MIRA INFORM REPORT

 

 

Report Date :

14.02.2014

 

IDENTIFICATION DETAILS

 

Name :

YOUTH ASSOCIATES (BANGLADESH).

 

 

Registered Office :

Flat- A-6, Plot# 35, Sonargaon Jonopath Road, Sector# 7, Uttara, Dhaka-1230

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

2000

 

 

Legal Form :

Partnership 

 

 

Line of Business :

Manufacturer and Distributor of Garments Accessories.      

 

 

No. of Employees :

132

 

 

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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

 

Source : CIA

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

YOUTH ASSOCIATES (BANGLADESH).

Head Office

:

Flat- A-6, Plot# 35, Sonargaon Jonopath Road, Sector# 7, Uttara,

Dhaka-1230, Bangladesh.

Tel No

:

88-02-9292034, 01711538545

Fax No

:

Nil

E-mail

:

youth.associates@gmail.com

Website

:

www.progroupbd.com

Date/ Year of Incorporation

:

2000

Incorporation No.

:

N/A

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. 152 Million

Tk. 20 Million

Tk. 3.32 Million

July’ 12~June’ 13

Tk. 165 Million

Tk. 21.50 Million

Tk. 5.95 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. A. B. Siddiqur.

 

Designation

:

Managing Partner.

 

Contract No

:

-

 

                                                               Locations Details

 

Business Address

:

Flat- A-6, Plot# 35, Sonargaon Jonopath Road, Sector# 7, Uttara,

Dhaka-1230, Bangladesh.

Tel No

:

88-02-9292034, 01711538545

Fax No

:

Nil

E-mail

:

youth.associates@gmail.com

Website

:

www.progroupbd.com

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

 

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

:

Degar Chala, National University, Gazipur, Bangladesh.

Tel No

:

88-02-9292034

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

5500

Sq. ft.

 

 

Registered Address :

 

 

 

 

 

Address

:

27/A/7, Dhakeswary Road, Lalbag, Dhaka, Bangladesh.

Tel No

:

88-02-9669212

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

20

In Factory

:

112

In Branch:

:

-

Total

:

132

Details:

 

                    

 

 

 

PROPRIETOR/PARTNERS

 

Names of Proprietor

               

:

 

Mr. Asadul Haque.

Mrs. Rumana Siddique.

Mr. A. B. Siddique.

 

 

 

MANAGEMENT

 

Name

:

Mr. A. B. Siddiqur.

Job Description

:

Managing Partner.

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

 

Item Dealings In:

 

Products

:

Garments Accessories.      

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, Pakistan, Italy.

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active.

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Capital Invested

:

Tk. 10 Million.

 Assets

:

Tk. 21.50 Million.

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Master Washing Ltd.

Pro Makers Ind. Ltd.

Pro Makers Agro Ind. Ltd.

Pro Makers Sweaters Ind. Ltd.

Mysha Homes Ltd.

Subsidiary

:

N/A

Name of  The Group

:

Pro Group.

 

 

BANKING

 

Bank Name  

:

Southeast Bank Limited.

Bank Address

:

Imamganj Branch Dhaka.

Bhuiyan Market, 163/2, Metford Road, Dhaka

Phone: 7314801, 7316423, 7318567, 7316644

Fax: 88 - 02 - 7314801

Tlx: 632413 SBIMG BJ

Swift: SEBDBDDHIMG

 

Bank Name  

:

Jamuna Bank Limited.                                                                                       

Bank Address

:

Moulavi Bazar Bazar Branch.

Mostakim Mansion, 77/3, Moulvi Bazar, Dhaka

Tel: 77315026, 7315974-5

 

 

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 Flat- A-6, Plot# 35, Sonargaon Jonopath Road, Sector#7, Uttara, Dhaka-1230, Bangladesh. The subject company Managing Partner Mr. A. B. Siddiqur welcome us & given us all information. Its office is situated at Residential area which is a normal flat but well decorated.

 

 

GENERAL COMMENTS

 

Whilst interviewed, Mr. A. B. Siddiqur Managing Partner of the subject, provided us with a basic outline of the subject's present state-of-affairs (as given above). SC is considered medium-sized in its line with fairly stable financial conditions.

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.27

UK Pound

1

Rs.103.47

Euro

1

Rs.84.87

 

 

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

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.