MIRA INFORM REPORT

Report No. :	325900
Report Date :	06.06.2015

IDENTIFICATION DETAILS

Name :	SHAHID & SONS

Registered Office :	Rally Gate, Daulatput, Khulna

Country :	Bangladesh

Year of Establishment :	2002

Legal Form :	Sole Proprietorships

Line of Business :	Exporter of Raw Jute.

No. of Employees :	7

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company
Payment Behaviour :	Slow but correct
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

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	:	Shahid & Sons
Head Office	:	Rally Gate, Daulatput, Khulna, Bangladesh
Tel No	:	88-01711432671
Fax No	:	N/A
E-mail	:	shahid_sons75@yahoo.com
Website	:	Nil
Date/ Year of Incorporation	:	2002
Tread License No.	:	2/502
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	BDT 28 Million	BDT 12.65 Million	BDT 1.50 Million
July’ 13~June’ 14	BDT 47 Million	BDT 14.10 Million	BDT 2.12 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. SK. Shahidul Islam
Designation	:	Proprietor
Contract No	:	-

*Locations Details*
Business Address	:	Rally Gate, Daulatput, Khulna, Bangladesh
Tel No	:	88-01711432671
Fax No	:	N/A
E-mail	:	shahid_sons75@yahoo.com
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

750

Sq. ft.

Type of Office :	: Commercial Office Bldg.	Ö		Semi-commercial office Bldg.
Retail shop			Industrial Park
Business Center			Home Office
Residential Bldg.

Warehouse:
Address	:	Rally Gate, Daulatput, Khulna, Bangladesh
Tel No	:	N/A
Fax No	:	N/A

Location :

Owned

Rented

Leased

Area

10,000

Sq. ft.

Branches:
Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	2	Warehouse	:	5
	In Branch:	:		Total	:	7
Details:

PROPRIETOR/PARTNERS

Names of Proprietor

Mr. SK. Shahidul Islam

MANAGEMENT

Name	:	Mr. SK. Shahidul Islam
Job Description	:	Proprietor
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer		Trader	Dealer	Distributor

	Exporter	Ö	Importer	Services	Others

Item Dealings In:

Products	:	Raw Jute
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			:	N/A	Local Clients	:	N/A
		Overseas Suppliers			:	N/A	Local Suppliers	:	N/A
Trade Markets	:	Exports			:	N/A
		Imports			:	India, China

Brand Name			:	Nil
Certified			:	Nil
Auditors			:	N/A
Operation Status			:	Active
Member			:	Bangladesh Jute Association

CAPITAL STRUCTURE

Capital Invested	:	BDT 8 Million
Assets	:	BDT 14.10 Million

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns	:	Nil
Subsidiary	:	N/A
Name of The Group	:	Nil

BANKING

Bank Name

Rupali Bank Ltd

Bank Address

Corporate Branch,

Khulna, 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 Rally Gate, Daulatput, Khulna, Bangladesh. It is situated at commercial area.

GENERAL COMMENTS

SC is considered small-sized in its line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.90
UK Pound	1	Rs.71.82
Euro	1	Rs.97.97

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%)

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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.