MIRA
INFORM REPORT
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Report Date : |
12.02.2014 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL TRADING SERVICES LTD |
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Registered Office : |
Civil Engineer Bhaban , 69, Mohakhali C/A, Dhaka-1212 |
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Country : |
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Date of Incorporation : |
31-07.1980 |
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Com. Reg. No.: |
C-8250 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Distributor, Exporter, Importer and Washing of Shirts,
Jackets, Pants, Generators |
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No. of Employees : |
1292 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Bangladesh |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BANGLADESH - ECONOMIC OVERVIEW
In real terms Bangladesh's
economy has grown 5.8% per year since 1996 despite political instability, poor
infrastructure, corruption, insufficient power supplies, and slow
implementation of economic reforms. Bangladesh remains a poor, overpopulated,
and inefficiently-governed nation. Although more than half of GDP is generated
through the service sector, 45% of Bangladeshis are employed in the agriculture
sector with rice as the single-most-important product. Bangladesh's growth was
resilient during the 2008-09 global financial crisis and recession. Garment
exports, totaling $12.3 billion in FY09 and remittances from overseas
Bangladeshis, totaling $11 billion in FY10, accounted for almost 12% of GDP.
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Source
: CIA |
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
INTERNATIONAL
TRADING SERVICES LTD |
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Head Office |
: |
Civil Engineer Bhaban , 69, Mohakhali C/A, Dhaka-1212, Bangladesh |
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Tel No |
: |
88-02-9862003,98888872-3 |
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Fax No |
: |
88-02-9297897 |
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E-mail |
: |
info@standard-group.com |
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Website |
: |
- |
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Date/ Year of Incorporation |
: |
31-07.1980 |
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Incorporation No. |
: |
C-8250 |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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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 |
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|
2011 |
Tk. 320 Million |
Tk. 10 Crore |
Tk.2.65Million |
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2012 |
Tk. 345 Million |
Tk. 11 Crore |
Tk.3.80 million |
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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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Sales Trend – Analysis: |
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2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
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- |
- |
- |
- |
- |
- |
- |
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FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. H. Talukder |
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Designation |
: |
Country Manager |
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Contract No |
: |
88-01715042720 |
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Locations Details |
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Business Address |
: |
Civil Engineer Bhaban , 69, Mohakhali C/A, Dhaka-1212, Bangladesh |
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Tel No |
: |
88-02-9862003,98888872-3 |
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E-mail |
: |
88-02-9297897 |
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Fax No |
: |
info@standard-group.com |
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Website |
: |
- |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
3400 |
Sq. ft. |
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Type of Office :
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: 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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Factory: |
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Address |
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Plot # 656, 661 (Ground & 1st Floor), Jarun, Konabari, Gazipur
Sadar, Gazipur, Bangladesh |
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Tel No |
: |
88-02-9297062-8 |
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Fax No |
: |
- |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
38500 |
Sq. ft. |
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Branches-1: |
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Address |
: |
BJMEA Bhaban(4th Floor), Kawran
Bazar, Dhaka, Bangladesh |
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Tel No |
: |
88-02-9662007 |
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Fax No |
: |
- |
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Location : |
Owned |
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Rented |
Ö |
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Leased |
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Area |
1200 |
Sq. ft. |
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Branches-2: |
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Address |
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401/B, Tejgaon I/A, Tejgaon, Dhaka,
Bangladesh |
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Tel No |
: |
88-02- |
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Fax No |
: |
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Location : |
Owned |
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Rented |
Ö |
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Leased |
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Area |
1800 |
Sq. ft. |
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Employee: |
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No. of
Employees |
In Office |
: |
45 |
In Factory |
: |
1247 |
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In Branch: |
: |
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Total |
: |
1292 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of
Shareholders |
No. of Share |
|
Engr. Md. Atiqur Rahman |
1000 |
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Engr. A.K.M. Mosharaf Hussain |
1000 |
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Ms. Husne Ara Begum |
39800 |
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Ms. Mahmuda Begum |
1000 |
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Ms. Tasmiah Rahman |
1000 |
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Mr. Hashnat Mosharaf |
398000 |
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Ms. Faria Rahman |
398000 |
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Mr. Faheem Mosharaf |
1000 |
DIRECTORS
|
Name |
Designation |
|
Engr. A.K.M. Mosharaf Hussain |
Managing Director |
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Ms. Husne Ara Begum |
Director |
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Ms. Mahmuda Begum |
Director |
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Mr. Hashnat Mosharaf |
Director |
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Ms. Faria Rahman |
Director |
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Engr. Md. Atiqur Rahman |
Director |
MANAGEMENT
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Name |
: |
Mr. H. Talukder |
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Job Description |
: |
Country Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
- |
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Other details |
: |
88-01715042720 |
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Name |
: |
Mr. Mustofa Kamal |
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Job Description |
: |
Manager(Wash) |
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Nationality |
: |
Bangladesh |
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Email address |
: |
- |
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Other details |
: |
88-01714085648 |
BUSINESS OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
Ö |
Importer |
Ö |
Services |
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Wash |
Ö |
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Range of
Products/Item Dealings In: |
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Products |
: |
Shirts, Jackets, Pants, Generators
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Production
Capacity |
: |
40,000 Doz Per year |
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Last Year
Production |
: |
Do |
Trading Terms:
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Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
Ö |
Cash |
Ö |
Others |
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|||
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Credit : |
|
30 days |
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60 days |
Ö |
90 days |
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|
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 |
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Exports |
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USA, Europe |
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Imports |
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China, India |
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Brand Name |
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N/A |
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Certified |
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Nil |
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Auditors |
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Nil |
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Operation Status |
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Active |
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Member |
: |
Bangladesh Garments
Manufacturer & Exporters Association |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk.15 Crore |
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Paid-up
Capital |
: |
Tk.12,00,00,000 |
No.
of Shares |
: |
12,00,000 |
Share Value |
: |
Tk.100.00Each |
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Main
Assets |
: |
Tk.11 Crore |
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FINANCIAL STATEMENT- DETAILED
The subject company don’t submit update financial figure to local
registry office.
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
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Sister Concerns |
: |
The Civil Engineers Ltd Standard Garments Ind. Ltd. Standard Stitches Limited Standard Group Limited Standard Garments Industries Ltd., Standard Insurance Ltd. |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Standard Group |
BANKING
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Bank Name |
: |
United Commercial Bank Limited
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Bank Address |
: |
Mohakhali Branch Medona Tower 28, Mohakhali C/A, Dhaka. Tel: 88-01711-881052 |
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Bank Name |
: |
Pubali Bank Limited |
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Bank Address |
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Mohakhali Branch, 99, Mohakhali Comm. Area Tel: 880 2 8811044 |
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 address which is situated at Civil Engineer
Bhaban , 69, Mohakhali C/A, Dhaka-1212, Bangladesh
GENERAL COMMENTS
Established in 1980, the subject is mainly engaged in Manufacturer,
Washing, Exporter, Importer & Distributors. Having been in operation for
several years, the subject maintains accepted business volume.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.44 |
|
|
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.85.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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 |
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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 |
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---- |
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.