MIRA INFORM REPORT

 

 

Report Date :

04.10.2014

 

IDENTIFICATION DETAILS

 

Name :

AYUB BROS. TANNERY LIMITED.

 

 

Registered Office :

143/1, Hazari Bagh Tannery Area, Dhaka-1209

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

17.05.1979

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer and Exporter of Cow/Buffalo Crust Split Leather, Finish Leather, Leather Goods.       

 

 

No of Employees :

175

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Bangladesh

B1

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

 

Source : CIA

 

 

 

 

 

IDENTIFICATION DETAILS

 

Correct company Name

:

AYUB BROS. TANNERY LIMITED.

Head Office

:

143/1, Hazari Bagh Tannery Area, Dhaka-1209, Bangladesh.

Tel No

:

88-02-9665484, 01711523637, 01711538044

Fax No

:

Nil

E-mail

:

ayubbrotherstannerybd@gmail.com

Website

:

Nil

Date/ Year of Incorporation

:

17.05.1979

Incorporation No.

:

C-6991

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’ 12~June’ 13

Tk. 290 Million

Tk. 16.60 Million

Tk. 9.21 Million

July’ 13~June’ 14

Tk. 240 Million

Tk. 21.95 Million

Tk. 6.37 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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

 

Information Parted By

Name

:

Mr. Balal Hasan.

Designation

:

Executive Director.

Contract No

:

88-01711523637

 

 

Locations Details

Operating Address

:

143/1, Hazari Bagh Tannery Area, Dhaka-1209, Bangladesh.

Tel No

:

88-02-9665484, 01711523637, 01711538044

Fax No

:

Nil

E-mail

:

ayubbrotherstannerybd@gmail.com

Website

:

Nil

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

3800

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

      

 

Residential Bldg.

 

 

 

 

 

 

 

 

Factory-1:

 

 

 

 

 

Address

:

143/1, Hazari Bagh Tannery Area, Dhaka-1209, Bangladesh.

Tel No

:

88-02-9665484, 01711523637, 01711538044

Fax No

:

Nil

 

Factory-2:

 

 

 

 

 

Address

:

136/1, Hazari Bagh Tannery Area, Dhaka-1209, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

63750

Sq. ft.

 

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

25

In Factory

:

150

In Branch:

:

-

Total

:

175

Details:

 

                     

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Ms. Nasima Akhter

                                    1510

Mr. Monir Hossian

                                  97590

 

 

DIRECTORS

 

Name

Designation

Mr. Monir Hossian

Managing Director

Ms. Nasima Akhter

Director

 

MANAGEMENT

 

Name

:

Mr. Balal Hasan.

Job Description

:

Executive Director.

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01711523637

 

 

 

 

Name

:

Mr. Abdul Baten Mashud

Job Description

:

Manager

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01711833213

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

Item Dealings In:

 

Products

:

Cow/Buffalo Crust Split Leather, Finish Leather, Leather Goods.       

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

:

Italy, China, Korea, Hong Kong, Thailand, USA, Belgium, Portugal, the Netherlands, Turkey.

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

 

Imports

:

China, India, Pakistan, and Australia.

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active.

Member

:

N/A

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

Tk. 1, 50, 00,000

 

Paid-up Capital

:

Tk. 99, 10,000

    No. of Shares

:

99,100

Share Value

:

Tk.100.00Each

Main Assets

:

Tk. 21.95 Million.

 

 

 

FINANCIAL STATEMENT- DETAILED

 

The subject company don’t submit update full financial figure to local registry office.

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

M/S. Nasim Leather Complex

Asian Leather Complex 

Subsidiary

:

N/A

Name of  The Group

:

N/A

 

BANKING

 

 

Bank Name  

:

Mercantile Bank Ltd.

Bank Address

:

Gulshan Branch.

CES (A), 54(A), Gulshan Avenue

Gulshan Model Town, Dhaka-1212

Phone: 8835276-7, 8835614

Mobile: 01713-045296

Fax: 88-02-8835615

 

Bank Name  

:

AL- Arafa Islami Bank Ltd.

Bank Address

:

Hazaribagh Branch.

149, Hazaribagh Bazar Dhaka - 1209

Ph: 9611758-9, 01819-157536

Fax: 9611758

 

 

Bank Name  

:

Bangladesh Krishi Bank

Bank Address

:

Chawk bazar Branch.

Dhaka, Bangladesh.

 

 

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 Head office which is situated at 143/1, Hazaribagh, Dhaka-1209, Bangladesh. The subject company Manager Mr. Abdul Baten Mashud given us all information. Is situated at Tannery area which is a well decorated office.

 

GENERAL COMMENTS

 

Established in May 1979, Subject is mainly engaged in manufacturer & exporter. 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.61.75

UK Pound

1

Rs.100.07

Euro

1

Rs.77.95

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TPT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.