|
|
|
MIRA INFORM REPORT
|
Report No. : |
503102 |
|
Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SOUTHERN TRADING |
|
|
|
|
Registered Office : |
16/B, Kazim Ali Road, Chittagong-4203, Bangladesh |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
30.06.2017 (Financials summarized) |
|
|
|
|
Date of Incorporation : |
2012 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Importer, Distributor of Food, Gram, Spices, Lentils |
|
|
|
|
No. of Employees : |
4 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Bangladesh |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
BANGLADESH - ECONOMIC OVERVIEW
Bangladesh's economy has grown roughly 6% per year since 1996 despite prolonged periods of political instability, poor infrastructure, endemic corruption, insufficient power supplies, and slow implementation of economic reforms. Although more than half of GDP is generated through the services 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 were on track to again surpass $25 billion in 2017. The sector continues to grow, despite the need for improvements in factory working conditions to avert further high-profile accidents that have killed more than 1,000 workers in recent years. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $13 billion and 6% of GDP in 2016 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.
The recent influx of hundreds of millions of additional refugees from Burma will place pressure on the Bangladeshi government’s budget and the country’s rice supplies, which declined in 2017 in part because of adverse weather.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Southern Trading |
|
Head Office |
: |
16/B, Kazim Ali Road, Chittagong-4203, Bangladesh |
|
Tel No |
: |
88-031-638103 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
gulistanctg@gmail.com |
|
Website |
: |
Nil |
|
Date/ Year of Establishment |
: |
2012 |
|
Trade License No |
: |
132312 |
|
Legal Form (General) |
: |
Public Listed
Co Public (but not
listed) Private Co State-owned Co Sole
Proprietorship 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 |
|
|
||||||||
Import Registration Certificate No |
: |
Ba-022917 |
Date of Registration |
: |
N/A |
|||
|
Issuing Authority |
: |
Chief Controller of Import & Export (CCIE) |
||||||
FINANCIALS-
SUMMARY
|
Year |
Turnover/ Sales |
Assets |
Income |
|
30th June, 2016 |
BDT 22 Million |
BDT 6.50 Million |
BDT 0.41 Million |
|
30th June, 2017 |
BDT 29 Million |
BDT 7.21 Million |
BDT 0.65 Million |
FULLCHECK
REPORT DETAILS
|
Information Parted By |
||
|
Name |
: |
Mr.
Rashad Alam |
|
Designation |
: |
Manager
|
|
Contract No |
: |
88-01712250126 |
|
Locations Details |
||
|
Business Address |
: |
16/B, Kazim Ali Road, Chittagong-4203, Bangladesh |
|
Tel No |
: |
88-031-638103 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
gulistanctg@gmail.com |
|
Website |
: |
Nil |
|
Location : |
:
Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
400 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
|
|
Semi-commercial
office Bldg. |
|
|
|
||
|
Rental Shop |
Ö |
|
Industrial
Park |
|
|
|
|||
|
Business Center |
|
|
Home
Office |
|
|
|
|||
|
Residential Bldg. |
|
|
|
|
|
||||
|
Warehouse: |
|||||||||
|
|
|||||||||
|
Address |
: |
16/B, Kazim Ali Road,
Chittagong-4203, Bangladesh |
|||||||
|
Tel No |
: |
Nil |
|||||||
|
Fax No |
: |
Nil |
|||||||
|
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
900 |
Sq. ft. |
|
Branch Address: |
||
|
Address |
: |
Nil |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
4 |
Warehouse |
: |
N/A |
||
|
In Branch |
: |
N/A |
Total
|
: |
4 |
|||
|
Details: |
|
|
|
|||||
PROPRIETOR
|
Names
of Proprietor |
: |
Mr. Abdur Razzak |
MANAGEMENT
|
||
|
Name |
: |
Mr. Abdur Razzak |
|
Job Description |
: |
Proprietor |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01819311756 |
|
|
|
|
|
Name |
: |
Mr.
Rashad Alam |
|
Job Description |
: |
Manager
|
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01712250126 |
BUSINESS
OPERATIONS
|
Nature of Activity
: |
Manufacturer |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|
|||||||
|
|
Exporter |
|
Importer |
Ö |
Services
|
|
Others |
|
|
Item
Dealings In: |
||
|
|
||
|
Products |
: |
Food, Gram, Spices, Lentils |
|
Import Products |
: |
N/A |
|
Export
products |
: |
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 |
|||||
CAPITAL
STRUCTURE
|
Capital
Invested |
: |
BDT
5.50 Million |
|
|
||
|
Assets |
: |
BDT
7.21 Million |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
Name of The Group |
: |
Nil |
|
||
|
Name of Mother Company |
: |
Nil |
|
||
|
Subsidiary |
: |
Nil |
|
||
|
Sister Concerns |
: |
Nil |
|
||
BANKING
|
|
||||
|
Bank Name |
: |
Bank
Asia Limited |
|||
|
Bank Address |
: |
Khatunganj Branch 273/268, Khatunganj,
Chittagong-4000, Bangladesh Tel: 88-031-610036, 638013 Fax: 88-031-632905 |
|||
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 16/B, Kazim Ali Road, Chittagong-4203, Bangladesh. It’s
in a Rental shop. |
GENERAL
COMMENTS
|
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 |
INR 65.35 |
|
|
1 |
INR 92.70 |
|
Euro |
1 |
INR 80.80 |
|
BDT |
1 |
INR 0.79 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.