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MIRA INFORM REPORT
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Report No. : |
510594 |
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Report Date : |
22.05.2018 |
IDENTIFICATION DETAILS
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Name : |
MAK TEXTILE MILLS LTD. |
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Registered Office : |
Anandi, Madhabdi, Narsigndi |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2017 (Summarized) |
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Date of Incorporation : |
10.11.1996 |
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Com. Reg. No.: |
C-31716 |
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Legal Form : |
Private Co |
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Line of Business : |
Manufacturer, Dyeing, Importer and Printing of Gray Fabrics |
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No. of Employees : |
380 |
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 : |
Satisfactory |
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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 |
EXECUTIVE
SUMMARY
|
IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Mak
Textile Mills Ltd. |
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Head Office |
: |
Anandi, Madhabdi, Narsigndi, Bangladesh |
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Tel No |
: |
88-01711617477,
01711533195 |
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Fax No |
: |
Nil |
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E-mail |
: |
Mak_tkp@yahoo.com |
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Website |
: |
Nil |
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Date/ Year of Incorporation |
: |
10.11.1996 |
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Incorporation
No. |
: |
C-31716 |
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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) ________________ |
|
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 |
FINANCIALS-
SUMMARY
|
Year |
Turnover/ Sales |
Assets |
Income/ (Loss) |
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30th
June’2016 |
BDT 510 Million |
BDT 1810.90 Million |
BDT 35.20 Million |
|
30th
June’2017 |
BDT 423 Million |
BDT 1780.31 Million |
BDT 24.46 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Tapan
Kumar Pal |
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Designation |
: |
Managing
Director |
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Contract No |
: |
88-01711533195 |
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Locations Details |
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Operating Address |
: |
Anandi, Madhabdi, Narsigndi, Bangladesh |
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Tel No |
: |
88-01711617477,
01711533195 |
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Fax No |
: |
Nil |
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E-mail |
: |
mak_tkp@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 |
1100 |
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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Factory: |
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Address |
: |
Anandi,
Madhabdi, Norsindi, Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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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 |
: |
30 |
In Factory |
: |
350 |
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In Branch: |
: |
Nil |
Total
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: |
380 |
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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. Jiban Krishna Saha |
2500 |
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Mr. Tapan Kumar Pal |
2500 |
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Mrs. Tulshi Rani Pal |
2500 |
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Mrs. Dipti Rani Pal |
2500 |
DIRECTORS
|
Name |
Designation |
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Mr. Jiban Krishna Saha |
Chairman |
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Mr. Tapan Kumar Pal |
Managing
Director |
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Mrs. Tulshi Rani Pal |
Director |
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Mrs. Dipti Rani Pal |
Director |
MANAGEMENT
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Name |
: |
Mr. Jiban
Krishna Saha |
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Job Description |
: |
Chairman |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
88-01711617477 |
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Name |
: |
Mr. Tapan
Kumar Pal |
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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 |
: |
88-01711533195 |
BUSINESS
OPERATIONS
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Nature
of Activity : |
Manufacturer |
Ö |
Trader |
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Dyeing |
Ö |
Distributor |
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Exporter |
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Importer |
Ö |
Printing |
Ö |
Others |
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Range
of Products: |
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Products |
: |
Gray Fabrics |
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Production
Capacity |
: |
Woven Dyeing: 2, 50, 00,000
Mtr |
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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 |
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 |
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N/A |
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Trade Markets |
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Exports |
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Europe |
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Imports |
: |
India, China |
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Brand Name |
: |
N/A |
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Certified |
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N/A |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL
STRUCTURE
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Authorized
Capital |
: |
BDT 50 Million |
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Paid-up
Capital |
: |
BDT 1000000 |
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No.
of Shares |
: |
10000 |
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Share
Value |
: |
BDT 100.00 Each |
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Main
Assets |
: |
BDT 1780.31 Million |
FINANCIAL
STATEMENT- DETAILED
|
Summary Information Given. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Nil |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
Nil |
BANKING
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Bank Name |
: |
Southeast
Bank Ltd |
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Bank Address |
: |
Narsingdi
SME/Krishi Branch Islam Plaza
(1st Floor), Holding# 1, Maddha Kanda Para, Sadar Road, Ward# 4, Narsingdi
Pauroshava, Narsingdi Sadar,
Narsingdi, Bangladesh Tel:
88-01730-727285 |
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Bank Name |
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Dutch Bangla
Bank Ltd |
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Bank Address |
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Narsigndi
Branch 211, Sorwordi
Park Road, Narsingdi Bazar, Narsingdi, Bangladesh Tel:
88-02-9464460, 9464470, 01713481704 Fax:
88-02-9464466 |
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Bank Name |
: |
United
Commercial Bank Limited |
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Bank Address |
: |
Madhabdee Branch Madhabdee,
Madhabdee, Narsingdi, Bangladesh Tel:
88-06257-56405 |
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 Anandi, Madhabdi, Narsigndi, Bangladesh. It
is situated at Semi-commercial office Area. |
GENERAL
COMMENTS
|
The subject company is a well-known reputed
company in Bangladesh. It is reputed company in this line of business. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
INR 68.09 |
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|
1 |
INR 91.41 |
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Euro |
1 |
INR 79.93 |
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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
: |
PRA |
|
|
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
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 |
|
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.