MIRA
INFORM REPORT
|
Report Date : |
08.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE PREMIER BANK LIMITED |
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Registered Office : |
Iqbal Centre (4th Floor), 42 Kemal Ataturk Avenue, Banani, Dhaka-1213 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
10.06.1999 |
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Com. Reg. No.: |
C-37922 |
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Legal Form : |
Public Listed Co. |
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Line of Business : |
Commercial Banking Services. |
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No. of Employees : |
1286 |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bangladesh |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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.
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Source
: CIA |
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
The Premier Bank Limited |
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Head Office |
: |
Iqbal Centre (4th Floor), 42 Kemal Ataturk Avenue, Banani, Dhaka-1213, Bangladesh. |
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Tel No |
: |
88-02-9820844-8, 988 7581 |
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Fax No |
: |
880-2- 9820849,
9820808 |
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E-mail |
: |
info@premierbankltd.com |
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Website |
: |
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Date/ Year of Incorporation |
: |
10.06.1999 |
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Incorporation
No. |
: |
C-37922 |
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VAT Registration |
: |
5101027082 |
|
TIN Certificate |
: |
140-201-0820, LTU, Dhaka |
|
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 |
|
31st December’2012 |
Tk. 8,289,266,128 |
Tk. 81,736,246,380 |
Tk. 3,774,417,562 |
|
31st December’2013 |
Tk. 8,253,723,271 |
Tk. 89,691,984,062 |
Tk. 4,312,424,803 |
|
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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FULLCHECK REPORT DETAILS
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Information Parted By |
||
|
Name |
: |
Mr. Syed Ahsan
Habib, FCMA |
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Designation |
: |
Company secretary |
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Contract No |
: |
- |
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Locations Details |
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|
Business Address |
: |
Iqbal Centre (4th Floor), 42 Kemal Ataturk Avenue, Banani, Dhaka-1213, Bangladesh. |
|
Tel No |
: |
88-02-9820844-8, 988 7581 |
|
E-mail |
: |
880-2- 9820849,
9820808 |
|
Fax No |
: |
info@premierbankltd.com |
|
Website |
: |
www.premierbankltd.com |
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Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
50,000 |
Sq. ft. |
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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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Number of Branches: |
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Number of branches |
: |
86 Nos. |
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Narayangonj Branch: |
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Address |
: |
Rahat Complex(2nd Floor), Old-56, New 53/3 SM Maleh Road, Tanbazar, Narayangonj, Bangladesh |
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Tel No |
: |
88-02-7648513-1, 7648618(Manager) |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
1286 |
In Factory |
: |
- |
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In Branch: |
: |
- |
Total |
: |
1286 |
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OWNERSHIP/SHAREHOLDERS
|
Names of Shareholders |
No. of Share |
|
Dr. H. B. M. Iqbal |
19,724,111 |
|
Mr. Moin Iqbal |
10,249,680 |
|
Mr. B. H.
Haroon |
10,251,999 |
|
Mr. Abdus Salam
Murshedy |
21,579,800 |
|
Mr.
Shafiqur Rahman |
10,253,679 |
|
Mrs.
Nawrin Iqbal |
10,249,730 |
|
Mr.
Mohammad Imran Iqbal |
10,249,638 |
|
Mr. Shah
Md. Nahyan Haroon |
10,252,127 |
|
Mrs.
Shaila Shelly Khan |
25,614,331 |
|
Mr. Yeh
Cheng Min |
15,389,090 |
|
Mr. Kazi
Abdul Mazid |
175,802 |
|
Mrs. Faiza
Rahman |
162,949 |
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Dr. Arifur
Rahman |
17,756,002 |
|
Mr. Nurul
Amin |
3,564,630 |
|
Mr. Md.
Lutfur Rahman |
1,725,882 |
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Mr. Md.
Masud Zaman |
3,903,311 |
|
Ms. Parsa
Sanjana Amin |
2,877,525 |
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Mr. Kutubuddin
Ahmed |
16,264,567 |
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Mr. Sanwar
Dito |
13,342,613 |
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Mrs.
Ferdous Amin |
8,041,346 |
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Mr. Alif
Alam |
7,993,751 |
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Mrs.
Rashida Ahmed |
871,888 |
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Mrs.
Sharmin Salam |
1,843,898 |
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Mr. Md.
Miraj Rahman |
9,765 |
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Mr. Maruf
Rahman |
9,765 |
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Mr. Md.
Moniruzzaman |
3,828,509 |
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Mr. Md.
Wahiduzzaman |
3,828,506 |
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Mrs. Asma
Begum |
2,172,629 |
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Mr. Shah
Md. Adnan Haroon |
2,222,000 |
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Mr. Jamal
G. Ahmed |
762,733 |
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Mrs.
Husne-Ara Begum |
1,655,752 |
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Mr. Adytta
Amin |
3,604,129 |
|
General Shareholders |
272,025,470 |
DIRECTORS
|
Name |
Designation |
|
Dr. H. B. M. Iqbal |
Chairman |
|
Mr. Moin Iqbal |
Vice chairman |
|
Mr. K. A. M. Majedur Rahman |
Managing Director |
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Mr. B. H. Haroon, MP |
Director |
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Mr. Abdus Salam Murshedy |
Director |
|
Mr. Shafiqur Rahman |
Director |
|
Mrs. Nawrin Iqbal |
Director |
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Mr. Mohammad Imran Iqbal |
Director |
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Mr. Shah Md. Nahyan Haroon |
Director |
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Mrs. Shaila Shelly Khan |
Director |
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Mr. Yeh Cheng Min |
Director |
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Mr. Kazi Abdul Mazid |
Independent Director |
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Mrs. Faiza Rahman |
Independent Director |
MANAGEMENT
|
Name |
: |
Mr. A. K. M. Shamsuddin |
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Job Description |
: |
Deputy Managing Director |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Mir Abdur Rahim |
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Job Description |
: |
Chief Risk Officer |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS OPERATIONS
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Nature of Activity : |
Banking |
Ö |
Trader |
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Dealer |
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Distributor |
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Exporter |
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Importer |
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Services |
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Others |
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Item Dealings
In: |
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Products |
: |
Commercial Banking Services. |
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Production Capacity |
: |
N/A |
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Last Year Production |
: |
N/A |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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|
days |
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Selling Terms : |
L/C |
N/A |
Cash |
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Others |
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|||
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Credit : |
|
30 days |
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60 days |
|
90 days |
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|
days |
DETAILED DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local people, Companies |
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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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Imports |
: |
N/A |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
Syful Shamsul Alam & Co Chartered Accountants Paramount Heights (Level-6) 65/2/1, Box Culvert Road, Purana Paltan Dhaka-1000, Bangladesh |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
|
Authorized
Capital |
: |
Tk. 6,000,000,000 |
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Paid-up Capital |
: |
Tk.5,124,576,070 |
No. of Shares |
: |
512,457,607 |
Share
Value |
: |
Tk.10.00Each |
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|
Main Assets |
: |
Tk.89,691,984,062 |
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FINANCIAL STATEMENT- DETAILED
|
Balance Sheet : |
||
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|
Currency |
: Tk. |
|
|
Denomination |
: 1 |
|
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Financial Year Ending |
: 31st
December |
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Income Statement : |
||
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|
Currency |
: Tk. |
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|
Denomination |
: 1 |
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Financial Year Ending |
: 31st December |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
Sister Concerns |
: |
N/A |
|
Subsidiary |
: |
Premier Bank Securities Ltd. Premier Money Transfer Company Limited |
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Name of The Group |
: |
N/A |
BANKING
|
Bank Name
|
: |
AB Bank Limited Southeast Bank
Limited Bank Asia Limited
Shahjalal Islami
Bank Limited First Security
Islamic Bank Limited Standard Bank
Limited - United Commercial
Bank Limited Sonali Bank
Limited Islami Bank
Bangladesh Limited Standard
Chartered Bank National Bank
Limited Mercantile Bank
Limited The City Bank
Limited |
ADVERSE DATA MONITORING
|
Dishonored Checks |
:
|
No Record
Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record
Found |
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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 Iqbal Centre (4th Floor), 42 Kemal Ataturk Avenue, Banani,
Dhaka-1213, Bangladesh. The subject Company secretary Mr. Syed Ahsan Habib gave
us all information. Is situated at commercial area which is a well decorated
modern office.
GENERAL COMMENTS
SC is considered large-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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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 |
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|
-- |
NB |
New Business |
-- |
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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.