3decades

MIRA INFORM REPORT

Report No. :	501769
Report Date :	14.04.2018

IDENTIFICATION DETAILS

Name :	CHAN TRADERS

Registered Office :	232, Nawabpur Road, Dhaka-1100

Country :	Bangladesh

Financials (as on) :	30.06.2017(Financials- Summary)

Date of Incorporation :	1990

Legal Form :	Sole Proprietorship

Line of Business :	Distributor, Importer, of all Kinds of Fittings, Hardware Tool, Bulb

No. of Employees :	24

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Moderate

Payment Behaviour :	Slow

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

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	:	Chan Traders
Head Office	:	232, Nawabpur Road, Dhaka-1100, Bangladesh
Tel No	:	88-02-7122402
Fax No	:	Nil
E-mail	:	info@chantradersbd.com, chantraders1996@gmail.com
Website	:	www.chantradersbd.com
Date/ Year of Establishment	:	1990
Trade License No	:	0454442
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 South City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export

Other Registry & Certification Details

Import Registration Certificate No	:	Ba-0162692	Date of Registration	:	N/A
Issuing Authority	:	Chief Controller of Import & Export (CCIE)

FINANCIALS- SUMMARY

Year	Turnover/ Sales	Assets	Income
30^th June, 2016	BDT 42 Million	BDT 6.50 Million	BDT 0.65 Million
30^th June, 2017	BDT 58 Million	BDT 7.31 Million	BDT 0.89 Million

FULLCHECK REPORT DETAILS

*Information Parted By*
Name	:	Mr. Md. Saidul Hoque
Designation	:	Proprietor
Contract No	:	88-01711533457

*Locations Details*
Business Address	:	232, Nawabpur Road, Dhaka-1100, Bangladesh
Tel No	:	88-02-7122402
Fax No	:	Nil
E-mail	:	info@chantradersbd.com, chantraders1996@gmail.com
Website	:	www.chantradersbd.com

Location :

: Owned

Rented

Leased

Area

500

Sq. ft.

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

Address		:	232, Nawabpur Road, Dhaka-1100, Bangladesh
Tel No		:	Nil
Fax No		:	Nil

Location :

Owned

Rented

Leased

Area

1200

Sq. ft.

Branch Address:
Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	4	Warehouse	:	N/A
	Sales	:	20	Total	:	24
Details:

PROPRIETOR

Names of Proprietor		:		Mr. Md. Saidul Hoque
MANAGEMENT
Name	:		Mr. Md. Saidul Hoque
Job Description	:		Proprietor
Nationality	:		Bangladeshi
Email address	:		N/A
Other details	:		88-01711533457

Name	:		Mr. Rakib
Job Description	:		Manager
Nationality	:		Bangladeshi
Email address	:		md.rakib237@yahoo.com
Other details	:		88-01733922007

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Trader		Dealer	Distributor	Ö

	Exporter	Importer	Ö	Services	Others

Item Dealings In:

Products	:	All Kinds of Fittings, Hardware Tool, Bulb, etc.
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

Others

Credit :

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 6 Million

Assets	:	BDT 7.31 Million

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Name of The Group			:	Nil
Name of Mother Company			:	Nil
Subsidiary			:	Nil
Sister Concerns			:	Nil
BANKING
Bank Name	:	IFIC Bank Ltd.
Bank Address	:	Nawabpur Road Barek Plaza, 63, Nawabpur Road, P.S. Sutrapur, Dhaka, Bangladesh Tel: 88-02-9561036, 9561094, 01713064289 Fax: 88-02-7125268

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 232, Nawabpur Road, Dhaka-1100, Bangladesh. It’s situated at a Semi-commercial Area.

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 65.22
UK Pound	1	INR 92.77
Euro	1	INR 80.34
BDT	1	INR 0.79

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR

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)

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.