MIRA INFORM REPORT

Report No. :	507541
Report Date :	09.05.2018

IDENTIFICATION DETAILS

Name :	INTERNATIONAL JUTE TRADERS
Registered Office :	Ibrahim Chamber (2^nd Floor), 95, Motijheel C/A, Dhaka-1000
Country :	Bangladesh
Financials (as on) :	30.06.2017
Date of Incorporation :	2002
Legal Form :	Partnership
Line of Business :	Exporter of Raw Jute.
No. of Employees :	36

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Slow
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

EXECUTIVE SUMMARY

IDENTIFICATION DETAILS

Correct company Name

:

International Jute Traders

Head Office

:

Ibrahim Chamber (2^nd Floor), 95, Motijheel C/A, Dhaka-1000, Bangladesh.

Tel No

:

88-01715932516, 01787662630

Fax No

:

Nil

E-mail

:

ijtgbsh@gmail.com

Website

:

Nil

Date/ Year of Incorporation

:

2002

Trade License No.

:

11119

Legal Form (General)

:

Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorship 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 Cantonment Board Chief Controller of Import & Export (CCIE)

Other Registry & Certification Details

Value Added Tax(VAT) No

:

9211015132

Date of Registration

:

N/A

Issuing Authority

:

National Board of Revenue

Export Registration certificate No

:

Ra-60541

Date of Registration

:

N/A

Issuing Authority

:

Chief Controller of Import & Export (CCIE)

Organization Name	:	Bangladesh Jute Exporter Association
Membership No	:	N/A

FINANCIALS- SUMMARY

Year	Turnover/ Sales	Assets	Income
30^th June’2016	BDT 105 Million	BDT 22.80 Million	BDT 4.83 Million
30^th June’2017	BDT 81 Million	BDT 21.43 Million	BDT 2.75 Million

FULLCHECK REPORT DETAILS

Information Parted By
Name	:	Mr. Amal Banerji
Designation	:	Manager
Contract No	:	88-01715932516

Locations Details
Operating Address	:	Ibrahim Chamber (2^nd Floor), 95, Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	88-01715932516, 01787662630
Fax No	:	Nil
E-mail	:	ijtgbsh@gmail.com
Website	:	Nil

Location :

: Owned

Rented

Ö

Leased

Area

250

Sq. ft.

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

Warehouse:
Address	:	Ibrahim Chamber (2^nd Floor), 95, Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Ö

Leased

Area

30,00

Sq. ft.

Branch:
Address	:	Co-Operative premises, Godnaile, Narayangonj, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	4	Warehouse : 32
	In Branch:	:	-	Total	:	36
Details:

PARTNERS
Names of Partner	:	Mr. Basudev Saha. Ms. Joyenti Saha. Ms. Jharna Saha. Mr. Ganesh Chandra Saha.

MANAGEMENT

Name	:	Mr. Ganesh Chandra Saha
Job Description	:	Partner.
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01787662630

Name	:	Mr. Amal Banerji
Job Description	:	Manager
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01715932516

BUSINESS OPERATIONS

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

Item Dealings In:
Products	:	Raw Jute.
Production Capacity	:	N/A
Last Year Production	:	N/A

Trading Terms:

Purchasing Terms:	L/C	Cash	Ö	Others
	Credit :	30 days		60 days	90 days	Ö	0	days

Selling Terms :	L/C	Ö	Cash	Others
	Credit :		30 days	60 days	Ö	90 days	days

DETAILED DATA
Trade Reference & Related Parties	:	Overseas Clients			:	Germany, UK, Pakistan, China.
		Local Clients			:	N/A
		Overseas Suppliers			:	N/A
		Local Suppliers			:	N/A
Trade Markets	:	Exports(Country)			:	India, Pakistan
		Imports(Country)			:	N/A
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	N/A
Operation Status			:	Active

CAPITAL STRUCTURE

Capital Invested	:	BDT 8 Million
Assets	:	BDT 21.43 Million

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns	:	N/A
Subsidiary	:	N/A
Name of The Group	:	N/A
Member	:	Bangladesh Jute Exporter Association.

BANKING

Bank Name	:	Agrani Bank Ltd.
Bank Address	:	Kalir Bazar 47, Sirajudullah Road, Narayanganj-1400, Bangladesh. Tel : 88-02-7630792

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 Ibrahim Chamber

(2^nd Floor), 95, Motijheel C/A, Dhaka-1000, Bangladesh. It is situated at Commercial area.

GENERAL COMMENTS

SC is considered medium-sized in its line with fairly stable financial conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.08
UK Pound	1	INR 91.14
Euro	1	INR 80.01
BDT	1	INR 0.80

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

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	KET

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.