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MIRA INFORM REPORT
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Report No. : |
486042 |
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Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
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Name : |
AKUNZEE BROTHERS |
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Registered Office : |
No 40/1, Raligate, D.C. Road, Khulna |
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Country : |
Bangladesh |
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Date of Incorporation : |
1980 |
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Legal Form : |
Sole Proprietorships |
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Line of Business : |
Subject is engaged in Distributor, Exporter of Raw Jute & Jute Goods. |
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No. of Employees : |
20 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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
|
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
|
Correct company Name |
: |
Akunzee
Brothers |
|
Head Office |
: |
No 40/1, Raligate, D.C. Road, Khulna, Bangladesh.
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Tel No |
: |
88-041-774565, 01711218923, 01711295307 |
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Fax No |
: |
Nil |
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E-mail |
: |
akunzee@yahoo.com |
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Website |
: |
Nil |
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Date/ Year of
Incorporation |
: |
1980 |
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Trade License No |
: |
2/94 |
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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) |
Other
Registry & Certification Details
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Shipper License No |
: |
JB (2) 1100 |
Date of Registration |
: |
N/A |
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Issuing Authority |
: |
Cloth & Jute Ministry |
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Taxpayer’s
Identification No (TIN) |
: |
415-100-6475 |
Date of Registration |
: |
N/A |
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Issuing
Authority |
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National Board of Revenue |
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Value Added Tax(VAT) No |
: |
15021020050 |
Date of Registration |
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N/A |
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Issuing Authority |
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National Board of Revenue |
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Export
Registration certificate No |
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B - 012197 |
Date of Registration |
: |
08.11.1995 |
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Issuing
Authority |
: |
Chief Controller of Import
& Export (CCIE) |
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FINANCIALS-
SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
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July’ 15~June’ 16 |
BDT 41 Million |
BDT 15.28 Million |
BDT 1.82 Million |
|
July’ 16~June’ 17 |
BDT 71 Million |
BDT 16.25 Million |
BDT 2.30 Million |
FULLCHECK
REPORT DETAILS
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Name |
: |
Mr. A. M. Harunar Rashid Akunzee |
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Designation |
: |
Proprietor |
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Contract No |
: |
88-01712270207 |
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Locations Details |
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Business Address |
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No 40/1, Raligate, D.C. Road, Khulna, Bangladesh.
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Tel No |
: |
88-041-774565, 01711218923, 01711295307 |
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Fax No |
: |
Nil |
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E-mail |
: |
akunzee@yahoo.com |
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Website |
: |
Nil |
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Location : |
:
Owned |
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Rented |
Ö |
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Leased |
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Area |
650 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
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Semi-commercial office Bldg. |
Ö |
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Address |
: |
Khan A Sabur Road Daulatpur, Khulna,
Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Owned |
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Rented |
Ö |
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Leased |
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Area |
25000 |
Sq. ft. |
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Employee: |
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No. of Employees
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In Office |
: |
4 |
Warehouse |
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16 |
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In Branch: |
: |
Nil |
Total |
: |
20 |
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PROPRIETOR
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Names of
Proprietor
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: |
Mr. A. M. Harunar Rashid Akunzee |
MANAGEMENT
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Name |
: |
Mr.
A. M. Harunar Rashid Akunzee |
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Job Description |
: |
Proprietor |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01712270207 |
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Name |
: |
Mr. Kashinath Aic |
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Job Description |
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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. Nihar Ranjan Acharja |
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Job Description |
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Manager (Export) |
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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 |
: |
88-01682894452 |
BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
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Trader |
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Dealer |
Ö |
Distributor |
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Item
Dealings In: |
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Products |
: |
Raw Jute & Jute
Goods. |
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Production Capacity |
: |
N/A |
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Last Year Production |
: |
N/A |
Trading Terms:
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Purchasing Terms: |
L/C |
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Cash |
Ö |
Others |
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Credit : |
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30 days |
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60 days |
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90 days |
Ö |
0 |
days |
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Selling Terms : |
L/C |
Ö |
Cash |
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Others |
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|||
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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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Trade Reference & Related
Parties |
: |
Overseas Clients |
: |
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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Local people |
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Trade Markets |
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Exports(Country) |
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India, Pakistan, china |
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Imports(Country) |
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N/A |
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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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Name of
Auditors |
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N/A |
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Operation
Status |
: |
Active |
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CAPITAL
STRUCTURE
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Capital
Invested |
: |
BDT 10
Million |
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Assets |
: |
BDT 15.83
Million |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Abir Jute Fibers
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Nil |
BANKING
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Bank Name |
: |
Sonali Bank Ltd
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Bank Address |
: |
Daulatpur Branch, Khulna Sadar, Khulna, Bangladesh Tel: +88041 813294,
725435, 722437 |
ADVERSE
DATA MONITORING
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Dishonored Checks |
: |
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 |
: |
No
Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
: |
No
Record Found |
SITE
VISIT COMMENTARY
Our District representative visited the subject company which is situated
at No 40/1, Raligate, D.C. Road, Khulna, Bangladesh. It is situated at
Semi-commercial area.
GENERAL
COMMENTS
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The subject company is engaged in exporter of Raw Jute.
The subject company is small company which we recommended that Credit should
be extended under guarantee in C.O.D to small amount. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.76 |
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|
1 |
INR 87.91 |
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Euro |
1 |
INR 78.20 |
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BDT |
1 |
INR 0.78 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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Report Prepared
by : |
DNS |
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.