|
Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
NATIONAL SEAFOOD INDUSTRIES LTD. |
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Registered Office : |
15, |
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Country : |
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Date of Incorporation : |
20.12.1984 |
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Com. Reg. No.: |
C-13413 |
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Legal Form : |
Private Co
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Line of Business : |
Subject is engaged in Processing & Exporter of Telecommunications
equipment. |
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|
No of Employees : |
500 (In Office – 50, In Factory - 450) |
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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|
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
IDENTIFICATION DETAILS
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|
Correct
company Name |
: |
National Seafood Industries Ltd. |
|
Head
Office |
: |
15, Haji Mohsan Road (1st Floor) Khunna,
Bangladesh. |
|
Tel
No |
: |
88-041-721928, 725779, 811859, 722635 |
|
Fax
No |
: |
88-041-721855,
731274 |
|
E-mail |
: |
osel.khulna@bangla.net |
|
Website |
: |
Nil |
|
Date/
Year of Incorporation |
: |
20.12.1984 |
|
Incorporation No. |
: |
C-13413 |
|
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
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|||
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|||
|
Year |
Turnover/ Sales |
Assets |
Income |
|
July’
11~June’ 12 |
Tk. 322 Million |
Tk. 24.20 Million |
Tk.17.90 Million |
|
July’
12~June’ 13 |
Tk. 380 Million |
Tk. 28.65 Million |
Tk. 33.37 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. Kamruzzaman
Tuhin. |
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Designation |
: |
Commercial
Manager. |
|
Contract No |
: |
- |
|
Locations Details |
||
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Operating
Address |
: |
15, Haji Mohsan Road (1st Floor) Khunna, Bangladesh. |
|
Tel
No |
: |
88-041-721928, 725779, 811859, 722635 |
|
Fax
No |
: |
88-041-721855,
731274 |
|
E-mail |
: |
nsfil.khulna@bangla.net osel.khulna@bangla.net |
|
Website |
: |
Nil |
|
Location : |
: Owned |
|
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Rented |
Ö |
|
Leased |
|
Area |
1800 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
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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Processing
Plant: |
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Address |
: |
Chor Rupsha,
Bagmara, Khulna, Bangladesh. |
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Tel
No |
: |
88-041-811169, 800181 |
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Fax
No |
: |
Nil |
|
Owned |
Ö |
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Rented |
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Leased |
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Area |
15000 |
Sq. ft. |
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Branches: |
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|
Address |
: |
Nil |
|
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 |
In Factory |
: |
450 |
||
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In Branch: |
: |
- |
Total
|
: |
500 |
|||
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
|
Mr. Abdul Latif |
250 |
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Mrs. Razia Begum |
250 |
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Mr. Abu bakr Siddiqur |
500 |
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Mr. Bashir Ahmed |
500 |
|
Mr. Kamaruddin Ahmed |
500 |
|
Mr. Salahuddin Ahmed |
500 |
DIRECTORS
|
|
|
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|
Name |
Designation |
|
Mr. Dr. SaiyadAbu
Afsher |
Managing Director |
|
Mr. Abdul Latif |
Director |
|
Mrs. Razia Begum |
Director |
|
Mr. Abu bakr Siddiqur |
Director |
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Mr. Bashir Ahmed |
Director |
|
Mr. Kamaruddin Ahmed |
Director |
|
Mr. Salahuddin Ahmed |
Director |
MANAGEMENT
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||
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||
|
Name |
: |
Mr. Kamruzzaman Tuhin. |
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Job
Description |
: |
Commercial Manager. |
|
Nationality |
: |
Bangladeshi. |
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Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
|
|
|
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|
Name |
: |
Mr. Md. Ashad Hossain. |
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Job
Description |
: |
Assistant Commercial. |
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Nationality |
: |
Bangladeshi. |
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Email
address |
: |
N/A |
|
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 |
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|||||||
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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 |
: |
Fish, Shrimps.
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Production
Capacity |
: |
N/A |
|
Last Year Production |
: |
N/A |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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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
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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 |
: |
UK, USA |
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Imports |
: |
N/A |
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Brand Name |
: |
N/A |
|||||||||
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Certified |
: |
N/A |
|||||||||
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Auditors |
: |
N/A |
|||||||||
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Operation Status |
: |
Active. |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk. 10 Million. |
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Paid-up
Capital |
: |
Tk. 2, 50,000 |
No. of Shares |
: |
2500 |
Share Value |
: |
Tk.100.00Each |
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Main
Assets |
: |
Tk. 28.65 Million. |
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FINANCIAL STATEMENT- DETAILED
|
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The
subject company don’t submit update full financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
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||
|
Sister
Concerns |
: |
Podma Dayaganistic. Mohanager Dayaganistic
Limited. City Nursing Home. Hotel Ambassador. |
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Subsidiary |
: |
N/A |
|
Name of
The Group |
: |
N/A |
BANKING
|
|
|
|
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Bank
Name |
: |
Janata Bank Ltd. |
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Bank
Address |
: |
Khan A Sabur Road Corp Branch Swift:
Janbbddhkda |
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Adverse data monitoring
|
||
|
|
|
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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 15, Haji Mohsan Road (1st Floor)
Khunna, Bangladesh. The subject company Commercial Manager Mr. Kamruzzaman
Tuhin given us all information. Is situated at Commercial area which is a
well decorated office. |
GENERAL COMMENTS
|
|
|
|
Subject is Bangladesh’s
leading communications company engaged in Processing & Exporter of
Telecommunications equipment. The company exports their
products all over the world. We recommended that credit may proceed in
moderate amounts. |
|
Adopted
Abbreviations: |
||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.12 |
|
|
1 |
Rs. 103.93 |
|
Euro |
1 |
Rs. 85.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.