MIRA INFORM REPORT
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Report Date : |
27.01.2014 |
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 Co |
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Line of Business : |
Manufacturer and Exporter of Shirts, Jackets, Pants,
Generators |
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No. of Employees : |
1292 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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
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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 |
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
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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 : |
: 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 |
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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
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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 |
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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 |
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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 : |
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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
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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
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: |
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
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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. Reputation in the market, as well as its financial condition, we recommended that Credit can proceed promptly in Fairly large amount |
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Adopted
Abbreviations: |
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NA- Not Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
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|
1 |
Rs.103.38 |
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Euro |
1 |
Rs.85.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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 |
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<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.