

Jewel Tower

JB Tower

JM Fashion

JB Trader

F.M. textile yarn Trading Ltd.

JAJ Bhuiyan Textile Mills

JAJ Spinning Mills Ltd.

M.M. Knitting & Embroidery Ltd.

Mahid Apparels Ltd.

JAJ Bhuiyan Complex

Mahid Expo. Int. Tex. Ltd.

Zakia Cottontex Ltd.

J.B. Feed Processing Complex Ltd.

J.B. telecom Ltd.

Jonayid Builders Ltd.

Air Touch Complex Ltd.

Subsidiary

N/A

Name of The Group

JAJ Bhuiyan Group

BANKING

Bank Name

Agrani Bank Ltd

Bank Address

Principal Branch

9-D, DilkushaC/A, Motijheel, Dhaka-1000
TEL: 88-02-9551569, 9554497, 9561556,
9553064,9560770
FAX:88- 02-9563658

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 Baitul Khair Building (8th floor, Suit# 805), 48/A-B, Purana Paltan, Dhaka-1000, Bangladesh. It is situated at commercial area & their office is well decorated.

GENERAL COMMENTS

SC is considered small-sized in its line of business. A credit line up to USD 40,000 would appear to be within SC’s capacities.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.63
UK Pound	1	Rs.98.98
Euro	1	Rs.77.74

INFORMATION DETAILS

Analysis Done by :	KAR

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.