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Report No. : |
317139 |
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Report Date : |
16.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
BAKSHIGONJ JUTE
SPINNERS LTD |
|
|
|
|
Registered Office : |
132/1, West Nakhalpara, Banker Road, Tejgaon, Dhaka-1215 |
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Country : |
Bangladesh |
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Date of Incorporation : |
16.05.2011 |
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Com. Reg. No.: |
C-92812 |
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|
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Legal Form : |
Private Company |
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Line of Business : |
Processing, Distributor and Exporter of Jute Yarn & Jute Goods. |
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No. of Employees : |
85 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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|
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Bangladesh |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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, accounted for more
than 80% of total exports and surpassed $18 billion in 2014. 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 $14 billion and 8% of GDP in 2014 -
are the largest contributors to Bangladesh’s current account surplus and rising
foreign exchange holdings.
|
Source
: CIA |
|
IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Bakshigonj Jute Spinners Ltd |
|
Registered office |
: |
132/1, West Nakhalpara, Banker Road,
Tejgaon, Dhaka-1215, Bangladesh |
|
Tel No |
: |
88-02-9841480 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
|
|
Website |
: |
www.bjslbd.com |
|
Date/ Year of Incorporation |
: |
16.05.2011 |
|
Registered No. |
: |
c-92812 |
|
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) |
|
Year |
Turnover/
Sales |
Assets |
Income |
|
|
July’ 12~June’
13 |
BDT 38 Million |
BDT 40 Million |
BDT 0.60 Million |
|
|
July’ 13~June’
14 |
BDT 61 Million |
BDT 49.32 Million |
BDT 2.50 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 |
||
|
Information
Parted By |
||
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|
|
|
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Name |
: |
Mr. Almas Uddin
Ahmed |
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Designation |
: |
General Manager |
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Contract No |
: |
N/A |
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Locations Details |
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Business Address |
: |
132/1, West Nakhalpara, Banker Road,
Tejgaon, Dhaka-1215, Bangladesh |
|
Tel No |
: |
88-02-9841480 |
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E-mail |
: |
|
|
Fax No |
: |
- |
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Website |
: |
www.bjslbd.com |
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Location : |
: Owned |
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Rented |
Ö |
|
Leased |
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Area |
2500 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
|
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Semi-commercial
office Bldg. |
Ö |
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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 |
: |
Char Kauria, Bakshigonj, Jamalpur, Bangladesh |
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Tel No |
: |
- |
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Fax No |
: |
- |
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Owned |
|
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Rented |
Ö |
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Leased |
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Area |
3.5 |
Acores |
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Employee: |
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|||||||
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|||||||
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No. of Employees |
In Office |
: |
10 |
In Factory |
: |
75 |
||
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In Branch: |
: |
- |
Total |
: |
85 |
|||
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Details: |
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|
|||||
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Names of Shareholders |
No. of Share |
|
Mr. Rashidul Haque Chisty |
50000 |
|
Mrs. Rozy Chisty |
40000 |
|
Miss Rimi Chisty |
10000 |
|
Name |
Designation |
|
Mrs. Rozy Chisty |
Chairman |
|
Mr. Rashidul Haque Chisty |
Managing Director |
|
Name |
: |
Mr. Almas Uddin Ahmed |
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Email address |
: |
N/A |
|
Nationality |
: |
Bangladeshi |
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Job Description |
: |
General Manager |
|
Other details |
: |
N/A |
|
Nature of Activity : |
Processing |
Ö |
Trader |
|
Dealer |
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Distributor |
Ö |
|
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Exporter |
Ö |
Importer |
|
Others |
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Range of
Products/Item Dealings In: |
||
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|
Products |
: |
Jute Yarn & Jute Goods |
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Production Capacity |
: |
N/A |
|
Last Year
Production |
: |
N/A |
Trading Terms:
|
Purchasing Terms: |
L/C |
|
Cash |
Ö |
Others |
|
|
|||
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Credit : |
|
30 days |
|
60 days |
|
90 days |
Ö |
0 |
days |
|
Selling Terms : |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
|
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
Local Farmers |
|||
|
Trade Markets |
: |
Exports |
: |
China, Pakistan |
||||
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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 |
: |
N/A |
||||||
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Operation Status |
: |
Active |
||||||
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Member |
: |
N/A |
||||||
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Authorized
Capital |
: |
BDT 50 Million |
|
||||||
|
Paid-up Capital |
: |
BDT 1,00,00,000 |
No.
of Shares |
: |
1,00,000 |
Share
Value |
: |
BDT 100.00Each |
|
|
Main Assets |
: |
BDT 49.32 Million |
|
||||||
|
The subject company don’t submit update
financial figure to local registry office. |
|
Dishonored Checks |
:
|
No Record Found |
|
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 |
|
Our representative
visited the subject company Head office which is situated at 132/1,West
Nakhalpara, Banker Road, Tejgaon, Dhaka-1215, Bangladesh. This area is a
Residential area. |
|
The subject company is engaged in Processing, Exporter &
Distributors. The subject company maintains acceptable business volume. Based
on the financial statements, SC’s financial performance appears to be Fair. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.92.15 |
|
Euro |
1 |
Rs.66.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
|
|
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.