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MIRA INFORM REPORT
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Report No. : |
498158 |
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Report Date : |
19.03.2018 |
IDENTIFICATION DETAILS
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Name : |
MONDAL AND CO. |
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Registered Office : |
Khan-E-Sabur Road, Daulatpur, Khulna |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2017 (Summarized) |
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Date of Incorporation : |
1968 |
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Legal Form : |
Partnership |
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Line of Business : |
Exporter of Raw Jute |
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No. of Employees : |
30 |
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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 were on track to again surpass $25 billion in 2017. The sector continues to grow, despite the need for improvements in factory working conditions to avert further high-profile accidents that have killed more than 1,000 workers in recent years. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $13 billion and 6% of GDP in 2016 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.
The recent influx of hundreds of millions of 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 adverse weather.
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Source
: CIA |
EXECUTIVE
SUMMARY
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IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Mondal and
Co. |
|
Head Office |
: |
Khan-E-Sabur Road, Daulatpur, Khulna,
Bangladesh. |
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Tel No |
: |
88-041-774217,
774286, 760852 |
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Fax No |
: |
88-041-774286 |
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E-mail |
: |
uttarapatsangstha@yahoo.com |
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Website |
: |
Nil |
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Date/ Year of Incorporation |
: |
1968 |
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Trade
License No |
: |
2/13 |
|
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) ________________ |
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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) 000345 |
Date of Registration |
: |
N/A |
||||
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Issuing Authority |
: |
Cloth &
Jute Ministry |
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Export
Registration certificate No |
: |
B-001281 |
Date of Registration |
: |
N/A |
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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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30th June’2016 |
BDT 147 Million |
BDT 19.50 Million |
BDT 5.89 Million |
|
30th
June’2017 |
BDT 114 Million |
BDT 17.21 Million |
BDT 3.18 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
||
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Name |
: |
Mr. S. M.
Nazrul Islam |
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Designation |
: |
Manager |
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Contract No |
: |
88-01710887275 |
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Locations Details |
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Operating Address |
: |
Khan-E-Sabur Road, Daulatpur, Khulna, Bangladesh. |
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Tel No |
: |
88-041-774217,
774286, 760852 |
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Fax No |
: |
88-041-774286 |
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E-mail |
: |
uttarapatsangstha@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 |
3200 |
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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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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Warehouse: |
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Address |
: |
Khan-E-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 |
10,000 |
Sq. ft. |
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Branch: |
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Address |
: |
Nil |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No.
of Employees |
In Office |
: |
4 |
Warehouse |
: |
26 |
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In Branch: |
: |
- |
Total
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: |
30 |
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Details: |
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PARTNERS
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Names
of Partner |
: |
Mr. Tawhidul Islam Mr. Shahidul Islam Mr. Lutfar Rahman Mondol |
MANAGEMENT
|
Name |
: |
Mr. Shahidul
Islam |
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Job Description |
: |
Partner |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01711310049 |
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Name |
: |
Mr. S. M.
Nazrul Islam |
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Job Description |
: |
Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01710887275 |
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Name |
: |
Mr. Himangshu
Shaha |
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Job Description |
: |
Officer |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS
OPERATIONS
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Nature
of Activity : |
Manufacturer |
Trader |
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Dealer |
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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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Range
of Products: |
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Products |
: |
Raw Jute. |
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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 |
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 |
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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 |
: |
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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Pakistan, India |
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Imports(Country) |
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N/A |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Name of Auditors |
: |
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
17.21 Million |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Uttara Pat Sangstha Jute Textiles Mills Ltd. |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
Nil |
BANKING
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Bank Name |
: |
Rupali Bank
Ltd. |
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Bank Address |
: |
Daulatpur Branch Daulatpur,
Khulna, Bangladesh. |
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 the subject
company Head office which is situated at Khan-E-Sabur Road, Daulatpur, Khulna,
Bangladesh. It is situated at Semi-Commercial Area. |
GENERAL
COMMENTS
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SC is considered medium-sized in its line
with fairly stable financial conditions. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
INR 64.87 |
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|
1 |
INR 90.49 |
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Euro |
1 |
INR 79.91 |
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BDT |
1 |
INR 0.79 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
TRU |
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.