|
Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
NARSINGDI JUTE TRADER. |
|
|
|
|
Registered Office : |
9-G, Motijheel C/A (3rd Floor), Dhaka-1000 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Year of Establishment : |
1980 |
|
|
|
|
Legal Form : |
Partnership
Concern |
|
|
|
|
Line of Business : |
Exporter of Raw Jute, Jute cutting and Jute waste |
|
|
|
|
No of Employees : |
21 (Office) |
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 : |
Slow But Correct |
|
|
|
|
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
Bangladesh ECONOMIC OVERVIEW
Bangladesh's economy has grown roughly 6% per year since 1996 despite
political instability, poor infrastructure, corruption, insufficient power supplies,
slow implementation of economic reforms, and the 2008-09 global financial
crisis and recession. Although more than half of GDP is generated through the
service sector, almost half of Bangladeshis are employed in the agriculture
sector with rice as the single-most-important product. Garment exports, the
backbone of Bangladesh’s industrial sector and 80% of total exports, surpassed
$21 billion last year, 18% of GDP. The sector has remained resilient in recent
years amidst a series of factory accidents that have killed over 1,000 workers
and crippling strikes that shut down virtually all economic activity. Steady
garment export growth combined with remittances from overseas Bangladeshis,
which totaled almost $15 billion and 13% of GDP IN 2013, are the largest
contributors to Bangladesh’s current account surplus and record foreign
exchange holdings
|
Source : CIA |
IDENTIFICATION DETAILS
|
||
|
|
||
|
Correct
concern Name |
: |
Narsingdi Jute
Trader. |
|
Head
Office |
: |
9-G, Motijheel C/A (3rd Floor),
Dhaka-1000, Bangladesh. |
|
Tel
No |
: |
88-02-9551025, 7176935, 01196157469,
01711696961 |
|
Fax
No |
: |
88-02-9553428 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/
Year
of Incorporation |
: |
1980 |
|
Tread License No. |
: |
530 |
|
Tax Identification No (Tin) |
: |
1250000200 |
|
Legal
Form (General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole
Proprietorship 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. 165 Million. |
Tk. 12 Million |
Tk. 2.45 Million |
|
July’ 12~June’ 13 |
Tk. 179 Million |
Tk. 13.65 Million |
Tk. 3.78 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. Ganash Saha. |
|
Designation |
: |
Manager. |
|
Contact No |
: |
88-01711696961 |
Locations Details
|
||
|
|
||
|
Operating
Address |
: |
9-G, Motijheel C/A (3rd Floor),
Dhaka-1000, Bangladesh. |
|
Tel
No |
: |
88-02-9551025, 7176935, 01196157469,
01711696961 |
|
Fax
No |
: |
88-02-9553428 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
1500 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential
Bldg. |
|
|
|
|
|
|
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Warehouse: |
|
|
|
|
|
|
|
Address |
: |
Co Operative Premises,
God nil, Narayangonj, Bangladesh. |
|
Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
|
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
20000 |
Sq. ft. |
|
Employee: |
|
||||||
|
No.
of Employees |
In
Office |
: |
21 |
In
Factory |
: |
- |
|
|
In Branch: |
: |
- |
Total
|
: |
21 |
||
PROPRIETOR/PARTNERS
|
||
|
Names of Partner
|
: |
M.D. Shahjahan, Managing Partner Shohrab Hossain, Partner Mrs. Zerina Yeasmin, Partner |
MANAGEMENT
|
||
|
Name |
: |
Mr. Ganash Saha. |
|
Job Description |
: |
Manager. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01711696961 |
|
Nature
of Activity : |
Manufacturer |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
|
Services |
|
Others |
|
|
Item Dealings In: |
||
|
Products |
: |
Raw Jute, Jute cutting and Jute waste. |
|
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 |
Cash |
|
Others |
|
|
|||
|
|
Credit
: |
|
30
days |
|
60
days |
Ö |
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 |
: |
China, Pakistan,
India, Australia, |
|
||||||
|
Imports |
: |
China, India. |
|
||||||||
|
|
|
||||||||||
|
Brand Name |
: |
N/A |
|||||||||
|
Certified |
: |
N/A |
|||||||||
|
Auditors |
: |
N/A |
|||||||||
|
Operation Status |
: |
Active. |
|||||||||
|
Member |
: |
Bangladesh Jute & Exporters Association (BJGA). Bangladesh Jute Goods Association (BJGA). |
|||||||||
CAPITAL STRUCTURE
|
||
|
Capital Invested |
: |
Tk. 10 Million |
|
Assets |
: |
Tk. 13.65 Million |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
||
|
Sister Concerns |
: |
Jahan Fabrics. Madina Jute
Industries Ltd. Jahan Textile
Mills. Shamsher Jute Mills
Ltd. Jahan Traders. Fibres
International Ltd. Bengal Jute &
Burlap Agencies. Jahan Enterprise. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Jahan Group of
Industries. |
|
Bank Name |
: |
Agrani Bank
Ltd.
|
|
Bank Address |
: |
Bangabandhu Road
Branch 32, Bangabandhu Road,
Narayangonj-1400 TEL:88- 02-7630173,
7630090, 7630165 FAX: 88-02-7630090 |
|
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 concern address at 9-G, Motijheel C/A (3rd Floor),
Dhaka-1000, Bangladesh. The subject concern Manager Mr. Ganash Saha welcome
us & given us all information. Its office is decorated well. |
GENERAL COMMENTS
|
|
Based on the
financial statements, SC’s financial performance appears to be Fairly High.
SC has been in its line of business for about 33 years. |
|
Adopted
Abbreviations: |
||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.14 |
|
UK Pound |
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.