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Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
BANG JIN (BANGLADESH) LTD. |
|
|
|
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Registered Office : |
Tower Hamlet, 16, Kemal Ataturk Avenue, (4th & 13th Floor),
Banani, Dhaka-1213 |
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Country : |
Bangladesh |
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Date of Incorporation : |
09.02.1995 |
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Com. Reg. No.: |
C-27843 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer & distributor of Foam, Padding & quilting. |
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No. of Employees : |
250 |
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 |
|
|
|
|
Payment Behaviour : |
No Complaints |
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|
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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) |
|
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 |
: |
Bang Jin (Bangladesh)
Ltd. |
|
Head
Office |
: |
Tower Hamlet, 16,
Kemal Ataturk Avenue, (4th & 13th
Floor), Banani, Dhaka-1213, Bangladesh. |
|
Tel
No |
: |
88-02-9883216, 9883406, 8810605, |
|
Fax
No |
: |
88-02-8827054 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/ Year of Incorporation |
: |
09.02.1995 |
|
Incorporation No. |
: |
C-27843 |
|
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~ Jun’12) |
Tk. 175 Million |
Tk. 120 Million |
Tk. 20.5 Million |
|
(July’12~ Jun’13) |
Tk. 189 Million |
Tk. 125 Million |
Tk. 28.6 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 |
|
Information
Parted By
|
||
|
|
|
|
|
Name |
: |
Mr. Qumruzzaman
Nasim. |
|
Designation |
: |
Commercial
Officer. |
|
Contract No |
: |
N/A |
Locations Details
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Business
Address |
: |
Tower Hamlet, 16, Kemal Ataturk Avenue, (4th &
13th Floor), Banani, Dhaka-1213, Bangladesh. |
|
Tel
No |
: |
88-02-9883216, 9883406, 8810605, |
|
E-mail |
: |
|
|
Fax No |
: |
88-02-8827054 |
|
Website |
: |
|
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
4500 |
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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Factory: |
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Address |
: |
Joy Bangla
Sarak, Kunia, K B Bazar, Gazipur, Dhaka, Bangladesh. |
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Tel
No |
: |
88-02-9291516 |
|
Fax
No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
35000 |
Sq. ft. |
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Branches: |
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|
|
|
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Address |
: |
House-45,
Road-7, Block-F, Banani, Dhaka- 1213’Bangladesh. |
|
Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
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Employee: |
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|||||||
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|||||||
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No.
of Employees |
In
Office |
: |
50 |
In
Factory |
: |
200 |
||
|
In Branch: |
: |
- |
Total
|
: |
250 |
|||
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Details: |
|
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|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Mrs. Tahmina
Chowdhury |
5000 |
|
Mr. Nasimul Alam
Chowdhury |
5000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mrs. Tahmina
Chowdhury |
Chairman |
|
Mr. Nasimul Alam
Chowdhury |
Managing Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Qumruzzaman
Nasim. |
|
Job Description |
: |
Commercial Officer. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
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|
|
|||||||
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Exporter |
|
Importer |
|
Services |
|
Others |
|
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Item Dealings In: |
||
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||
|
Products |
: |
Foam, Padding & quilting. |
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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
|
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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 |
: |
N/A |
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||||||
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Imports |
: |
China, India,
Italy. |
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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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Authorized Capital |
: |
Tk.10 Crore. |
|
||||||
|
Paid-up Capital |
: |
Tk. 10, 00,000 |
No. of Shares |
: |
10,000 |
Share Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk. |
|
||||||
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
||
|
Sister Concerns |
: |
BJ Bed Company Ltd.
BJ Bed Weaving Ltd. BJ GEO-Textile Ltd. Universe Synthetic
Fibre Ltd. BJ Trading Ltd. Bankok Cable Ltd. Bang Jin Padding
and Quilting Ltd. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Bang Jin Group |
BANKING
|
||
|
Bank Name |
: |
Uttara Bank
Limited. |
|
Bank Address |
: |
Locial Office
Branch. 129-130, Motijheel
C/A, Dhaka-1000 Tel: 88-02-9552032,
9568627 |
|
|
||
|
Bank Name |
: |
Standard Bank Limited. |
|
Bank Address |
: |
Gulshan Branch. 4/A, Kemal Ataturk
Avenue, Gulshan-2 Dhaka-1212 Tel: 88-02-9881015,
8852679 Fax: 88-02-9885164 |
|
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 |
Our representative
visited the subject company registered address which is situated at Tower Hamlet, 16, Kemal Ataturk Avenue, (4th & 13th Floor), Banani, Dhaka-1213,
Bangladesh.
Repeated attempts to obtain and verify information
from SC were unsuccessful as they declined all information citing
confidentiality. Please note that our credit rating is based on information
gathered from external sources as well as information obtained from past
interviews.
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
UK Pound |
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.84.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.