MIRA INFORM REPORT

Report No. :	499347
Report Date :	22.03.2018

IDENTIFICATION DETAILS

Name :	IDEAL ELECTRICAL ENTERPRISE LIMITED
Registered Office :	Zirat Chamber (2^nd Floor), 31, Bangabandhu Avenue, Dhaka-1000
Country :	Bangladesh
Financials (as on) :	30.06.2017 [Summarized]
Date of Incorporation :	27.10.2014
Com. Reg. No.:	C-118903
Legal Form :	Private Co
Line of Business :	Manufacturer and Distributor of Electronic Equipment
No. of Employees :	100

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
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.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Bangladesh	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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.

Source : CIA

IDENTIFICATION DETAILS
Correct company Name	:	IDEAL ELECTRICAL ENTERPRISE LIMITED
Head Office	:	Zirat Chamber (2^nd Floor), 31, Bangabandhu Avenue, Dhaka-1000, Bangladesh
Tel No	:	88-02-9569467, 9551938, 01711-863448
Fax No	:	88-02-9561866, 8617420
E-mail	:	sarkerak@gmail.com
Website	:	www.idealentbd.com
Date/ Year of Incorporation	:	27.10.2014
Incorporation No.	:	C-118903
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

FINANCIALS- SUMMARY
Year	Turnover/ Sales	Assets	Income/ (Loss)
30^th June’2017	BDT 256 Million	BDT 21.30 Million	BDT 11.97 Million

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mrs. Kaberi Sannal
Designation	:	Assistant General Manager (Logistics)
Contract No	:	N/A

Locations Details
Operating Address	:	Zirat Chamber (2^nd Floor), 31, Bangabandhu Avenue, Dhaka-1000, Bangladesh
Tel No	:	88-02-9569467, 9551938, 01711-863448
Fax No	:	88-02-9561866, 8617420
E-mail	:	sarkerak@gmail.com
Website	:	www.idealentbd.com

Location :

: Owned

Rented

Ö

Leased

Area

1200

Sq. ft.

Type of Office :	: Commercial Office Bldg.		Semi-commercial office Bldg.
Retail shop		Industrial Park
Business Center		Home Office
Residential Area.	Ö

Factory :
Address	:	Dapa Idrakpur, Post Office Road, Fatullah, Narayangonj, Bangladesh
Tel No	:	Nil
Fax No	:	Nil

Employee :
No. of Employees	In Office	:	20	In Factory	:	80
	In Branch	:	N/A	Total	:	100
Details:

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share	County
Mr. Ajoy Kumar Sarkar	850	Bangladesh.
Mrs. Sandhya Rani Das Sarkar	500	Bangladesh.
Ms. Sudipa Sarker	500	Bangladesh.
Sutopa sarker	50
Neelima sarker	50
Mahbub hossain	50

DIRECTORS
Name	:	Mrs. Sandhya Rani Das Sarkar
Designation	:	Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Ajoy Kumar Sarkar
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Ms. Sudipa Sarker
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT
Name	:	Mr. Ajoy Kumar Sarkar
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mrs. Kaberi Sannal
Job Description	:	Assistant General Manager (Logistics)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Saiful Islam
Job Description	:	Deputy General Manager (Finance & Accounts)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Joynul Abedin
Job Description	:	Officer
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Jamal Ahmed
Job Description	:	Project Engineer
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS
Nature of Activity :	Manufacturer	Ö	Trader		Dealer	Distributor	Ö
	Exporter		Importer	Ö	Services	Others

Range of Products:
Products	:	Electronic Equipment
Production Capacity	:	N/A
Last Year Production	:	N/A
Import Products	:	N/A
Export Products	:	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(Country)

:

N/A

Imports(Country)

:

India, China

Brand Name

:

N/A

Certified

:

N/A

Name of Auditors

:

N/A

Operation Status

:

Active

CAPITAL STRUCTURE
Authorized Capital	:	BDT 10 Million
Paid-up Capital	:	BDT 2000000
No. of Shares	:	2000
Share Value	:	BDT 1000.00 Each
Main Assets	:	BDT 21.30 Million

FINANCIAL STATEMENT- DETAILED

Summary information has been given.

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Name of The Group			:	Nil
Name of Mother Company			:	Nil
Subsidiary			:	Nil
Sister Concerns			:	Nil
BANKING
Bank Name	:	United Commercial Bank Limited
Bank Address	:	Elephant Road Branch 25, Elephant Road, Dhaka-1207, Bangladesh Tel: 88-02-9667370, 8621283, 9664622, 8615947, 8615947, 8621283 Fax : 88-02-9664622

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 “Zirat Chamber (2^nd Floor) 31, Bangabandhu Avenue, Dhaka-1000, Bangladesh”. It’s situated at a Residential Area.

GENERAL COMMENTS

The subject company is engaged in Manufacturer, Importer & Distributor. The subject company maintains acceptable business volume. Based on the financial statements, SC’s financial performance appears to be Fair.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.22
UK Pound	1	INR 91.33
Euro	1	INR 79.96
BDT	1	INR 0.79

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

INFORMATION DETAILS

Analysis Done by :	NIS
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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.