MIRA INFORM REPORT

Report No. :	504418
Report Date :	21.04.2018

IDENTIFICATION DETAILS

Name :	PAX INTERNATIONAL LIMITED
Registered Office :	Concord Tower (Flat-1002), 113, Kazi Nazrul Islam Avenue, Dhaka-1000,
Country :	Bangladesh
Financials (as on) :	30.06.2017
Date of Incorporation :	26.11.2017
Com. Reg. No.:	C-141457
Legal Form :	Private Co
Line of Business :	Manufacturer, Packaging, Exporter, Importer, Supplier, and Printing of Fruits, Spices, Bitumen & All kind of Printing Materials
No. of Employees :	20

RATING & COMMENTS

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

MIRA’s Rating :

NB

Credit Rating	Explanation	Rating Comments
NB	New Business	No recommendation can be done due to business in infancy stage

Maximum Credit Limit :	USD 10,000
Status :	New Business
Payment Behaviour :	Unknown
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	:	Pax International Limited
Head Office	:	55/1, Purana Paltan (2^nd Floor, Suite# 302), Dhaka-1000, Bangladesh.
Tel No	:	88-02-9515781
Fax No	:	Nil
E-mail	:	mh.rupam@gmail.com
Website	:	Nil
Date/ Year of Incorporation	:	26-11-2017
Incorporation No.	:	C-141457
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

Other Registry & Certification Details

Taxpayer’s Identification No (TIN)

:

817695755297

Date of Registration

:

N/A

Issuing Authority

:

National Board of Revenue

Value Added Tax(VAT) No

:

000866768

Date of Registration

:

N/A

Issuing Authority

:

National Board of Revenue

Import Registration Certificate No

:

Ba-110648

Date of Registration

:

N/A

Issuing Authority

:

Chief Controller of Import & Export (CCIE)

Trade license No

:

03-088256

Date of Registration

:

N/A

Issuing Authority

:

National Board of Revenue

FINANCIALS- SUMMARY

Year	Turnover/ Sales	Assets	Income/ (Loss)
30^th June, 2017	N/A	N/A	N/A

INQUIRER SPECIFIED CREDIT –TRADE FINANCE
Recommended Credit Range	:	USD 10,000 based on 90 days.

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Abdullah Al-Nahyan
Designation	:	Chief Executive Officer
Contract No	:	88-01794788810, 01725188904

Locations Details
Operating Address	:	55/1, Purana Paltan (2^nd Floor, Suite# 302), Dhaka-1000, Bangladesh.
Tel No	:	88-02-9515781
Fax No	:	Nil
E-mail	:	mh.rupam@gmail.com
Website	:	Nil

Location :

: Owned

Rented

Ö

Leased

Area

1200

Sq. ft.

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

Factory:
Address	:	Eden Complex, 167, Motijheel, Dhaka-1000, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Registered Address:
Address	:	Concord Tower (Flat-1002), 113, Kazi Nazrul Islam Avenue, Dhaka-1000, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	5	In Factory	:	15
	In Branch	:	N/A	Total	:	20
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share	Country
Mr. Mahmud Hossain	2000	Bangladesh.
Mr. Md. Moksedul Hasan	2000	Bangladesh.
Mr. Md. Abdullah-Al-Sufian	2000	Bangladesh.

DIRECTORS

1.
Name	:	Mr. Mahmud Hossain
Designation	:	Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
2.
Name	:	Mr. Md. Moksedul Hasan
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
3.
Name	:	Mr. Md. Abdullah-Al-Sufian
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT

Name	:	Mr. Md. Moksedul Hasan
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Abdullah Al-Nahyan
Job Description	:	Chief Executive Officer
Nationality	:	Bangladeshi.
Email address	:	mdnahyan@gmail.com
Other details	:	88-01794788810, 01725188904

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Ö	Trader		Dealer		Packaging	Ö
	Exporter	Ö	Importer	Ö	Supplier	Ö	Printing	Ö

Range of Products:
Products	:	Fruits, Spices, Bitumen & All kind of Printing Materials.
Production Capacity	:	N/A
Last Year Production	:	N/A
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	Ö	Cash	Others
	Credit :		30 days	60 days	Ö	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(Country)			:	Europe
		Imports(Country)			:	Middle East
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	N/A
Operation Status			:	Active

CAPITAL STRUCTURE

Authorized Capital	:	BDT 1 Million
Paid-up Capital	:	BDT 600000
No. of Shares	:	6000
Share Value	:	BDT 100.00 Each
Main Assets	:	N/A

FINANCIAL STATEMENT- DETAILED

Turnover of last six months of the subject company is 50 Million.

	ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
	Name of The Group			:	Nil
	Name of Mother Company			:	Nil
	Subsidiary			:	Nil
	Sister Concerns			:	Qwik Print Ltd Agilent International Ltd
BANKING
Bank Name		:	Islami Bank Bangladesh Ltd.
Bank Address		:	Islampur Branch 41-42, Islampur Road, Dhaka, Bangladesh. Tel: 88-02-7390383, 7393918, 01711693909

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 Purana Paltan (2^nd Floor, Suite# 302), 55/1, Dhaka-1000, Bangladesh. It’s situated at a Commercial Area.

GENERAL COMMENTS

The subject company engaged in Manufacturer Export, Import, Supplier, Printing & Packaging. which was established not yet one year. SC’s trying to establish the company in good faith.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.02
UK Pound	1	INR 92.73
Euro	1	INR 81.46
BDT	1	INR 0.80

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)

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.