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MIRA INFORM REPORT
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Report No. : |
487114 |
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Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
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Name : |
JEANS & POLO LIMITED |
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Registered Office : |
Novo Tower, House# 50, Road# 11, Block# F, Banani, Dhaka-1213 |
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Country : |
Bangladesh |
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Date of Incorporation : |
13.02.2008 |
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Com. Reg. No.: |
C- 69905 |
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Legal Form : |
Private Co
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Line of Business : |
Subject is engaged in Manufacturer, Exporter and Importer of Jackets, Jeans, Pants, Denim |
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No. of Employees : |
800 |
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
|
Correct company Name |
: |
Jeans & Polo
Limited |
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Head Office |
: |
Novo Tower, House# 50, Road# 11, Block# F, Banani, Dhaka-1213, Bangladesh |
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Tel No |
: |
88-02-9853748, 55042036,
9890177, 55042027, 9889150 |
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Fax No |
: |
88-02-55042028 |
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E-mail |
: |
info@tusuka.com,
hr@tusuka.com |
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Website |
: |
www.tusuka.com |
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Date/ Year of
Incorporation |
: |
13.02.2008 |
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Incorporation No. |
: |
C- 69905 |
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Bin No |
: |
18031003687 |
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Legal Form (General) |
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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) |
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LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
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Registrar
of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export |
FINANCIALS- SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income |
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30th
June’ 2016 |
BDT 481 Million |
BDT 205.80 Million |
BDT 29.63 Million |
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30th
June’ 2017 |
BDT 597 Million |
BDT 218.63 Million |
BDT 33.85 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr.
Fazul Karim |
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Designation |
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General
Manager (Commercial) |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
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Novo Tower, House# 50, Road# 11, Block# F, Banani, Dhaka-1213, Bangladesh |
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Tel No |
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88-02-9853748, 55042036,
9890177, 55042027, 9889150 |
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Fax No |
: |
88-02-5042028 |
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E-mail |
: |
info@tusuka.com,
hr@tusuka.com |
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Website |
: |
www.tusuka.com |
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Location : |
:
Owned |
Ö |
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Rented |
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Leased |
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Area |
1400 |
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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Factory: |
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Address |
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Plot# B-91, Bscic I/A,
Tongi, Gazipur, 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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Branch: |
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Address |
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Nil |
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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
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In Office |
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20 |
In
Factory |
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780 |
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In Branch: |
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N/A |
Total |
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800 |
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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. Feroz Alam |
10,000 |
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Mrs. Hosna Ara Alam |
10,000 |
DIRECTORS
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Name |
Designation |
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Mrs. Hosna Ara Alam |
Chairmen |
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Mr. Md. Feroz Alam |
Managing Director |
MANAGEMENT
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Name |
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Mr.
Md. Feroz Alam |
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Job Description |
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Managing
Director |
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Nationality |
: |
Bangladeshi |
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Email address |
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N/A |
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Other details |
: |
N/A |
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Name |
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Mr. Sajjad Hossain |
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Job Description |
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Executive Director
(Merchandising) |
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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 |
: |
88-01713093612 |
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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Jackets, Jeans,
Pants, Denim, etc. |
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Production Capacity |
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104167 Doz. per Year |
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Last Year Production |
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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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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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Europe |
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Imports(Country) |
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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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Name of 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 Garments Manufacturer &
Exporters Association |
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CAPITAL
STRUCTURE
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Authorized Capital |
: |
BDT 30 Million |
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Paid-up Capital |
: |
BDT 20,00,000 |
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No. of
Shares |
: |
20,000 |
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Share
Value |
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BDT 100.00 Each |
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Main Assets |
: |
BDT 218.63 Million |
FINANCIAL
STATEMENT- DETAILED
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Financial summary information
has been given. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Name of The Group |
: |
Tusuka Group |
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Name of Mother Company |
: |
Nil |
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Subsidiary |
: |
Nil |
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Sister Concerns |
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Tusuka. NOVO Com. Novo Air Ltd Tusuka Jeans Ltd. NOVO Holy Tese. Tusuka apparels Ltd Tusuka Fashions Ltd Parkview Dresses Ltd, Tusuka Packaging Ltd. Tusuka Teetjel Limited Tusuka Denim Limited Univers Textile Alliance Tusuka Trousers Limited Tusuka Washing Limited Tusuka Processing Limited Tusuka Technotrade
Limited Needle Art Embroidery Unil Ltd |
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BANKING
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Bank Name |
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Standard
Bank Ltd |
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Bank Address |
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Banani Branch Plot# 106, Road-11,
Bloc-C, Banani, Dhaka-1229, Bangladesh Tel: 88-02-9889545,
8829022 Fax: 88-02-9889545 |
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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
|
Our representative visited the subject company Head
Office which is situated at Novo Tower, House# 50, Road# 11, Block# F, Banani,
Dhaka-1213, Bangladesh. It is Situated at a Residential Area. |
GENERAL
COMMENTS
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The subject company is a well-known reputed company in
Bangladesh. Their products popular to the
local customers and day by day the subject company is increasing their
goodwill as well as its financial condition. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.50 |
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1 |
INR 90.92 |
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Euro |
1 |
INR 79.07 |
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BDT |
1 |
INR 0.76 |
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 : |
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.