MIRA INFORM REPORT

 

 

Report No. :

320792

Report Date :

04.05.2015

 

IDENTIFICATION DETAILS

 

Name :

MAHMUD GROUP 

 

 

Registered Office :

House 25, Road 10, Setor 6, Uttara Model Town Dhaka 1230

 

 

Country :

Bangladesh

 

 

Year of Incorporation :

1997

 

 

Legal Form :

Partnership                   

 

 

Line of Business :

Manufacturer, Washing, Distributor, Exporter, Importer and Refinery of Yarn, Garments, Washing, Feeds, Oil, Pouitry, Ship Building       

 

 

No. of Employees :

1000

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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, 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

:

Mahmud Group 

Head Office

:

House# 270, Lane # 3, New DOHS Baridhara, Dhaka-1206, Bangladesh

Tel No

:

88-02-8411534

Fax No

:

Nil

E-mail

:

info@mahmudgroup-bd.com

Website

:

www.mahmudgroup.com 

Date/ Year of Incorporation

:

1997

Incorporation No.

:

Nil

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

 

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

     Income

July’ 12~June’ 13

BDT 3850 Million

BDT 2590  Million

BDT 211.75  Million

July’ 13~June’ 14

BDT 4568  Million

BDT 2987  Million

BDT 251.24  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. Sirajul Islam

Designation

:

General Manager

Contract No

:

N/A

 

 

Locations Details

 

Business Address

:

House# 270, Lane # 3, New DOHS Baridhara, Dhaka-1206, Bangladesh

Tel No

:

88-02-8411534

Fax No

:

Nil

E-mail

:

info@mahmudgroup-bd.com

Website

:

www.mahmudgroup.com 

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

7500

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

Ö

 

 

 

 

 

Factory-1:

 

Address

:

Shafipur, Kaliakoir, Gazipur, Bangladesh

Tel No

:

Nil

Fax No

:

Nil

Factory-2:

 

 

 

 

 

Address

:

Madhyam Sonaichori, Baraolia, Sitalpur, Sitakundo, Chittagong, Bangladesh

Tel No

:

Nil

Fax No

:

Nil

 

 

 

Factory-3:

 

 

 

 

 

Address

:

Hartakitola, Chandra, Kaliakoir, Gazipur

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

50

Acores

 

Registered Address:

Address

:

Progressive Tower (1st Floor), 1837, Sk. Mujib Road, Agrabad C/A, Chittagong, Bangladesh

Tel No

:

88-031-2524563, 2525465

Fax No

:

Nil

 

Branch:

Address

:

House # 25, Road # 10, Section # 6, Uttara, Dhaka-1230, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

 

Employee

 

No. of Employees 

 

In Office

:

300

Warehouse

:

700

In Branch:

:

 

Total

:

1000

Details:

 

                    

 

 

 

Board of Director              

 

Board of director               

:

 

Mr. A. K. M. Aminul Islam- Managing Director

Mrs. Fahmida Afroz-Director

Mr. Md. Nur Nabi Bhuiyan-Director

Mr. Gazi Mahbubul Alam-Director

Mr. Ashfaq Mahmud- Director

Mr. Rafee Mahmud- Director

 

 

MANAGEMENT

 

Name

:

Mr. Sirajul Islam

Job Description

:

General Manager

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01714166204

 

 

 

Name

:

Mr. Md. Raihan

Job Description

:

Deputy General Manager

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01714166213

 

 

BUSINESS OPERATIONS

 

Nature of Activity    :

Manufacturer

Ö

Washing

Ö

Dealer

 

Distributor

Ö

 

 

 

Exporter

Ö

Importer

Ö

Refinery

Ö

Others

 

 

 

 

Range of Products:

 

Products

:

Yarn, Garments, Washing, Feeds, Oil, Pouitry, Ship Building      

Production Capacity

:

 40 Tons a day

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

:

India, China

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

 Nil

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Capital Invested

:

BDT 1000 Million

 Assets

:

BDT 2987 Million

 

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Provita Milk & Meat Process Ltd

Provita Hat Cheries Limited

Provita Hatcheries Limited

Mahmud Denims Limited

Noor E Madina Overseas 

Pacific Oil Company Ltd

Mahmud Ship Yard Ltd

Provita Chicks Limited

Provita Oxygen Limited

Mahmud Washing Ltd

Mahmud Spinning Ltd

Provita Seeds Limited

Provita Fish Feed Ltd

Rupali Trading Agency

Provita Breeders Ltd

Mahmud Indigo Ltd

Mahmud Jeans Ltd

Mahmud Enterprise

Mousumi Enterprise

ABS Composition

Provita Ship Yard

Mars Textile Ltd

Provita Feed Ltd

Bhuiya Brothers

Subsidiary

:

Nil

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

Islami Bank Bangladesh Ltd.

Bank Address

:

Uttara Branch.

Kushal Centre, Uttara Model Town,

Dhaka, Bangladesh

Tel: 88-02-8920500, 8918055, 8923976

 

 

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 House# 270, Lane # 3, New DOHS Baridhara, Dhaka-1206, Bangladesh. It is situated at Residential area.

 

 

GENERAL COMMENTS

 

Based on the financial statements, SC’s financial performance appears to be Above Average. Taking into account its long-standing history, reputation in the market, as well as its financial condition, we recommend that Credit can proceed promptly in Fairly large amount

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.58

UK Pound

1

Rs.97.99

Euro

1

Rs.70.53

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

VNT

 

               

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.