MIRA INFORM REPORT

 

 

Report Date :

12.09.2014

 

IDENTIFICATION DETAILS

 

Name :

JANATA JUTE MILLS LIMITED

 

 

Registered Office :

South Avenue Tower (7th Floor), 7 Gulshan, Avenue, Gulshan-1, Dhaka

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

29.06.1983

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer and Exporter of Jute Yarn, Cloth, Bag, Geo-Textile

 

 

No of Employees :

5000

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

Status :

Good

Payment Behaviour :

Regular

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)

Bangladesh

B1

A2

 

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

:

JANATA JUTE MILLS LIMITED

Head Office

:

South Avenue Tower (7th Floor), 7 Gulshan, Avenue, Gulshan-1, Dhaka, Bangladesh.

Tel No

:

88-02-9888698

Fax No

:

88-02-9888419

E-mail

:

sales@janata-sadat-jute.com

Website

:

www.janata-sadat-jute.com

Date/ Year of Incorporation

:

29.06.1983

Incorporation No.

:

C-2639

Tread License No.

:

03-03520

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. 2365.31 Million

Tk. 1521.15 Million

Tk. 352.40 Million

July’ 13~June’ 14

Tk. 2410.50 Million

Tk. 1587.20 Million

Tk. 338.00 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. Mahmudul Huq.

Designation

:

Deputy Managing Director.

Contract No

:

-

 

 

Locations Details

 

Operating Address

:

South Avenue Tower (7th Floor), 7 Gulshan, Avenue, Gulshan-1, Dhaka, Bangladesh.

Tel No

:

88-02-9888698

Fax No

:

88-02-9888419

E-mail

:

sales@janata-sadat-jute.com

Website

:

www.janata-sadat-jute.com

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

7500

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Palash, Ghorashal, Narsing, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

45

Aceros

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

80

In Factory

:

4920

In Branch:

:

-

Total

:

5000

Details:

 

                    

 

 

OWNERSHIP/SHAREHOLDERS

 

Names of Shareholders

 No. of Share     

Mr. Najmul Huq

2640496

Mr. Mahmudul Huq

2638240

Mrs. Rowshan Akhter Jahan

 338872

Mrs. Halima Iftekher

    3920

Mrs, Mariam Imtiaz

   3928

Mr. Sariatullah

  97688

Mr. Marfatullah

338356

Mr. Salim Ullah

 43154

Mrs. Anowara Begum

183950

Mr. Aftabuddin Ahmed

 27456

Mr. Ehsanul Hoque

142498

Mrs. Salma Chowdhury

57520

Mr. Syduzzaman Khan

49056

Mr. Wahiduzzaman Khan

49056

Mr. Asaduzzaman

49056

Mr. Shahiduzzaman

49056

Mr. Mominuzzaman

49064

Mrs. Rokhshana Khanam

628

Mrs. Firoza Begum

134608

Mr. Abdul Quayam

141508

Mr. Abdul Momen

134620

Mr. Abdul Hamid

133212

Mrs. Afsari Khanom

 26932

Mrs. Firoza Begum

 5464

Mr. Mizanur Rahman

156434

Mrs. Lutfa Begum

5464

Mr. Shafiqur Rahman

161964

Mrs. Nilufa Begum

10992

Mrs. Sharifa Begum

10992

Mrs. Hosne-Ara-Begum

37752

Mr. Rezaur Rahman

27092

Mr. Ishfaqur Rahman

27092

Mrs. Rownaque Jahan Sweety

13548

Mrs. Israt Jahan

13548

Mrs. Akhter Jahan

13548

Mr. Harisur Rahman

27092

Mr. Faruk Hossain

54944

Mr. Haroon-Ur-Rashid

54944

Mr. Masudur Rahman

54944

Mr. Anower Hossain

54944

Mr. Ai-Haj Tofazzal Hossain

27456

Mr. Abu Ahmed Nasiruzzaman

5464

Mr. A. F. M. Badruzzaman

528

Mr. Abu Taher Bhuiyan

528

Mr. Khorsheduzzaman

528

Mr. Mohammad S. Ahsan

59416

Mrs. Nadira Begum

17812

Mr. Amirul Hoque

49874

Mr. Mominul Hoque

49874

Miss. Ayesha Hoque

24936

Mrs. Zobeda Khatoon

 7849

Mrs. Zohra Khatoon

 7850

Mrs. Rashida Mozammel

 7849

Mrs. Saleha Sadeq

 7849

Mr. Mohd. Abdul Halim

 2598

Mr. Ahsan Ullah

15698

Mr. Asad Ullah

15698

Mr. Mahib Ullah

15699

Mr. Nuruzzaman Khan

 49056

Mrs. Rozina Khanam

628

Mr. Farukor Rahman

156434

Mr. Farrah Rahman

 65544

Mr. Nasiruddin

  1064

 

 

DIRECTORS

 

Name

Designation

Mr. Najmul Huq

Managing Director

Mr. Mahmudul Huq

Director

Mr. Ehsanul Hoque

Director

Mr. Syduzzaman Khan

Director

Mr. Abdul Hamid

Director

Mr. Md. Abdul Quddus

Director

Mr. Golam Mostafa

Director

Mr. Farukor Rahman

Director

Mrs. Akhtari Begum

Director

 

 

MANAGEMENT

 

Name

:

Mr. Mahmudul Huq.       

Job Description

:

Deputy Managing Director.

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

 

Range of Products:

 

Products

:

Jute Yarn, Cloth, Bag, Geo- Textile.   

Production Capacity

:

Cloth, Bag, Geo- Textile : 9150 Mt Tons Per Day.

Yarn                                 : 6700M Tons Per Day.   

Last Year Production

:

Do.

 

 

Trading Terms

 

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

:

N/A

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

Imports

:

N/A

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active.

Member

:

Bangladesh Jute Mills Association.

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

Tk. 10 Crore.

 

Paid-up Capital

:

Tk. 8, 65,38,640

    No. of Shares

:

86,53,864

Share Value

:

Tk.10.0Each

Main Assets

:

Tk. 1587.20 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns

:

Sadat Jute Industries Ltd.  

Subsidiary

:

N/A

Name of  The Group

:

N/A

 

BANKING

 

 

Bank Name  

:

Standarad Chartered Bank.

Bank Address

:

Uttara Branch.

House 81, Road 7, Sector 4, Uttara, 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 South Avenue Tower (7th Floor), 7 Gulshan, Avenue, Gulshan-1, Dhaka, Bangladesh. The subject company Deputy Managing Director- Mr. Mahmudul Huq given us all information. Is situated at Residential area which is a well decorated modern office.

 

GENERAL COMMENTS

 

 

Established in 29.06.1983, Subject is mainly engaged in producing and selling of Jute Yarn, Cloth, Bag, Geo- Textile.   

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.60.91

UK Pound

1

Rs.98.65

Euro

1

Rs.78.64

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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.