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MIRA INFORM REPORT
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Report No. : |
506539 |
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Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
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Name : |
FAY MAX TRADE CORPORATION |
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Registered Office : |
Gawsia Kashem Centre (7th Floor), 10/2, Arambag, Motijheel,
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 : |
June 2013 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Indenter, Distributor and Importer of Raw Cotton. |
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No. of Employees : |
10 |
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 : |
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 (30.09.2017) |
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 |
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Comment |
: |
SC’s company changed their address of “Baitul Khair Building (8th
Floor), Suite No. 805, 48/A-B Purana Paltan Dhaka 1000 Bangladesh” |
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IDENTIFICATION DETAILS
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|||
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Correct company Name |
: |
FAY MAX TRADE CORPORATION |
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Head Office |
: |
Gawsia Kashem Centre (7th Floor), 10/2, Arambag, Motijheel,
Dhaka- 1000, Bangladesh |
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Tel No |
: |
88-02-7195441-7, 09613220223-4 |
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Fax No |
: |
88-02-7195439 |
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E-mail |
: |
ed@jajbhuiyan.com,
agm.accounts@jajbhuiyan.com |
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Website |
: |
www.jajbhuiyan.com |
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Date/ Year of Incorporation |
: |
June’2013 |
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Incorporation No. |
: |
N/A |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorship 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) |
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FINANCIALS- SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income |
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30th June’2016 |
BDT 51 Million |
BDT 11.15 Million |
BDT 1.46 Million |
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30th June’2017 |
BDT 72 Million |
BDT 11.80 Million |
BDT 2.39 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Asadul Hoque Mukul |
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Designation |
: |
Senior Deputy General Manager |
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Contract No |
: |
88-01833324007 |
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Locations Details |
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Operating Address |
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Gawsia Kashem Centre (7th Floor), 10/2, Arambag, Motijheel,
Dhaka- 1000, Bangladesh |
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Tel No |
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88-02-7195441-7, 09613220223-4 |
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Fax No |
: |
88-02-7195439 |
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E-mail |
: |
ed@jajbhuiyan.com,
agm.accounts@jajbhuiyan.com |
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Website |
: |
www.jajbhuiyan.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
800 |
Sq. ft. |
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Type of Office :
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: Commercial Office Bldg. |
Ö |
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Semi-commercial office area. |
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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 |
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Noapara, Post Code: 1604, Madhabdi,
Narshingdi, 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 |
3000 |
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 |
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Nil |
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Employee: |
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No. of
Employees |
In Office |
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2 |
Warehouse : 1 |
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Sales |
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8 |
Total |
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10 |
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PROPRIETOR
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Names of
Proprietor |
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Mr. Md. Fayazur Rahman Bhuiyan |
MANAGEMENT
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Name |
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Mr. Md. Fayazur Rahman Bhuiyan |
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Job Description |
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Proprietor |
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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. Asadul Hoque Mukul |
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Job Description |
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Senior Deputy General Manager |
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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 |
: |
88-01833324007 |
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Name |
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Mr. Ebrahim Faisal |
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Job Description |
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Manager (Marketing) |
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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 |
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Mr. Anisur Rahman |
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Job Description |
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Officer (Commercial) |
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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 |
: |
88-01718403484 |
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Name |
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Mr. Mohammad Noushad (Masum) |
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Job Description |
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Officer (HR & Admin) |
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Nationality |
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Bangladeshi |
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Email address |
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noushadjbl@gmail.com |
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Other details |
: |
88-01720010129, 01833324012 |
BUSINESS
OPERATIONS
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Nature of
Activity : |
Indenter |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
Ö |
Services |
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Others |
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Item Dealings
In: |
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Products |
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Raw Cotton. |
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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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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 |
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Cash |
Ö |
Others |
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Credit : |
Ö |
30 days |
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60 days |
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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 |
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N/A |
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Imports |
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India, Nepal, Sri Lanka, China, Pakistan, USA and Brazil |
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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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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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N/A |
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CAPITAL
STRUCTURE
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Capital
Invested |
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BDT 10 Million |
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Assets |
: |
BDT 11.80
Million |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
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JB Tower JB Steel JB Traders JM Fashion Mahid Shoes Jewel Tower Zakia Complex Mahid Fisheries J.B. Yarn Dying JB Ceramics Ltd. J.B. Telecom Ltd. Jb Auto Bricks Ltd. Z.N Composite Ltd Zakia Cottontex Ltd Mahid Apparels Ltd. Jonayid Builders Ltd. Jonayid Sweater Link JAJ Bhuiyan Complex JAJ Spinning Mills Ltd. JM Classic Fashion Ltd Air Touch Complex Ltd. JB Feed Processing Ltd JB Poly Tech Industries JAJ Bhuiyan Textile Mills Mahid Expo. Int. Tex. Ltd J.B. Present Paper Mills Ltd Mutual Concern Corporation FM Textile & Yarn Trading Ltd Fay-Max Sweater Composite Ltd M.M. Knitting &Embroidery Ltd J.B. Feed Processing Complex Ltd. Mutual Concern Corporation Limited F. M. Textile And Yarn Trading Limited |
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Subsidiary |
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Nil |
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Name of The Group |
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JAJ Bhuiyan Group |
BANKING
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Bank Name |
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Southeast Bank Ltd. |
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Bank Address |
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Principal Branch. 1, Dilkusha C/A, Dhaka-1000, Bangladesh Tel: 88-02-9550081, 9567271 - 2, 9563101 Fax: 88-02-9551575 |
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Bank Name |
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Uttara Bank Ltd. |
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Bank Address |
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Corporate Branch. Uttara Bank Bhaban, 90,Motijheel C/A, Dhaka-1000,
Bangladesh Tel: 88-02-9568186 |
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 |
: |
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
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Our Representative Visited the subject company address at Gawsia Kashem
Centre (7th Floor), 10/2, Arambag, Motijheel, Dhaka- 1000, Bangladesh. It is
Situated at Commercial Area. |
GENERAL
COMMENTS
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Based on the financial statements, SC’s financial performance appears to
be Below Average. SC has been in its line of business for about 5 years. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.66 |
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|
1 |
INR 90.66 |
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Euro |
1 |
INR 80.00 |
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BDT |
1 |
INR 0.78 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRA |
|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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.