MIRA INFORM REPORT

Report No. :	491086
Report Date :	10.02.2018

IDENTIFICATION DETAILS

Name :	TRADE INTERCONTINENTAL LTD.
Registered Office :	213/A Tejgaon I/A, Dhaka-1208, Bangladesh.
Country :	Bangladesh
Date of Incorporation :	27.02.2011
Com. Reg. No.:	C-90711
Legal Form :	Private Co
Line of Business :	Importer and Distributor of Sanitary ware
No. of Employees :	15

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 :	No Complaints
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 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	:	Trade Intercontinental Ltd.
Head Office	:	213/A Tejgaon I/A, Dhaka-1208, Bangladesh.
Tel No	:	88-02-9841602, 8819383
Fax No	:	88-02-8813340
E-mail	:	info@intercontinental.com, azad@intercontinental.com
Website	:	www.tradeintercontinental.com
Date/ Year of Incorporation	:	27.02.2011
Incorporation No.	:	C-90711
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 Cantonment Board Chief Controller of Import & Export (CCIE)

FINANCIALS- SUMMARY
Year	Turnover/ Sales	Assets	Income
30^th June’2016	BDT 58 Million	BDT 14.60 Million	BDT 1.21 Million
30^th June’2017	BDT 74 Million	BDT 15.95 Million	BDT 2.34 Million

FULLCHECK REPORT DETAILS

Information Parted By
Name	:	Mr. Md. Sahed Ali
Designation	:	Senior Manager
Contract No	:	88-01714057301

Locations Details
Operating Address	:	213/A Tejgaon I/A, Dhaka-1208, Bangladesh.
Tel No	:	88-02-9841602, 8819383
Fax No	:	88-02-8813340
E-mail	:	info@intercontinental.com, azad@intercontinental.com
Website	:	www.tradeintercontinental.com

Location :

: Owned

Rented

Ö

Leased

Area

2400

Sq. ft.

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

Warehouse:
Address	:	213/A Tejgaon I/A, Dhaka-1208, Bangladesh.
Tel No	:	88-02-9841602, 8819383, 01714 057301, 01755574792
Fax No	:	88-02-8813340

Location :

Owned

Rented

Ö

Leased

Area

4500

Sq. ft.

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

Employee:
No. of Employees	In Office	:	4	Warehouse	:	-
	Sales	:	11	Total	:	15
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Mr. Bazlul Haque	25000
Mrs. Sacha Haque	25000
Mr. Fatin Haque	25000
Mr. Arman Haque	25000

DIRECTORS

Name	Designation
Mr. Bazlul Haque	Managing Director
Mr. Sacha Haque	Director
Mr. Fatin Haque	Director
Mr. Arman Haque	Director

MANAGEMENT
Name	:	Mr. Bazlul Haque
Job Description	:	Managing Director
Nationality	:	Bangladeshi
Email address	:	N/A
Private Address	:	House# 15, Road No.# 59, Gulshan, Dhaka-1212, Bangladesh
Name	:	Mr. Md. Sahed Ali
Job Description	:	Senior Manager
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01714057301

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

Item Dealings In:
Products	:	Sanitary ware
Production Capacity	:	Nil
Last Year Production	:	Nil

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(Country)

:

N/A

Imports(Country)

:

USA & Spain

Brand Name

:

N/A

Certified

:

N/A

Name of Auditors

:

N/A

Operation Status

:

Active

Member

:

Dhaka Chamber of Commerce & Industry

CAPITAL STRUCTURE
Authorized Capital	:	BDT 160 Million
Paid-up Capital	:	BDT 10000000
No. of Shares	:	100000
Share Value	:	BDT100.00Each
Main Assets	:	BDT 15.95 Million

FINANCIAL STATEMENT- DETAILED

Summary Information Given.

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

BANKING
Bank Name	:	Dhaka Bank Ltd.
Bank Address	:	Banani Branch. 73/B Kemal Ataturk Avenue, Banani, Dhaka-1213 Tel: 88-02-9881582, Fax: 88-02-8813349

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 213/A Tejgaon I/A, Dhaka-1208, Bangladesh. It’s Industrial Area.

GENERAL COMMENTS

SC has been in its line of business for about 7 years. Taking into account its standing history, reputation in the market, as well as its financial condition,

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.37
UK Pound	1	INR 89.71
Euro	1	INR 78.89
BDT	1	INR 0.77

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

INFORMATION DETAILS

Analysis Done by :	PRA
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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.