MIRA INFORM REPORT

Report Date :

16.01.2014

IDENTIFICATION DETAILS

Name :	FEDERAL CORPORATION

Registered Office :	12, DIT Extension Avenue (1^st floor), Motijheel C/A, Dhaka-1000

Country :	Bangladesh

Date of Incorporation :	2010

Legal Form :	Sole Proprietorships

Line of Business :	Manufacturer and Distributor of Garments Accessories, Carton, Hand Taq, Gum, Tag

No. of Employees :	25

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate
Payment Behaviour :	Slow
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

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	:	FEDERAL CORPORATION
Head Office	:	12, DIT Extension Avenue (1^st floor), Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	88-02-7162535
Fax No	:	88-02-7120837
E-mail	:	Nil
Website	:	Nil
Date/ Year of Incorporation	:	2010
Trade License No.	:	2551
Import License No.	:	RA-0108216
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. 38 Million	Tk. 12.5 Million	Tk. 2.39 Million
July’ 12~June’ 13	Tk. 49 Million	Tk. 14 Million	Tk. 3.20 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. Md. Arman Uddin.
Designation	:	Chef Executive Officer.
Contract No	:	-

Locations Details

Operating Address	:	12, DIT Extension Avenue (1^st floor), Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	88-02-7162535
Fax No	:	88-02-7120837
E-mail	:	Nil
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

200

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	:	Bhuighar, Fatullah, Narayanganj, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

15000

Sq. ft.

Branches:

Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	5	In Factory	:	20
	In Branch:	:	-	Total	:	25
Details:

PROPRIETOR/PARTNERS

Names of Proprietor

Mr. Md. Arman Uddin.

MANAGEMENT

Name	:	Mr. Md. Arman Uddin.
Job Description	:	Chef Executive Officer.
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, Carton, Hand Taq, Gum, Tag
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	Ö		Ö	Others
	Credit :		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			:	India.

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. 14 Million.

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns	:	N/A
Subsidiary	:	N/A
Name of The Group	:	N/A

BANKING

Bank Name	:	Uttara Bank Ltd.
Bank Address	:	Bangabandhu Avenue Branch, Dhaka.

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

The subject company Office is situated at 12, DIT Extension Avenue (1^st floor), Motijheel C/A, Dhaka-1000, Bangladesh.

GENERAL COMMENTS

Based on the financial statements, SC’s financial performance Below Average. SC has been in its line of business for about 4 years.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.59
UK Pound	1	Rs.101.09
Euro	1	Rs.83.99

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.