MIRA INFORM REPORT

Report No. :	311468
Report Date :	13.03.2015

IDENTIFICATION DETAILS

Name :	EVERBEST LOGISTICS LTD.

Registered Office :	Concord I.K Tower, (5th Floor), Plot # 2, Block #Cen (A), North Avenue, Gulshan-2, Dhaka- 1212

Country :	Bangladesh

Date of Incorporation :	06.10.2009

Com. Reg. No.:	C-79992

Legal Form :	Private Co

Line of Business :	Subject is engaged in Shipping & logistics business. (Liner Agency, Air and Sea Freight, Warehousing Distribution, Supply Chain Management, Feeder Agents)

No. of Employee :	15

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate

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

IDENTIFICATION DETAILS
Correct company Name	:	EVERBEST LOGISTICS LTD.
Previse Name	:	Everbest Ocean & Air Logistics Ltd.
Head Office	:	Concord I.K Tower, (5th Floor), Plot # 2, Block #Cen (A), North Avenue, Gulshan-2, Dhaka- 1212, Bangladesh
Tel No	:	88-02-9892411, 8814457,
Fax No	:	Nil
E-mail	:	info@everbest.org, javed@everbest.org, anwar@everbest.org
Website	:	www.everbest.org
Date/ Year of Incorporation	:	06/10/2009
Incorporation No.	:	C-79992
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


Year	Turnover/ Sales	Assets	Income
July’ 12~June’ 13	BDT 75 Million	BDT 12.61 Million	BDT 2.32 Million
July’ 13~June’ 14	BDT 97 Million	BDT 14.30 Million	BDT 3.20 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. Shafiqul Islam
Designation	:	General Manager (Logistics)
Contract No	:	88-01819042162

*Locations Details*
Operating Address	:	Concord I.K Tower, (5th Floor), Plot # 2, Block #Cen (A), North Avenue, Gulshan-2, Dhaka- 1212, Bangladesh
Tel No	:	88-02-9892411, 8814457,
Fax No	:	Nil
E-mail	:	info@everbest.org, javed@everbest.org, anwar@everbest.org
Website	:	www.everbest.org

Location :

: Owned

Rented

Leased

Area

2200

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	:	Concord I.K Tower, (5th Floor), Plot # 2, Block #Cen (A), North Avenue, Gulshan-2, Dhaka- 1212, Bangladesh
Tel No	:	N/A
Fax No	:	N/A

Location :

Owned

Rented

Leased

Area

5,000

Sq. ft.

Chittagong Office:
Address	:	58, Agrabad C/A, 6th Floor, Chittagong, Bangladesh
Tel No	:	88-031-725719,714755
Fax No	:	88-031-710561
Khulna Office:
Address	:	Ansari Bhaban (2nd floor), 160, Sher-E-Bangla Road, Khulna, Bangladesh
Tel No	:	88-041-721545,721333
Fax No	:	88-041-722194

Employee:

No. of Employees	In Office	:	7	In Factory	:	4
	In Branch:	:	4	Total	:	15
Details:


Names of Shareholders	No. of Share
Mr. Faruber Anwar	8500
Mr. Golam Javed Mallick	1500

Name

Designation

Mr. Faruber Anwar

Managing Director

Mr. Golam Javed Mallick

Director


Name	:	Mr. Shafiqul Islam
Job Description	:	General Manager (Logistics)
Nationality	:	Bangladeshi
Email address	:	shafique@everbest.org
Other details	:	88-01819042162


Nature of Activity :	Shipping	Ö	Trader	Logistics	Ö	Distributor

	Exporter		Importer	Services		Others

Range of Products/Item Dealings In:

Products	:	Liner Agency, Air and Sea Freight, Warehousing Distribution, Supply Chain Management, Feeder Agents
Production Capacity	:	N/A
Last Year Production	:	N/A

Trading Terms:

Purchasing Terms:	L/C	N/A	Cash		Others
	Credit :		30 days		60 days		90 days			days

Selling Terms :	L/C	N/A	Cash		Others
	Credit :		30 days		60 days		90 days			days

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

N/A

Brand Name

Nil

Certified

Nil

Auditors

Nil

Operation Status

Active

Member

N/A

Authorized Capital

BDT 10 Million

Paid-up Capital

BDT 1000000

No. of Shares

10000

Share Value

BDT100.00Each

Main Assets

BDT 14.30 Million

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


Sister Concerns	:	Everbest Shipping Agencies Ltd Trident Shipping Line Ltd
Subsidiary	:	Nil
Name of The Group	:	Nil

Bank Name

Dutch Bangla Bank Ltd

Bank Address

Gulshan Branch

The Grand Delvistaa,CES (A) 1/A,

Road # 113,Gulshan Avenue,

Dhaka-1212, Bangladesh


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

Our representative visited the subject company Head Office which is situated at Concord I.K Tower, (5th Floor), Plot # 2, Block #Cen (A), North Avenue, Gulshan-2, Dhaka- 1212, Bangladesh. It is Situated at Residential area.

Subject is mainly engaged in Shipping & logistics business. 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.62.56
UK Pound	1	Rs.93.57
Euro	1	Rs.65.95

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	ASH

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.

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