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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

488129

Report Date :

27.01.2018

 

IDENTIFICATION DETAILS

 

Name :

GARDEN TRADING

 

 

Registered Office :

20, Ahsan Ullah Road, Nawab Bari, Islampur, Dhaka-1100

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

2010

 

 

Legal Form :

Partnership

 

 

Line of Business :

Distributor and Importer of Chemical

 

 

No. of Employees :

5

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

 

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Maximum Credit Limit :

USD  24,000

 

 

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.

 

 

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

:

GARDEN TRADING

Head Office

:

20, Ahsan Ullah Road, Nawab Bari, Islampur, Dhaka-1100 Bangladesh.

Tel No

:

88-02-57391880

Fax No

:

Nil

E-mail

:

gardentrading@yahoo.com

Website

:

Nil

Date/ Year of Establishment

:

2010

Trade License No

:

0421371

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

 

 

Other Registry & Certification Details

 

Import Registration Certificate  No

:

BA-0206439

Date of Registration

:

N/A

Issuing Authority

:

Chief Controller of  Import & Export (CCIE)

 

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

     Income

30th June’2016

BDT 51 Million

BDT 8.38 Million

BDT 1.53 Million

30th June’2017

BDT 42 Million

BDT 7.69 Million

BDT 0.85 Million

 

 

 

 

 

 

 

 

INQUIRER SPECIFIED CREDIT –TRADE FINANCE

 

Recommended Cred

:

USD  24,000 based on 90 days             

 

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Mohammad Bin Rukun

Designation

:

Partner

Contract No

:

N/A

 

 

Locations Details

Business Address

:

20, Ahsan Ullah Road, Nawab Bari, Islampur, Dhaka-1100 Bangladesh.

Tel No

:

88-02-57391880

Fax No

:

Nil

E-mail

:

gardentrading@yahoo.com

Website

:

Nil

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

750

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office area

Ö

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

Warehouse:

 

Address

:

20, Ahsan Ullah Road, Nawab Bari, Islampur, Dhaka-1100 Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

 

 

Rented

Ö

 

Leased

 

Area

1200

Sq. ft.

 

Branch:

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

4

Warehouse

:

1

In Branch:

:

Nil

Total

:

5

Details:

 

                    

 

 

 

PARTNERSHIP

Names of Partners 

               

:

 

Mr. Rukunuddin Ahmed

Mr. Moklesur Rahman

Mr. Mohammad Bin Rukun

 

 

MANAGEMENT

 

Name

:

Mr. Rukunuddin Ahmed

Job Description

:

Partner

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Aftab Uddin

Job Description

:

Officer (Import)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity    :

Manufacturer

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

 

Importer

Ö

Services

 

Others

 

 

Item Dealings In:

 

Products

:

Chemical

Production Capacity

:

N/A

Last Year Production

:

N/A

 

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

:

N/A

 

Imports

:

India, China

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

N/A

 

CAPITAL STRUCTURE

 

Capital Invested

:

BDT 7 Million

 Assets

:

BDT 7.69 Million

 

 

 

 

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

N/A

Subsidiary

:

N/A

Name of  The Group

:

N/A

 

 

BANKING

 

 

Bank Name  

:

National Credit & Commerce Bank Ltd

Bank Address

:

Gulshan Branch

51, Gulshan Avenue, Gulshan, Dhaka-1212, Bangladesh.

Tel: 88-02-8827743, 9880221, 8818093, 9899773, 8831346           

 

 

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 20, Ahsan Ullah Road, Nawab Bari, Islampur, Dhaka-1100 Bangladesh. It is situated at a Semi-Commercial Area.

 

GENERAL COMMENTS

Subject is mainly engaged in Importer & Distributor. Their products are popular to the local customers & their goodwill grows up day by day.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.50

UK Pound

1

INR 90.92

Euro

1

INR 79.07

BDT

1

INR 0.76

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

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.