MIRA INFORM REPORT

 

 

Report No. :

301378

Report Date :

06.01.2014

 

IDENTIFICATION DETAILS

 

Name :

MOHAMMADI ELECTRIC WIRE'S & MULTI PRODUCTS (MEP) LTD

 

 

Formerly Known As :

MOHAMMADI ELECTRIC WIRE'S & MULTI PRODUCTS LTD.

 

 

Registered Office :

Swarup Ali Cairman Lane, Hatkhola, Barisal-8200

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

09.06.2010

 

 

Com. Reg. No.:

C-84975

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer, Distributor of Electrical Accessories, Cables

 

 

No. of Employee :

350

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Bangladesh

A2

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

 

 

EXECUTIVE SUMMARY

 

 

Order Date

:

29/12/2014

Order Ref. No

:

301378

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

Mohammadi Electric Wire's & Multi Products (MEP) Ltd

Company Previous Name

:

Mohammadi Electric Wire's & Multi Products Ltd.

Head Office

:

Swarup Ali Cairman Lane, Hatkhola, Barisal-8200, Bangladesh.

Tel No

:

88-0431-63864

Fax No

:

88-0431-62763

E-mail

:

jahangir042004@gmail.com,  monzurul101@gmail.com

Website

:

www.mepbd.com

Date/ Year of Incorporation

:

09/06/2010

Incorporation No.

:

C-84975

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)

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Monjurul Islam

Designation

:

Manager

Contract No

:

-

 

                                                               Locations Details

Operating Address

:

Swarup Ali Cairman Lane, Hatkhola, Barisal-8200, Bangladesh.

Tel No

:

88-0431-63864

Fax No

:

88-0431-62763

E-mail

:

jahangir042004@gmail.com,  monzurul101@gmail.com

Website

:

www.mepbd.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

1800

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

:

Swarup Ali Cairman Lane, Hatkhola, Barisal-8200, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

20,000

Sq. ft.

 

Corporate Office :

 

 

 

Address

:

Eastern Arzoo Complex (12th Floor), 197, Shahid Sayed Nazrul Islam  Shoroni, (61 Bijoynogar), Dhaka-1000, Bangladesh

Tel No

:

N/A

Fax No

:

N/A

 

Branches:

 

 

 

 

 

Address

:

Khawja Electric Market(1st Floor ), 153, Nawabpur Road, Dhaka-1100,

 Bangladesh.

Tel No

:

88-02-9558581

Fax No

:

88-02-7125886

 

 

 

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

50

In Factory

:

275

In Branch:

:

25

Total

:

350

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Samsul Alam Chaklader

10000

Dr. Jahangir Alam Chaklader

10000

Monira Begum

10000

Dr. Nazma Haque

10000

Yesmin Khan

10000

 

 

DIRECTORS

 

Name

Designation

Dr. Jahangir Alam Chaklader

Managing Director

Mr. Samsul Alam Chaklader

Director

Monira Begum

Director

Dr. Nazma Haque

Director

Yesmin Khan

Director

 

 

MANAGEMENT

 

Name

:

Mr. Golam Mustafa Rana

Job Description

:

AGM

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr.Krishna Candra Shaha

Job Description

:

Manager (Factory)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01755520854

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

 

Range of Products:

 

Products

:

Electrical Accessories, Cables

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

 

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

:

China, India

 

 

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

Nil

Operation Status

:

Active

Member

:

 N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 50 Million

 

Paid-up Capital

:

BDT 5000000

    No. of Shares

:

50000

Share Value

:

BDT 100.00Each

Main Assets

:

BDT 46.20 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Mep Energy Saving & Industries

Subsidiary

:

Nil

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

Prime Bank Ltd.

Bank Address

:

Mouchak Branch

Manhattan Tower (1st Floor), 83, Siddheswari Circular Road,

Malibagh, Dhaka-1217

Phone: (02) 9338883, 9347757

Fax: 88-02-9338883

 

 

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 Swarup Ali Cairman Lane, Hatkhola, Barisal-8200, Bangladesh. It is situated at commercial area

 

GENERAL COMMENTS

 

Established in 2010, Subject is mainly engaged in producing and selling Electrical Accessories, Cables. Having been in operation for several years, Subject maintains acceptable business volume.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.39

UK Pound

1

Rs.96.84

Euro

1

Rs.75.67

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ANK

 

 

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.