|
Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MIR CERAMIC LTD. |
|
|
|
|
Registered Office : |
House# 13, Road# 12, Dhanmondi R/A, Dhaka-1209 |
|
|
|
|
Country : |
Bangladesh |
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|
Date of Incorporation : |
05.02.2001 |
|
|
|
|
Com. Reg. No.: |
C-42386 |
|
|
|
|
Legal Form : |
Private Company |
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|
|
|
Line of Business : |
Manufacturer & Distributors of Ceramic Tiles such as Mir Polished, porcellin & Wall tiles |
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|
|
|
No of Employees : |
650 (20 in Office & 630 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 |
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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 – 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
company Name |
: |
Mir Ceramic Ltd. |
|
Head
Office |
: |
House# 13, Road# 12, Dhanmondi R/A, Dhaka-1209,
Bangladesh. |
|
Tel
No |
: |
88-02-9134572-3, 9136761, 01190079055 |
|
Fax
No |
: |
88-02-9133274 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/
Year
of Incorporation |
: |
05.02.2001 |
|
Incorporation No. |
: |
C-42386 |
|
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) |
FINANCIALS-
SUMMARY
|
|||
|
Year |
Turnover/ Sales |
Assets |
Income |
|
July’ 11~June’ 12 |
Tk. 282 Million |
Tk. 2868.22 Million |
Tk. 39.35 Million |
|
July’ 12~June’ 13 |
Tk. 367.59 Million |
Tk. 2891.32 Million |
Tk. 46.50 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
|
||
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|
|
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Name |
: |
Mr. Farid Ahmed |
|
Designation |
: |
General Manager
Corporate & Account |
|
Contact No |
: |
88-01839955450 |
Locations
Details
|
||
|
|
||
|
Operating
Address |
: |
House# 13, Road# 12, Dhanmondi R/A, Dhaka-1209,
Bangladesh. |
|
Tel
No |
: |
88-02-9134572-3, 9136761, 01190079055 |
|
Fax
No |
: |
88-02-9133274 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
2800 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
|
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Business Center |
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Home Office |
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Residential
Bldg. |
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|
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|
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Factory: |
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|
|
|
|
|
|
Address |
: |
North Mawna,
Sreepur, Gazipur, Bangladesh. |
|
Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
52000 |
Sq. ft. |
|
Sales
Office: |
||
|
|
|
|
|
Address |
: |
RK Tower
(Level-3 & 6), 312 C.R. Datta Road, Hatirpool, Dhaka-1209,
Bangladesh. |
|
Tel
No |
: |
88-02-8622613, 8650828 |
|
Fax
No |
: |
Nil |
|
Employee: |
|
||||||
|
No.
of Employees |
In
Office |
: |
20 |
In
Factory |
: |
630 |
|
|
In Branch: |
: |
- |
Total
|
: |
650 |
||
OWNERSHIP/SHAREHOLDERS |
|
|
Names of Shareholders |
No. of Share |
|
Mr. Mir Nasir
Hossain |
20190000 |
|
Miss. Mahbuba Nasir
|
490000
|
|
Miss Mahreen Nasir |
470000 |
|
Mr. Ruslan Nasir |
470000
|
|
Mir Energy Ltd |
461000
|
|
Mir Holdings Ltd. (Representative by
Mr. Md. Rafiul Alam) |
461000 |
|
Global Fair
Communications Ltd. (Representative by
Mr. Abu Saleh Md. Musa) |
461000 |
DIRECTORS |
|
|
Name |
Designation |
|
Mr. Mir Nasir
Hossain |
Managing Director |
|
Miss. Mahbuba Nasir |
Director |
|
Mr. Ruslan Nasir |
Director |
|
Miss. Mahreen
Nasir |
Director |
|
Mr. Md. Rafiul Alam
|
Director |
|
Mr. Abu Saleh Md.
Musa |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Farid Ahmed |
|
Job Description |
: |
General Manager
Corporate & Account |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01839955450 |
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
|
Services |
|
Others |
|
|
Item Dealings In: |
||
|
Products |
: |
Ceramic Tiles such as Mir Polished, porcellin & Wall tiles |
|
Production
Capacity |
: |
N/A |
|
Last Year Production |
: |
N/A |
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit
: |
|
30
days |
|
60
days |
Ö |
90
days |
|
|
days |
|
Selling
Terms : |
L/C |
|
Cash |
Ö |
Others |
|
|
|||
|
|
Credit
: |
Ö |
30
days |
|
60
days |
|
90
days |
|
|
days |
DETAILED
DATA
|
|
||||||||||
|
Trade Reference & Related Parties |
: |
Overseas Clients |
: |
India, South Korea
& Nepal. |
Local Clients |
: |
N/A |
|
|||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
|||||
|
Trade Markets |
: |
Exports |
: |
N/A |
|
||||||
|
Imports |
: |
China, India. |
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||||||||
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||||||||||
|
Brand Name |
: |
N/A |
|||||||||
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Certified |
: |
N/A |
|||||||||
|
Auditors |
: |
N/A |
|||||||||
|
Operation Status |
: |
Active. |
|||||||||
|
Member |
: |
Dhaka Chamber of Commerce & Industry. |
|||||||||
CAPITAL
STRUCTURE
|
|
||||||||
|
Authorized Capital |
: |
Tk. 200 Crore |
|
||||||
|
Paid-up Capital |
: |
Tk. 23, 00,30,000 |
No. of Shares |
: |
2,30,03,000 |
Share Value |
: |
Tk.10.0Each |
|
|
Main Assets |
: |
Tk. 2891.32 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
The subject company
don’t submit update full financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
Mir Akhter Hossain
Ltd. Mir Cement Ltd. Mir Concrete
Products Ltd. Mir Holdings Ltd. Mir Real Estate
Ltd. Mir Telecom
Ltd. |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
Mir Group of
Companies |
|
Bank Name |
: |
Prime Bank Ltd. |
|
Bank Address |
: |
Motijheel Branch Adamjee Court
Annexe Building -2, 119-120, Motijheel
C/A, Dhaka-1000 Phone: (02)
7175491-2, 9567225, 9562982 Fax: 88-02-9567223 |
|
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 company Head office which is situated at House# 13, Road#
12, Dhanmondi R/A, Dhaka-1209, Bangladesh. The subject company General Manager Corporate & Account Mr.
Farid Ahmed welcome us & given us all information. Its office is situated
at Residential area which is well decorated. |
GENERAL
COMMENTS
|
|
Subject is mainly engaged in Manufacturer & Distributors. 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. |
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
UK Pound |
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
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.