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MIRA INFORM REPORT
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Report No. : |
509319 |
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Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
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Name : |
ABUL KHAIR LIMITED |
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Registered Office : |
232/2612, D.T. Road, Pahartali, Chittagong |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2017 (Summarized) |
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Date of Incorporation : |
28.12.1998 |
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Com. Reg. No.: |
C-37032 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer and
Distributor of Corrugated Iron Sheet, Galvanized Plain (GP)
Sheet |
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No. of Employees : |
1450 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 |
COMPANY
NAME
ABUL KHAIR LIMITED
EXECUTIVE
SUMMARY
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IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Abul Khair Limited |
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Head Office |
: |
232/2612, D.T. Road,
Pahartali, Chittagong, Bangladesh. |
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Tel No |
: |
88-031-714541-4,
752233, 720284 |
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Fax No |
: |
88-031-710051, 720239, 626711 |
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E-mail |
: |
info@abulkhairgroup.com |
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Website |
: |
www.abulkhairgroup.com |
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Date/ Year of Incorporation |
: |
28.12.1998 |
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Incorporation No. |
: |
C-37032 |
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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) |
FINANCIALS-
SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
|
30th
June’2016 |
BDT 17080.51 Million |
BDT 42810.70 Million |
BDT 605.46 Million |
|
30th
June’2017 |
BDT 5550.49 Million |
BDT 10037.33 Million |
BDT 70.96 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Abul Hashem |
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Designation |
: |
Managing Director |
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E-mail |
: |
N/A |
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Locations Details |
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Operating Address |
: |
232/2612, D.T. Road,
Pahartali, Chittagong, Bangladesh. |
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Tel No |
: |
88-031-714541-4,
752233, 720284 |
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Fax No |
: |
88-031-710051, 720239, 626711 |
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E-mail |
: |
info@abulkhairgroup.com |
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Website |
: |
www.abulkhairgroup.com |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
2500 |
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: |
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Address |
: |
Khadimpara, Bhatiary, Sitakundu,
Chittagong, Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
30 |
Acores |
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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 |
: |
150 |
In Factory |
: |
1300 |
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In Branch: |
: |
N/A |
Total |
: |
1450 |
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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. Abul Kashem |
97409 |
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Mr. Abul Hashem |
99873 |
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Mr. Md. Abu Syed Chowdhury |
99873 |
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Mr. Shah Shafiqul Islam |
99873 |
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Mrs. Hosneara Begum |
1724 |
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Mrs. Noorjahan Begum |
1724 |
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Mrs. Majeda Begum |
1724 |
DIRECTORS
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Name |
Designation |
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Mr. Abul Kashem |
Chairman |
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Mr. Abul Hashem |
Managing Director |
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Mr. Md. Abu Syed Chowdhury |
Director |
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Mr. Shah Shafiqul Islam |
Director |
MANAGEMENT
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Name |
: |
Mr. Abul Hashem |
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Job Description |
: |
Managing Director |
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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. Iqbal Anwar |
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Job Description |
: |
General Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
iqbal@abulkhairgroup.com |
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Other details |
: |
N/A |
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Name |
: |
Mr. Sarajit Kumar |
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Job Description |
: |
Officer (Accounts) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
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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 |
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Importer |
Ö |
Services |
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Others |
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Range of
Products: |
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Products |
: |
Corrugated Iron Sheet, Galvanized Plain (GP)
Sheet |
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Production Capacity |
: |
(Cold Rolling Mills): 60, 000 Mt per year |
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Last Year
Production |
: |
(Continuous Galvanized Line): 120000mt per
year |
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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|||
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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 |
: |
N/A |
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Local Suppliers |
: |
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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China, India |
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Brand Name |
: |
Goru Marka Dhew Tin (Cow Brand) |
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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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Authorized Capital |
: |
BDT 50 Million |
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Paid-up Capital |
: |
BDT 40220000 |
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No. of Shares |
: |
402200 |
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Share Value |
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BDT 100.00 Each |
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Main Assets |
: |
BDT 10037.33 Million |
FINANCIAL
STATEMENT- DETAILED
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Summary information is given |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Name of
The Group |
: |
Abul Khair Group |
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Mother Company |
: |
Shah Dairy Products Limited |
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Sister Concerns |
: |
A.K Properties Limited Abul Khair Tea Limited Abul Khair Steel Limited A.K Corporation Limited Abul Khair Steel Limited Fahim Sanitary Wares Ltd Shah Dairy Foods Limited Shah Cement Industries Ltd. Beverage Industries Limited. Abul Khair Match Factory Ltd. Abul Khair Steel Industries Ltd Abul Khair Steel Mills Limited Abul Khair Steel Melting Limited
Abul Khair Consumer Product Ltd Abul Khair Steel Products Limited Abul Khair Milk Products Limited
Abul Khair Power Ishwardi Limited
Abul Khair Group Of Industries Ltd Abul Khair Strip Processing Limited Smark Coconut Oil Products Limited Abul Khair Tobacco Company Limited Abul Khair Ceramic Industries Limited Abul Khair Consumer Products Limited Abul Khair Vegetables Oil Industries Ltd Abul Khair Condensed Milk Industries Ltd Abul Khair Condensed Milk & Beverage Industries Limited |
BANKING
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Bank Name
|
: |
Islami Bank
Bangladesh Ltd. |
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Bank Address |
: |
Khatunganj Branch 82, Azim Market, Khatunganj, Chittagong,
Bangladesh. Tel: 88-031-620744, 634323 Fax: 88-031-622748 |
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Bank Name
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: |
Sonali Bank Ltd. |
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Bank Address |
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Khatunganj Branch Khatunganj, Chittagong, Bangladesh. Tel: 88-031-618299 |
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Bank Name
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National Bank Ltd. |
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Bank Address |
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Agrabad Branch 67, Agrabad C/A, Chittagong, Bangladesh. Tel: 88-031-716163-4 |
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Bank Name
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: |
Bank Asia Ltd. |
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Bank Address |
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Agrabad Branch 69, Agrabad C/ A, Chittagong, Bangladesh. Tel: 88-031-714665, 724876, 714703 Fax: 88-031-714548 |
ADVERSE
DATA MONITORING
|
Dishonored Checks |
:
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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 232/2612, D.T. Road, Pahartali, Chittagong, Bangladesh. It is Situated at
Commercial area. |
GENERAL
COMMENTS
|
The subject company is engaged in Importer, Manufacture &
Distributors. It is reputed company in this line of business. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.22 |
|
|
1 |
INR 90.87 |
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Euro |
1 |
INR 80.09 |
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BDT |
1 |
INR 0.80 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
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Report Prepared
by : |
TPT |
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 |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
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.