MIRA INFORM REPORT

Report No. :	490092
Report Date :	06.02.2018

IDENTIFICATION DETAILS

Name :	ASIA ALLIED FABRICS LIMITED
Registered Office :	732, East Biberhat, Hathazari Road, Chittagong
Country :	Bangladesh
Date of Incorporation :	10.12.2009
Com. Reg. No.:	CH-7389
Legal Form :	Private Co
Line of Business :	Manufacturer, Exporter and Importer of Non-Woven Fabrics
No. of Employees :	40

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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 (30.06.2017)	Current Rating (30.09.2017)
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 surpassed $25 billion in 2016. The sector continues to grow, despite a series of high-profile factory accidents that have killed more than 1,000 workers and crippling strikes, including a nationwide transportation blockade orchestrated by the political opposition during the first several months of 2015. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $15 billion and 8% of GDP in 2015 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.

Source : CIA

IDENTIFICATION DETAILS
Correct company Name	:	ASIA ALLIED FABRICS LIMITED
Head Office	:	732, East Biberhat, Hathazari Road, Chittagong, Bangladesh
Tel No	:	88-031-2580141, 2580143, 683450, 01670000060
Fax No	:	N/A
E-mail	:	asifan10@yahoo.com
Website	:	www.asiagroupbd.com
Date/ Year of Incorporation	:	10.12.2009
Incorporation No.	:	CH-7389
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

FINANCIALS- SUMMARY
Year	Turnover/ Sales	Assets	Income/ (Loss)
30^th June, 2016	BDT 181 Million	BDT 171.92 Million	BDT 3.98 Million
30^th June, 2017	BDT 210Million	BDT 182.80 Million	BDT 5.10 Million

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Mamun Ahmed
Designation	:	Officer
Contract No	:	88-01670000060

Locations Details
Operating Address	:	732, East Biberhat, Hathazari Road, Chittagong, Bangladesh
Tel No	:	88-031-2580141, 2580143, 683450, 1670000060
Fax No	:	N/A
E-mail	:	asifan10!yahoo.com
Website	:	www.asiagroupbd.com

Location :

: Owned

Rented

Ö

Leased

Area

1200

Sq. ft.

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

Factory:
Address	:	B/P-3 And A-P Mohara Cda Industrial Area Kalurghat Chittagong
Tel No	:	Nil
Fax No	:	Nil

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

Employee:
No. of Employees	In Office	:	10	In Factory	:	30
	In Branch	:	N/A	Total	:	40

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share	Country
Mr. Habib Mohiuddin	5000	Bangladesh.
Mr. Shafique Mohiuddin	5000	Bangladesh.
Mr. Mahboob Mohiuddin	5000	Bangladesh.
Mr. Mohammed Osman	5000	Bangladesh.
Mr. Mohammed Ahmed	5000	Bangladesh.
Mr. Mohammed Hasan	5000	Bangladesh.

DIRECTORS
1.
Name	:	Mr. Shafique Mohiuddin
Designation	:	Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
2.
Name	:	Mr. Habib Mohiuddin
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
3.
Name	:	Mr. Mahboob Mohiuddin
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
4.
Name	:	Mr. Mohammed Osman
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
5.
Name	:	Mr. Mohammed Ahmed
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

6.
Name	:	Mr. Mohammed Hasan
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT
Name	:	Mr. Habib Mohiuddin
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Mohammed Saqib
Job Description	:	Manager
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Mamun Ahmed
Job Description	:	Officer
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	88-01670000060

BUSINESS OPERATIONS
Nature of Activity :	Manufacturer	Ö	Trader		Dealer	Distributor
	Exporter	Ö	Importer	Ö	Services	Others

Range of Products:
Products	:	Non-woven Fabrics
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			:	Nil
		Local Clients			:	Nil
		Overseas Suppliers			:	Nil
		Local Suppliers			:	Nil
Trade Markets	:	Exports(Country)			:	Europe
		Imports(Country)			:	India, China
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	N/A
Operation Status			:	Active

CAPITAL STRUCTURE
Authorized Capital	:	BDT 50 Million
Paid-up Capital	:	BDT 3000000
No. of Shares	:	30000
Share Value	:	BDT100.00Each
Main Assets	:	BDT 182.80 Million

FINANCIAL STATEMENT- DETAILED

Summary Information Given.

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Name of The Group	:	Asia Group
Name of Mother Company	:	Nil
Subsidiary	:	Nil
Sister Concerns	:	Nil

BANKING
Bank Name	:	Exim Bank Ltd
Bank Address	:	Chittagong, Bangladesh

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 732, East Biberhat, Hathazari Road, Chittagong, Bangladesh. Its Commercial Area.

GENERAL COMMENTS

Subject is mainly engaged in Manufacturer, Importer & Exporter. It is well reputed company in this line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.03
UK Pound	1	INR 90.40
Euro	1	INR 79.73
BDT	1	INR 0.77

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

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	TPT

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.