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MIRA
INFORM REPORT
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Report No. : |
515891 |
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Report Date : |
25.06.2018 |
IDENTIFICATION DETAILS
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Name : |
S.A. SPINNING MILLS LTD. |
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Registered Office : |
Alamin Center (13th ~16th Floor), 25/A, Dilkusha C/A, Dhaka-1000 |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2017 [Summarized] |
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Date of Incorporation : |
15.01.2001 |
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Com. Reg. No.: |
C-42277 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Distributor, Exporter and Importer of Yarns |
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No. of Employees : |
380 |
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 (31.12.2017) |
Current Rating (01.04.2018) |
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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 2005 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 $28 billion in FY 2016-17. The sector continues to grow despite the need for improvements in factory safety conditions and workers’ rights to avert further high-profile accidents that killed more than 1,000 workers in 2012 and 2013. In FY 2016-17, steady export growth in the garment sector, combined with $13 billion in remittances from overseas Bangladeshis, contributed to Bangladesh's rising foreign exchange reserves.
The recent influx of over 700,000 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 record flooding. Recent improvements to energy infrastructure, including the start of liquefied natural gas imports in 2018, represent a major step forward in resolving a key growth bottleneck.
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Source : CIA |
Company name
S.A. SPINNING MILLS LTD.
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
||
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Correct company Name |
: |
S.A. Spinning Mills
Ltd. |
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Head Office |
: |
Alamin Center (13th ~16th Floor), 25/A, Dilkusha C/A, Dhaka-1000, Bangladesh |
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Tel No |
: |
88-02-9564507-09,
967839-40 |
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Fax No |
: |
88-02-9564512 |
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E-mail |
: |
sag@bdmail.com,
comm@sagbd.com |
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Website |
: |
www.sarebd.com |
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Date/ Year of Incorporation |
: |
15/01/2001 |
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Incorporation No. |
: |
C-42277 |
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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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Organization
Name |
: |
Dhaka Chamber of Commerce
& Industry |
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Membership
No |
: |
N/A |
FINANCIALS- SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income/
(Loss) |
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30th June’2016 |
BDT 456 Million |
BDT 219.30 Million |
BDT 25.15 Million |
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30th June’2017 |
BDT 523 Million |
BDT 259.81 Million |
BDT 29.73 Million |
FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Dev Kumar Kar |
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Designation |
: |
Deputy Manager Commercial |
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Contract No |
: |
88-01713372195 |
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Locations Details |
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Operating Address |
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Alamin Center (13th ~16th Floor), 25/A, Dilkusha C/A, Dhaka-1000, Bangladesh |
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Tel No |
: |
88-02-9564507-09,
967839-40 |
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Fax No |
: |
88-02-9564512 |
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E-mail |
: |
sag@bdmail.com,
comm@sagbd.com |
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Website |
: |
www.sarebd.com |
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Location : |
:
Owned |
Ö |
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Rented |
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Leased |
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Area |
4800 |
Sq. ft. |
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Type of
Office : |
: Commercial Office Bldg. |
Ö |
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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. |
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Factory Address: |
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Address |
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Uttar Baktarpur ,
Kaliakoir, Gazipur, Bangladesh |
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Tel No |
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88-02-9289295 |
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Fax No |
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N/A |
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Branch Address: |
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Address |
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House# 10, Road# 22,
Block# K, Banani, Dhaka-1213, Bangladesh
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Tel No |
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88-02-9567839-40 |
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Fax No |
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880-2-9564512 |
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Employee: |
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No. of
Employees |
In Office |
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28 |
In Factory |
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348 |
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In Branch: |
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4 |
Total |
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380 |
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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. Jahangir Alamin |
1125 |
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Mr. Alamgir Shamsul Alamin |
1392 |
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Mr. Jahangir Alamin |
1392 |
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Mr. Arafin Shamsul Alamin |
1391 |
DIRECTORS
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Name |
Designation |
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Mr. Md. Jahangir Alamin |
Managing Director |
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Mr. Alamgir Shamsul Alamin |
Director |
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Mr. Jahangir Alamin |
Director |
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Mr. Arafin Shamsul Alamin |
Director |
MANAGEMENT
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Name |
: |
Mr. Md. Jahangir Alamin |
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Job Description |
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Managing Director |
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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 |
: |
Mr. Shontosh Kumar Gosh |
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Job Description |
: |
General Manager
(Commercial) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Dev Kumar Kar |
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Job Description |
: |
Deputy Manager Commercial |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01713372195 |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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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 |
: |
Yarns |
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Spindles |
: |
14112 |
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Production
Capacity |
: |
2190000 Kg. per year |
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Last Year
Production |
: |
1847000 Kg. |
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Raw
Material Requirement |
: |
8500 Bales per year |
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Raw Material
Consumption |
: |
Raw Cotton: 3800 Kg. Manmade Fibre: Poly-7, 98, 00 Kg. |
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 |
: |
N/A |
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Local Clients |
: |
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) |
: |
N/A |
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Imports(Country) |
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India, China |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Name of Auditors |
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N/A |
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Operation Status |
: |
Active |
CAPITAL STRUCTURE
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Authorized
Capital |
: |
BDT 30Million |
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Paid-up
Capital |
: |
BDT 530000 |
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No. of
Shares |
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5300 |
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Share
Value |
: |
BDT100.00Each |
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Main
Assets |
: |
BDT 259.81 Million |
FINANCIAL STATEMENT- DETAILED
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Summary Information Given. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Sister Concerns |
: |
Seasons Ltd Electro World Alamgir Trading Samco Retail Ltd. E- Securities Ltd. Shoppers World Ltd. PLFS Investment Ltd Thai BD Hatchery Ltd Paramint Properties Ltd 3G Communications Ltd Fuad Spinning Mills Ltd Pioneer Insurance Limited Marker Pharmaceuticals Ltd Shamsul Alamin Real Estate Ltd Global Source & Consulting Ltd Shamsul Alamin
Cotton Mills Ltd Jahanara Alamin Spinning Mills Ltd Sonar Bagla Insurance Company Ltd Shamsul Alamin Pharmaceuticals Ltd Sunny Specialized Spinning Mills Ltd Peoples Leasing and Financial Services Ltd |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
Shamsul Alamin Group
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BANKING
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Bank Name |
: |
Dhaka Bank Ltd. |
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Bank Address |
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Local Office Branch Adamjee Court (GF),
115-120 Motijheel C/A, Dhaka-1000,
Bangladesh Tel: 8802 9556587,
9556592-3 Fax: 8802 9556583 |
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Bank Name |
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Islami Bank Ltd. |
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Bank Address |
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Head Office Complex Islami Bank Tower, 40
Dilkusha C/A, Dhaka-1000, Bangladesh Tel: 88-02-9563182,
9563040 Fax: 88-02-9564532 |
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 |
: |
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 representative visited their Head office which is
situated at Alamin Center (13th ~16th Floor), 25/A, Dilkusha C/A, Dhaka-1000,
Bangladesh. It is situated at Commercial Area |
GENERAL COMMENTS
SC
is considered medium-sized in its line with financial performance appears to be
average.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.77 |
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|
1 |
INR 89.96 |
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Euro |
1 |
INR 78.86 |
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BDT |
1 |
INR 0.81 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
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|
|
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Report Prepared
by : |
SYL |
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.