|
Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PARAGON CERAMIC INDUSTRIES LIMITED |
|
|
|
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Registered Office : |
House # 32(2nd & 3rd floor), Road # 1/A, Block# J, Baridhara, Dhaka-1212 |
|
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|
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Country : |
Bangladesh |
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|
Date of Incorporation : |
12.06.2008 |
|
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|
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Com. Reg. No.: |
C-71671 |
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|
|
Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Distributor and Exporter of High Definition Porcelain, Tableware,
all types of Ceramic Items. |
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|
|
|
No. of Employees : |
1350 |
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
||
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|
||
|
Correct company Name |
: |
PARAGON CERAMIC INDUSTRIES LIMITED |
|
Head Office |
: |
House # 32(2nd & 3rd floor), Road # 1/A,
Block# J, Baridhara, Dhaka-1212, Bangladesh. |
|
Tel No |
: |
88-02-9855492, 9857927,9857614, 9857626,
9857629 |
|
Fax No |
: |
88-02-9855489, 9857605 |
|
E-mail |
: |
info@paragonceramic.com
paragon.ceramic@gmail.com admin@paragonceramic.com |
|
Website |
: |
www.paragonceramicbd.com |
|
Date/ Year of Incorporation |
: |
12.06.2008 |
|
Incorporation No. |
: |
C-71671 |
|
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) |
|
Year |
Turnover/
Sales |
Assets |
Income |
|
July’ 11~June’ 12 |
Tk. 377 Million |
Tk. 60 Million |
Tk. 17.51 Million |
|
July’ 12~June’ 13 |
Tk. 392 Million |
Tk. 65.32 Million |
Tk. 21.75 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 |
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Information Parted By |
||
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Name |
: |
Mr. Rahmatullah |
|
Designation |
: |
Commercial Manager. |
|
Contract No |
: |
- |
|
Locations Details |
||
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||
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Operating Address |
: |
House # 32 (2nd & 3rd floor), Road # 1/A,
Block# J, Baridhara, Dhaka-1212, Bangladesh. |
|
Tel No |
: |
88-02-9855492, 9857927,9857614, 9857626,
9857629 |
|
Fax No |
: |
88-02-9855489, 9857605 |
|
E-mail |
: |
info@paragonceramic.com
paragon.ceramic@gmail.com admin@paragonceramic.com |
|
Website |
: |
www.paragonceramicbd.com |
|
Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
5600 |
Sq. ft. |
|
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 |
: |
Dogori (Nayapara), Mirzapur, Gazipur Sadar,
Gazipur-1700, Bangladesh. |
|
Tel No |
: |
Nil |
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Email |
: |
factory@paragonceramic.com |
|
Owned |
Ö |
|
Rented |
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Leased |
|
Area |
250000 |
Sq. ft. |
|
Display Center: |
||
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Address |
: |
House # 1, Road # 5, Sector # 1, Uttara,
Dhaka-1230, Bangladesh.
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|
Tel No |
: |
880-2-8933746 |
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E-mail |
: |
displaycenter-uttara@paragonceramic.com |
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Employee: |
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No. of Employees |
In Office |
: |
50 |
In Factory |
: |
1300 |
||
|
In Branch: |
: |
- |
Total |
: |
1350 |
|||
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Details: |
|
|
|
|||||
|
Names of Shareholders |
No. of Share |
|
Mr. Bilal Mamoon |
1600 |
|
Mr. Ebrahim D. Mamoon |
1600 |
|
Mr. Md. Shahadat Hossain |
1600 |
|
Mr. Md. Morsheduzzaman (Ruman) |
1600 |
|
Mr. Farian Yusuf |
2000 |
|
Mr. Md. Ashaduzzaman |
1600 |
|
Name |
Designation |
|
Mr. Bilal Mamoon |
Chairman |
|
Mr. Ebrahim D. Mamoon |
Vice Chairman |
|
Mr. Md. Shahadat Hossain |
Managing Director |
|
Mr. Md. Morsheduzzaman (Ruman) |
Director |
|
Mr. Farian Yusuf |
Director |
|
Mr. Md. Ashaduzzaman |
Director |
|
Name |
: |
Mr. Rahmatullah |
|
Job Description |
: |
Commercial Manager. |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Morshed Alam |
|
Job Description |
: |
Front Desk Officer. |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
|
Other details |
: |
N/A |
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Nature of
Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
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Distributor |
Ö |
|
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|||||||
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Exporter |
Ö |
Importer |
|
Services |
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Others |
|
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Item Dealings
In: |
||
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||
|
Products |
: |
High Definition Porcelain, Tableware, All types of Ceramic Items. |
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Production
Capacity |
: |
14.00 Million Pcs production per year. |
|
Last Year
Production |
: |
Do. |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
|
Others |
|
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|||
|
|
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 |
|
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 |
: |
Exports |
: |
N/A |
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|||||
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Imports |
: |
China, India, Singapore, Japan. |
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Brand Name |
: |
N/A |
||||||||
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Certified |
: |
N/A |
||||||||
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Auditors |
: |
N/A |
||||||||
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Operation Status |
: |
Active. |
||||||||
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Member |
: |
Dhaka Chamber of Commerce & Industry. |
||||||||
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Authorized
Capital |
: |
Tk. 5 Crore |
|
||||||
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Paid-up
Capital |
: |
Tk. 10, 00,000 |
No. of Shares |
: |
10000 |
Share
Value |
: |
Tk.100.00Each |
|
|
Main
Assets |
: |
Tk. 65.32 Million |
|
||||||
The subject company don’t submit update full financial figure to local
registry office.
|
Sister Concerns |
: |
Steeltech Ind. Ltd. Altech Aluminium Ltd. Papertech Industries Ltd. Tissutech Industries Ltd. Coppertech Industries Ltd. Kai Bangla Aluminium Ltd. |
|
Subsidiary |
: |
Nil |
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Name of The Group |
: |
Kai Altech Group. |
|
Bank Name |
: |
The City Bank Limited. |
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Bank Address |
: |
Head Office, 136, Gulshan Avenue, Gulshan-2 Dhaka-1212, Bangladesh Hunting numbers: 88-02 8813483, 8814375,
8813126 Fax: 88-02 9884446 |
|
|
||
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Bank Name |
: |
Trust Bank Ltd. |
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Bank Address |
: |
Uttara Branch. Holding-111/A (Ground & 1st
floor) Road-7, Sector-4, Uttara, Dhaka-1230 Dhaka 7914732,7914658,
8921312, Fax 8922650 |
|
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 |
|
Our Representative Visited the subject company Head office which is
situated at House # 32(2nd & 3rd floor), Road # 1/A, Block# J, Baridhara,
Dhaka-1212, Bangladesh. The subject company Commercial Manager Mr.
Rahmatullah welcome us & given us all information. Its office is situated
at Residential area which is well decorated. |
Subject is mainly engaged in Manufacturer & Exporter. The subject
company maintains acceptable business volume.
Based on the financial statements, SC’s financial performance appears to
be average. Having been in operation for several years, Subject enjoys some
recognition and impact in the line.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.