MIRA INFORM REPORT

Report No. :	349488
Report Date :	18.11.2015

IDENTIFICATION DETAILS

Name :	KHADIM CERAMICS LTD

Registered Office :	62, Kalshi Road, Section # 12, Mirpur, Dhaka- 1216

Country :	Bangladesh

Date of Incorporation :	21.06.1995

Legal Form :	Private Co

Line of Business :	Manufacturer and Distributor of Ceramic Tiles.

No. of Employees :	400

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No Complaints

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

EXECUTIVE SUMMARY

*IDENTIFICATION DETAILS*
Correct company Name	:	Khadim Ceramics Ltd
Head Office	:	62, Kalshi Road, Section # 12, Mirpur, Dhaka- 1216, Bangladesh
Tel No	:	88-02-9028230, 90284771-2
Fax No	:	Nil
E-mail	:	commercial@mcwlbd.com
Website	:	Nil
Date/ Year of Incorporation	:	21.06.1995
Incorporation No.	:	C-28650
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)

FINANCIALS- SUMMARY

Year	Turnover/ Sales	Assets	Income/ (Loss)
July’ 13~June’ 14	BDT 387 Million	BDT 292.52 Million	BDT 21.28 Million
July’ 14~June’ 15	BDT 465 Million	BDT 318.63 Million	BDT 26.97 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

FULLCHECK REPORT DETAILS

*Information Parted By*

Name	:	Mr. Mustafizur Rahman
Designation	:	Officer (Commercial)
Contract No	:	N/A

*Locations Details*

Operating Address	:	62, Kalshi Road, Section # 12, Mirpur, Dhaka- 1216, Bangladesh
Tel No	:	88-02-9028230, 90284771-2
Fax No	:	Nil
E-mail	:	commercial@mcwlbd.com
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

1800

Sq. ft.

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

Factory (Unit 1,2,3):

Address	:	Dholipara, Khadimnagar, Sylhet, Bangladesh
Tel No	:	88-0821-2872177
Fax No	:	88-0821-2870332

Location :

Owned

Rented

Leased

Area

Acores

Sales Display Center:

Address	:	House # 10, Road # 28, Block # K, Banani Model Town, Dhaka-1213, Bangladesh
Tel No	:	88-02-9891942, 8860137, 8837795
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	35	In Factory	:	350
	Sales Display Center : 15			Total	:	400
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Mr. Asif Ariff Tabani	179208
Mr. Sakif Ariff Tabani	179208
Mrs. Ishrat Tauhid Hassan	127840
Mrs. Nuzhat Abid Rawn	16674
Mr. Mansoor Rashid Tabani	107968
Mr. Yousuf Ariff Tabani	131429
Mrs. Rifat Sattar Pingar	16674
Mirpur Ceramic Works Ltd.	932000
Mr. Rashid WM Tabani	308999

DIRECTORS

Name	Designation
Mr. Asif Ariff Tabani	Chairman & Managing Director
Mr. Sakif Ariff Tabani	Director
Mrs. Ishrat Tauhid Hassan	Director
Mrs. Nuzhat Abid Rawn	Director

MANAGEMENT

Name	:	Mr. Mohammad Abdullah
Job Description	:	Company Secretary
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Eng. Ismail Faruque Chowdhury
Job Description	:	Executive Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Azad Kabir Khan
Job Description	:	Manager (Commercial)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Nature of Activity :	Manufacturer	Ö	Trader	Dealer	Distributor	Ö

	Exporter		Importer	Services	Others

Range of Products:

Products	:	Ceramic Tiles
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

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			:	Dhaka Chamber Of Commerce & Industry

CAPITAL STRUCTURE

Authorized Capital	:	BDT 500 Million
Paid-up Capital	:	BDT 20000000	No. of Shares	:	2000000	Share Value	:	BDT10.00Each
Main Assets	:	BDT 318.63 Million

FINANCIAL STATEMENT- DETAILED

The subject company don’t submit update financial figure to local registry office.
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Sister Concerns	:	Mirpur Ceramic Works Ltd.
Subsidiary	:	Nil
Name of The Group	:	Nil

BANKING

Bank Name	:	Bank Al-Falah Ltd.
Bank Address	:	Gulshan Branch 168, Gulshan Avenue, Gulshan North, Dhaka-1212, Bangladesh Tel: 88-02-8861848, 8861704 00 Fax: 88-02-8850714
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 62, Kalshi Road, Section # 12, Mirpur, Dhaka- 1216, Bangladesh. It is Situated at Semi-Commercial area.

GENERAL COMMENTS

The subject company is engaged in manufacturer & Distributor. It is reputed company in this line of business. We recommended that Credit can proceed normally in Moderate amount.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.98
UK Pound	1	Rs.100.11
Euro	1	Rs.70.35

INFORMATION DETAILS

Analysis Done by :	DIV

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%)

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.