MIRA INFORM REPORT
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Report No. : |
349441 |
|
Report Date : |
13.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SALA UDDIN ALI AHMED |
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|
|
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Registered Office : |
1 No. Ali Biponi, Laldighirpar, Sylhet |
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Country : |
Bangladesh |
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Date of Incorporation : |
1992 |
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Legal Form : |
Sole Proprietorships |
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Line of Business : |
Importer and Distributor of Coal, Plum Oil, Sugar, Milk, Flour, Chick Peas. |
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No. of Employee : |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Bangladesh |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
Executive
summary
|
IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Sala Uddin Ali Ahmed |
|
Head Office |
: |
1 No. Ali Biponi, Laldighirpar, Sylhet, Bangladesh |
|
Tel No |
: |
88-0821-715113, 711569 |
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Fax No |
: |
88-0821-727946 |
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E-mail |
: |
kaysara786@hotmail.com |
|
Website |
: |
Nil |
|
Date/ Year of Establishment |
: |
1992 |
|
Vat Registration No. |
: |
22021015990 |
|
Tax Identification No. |
: |
519839594365 |
|
Import Registration Certificate No. |
: |
Ba-87477 |
|
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’ 13~June’ 14 |
BDT 186 Million |
BDT 11.50 Million |
BDT 5.73 Million |
|
July’ 14~June’ 15 |
BDT 200 Million |
BDT 14.35 Million |
BDT 8.59 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 |
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FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Salah Uddin Ali
Ahmed |
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Designation |
: |
Proprietor |
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Contract No |
: |
N/A |
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Locations Details |
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Business Address |
: |
1 No. Ali Biponi, Laldighirpar, Sylhet, Bangladesh |
|
Tel No |
: |
88-0821-715113, 711569 |
|
Fax No |
: |
88-0821-727946 |
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E-mail |
: |
kaysara786@hotmail.com |
|
Website |
: |
Nil |
|
Location : |
: Owned |
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Rented |
Ö |
|
Leased |
|
Area |
2400 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Warehouse: |
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Address |
: |
1 No. Ali Biponi, Laldighirpar, Sylhet, Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
|
Owned |
|
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Rented |
Ö |
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Leased |
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Area |
20000 |
Sq. ft. |
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Branches: |
||
|
Address |
: |
Salim Mansion (1st Floor), Bishwa
Road, Mendibag, Syhet -3100, Bangladesh
|
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Tel No |
: |
88-0821-711654 |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
34 |
Warehouse |
: |
1 |
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In Branch: |
: |
15 |
Total |
: |
50 |
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Details: |
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PROPRIETOR
|
Names of
Proprietor |
: |
Mr. Salah Uddin Ali Ahmed |
MANAGEMENT
|
Name |
: |
Mr. Salah Uddin
Ali Ahmed |
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Job Description |
: |
Proprietor |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
Ö |
Services |
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Others |
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Item Dealings
In: |
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Products |
: |
Coal, Plum Oil, Sugar, Milk, Flour, Chick
Peas, |
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Production Capacity |
: |
N/A |
|
Last Year
Production |
: |
N/A |
Trading Terms:
|
Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
|
30 days |
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60 days |
Ö |
90 days |
|
|
days |
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Selling Terms : |
L/C |
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Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
DETAILED
DATA
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
India, China |
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Brand Name |
: |
Nil |
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Certified |
: |
Nil |
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Auditors |
: |
Nil |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL
STRUCTURE
|
Capital Invested |
: |
BDT 10 Million |
|
Assets |
: |
BDT 14.35
Million |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
Sister Concerns |
: |
Tazin Textile Ltd Hotel Star Pacific Foyez Ahmed Ferdous Falah Uddin Ali Ahmed Fakhor Uddin Ali Ahmed International Securities Company Ltd |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
N/A |
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BANKING
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Bank Name
|
: |
Mercentile Bank
Ltd. |
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Bank Address |
: |
Sylhet Branch Laldighirpar, Sylhet, Bangladesh Tel: 88-0821-723650 Fax: 88-0821-723722 |
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|
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Bank Name
|
: |
Commercial Bank of Ceylon |
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Bank Address |
: |
Sylhet Branch 982 Dargah Gate, Sylhet, Bangladesh Tel: 88-0821-2830035-7 |
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||
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Bank Name
|
: |
Prime Bank Ltd |
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Bank Address |
: |
Beanibazar Branch Address: Zaman Plaza (1st
Floor), Beanibazar, Sylhet, Bangladesh |
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|
|
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Bank Name
|
: |
United Commercial
Bank Ltd |
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Bank Address |
: |
Amborkhana Branch Airport Road, Amborkhana, Sylhet, Bangladesh Tel: 88-0821-712631 |
ADVERSE
DATA MONITORING
|
Dishonored Checks |
:
|
No Record Found |
|
Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
|
Performance Defaults |
: |
No Record Found |
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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 1 No. Ali Biponi, Laldighirpar, Sylhet, Bangladesh. It is Situated
at Commercial area. |
GENERAL
COMMENTS
|
The subject company is engaged in Importer & Distributor. It is
reputed company in this line of business. We recommended that Credit should
proceed with monitor in Small amount-periodical review. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.35 |
|
|
1 |
Rs.100.28 |
|
Euro |
1 |
Rs.71.30 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ANK |
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.