MIRA INFORM REPORT

Report Date :

23.09.2014

IDENTIFICATION DETAILS

Name :	CRESCENT LEATHER PRODUCTS LTD.

Registered Office :	143, Hazaribagh, Dhaka-1209

Country :	Bangladesh

Date of Incorporation :	22.06.2005

Com. Reg. No.:	C-57750

Legal Form :	Private Co

Line of Business :	Manufacturer and Exporter of All Kinds of Leather Product

No. of Employees :	4000

RATING & COMMENTS

MIRA’s Rating :

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

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

EXECUTIVE SUMMARY

IDENTIFICATION DETAILS

Correct company Name	:	Crescent Leather Products Ltd.
Head Office	:	143, Hazaribagh, Dhaka-1209, Bangladesh.
Tel No	:	88-02-9663659, 01711537791
Fax No	:	88-02-8625232
E-mail	:	info@crescent-nodi.com gm@net2bd.com kader.clpl@yahoo.com
Website	:	www.crescesnt-nodi.com
Date/ Year of Incorporation	:	22.06.2005
Incorporation No.	:	C-57750
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. 382 Million	Tk. 1138.95 Million	Tk. 15.28 Million
July’ 13~June’ 14	Tk. 456 Million	Tk. 1205.20 Million	Tk. 20.52 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. Moshiur Rahman
Designation	:	Executive Director
Contract No	:	-

Locations Details

Operating Address	:	143, Hazaribagh, Dhaka-1209, Bangladesh.
Tel No	:	88-02-9663659, 01711537791
Fax No	:	88-02-8625232
E-mail	:	info@crescent-nodi.com gm@net2bd.com kader.clpl@yahoo.com
Website	:	www.crescesnt-nodi.com

Location :

: Owned

Rented

Leased

Area

2400

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	:	Kulasur Singgayer Road, Hemayetpur, Saver, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

40000

Sq. ft.

Branches:

Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	50	In Factory	:	3950
	In Branch:	:	-	Total	:	4000
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Mr. M. A. Kader	50000
Mrs. Sultana Begum Moni	25000
Mr. Mrs. Rezia Begum	25000

DIRECTORS

Name	Designation
Mr. M. A. Kader	Chairman
Mrs. Sultana Begum Moni	Managing Director
Mr. Mrs. Rezia Begum	Director

MANAGEMENT

Name	:	Mr. Moshiur Rahman
Job Description	:	Executive Director
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :

Manufacturer

Trader

Dealer

Distributor

Exporter

Importer

Services

Others

Range of Products:

Products

All Kinds of Leather Product

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			:	North America, EU Nations, Japan, the Far East Countries, Hong Kong, China	Local Clients	:	N/A
		Overseas Suppliers			:	N/A	Local Suppliers	:	N/A
Trade Markets	:	Exports			:	N/A
		Imports			:	China, India, Pakistan

Brand Name			:	N/A
Certified			:	N/A
Auditors			:	N/A
Operation Status			:	Active
Member			:	Dhaka Chamber of Commerce & Industry, Dhaka

CAPITAL STRUCTURE

Authorized Capital	:	Tk. 5 Crore
Paid-up Capital	:	Tk. 1, 00,00,000	No. of Shares	:	1, 00,000	Share Value	:	Tk.100.00Each
Main Assets	:	Tk. 1205.20 Million

FINANCIAL STATEMENT- DETAILED

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

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns	:	Crescent Tanneries Limited
Subsidiary	:	Nil
Name of The Group	:	Nil

BANKING

Bank Name

Janata Bank Ltd.

Bank Address

Imamgong Branch

20, Imamgonj, Dhaka-1100,

Phone: 7316082-3

Fax: 7314333

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, Hazaribagh, Dhaka-1209, Bangladesh. The subject company Executive Director Mr. Moshiur Rahman given us all information. Is situated at commercial area which is a well decorated modern office.

GENERAL COMMENTS

Based on the financial statements, SC’s financial performance appears to be average. SC has been in its line of business for about 9 years. Taking into account its long-standing history, reputation in the market, as well as its financial condition, we recommend that credit may proceed in moderate amounts.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.79
UK Pound	1	Rs.99.30
Euro	1	Rs.78.16

INFORMATION DETAILS

Analysis Done by :	SUM

Report Prepared by :	SHG

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