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MIRA INFORM REPORT
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Report No. : |
486926 |
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Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
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Name : |
BRIGHT FIBRE CORPORATION |
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Registered Office : |
218, West Kafrul (4th Floor), Begum Rokeya Soronni,
Dhaka-1207 |
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Country : |
Bangladesh |
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Year of Establishment : |
1986 |
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Legal Form : |
Sole Proprietorships |
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Line of Business : |
Exporter of Raw Jute |
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No. of Employees : |
18 |
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 : |
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 |
EXECUTIVE
SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Bright Fibre
Corporation |
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Head Office |
: |
218, West Kafrul (4th Floor), Begum Rokeya Soronni,
Dhaka-1207, Bangladesh. |
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Tel No |
: |
88-02-9115179,
01757500386 |
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Fax No |
: |
Nil |
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E-mail |
: |
brightfire@hotmail.com, brightfiber@qubeemail.com |
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Website |
: |
Nil |
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Date/ Year of Incorporation |
: |
1986 |
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License No. |
: |
04-06469 |
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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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Export Registration
certificate No |
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Ra-0086532 |
Date of Registration |
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N/A |
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Issuing
Authority |
: |
Chief Controller of Import
& Export (CCIE) |
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FINANCIALS- SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income |
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30th June’ 16 |
BDT
62 Million |
BDT
11.73 Million |
BDT 2.80 Million |
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30th June’ 17 |
BDT 76 Million |
BDT 12.25 Million |
BDT
3.10 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Amirul Haque Prodhan |
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Designation |
: |
Proprietor |
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Contract No |
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N/A |
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Locations Details |
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Operating Address |
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218, West Kafrul (4th Floor), Begum Rokeya Soronni, Dhaka-1207, Bangladesh. |
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Tel No |
: |
88-02-9115179,
01757500386 |
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Fax No |
: |
Nil |
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E-mail |
: |
brightfire@hotmail.com, brightfiber@qubeemail.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 |
1100 |
Sq. ft. |
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Type of
Office : |
: Commercial Office Bldg. |
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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. |
Ö |
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Warehouse: |
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Address |
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K.W.T. Premises, 72, Siraj-Ud-Dowula Road, Khanpur, Narayanganj,
Bangladesh |
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Tel No |
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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 |
10,000 |
Sq. ft. |
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Branch: |
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Address |
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Syedpur, 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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Employee: |
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No. of
Employees |
In Office |
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5 |
Warehouse |
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11 |
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In Branch: |
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2 |
Total |
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18 |
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Details: |
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PROPRIETOR
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Names of
Proprietor |
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Mr. Amirul Haque Prodhan |
MANAGEMENT
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Name |
: |
Mr. Amirul Haque Prodhan |
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Job Description |
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Proprietor |
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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. Shafiqul Islam |
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Job Description |
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Manager (Commercial) |
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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 |
BUSINESS
OPERATIONS
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Nature of
Activity : |
Manufacturer |
Trader |
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Supplier |
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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 |
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Raw Jute |
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Production
Capacity |
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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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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 |
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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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Trade Markets |
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Exports(Country) |
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India, China, Pakistan |
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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 |
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Active |
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CAPITAL
STRUCTURE
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Capital
Invested |
: |
BDT 8
Million |
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Assets |
: |
BDT 12.25
Million |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
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Nil |
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Subsidiary |
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Nil |
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Name of The Group |
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Nil |
BANKINg
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Bank Name |
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Pubali Bank Ltd. |
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Bank Address |
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Dhaka Stadium Branch Lal Bhaban, 8, D.I.T.
Extension Road, Dhaka-1000, Bangladesh
Tel: 88-02-9555565 |
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Bank Name |
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Janata Bank Ltd. |
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Bank Address |
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Local Office 35-44, Motijheel
C/A, Dhaka, Bangladesh Tel: 88-02-89553382, 9551482,
9568002 |
ADVERSE
DATA MONITORING
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Dishonored
Checks |
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No Record Found |
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Debt |
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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
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Our representative visited their Head office which is situated
at 218, West Kafrul (4th Floor), Begum Rokeya Soronni, Dhaka-1207,
Bangladesh. It is situated at residential area. |
GENERAL
COMMENTS
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Subject is mainly engaged in Exporter. It is well
reputed company in this line of business. We recommended that Credit should
proceed with monitor in Small amount-periodical review. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.98 |
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1 |
INR 88.13 |
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Euro |
1 |
INR 78.35 |
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BDT |
1 |
INR 0.77 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRA |
|
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Report Prepared
by : |
NIT |
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.