MIRA INFORM REPORT

Report No. :	322401
Report Date :	21.05.2015

IDENTIFICATION DETAILS

Name :	M/S. RAFIQUL ISLAM

Registered Office :	Rupayan Golden age (7^th Floor), 99 Gulshan Avenue, Gulshan, Dhaka-1212,

Country :	Bangladesh

Year of Establishment :	2001

Legal Form :	Sole Proprietorships

Line of Business :	Subject is sellers and importer of fertilizer & agricultural products.

No. of Employee :	23

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, 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

Company name

M/S. RAFIQUL ISLAM



*IDENTIFICATION DETAILS*

Correct company Name	:	M/s. Rafiqul Islam
Head Office	:	Rupayan Golden age (7^th Floor), 99 Gulshan Avenue, Gulshan, Dhaka-1212, Bangladesh.
Tel No	:	88-02-9862557, 8827581, 8827425
Fax No	:	88-02-8133511
E-mail	:	s_b.joytun@yahoo.com
Website	:	www.sbgroupbd.net
Date/ Year of Incorporation	:	2001
Incorporation No.	:	N/A
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)


Year	Turnover/ Sales	Assets	Income
July’ 12~June’ 13	BDT 132 Million	BDT 27.80 Million	BDT 5.10 Million
July’ 13~June’ 14	BDT 89 Million	BDT 29.50 Million	BDT 4.05 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. Rafiqul Islam

Designation

Proprietor

Contract No

N/A

*Locations Details*
Operating Address	:	Rupayan Golden age (7^th Floor), 99 Gulshan Avenue, Gulshan, Dhaka-1212, Bangladesh.
Tel No	:	88-02-9862557, 8827581, 8827425
Fax No	:	88-02-8133511
E-mail	:	s_b.joytun@yahoo.com
Website	:	www.sbgroupbd.net

Location :

: Owned

Rented

Leased

Area

1200

Sq. ft.

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

Warehouse:

Address	:	Station Bazar, Noapara, Jessore, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

15,000

Sq. ft.

Showroom-1:
Address	:	Phultala Bazar, Phultala, Khulna, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Showroom-2:
Address	:	Station Bazar, Noapara, Jessore, Bangladesh.
Tel No	:	88-041-701053
Fax No	:	Nil

Branch :
Address	:	Dhaka Stock Exchange Annex Building (9^th floor, Suit # 1033), 9/F, Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	7	Warehouse	:	3
	In Branch:	:	13	Total	:	23
Details:

Names of Proprietor

Mr. Rafiqul Islam

Name

Mr. Rafiqul Islam

Job Description

Proprietor

Nationality

Bangladeshi

Email address

N/A

Other details

N/A

Name

Mr. Shafiur Rahman

Job Description

Manager

Nationality

Bangladeshi

Email address

N/A

Other details

N/A


Nature of Activity :	Manufacturer	Trader		Sellers	Ö	Distributor

	Exporter	Importer	Ö	Services		Others

Item Dealings In:

Products	:	Fertilizer & Agricultural Products.
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


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, Thailand
Brand Name			:	N/A
Certified			:	N/A
Auditors			:	N/A
Operation Status			:	Active
Member			:	N/A

Capital Invested

BDT 10 Million

Assets

BDT 29.50 Million

Sister Concerns

S. R. Enterprise

M/S. Rafiqul Islam

Gemcon Cement ltd.

Shiekh Jute Mills Ltd.

M/S. Sheikh Brothers

M/S. Hafizur Rahman

Grand Developers Ltd.

Regent Properties Ltd

Joytun Developers Ltd.

Goldhill Properties Ltd.

Sheikh Cement Mills Ltd.

Islam fertilizer Enterprise

S.B. Agro Fertilizer Mills Ltd.

Joytun Securities International Ltd.

Subsidiary

Nil

Name of The Group

SB Group


Bank Name	:	Agrani Bank Ltd.
Bank Address	:	Jessore Branch Jess Tower, Jessore-7400 Tel: 88-0421-66516, 66175 Fax: 88-0421-66523

Bank Name	:	United Commercial Bank Ltd.
Bank Address	:	Noapara Branch Patherhat, Vill-Noapara P.S-Rawzan, Chittagong 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 Rupayan Golden age (7th Floor), 99 Gulshan Avenue, Gulshan, Dhaka-1212, Bangladesh. It is situated at Residential area which is a well decorated modern office.

Subject is mainly engaged in Importer & Distributor. The subject company is very small company which we recommended that Credit should be extended under guarantee in C.O.D to small amount.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.87
UK Pound	1	Rs.98.89
Euro	1	Rs.70.73

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%)

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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.

MIRA INFORM REPORT

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