|
Report No. : |
308764 |
|
Report Date : |
05.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
ACCESSORIES MART |
|
|
|
|
Registered Office : |
Keya Manson (2nd floor),
6, CDA Avenue, Momin Road, Chittagong |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Year of Establishments : |
2008 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Engaged as manufacturer
& Distributors of Printed Poly
Bag, Hanger, Back Board, Neck Board, Hang Tag, Price Tag, Photo Card/Board,
Photo in lay & Tissue Paper |
|
|
|
|
No of Employees : |
27 (05 in Office & 22 in Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 |
|
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 |
IDENTIFICATION DETAILS
|
||
|
Correct
concern Name |
: |
Accessories Mart |
|
Head
Office |
: |
Keya Manson (2nd floor), 6, CDA Avenue,
Momin Road, Chittagong, Bangladesh. |
|
Tel
No |
: |
88-01814395334, 01813388565 |
|
Fax
No |
: |
Nil |
|
E-mail |
: |
|
|
Website |
: |
Nil |
|
Year
of Incorporation |
: |
2008 |
|
Incorporation No. |
: |
N/A |
|
Legal
Form (General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole
Proprietorship 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 86 Million |
BDT 13.90 Million |
BDT 2.50 Million |
|
July’ 13~June’ 14 |
BDT 69 Million |
BDT 15.25 Million |
BDT 2.41 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
|
||
|
|
|
|
|
Name |
: |
Mr. Md. Hefaz |
|
Designation |
: |
Officer(Commercial) |
|
Contact No |
: |
88-01814395334 |
Locations Details
|
||
|
Operating
Address |
: |
Keya Manson (2nd
floor), 6, CDA Avenue, Momin Road, Chittagong, Bangladesh. |
|
Tel
No |
: |
88-01814395334, 01813388565 |
|
Fax
No |
: |
Nil |
|
E-mail |
: |
|
|
Website |
: |
Nil |
|
Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
800 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
|
|
Semi-commercial
office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
Ö |
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential
Bldg. |
|
|
|
|
|
|
|
Factory
Address: |
||
|
Address |
: |
1124, Bazid Bostari Road, East Nasirabad I/A,
Chittagong, Bangladesh. |
|
Owned |
|
|
Rented |
|
|
Leased |
Ö |
Area |
10000 |
Sq. ft. |
|
Employee: |
|
||||||
|
|
|
||||||
|
No.
of Employees |
In
Office |
: |
5 |
In
Factory |
: |
22 |
|
|
In Branch: |
: |
- |
Total
|
: |
27 |
||
PROPRIETOR/PARTNERS
|
||
|
Names of Proprietor
|
: |
Mr. Md. Abdul Mannan |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Hefaz |
|
Job Description |
: |
Officer(Commercial) |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01814395334 |
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
|
Services |
|
Others |
|
|
Range of Products: |
||
|
|
||
|
Products |
: |
Printed Poly Bag, Hanger, Back Board, Neck Board, Hang
Tag, Price Tag, Photo Card/Board, Photo in lay
& Tissue Paper. |
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 |
: |
India, China |
||||||
|
Brand Name |
: |
N/A |
|
Certified |
: |
N/A |
|
Auditors |
: |
N/A |
|
Operation Status |
: |
Active. |
|
Member |
: |
Bangladesh Garments Accessories & Packaging, Manufacturers &
Exporters Association |
CAPITAL STRUCTURE
|
||
|
Capital Invested |
: |
BDT 10 Million |
|
Assets |
: |
BDT 15.25 Million |
|
Bank Name |
: |
Shahjalal Islami
Bank Ltd. |
|
Bank Address |
: |
Agrabad Branch. 104, Agrabad C/A,
Chittagong Phone: 2523051-3
,2517781,2 Fax: 031-716960 agra@shahjalalislamibank.com |
|
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 concern address at Keya Manson (2nd floor), 6, CDA Avenue,
Momin Road, Chittagong, Bangladesh. Its office is decorated by normal
furniture. |
GENERAL COMMENTS
|
||||
|
Subject is mainly
engaged in Importer & Distributor. Their products are popular to the
local customers & their goodwill grows up day by day. We recommended that
Credit should be extended under guarantee in C.O.D to small amount. |
||||
|
Adopted
Abbreviations: |
|
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
UK Pound |
1 |
Rs.94.96 |
|
Euro |
1 |
Rs.69.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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.