MIRA INFORM REPORT

Report Date :

27.05.2014

IDENTIFICATION DETAILS

Name :	ZAMAN BROTHER

Registered Office :	Khan Brother Premises D.C. Road Daulatpur, Khulna

Country :	Bangladesh

Date of Incorporation :	2003

Legal Form :	Sole Proprietorships

Line of Business :	Exporter of Raw Jute.

No. of Employees :	7

RATING & COMMENTS

MIRA’s Rating :

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

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	:	Zaman Brother
Head Office	:	Khan Brother Premises D.C. Road Daulatpur, Khulna, Bangladesh.
Tel No	:	88-041-774731,774389,774370
Fax No	:	Nil
E-mail	:	frjute@bangla.net, frjute@khulna.bangla.net
Website	:	Nil
Date/ Year of Incorporation	:	2003
Tread lichen No.	:	21258
Export Lichen No.	:	Jb(2)-4725
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. 65 Million	Tk. 32.50 Million	Tk. 2.15 Million
July’ 12~June’ 13	Tk. 72 Million	Tk. 34.62 Million	Tk. 2.70 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. Ranga Lal Shaha
Designation	:	Manager
Contract No	:	-

Locations Details

Business Address	:	Khan Brother Premises D.C. Road, Daulatpur, Khulna, Bangladesh.
Tel No	:	88-041-774731,774389,774370
Fax No	:	Nil
E-mail	:	frjute@bangla.net, frjute@khulna.bangla.net
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

750

Sq. ft.

Type of Office :	: Commercial Office Bldg.	Ö		Semi-commercial office Bldg.
Retail shop			Industrial Park
Business Center			Home Office
Residential Bldg.

Branches:
Address	:	708, Khan -A-Sabur Road, Daulatpur, Khulna, Bangladesh.
Tel No	:	N/A
Fax No	:	N/A

Warehouse :

Address

Khan Brother Premises D.C. Road, Daulatpur, Khulna, Bangladesh.

Tel No

88-041-774731,774389,774370

Fax No

Nil

Location :

Owned

Rented

Leased

Area

10,000

Sq. ft.

Employee:

No. of Employees

In Office

In Factory

In Branch:

Total

PROPRIETOR/PARTNERS

Names of Proprietor

Mr. Sharif Md. Badruzzaman

MANAGEMENT

Name	:	Mr. Ranga Lal Shaha
Job Description	:	Manager
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Taher Ali Morol
Job Description	:	Ass. Manager
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01718444634

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer		Trader	Dealer	Distributor

	Exporter	Ö	Importer	Services	Others

Item Dealings In:
Products	:	Raw Jute.
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		Cash		Others
	Credit :	Ö	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			:	India, Pakistan

Brand Name			:	Nil
Certified			:	Nil
Auditors			:	N/A
Operation Status			:	Active
Member			:	N/A

CAPITAL STRUCTURE

Capital Invested	:	Tk. 10 Million
Assets	:	Tk. 34.62 Million

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns	:	F.R. Jute Trading Co. Ltd
Subsidiary	:	N/A
Name of The Group	:	Nil

BANKING

Bank Name

Sonali Bank Ltd.

Bank Address

Corporat Branch

Banga Bandu Ave. Dhaka-1000, Bangladesh

Tel: 88-02-9550284,9666546

ADVERSE DATA MONITORING

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 address at Khan Brother Premises D.C. Road Daulatpur, Khulna, Bangladesh. The subject company Manager Mr. Ranga Lal Shaha welcome us & given us all information. Its office is decorated by normal furniture.

GENERAL COMMENTS

Established in 2003, Subject is mainly engaged in Exporter of Raw Jute. Having been in operation for several years, Subject maintains acceptable business volume. Subject enjoys some recognition and impact in the line.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.58.59
UK Pound	1	Rs.98.66
Euro	1	Rs.79.81

INFORMATION DETAILS

Analysis Done by :	SUM

Report Prepared by :	NIT

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%)

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