|
Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
TARA EXIM
CORPORATION |
|
|
|
|
Registered Office : |
Plot# 44/2 Khan Jahan Ali Road, Khulna |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Year of Establishment : |
2001 |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacturer, Importer & Exporter of Terry Towel & Betel Nut |
|
|
|
|
No of Employees : |
120 (5 In Office & 115 in Factory ) |
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 |
: |
Tara Exim Corporation |
|
Head
Office |
: |
Plot# 44/2 Khan Jahan Ali Road, Khulna, Bangladesh. |
|
Tel
No |
: |
88-041-720611, 01711298777, 01611298777 |
|
Fax
No |
: |
88-041-731253 |
|
E-mail |
: |
|
|
Website |
: |
Nil |
|
Year
of Incorporation |
: |
2001 |
|
Incorporation No. |
: |
N/A |
|
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. 175 Million |
Tk. 18.65 Million |
Tk. 3.65 Million |
|
July’ 12~June’ 13 |
Tk. 210 Million |
Tk. 20.10 Million |
Tk. 4.10 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. Nazmul Ahsan
(Noman) |
|
Designation |
: |
Officer (Export
& Import). |
Locations Details
|
||
|
|
||
|
Operating
Address |
: |
Plot# 44/2 Khan Jahan Ali Road, Khulna, Bangladesh. |
|
Tel
No |
: |
88-041-720611, 01711298777, 01611298777 |
|
Fax
No |
: |
88-041-731253 |
|
E-mail |
: |
|
|
Website |
: |
Nil |
|
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. |
|
|
|
|
|
|
|
Factory: |
|
|
|
|
|
|
|
Address |
: |
Plot# 13-14,
Export Processing Zone Mongla, Bagerhat, Bangladesh. |
|
Tel
No |
: |
N/A |
|
Fax
No |
: |
N/A |
|
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
20000 |
Sq. ft. |
|
Employee: |
|
||||||
|
|
|
||||||
|
No.
of Employees |
In
Office |
: |
5 |
In
Factory |
: |
115 |
|
|
In Branch: |
: |
- |
Total
|
: |
120 |
||
PROPRIETOR/PARTNERS
|
||
|
Names of Proprietor
|
: |
Mr. Ghalib Kapadia |
MANAGEMENT
|
||
|
Name |
: |
Mr. Nazmul Ahsan
(Noman) |
|
Job Description |
: |
Officer (Export
& Import). |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
Ö |
Services |
|
Others |
|
|
Range of Products: |
||
|
Products |
: |
Terry Towel & Betel Nut. |
|
Production
Capacity |
: |
30,000 kg per Month, |
|
Last Year Production |
: |
Do. |
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 |
: |
India, Pakistan |
|
||||||
|
Imports |
: |
Indonesia, Thailand |
|
||||||||
|
|
|
||||||||||
|
Brand Name |
: |
N/A |
|||||||||
|
Certified |
: |
ISO 9001:2008 |
|||||||||
|
Auditors |
: |
N/A |
|||||||||
|
Operation Status |
: |
Active. |
|||||||||
|
Member |
: |
Bangladesh Terry Towel & Linen Manufacturer and Association, |
|||||||||
CAPITAL STRUCTURE
|
||
|
Capital Invested |
: |
Tk. 10 Million |
|
Assets |
: |
Tk. 21.10 Million |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
||
|
Sister Concerns |
: |
Nil |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
Nil |
|
Bank Name |
: |
IFIC Bank Ltd.
|
|
Bank Address |
: |
Khulna Branch. Fatema Building 81,
Lowerr Jessore Road, Khulna Phone: (041)
720396, 720397, 720399 Fax: 041-720399 |
|
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 Plot# 44/2 Khan Jahan Ali Road,
Khulna, Bangladesh. The subject concern Officer (Export & Import) Mr.
Nazmul Ahsan (Noman) welcome us & given us all information. Its office is
decorated by normal furniture. |
GENERAL COMMENTS
|
|
Established in
2001, Subject is mainly engaged in Manufacturer, Importer & Exporter.
Having been in operation for several years, Subject maintains acceptable business
volume. Subject enjoys some recognition and impact in the line. |
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.26 |
|
UK Pound |
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.80.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.