MIRA
INFORM REPORT
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Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
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Name : |
BRB CABLE INDUSTRIES LIMITED |
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Registered Office : |
House # 10/B, Road # 6, Dhanmondi, Dhaka-1205 |
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Country : |
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Date of Incorporation : |
20.08.1980 |
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Com. Reg. No.: |
C-6519 |
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Legal Form : |
Private Co |
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Line of Business : |
Manufacturer and Distributor of all kind of Electric Wires. |
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No. of Employees : |
2200 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Bangladesh |
B1 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
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Source
: CIA |
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
BRB Cable Industries Limited |
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Head Office |
: |
House # 10/B, Road # 6, Dhanmondi, Dhaka-1205,
Bangladesh. |
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Tel No |
: |
88-02-8620121-22, 8620555, 9611120 |
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Fax No |
: |
88-02-8650972, 8624060 |
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E-mail |
: |
brbdo@dhaka.net brbcables@gmail.com |
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Website |
: |
www.brbcable.com, www.brb-group.com |
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Date/ Year of Incorporation |
: |
20/08/1980 |
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Incorporation No. |
: |
C-6519 |
|
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) ________________ |
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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. 685 Million |
Tk. 87.25 Million |
Tk. 32.35 Million |
|
July’
13~June’ 14 |
Tk. 825 Million |
Tk. 105.70 Million |
Tk. 39.35 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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FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr.
Ishtiuk Ahmed |
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Designation |
: |
Commercial
Officer |
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Contract No |
: |
88-01730022006 |
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Locations
Details |
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Operating Address |
: |
House # 10/B, Road # 6, Dhanmondi, Dhaka-1205,
Bangladesh. |
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Tel No |
: |
88-02-8620121-22, 8620555, 9611120 |
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Fax No |
: |
88-02-8650972, 8624060 |
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E-mail |
: |
brbdo@dhaka.net brbcables@gmail.com |
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Website |
: |
www.brb-group.com |
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Location : |
:
Owned |
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Rented |
Ö |
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Leased |
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Area |
3500 |
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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Factory: |
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Address |
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BSCIC Industrial Estate,
Kushtia-7002, Bangladesh. |
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Tel No |
: |
88-071-61933, 73244, 61600 |
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Fax No |
: |
88-071-73641 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
4 |
Acres |
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Branches: |
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Address |
: |
Nil |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
80 |
In Factory |
: |
2120 |
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In Branch: |
: |
- |
Total
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: |
2200 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
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Mr. Md. Mozibar Rahman |
500 |
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Mrs. Salima Begum |
300 |
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Mr. Pervaz Rahman |
400 |
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Mr. Md. Mizber Rahman |
400 |
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Mr. Md. Shamsur Rahman
|
400 |
DIRECTORS
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Name |
Designation |
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Md. Mozibar Rahman |
Chairman |
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Mrs. Selima Begum |
Vice Chairman |
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Md. Parvez Rahman |
Managing Director |
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Mrs. Tania Afroz |
Director |
MANAGEMENT
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Name |
: |
Mr. Ishtiuk Ahmed |
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Job Description |
: |
Commercial Officer |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01730022006 |
BUSINESS OPERATIONS
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Nature of Activity
: |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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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 |
: |
All kind of Electric Wires. |
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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 |
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Cash |
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Others |
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Credit : |
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30 days |
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60 days |
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90 days |
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days |
DETAILED DATA
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Trade
Reference & Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
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N/A |
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Overseas Suppliers |
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N/A |
Local Suppliers |
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N/A |
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Trade
Markets |
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Exports |
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N/A |
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Imports |
: |
China, Belgium, Germany, France, UK, USA, Japan,
Switzerland& India |
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Brand Name |
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Nil |
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Certified |
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Nil |
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Auditors |
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N/A |
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Operation Status |
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Active |
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Member |
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N/A |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk. 50 Million |
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Paid-up
Capital |
: |
Tk. 200,000 |
No. of Shares |
: |
2000 |
Share Value |
: |
Tk.100.00Each |
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Main
Assets |
: |
Tk. 105.70 Million |
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FINANCIAL STATEMENT- DETAILED
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The subject company don’t submit
update financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
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Sister Concerns |
: |
Kiam Metal Industries Ltd. MRS Industries Ltd. Lovely Housing Ltd. BRB Polymer Ltd. Universal Network Co. Ltd. BRB Knitwear Ltd. BRB Electrical Co. Ltd BRB Distributions Ltd. Universal Leader Services Ltd. BRB Wires & Cables Ltd. TPT Cables Ltd. BRB Securities Ltd. |
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Subsidiary |
: |
N/A |
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Name of The Group |
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BRB Group |
BANKING
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Bank Name |
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Islami
Bank Bangladesh Ltd. |
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Bank Address |
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Kushtia Branch, Lovely Tower, 55/1, Nowab
Sirajuddula Road, Kushtia Phone: (071) 62244, 61313 Mobile: 01711-889916 Email: ibblkushtia@yahoo.com |
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Bank Name |
: |
National Credit & Commerce
Bank Ltd.
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Bank Address |
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Kushtia Branch Momtaz Tower (1st Floor), N.S
Road, Kushtia Mobile-88-071-72327-8 Tel: 88-071-9263673 kushtia@nccbank.com.bd |
ADVERSE DATA MONITORING
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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 |
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No Record Found |
SITE VISIT COMMENTARY
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Our Representative Visited the subject company Head office
which is situated at House # 10/B, Road # 6, Dhanmondi, Dhaka-1205,
Bangladesh. The subject company Commercial Officer Mr. Ishtiuk Ahmed given us
all information. Is situated at commercial area which is a well decorated
modern office. |
GENERAL COMMENTS
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The subject company is a well-known reputed company in
Bangladesh. Their products popular to
the local customers. So day by day
the subject companies increase their goodwill. As well as its financial condition, we recommend that
Credit can proceed promptly Fairly large amount. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.19 |
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|
1 |
Rs.98.65 |
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Euro |
1 |
Rs.78.63 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.