|
Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAJ BHUIYAN
TEXTILE MILLS |
|
|
|
|
Registered Office : |
House # 322 (Ground Floor), Lane # 05, New DOHS Baridhara, Dhaka-1212 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
20.03.2002 |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacturer, Exporter & Distributor of Yarn & Grey Fabrics. |
|
|
|
|
No of Employees : |
1500 (20 in office &
1480 in Factory) |
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 |
|
|
|
|
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 |
: |
Jaj Bhuiyan Textile
Mills |
|
Head
Office |
: |
House # 322 (Ground
Floor), Lane # 05, New DOHS Baridhara, Dhaka-1212, Bangladesh. |
|
Tel No |
: |
88-02-8416905 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date / Year of Incorporation |
: |
20.03.2002 |
|
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) |
|
Year |
Turnover/ Sales |
Assets |
Income |
|
July’ 11~June’ 12 |
Tk. 265 Million |
Tk. 505.25 Million |
Tk. 11.06 Million |
|
July’ 12~June’ 13 |
Tk. 320 Million |
Tk. 210.47 Million |
Tk. 14.45 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. Asddul Hoque
Mukul |
|
Designation |
: |
Commercial
Manager. |
|
Contact No |
: |
88-01833324007 |
Locations Details
|
||
|
|
||
|
Operating
Address |
: |
House # 322 (Ground Floor), Lane # 05, New DOHS
Baridhara, Dhaka-1212, Bangladesh. |
|
Tel
No |
: |
88-02-8416905 |
|
Fax
No |
: |
Nil |
|
E-mail |
: |
|
|
Website |
: |
|
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
4500 |
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 |
: |
Nowpasra,
Madhabdi Narsingdi, Bangladesh. |
|
Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
2.5 |
Acores |
|
Branches: |
|
|
|
|
|
|
|
Address |
: |
Baitul Khair Building (8th Floor, Suite # 805), 48/A-B Purana Paltan, Dhaka-1000,
Bangladesh. |
|
Tel
No |
: |
88-02-9511463 |
|
Fax
No |
: |
88-02-9511464 |
|
Employee: |
|
||||||
|
|
|
||||||
|
No.
of Employees |
In
Office |
: |
20 |
In
Factory |
: |
1480 |
|
|
In Branch: |
: |
- |
Total
|
: |
1500 |
||
PROPRIETOR/PARTNERS
|
||
|
Names of Proprietor
|
: |
Mr. Md. Fayazur Rahaman |
MANAGEMENT
|
||
|
Name |
: |
Mr. Asddul Hoque
Mukul |
|
Job Description |
: |
Commercial Manager. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01833324007 |
|
|
|
|
|
Name |
: |
Mr. Didarul Alam |
|
Job Description |
: |
General Manager. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01833324004 |
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
|
Services |
|
Others |
|
|
Range of Products: |
||
|
|
||
|
Products |
: |
Yarn & Grey Fabrics. |
|
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 |
: |
N/A |
|
||||||
|
Imports |
: |
China, India. |
|
||||||||
|
|
|
||||||||||
|
Brand Name |
: |
N/A |
|||||||||
|
Certified |
: |
N/A |
|||||||||
|
Auditors |
: |
N/A |
|||||||||
|
Operation Status |
: |
Active. |
|||||||||
|
Member |
: |
N/A |
|||||||||
CAPITAL STRUCTURE
|
||
|
Capital Invested |
: |
Tk. 30 Million |
|
Assets |
: |
Tk. 510.47 Million |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
||
|
Sister Concerns |
: |
F.M. textile yarn
Trading Ltd. Fay Max Trade
Corporation JAJ Spinning Mills
Ltd. M.M. Knitting &
Embroidery Ltd. JB Traders Mahid Apparels Ltd. JB Tower JAJ Bhuiyan Complex Mahid Expo. Int.
Tex. Ltd. JM Fashion Zakia Cottontex
Ltd. J.B. Feed
Processing Complex Ltd. J.B. telecom Ltd Jewel Tower Jonayid Builders
Ltd. Air Touch Complex
Ltd. Mutual Concern
Corporation Limited |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
JAJ Bhuiyan Group. |
|
Bank Name |
: |
Al-Arafah Islami
Bank Ltd. |
|
Bank Address |
: |
VIP Road Branch. Ridge Ahmed Square, 50/1 Inner Cercular
(VIP) Road, Naya Paltan , Dhaka-1000 Ph:
9353801(D),9345871-2, 01811-409593 Fax: 8316222 |
|
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 House # 322 (Ground Floor), Lane # 05, New
DOHS Baridhara, Dhaka-1212, Bangladesh. The subject concern Commercial
Manager Mr. Asddul Hoque Mukul welcome us & given us all information. Its
office is decorated by normal furniture. |
GENERAL COMMENTS
|
|
Established in
2002, Subject is mainly engaged in manufacturer, exporter & distributor.
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.60.34 |
|
UK Pound |
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.