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MIRA INFORM REPORT
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Report No. : |
490201 |
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Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
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Name : |
PRIME MELANGE YARN MILLS LTD. |
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Registered Office : |
Kadamtali, Shyampur, Dhaka-1204 |
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Country : |
Bangladesh |
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Date of Incorporation : |
26.06.2000 |
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Com. Reg. No.: |
C-40603 |
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Legal Form : |
Private Co
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Line of Business : |
Manufacturer, Exporter and Importer of Melange Yarn, Polyester/Cotton Blended Yarn |
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No. of Employees : |
355 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
IDENTIFICATION DETAILS
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Correct company Name |
: |
PRIME MELANGE YARN MILLS LTD. |
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Head Office |
: |
Sena Kalyan Bhaban (8th Floor), 195, Motijheel C/A,
Dhaka-1000, Bangladesh. |
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Tel No |
: |
88-02-9564851-3, 9590570, 9564856 |
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Fax No |
: |
88-02-9564857 |
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E-mail |
: |
info@primegroup-bd.com |
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Website |
: |
www.primegroup.com.bd |
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Date/ Year of Incorporation |
: |
26.06.2000 |
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Incorporation No. |
: |
C-40603 |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
: |
Registrar of
Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income |
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30th June’2016 |
BDT 1163 Million |
BDT 2410.92 Million |
BDT 71.80 Million |
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30th June’2017 |
BDT 1658 Million |
BDT 2638.50 Million |
BDT 105.60 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Azizur Rahman |
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Designation |
: |
Deputy General Manager |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
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Sena Kalyan Bhaban (8th Floor), 195, Motijheel C/A,
Dhaka-1000, Bangladesh. |
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Tel No |
: |
88-02-9564851-3, 9590570, 9564856 |
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Fax No |
: |
88-02-9564857 |
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E-mail |
: |
info@primegroup-bd.com |
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Website |
: |
www.primegroup.com.bd |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
3600 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
Ö |
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Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory: |
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Address |
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Nandalalpur, Pagla, Narayangonj,
Bangladesh. |
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Tel No |
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Nil |
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Fax No |
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Nil |
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Owned |
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Rented |
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Leased |
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Area |
454 |
Decimals |
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Registered Address: |
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Address |
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Kadamtali, Shyampur, Dhaka-1204,
Bangladesh. |
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Tel No |
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Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
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20 |
In Factory |
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335 |
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In Branch: |
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- |
Total |
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355 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
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Mr. Md. Abdul Awal |
500000 |
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Mr. Md. Abul Basher |
40000 |
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Mst. Fatema Khatun |
75000 |
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Mr. Md. Abdul Karim |
22000 |
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Mst. Sanjida Awal |
20000 |
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Sajia Awal |
20000 |
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Mr. Asif Mahmud |
25000 |
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Prime Textile Spinning Spinning Mills Ltd |
400000 |
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Prime Composite Mills Ltd |
400000 |
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Prime Peoples Property Ltd |
50000 |
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Prime Steel Re-Rolling Mills Ltd |
150000 |
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Prime Dairy & poultry Ind. ltd |
300000 |
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Prime Fisheries Ind. Ltd |
300000 |
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Prime Blended yarn mills Ltd |
1650000 |
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Mrs. Khaleda Begum |
2875 |
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Mr. Khairul Alam Rabbi |
13417 |
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Mrs. Hasna Nayna Rika |
6708 |
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Mr. Md. Abdul Hafiz |
25000 |
DIRECTORS
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Name |
Designation |
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Mr. Md. Abdul Awal |
Chairman |
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Mr. Md. Abul Basher |
Managing Director |
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Mrs. Fatema Khatun |
Director |
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Mr. Md. Abdul Karim |
Director |
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Mr. Md. Abdul Hafiz |
Director |
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Mr. Abdul Halim |
Director |
MANAGEMENT
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Name |
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Mr. Md. Abul
Basher |
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Job Description |
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Managing Director |
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Nationality |
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Bangladeshi |
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Email address |
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N/A |
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Other details |
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N/A |
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Name |
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Mr. Mohsin
Patwary |
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Job Description |
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General Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Azizur Rahman |
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Job Description |
: |
Deputy General Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
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N/A |
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Other details |
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N/A |
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Name |
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Mr. Sirajul Haque |
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Job Description |
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Asst. General Manager |
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Nationality |
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Bangladeshi |
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Email address |
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N/A |
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Other details |
: |
N/A |
BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
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Exporter |
Ö |
Importer |
Ö |
Services |
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Others |
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Range of
Products: |
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Products |
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Melange Yarn, Polyester/Cotton Blended Yarn |
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Production Capacity |
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20822 kgs. per day |
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Last Year
Production |
: |
Do |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
DETAILED
DATA
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Overseas Clients |
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N/A |
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Local Clients |
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N/A |
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Overseas Suppliers |
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N/A |
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Local Suppliers |
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N/A |
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Exports |
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Europe, USA |
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Imports |
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India, China |
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Brand Name |
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N/A |
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Certified |
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N/A |
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Auditors |
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N/A |
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Operation Status |
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Active |
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Member |
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Bangladesh Textile Mills Association |
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CAPITAL
STRUCTURE
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Authorized Capital |
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BDT 1000 Million |
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Paid-up Capital |
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BDT 4000000000 |
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No. of Shares |
: |
4000000 |
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Share Value |
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BDT1000.00Each |
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Main Assets |
: |
BDT 2638.50 Million |
FINANCIAL
STATEMENT- DETAILED
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Summary Information Given |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
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Steel Enterprise Ltd. Prime Synthetics Ltd. Prime Knitwear’s Ltd. Prime Energy Limited Prime World Trade Ltd. Prime Ship Breakers Ltd. Prime FSS Recycling Ltd Prime Melange Mills Ltd. Prime Weaving Mills Ltd Prime Tran’s National ltd. Prime Textile Fabrics Ltd. Prime Composite Mills Ltd. Unique Steel Industries Ltd Prime Peoples Property Ltd. Prime Fisheries Industries Ltd. Prime Blended Yarn Mills Ltd. Prime Super Printing Mills Ltd. Prime Dairy & Poultry Ind. Ltd. Prime Rotor Spinning Mills Ltd. Prime Specialized Yarn Mills Ltd. Prime Steel Re-Rolling Mills Ltd. Prime Textile Spinning Mills Ltd. Prime Dyeing & Finishing Mills Ltd Doleswar Iron & Engineering Works Prime Information Technologies Ltd. Doleswar Iron & Engineering Works Ltd. |
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Subsidiary |
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Nil |
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Name of The Group |
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Prime Group |
BANKING
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Bank Name
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Bangladesh Development
Bank Ltd. Janata Bank Ltd. |
ADVERSE
DATA MONITORING
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Dishonored Checks |
:
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No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
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Clear |
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Performance Defaults |
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No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
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No Record Found |
SITE
VISIT COMMENTARY
|
|
Our Representative Visited the subject company Head office which is situated
at Sena Kalyan Bhaban (8th Floor), 195, Motijheel C/A, Dhaka-1000,
Bangladesh. It is situated at commercial area which is a well decorated
modern office. |
GENERAL
COMMENTS
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The subject company is reputed company in this line of business. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.27 |
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|
1 |
INR 89.72 |
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Euro |
1 |
INR 79.52 |
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BDT |
1 |
INR 0.77 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.