3decades

MIRA INFORM REPORT

Report No. :	510174
Report Date :	26.05.2018

IDENTIFICATION DETAILS

Name :	BISMILLAH TRADING

Registered Office :	Belpukuria, Jamira, Puthia-6260, Rajshahi

Country :	Bangladesh

Financials (as on) :	30.06.2017 (Summarized)

Date of Incorporation :	2012

Legal Form :	Sole Proprietorships

Line of Business :	Distributor, Importerof Rice & Flour

No. of Employees :	10

RATING & COMMENTS

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

MIRA’s Rating :

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

Status :	Moderate

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

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 2005 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 surpassed $28 billion in FY 2016-17. The sector continues to grow despite the need for improvements in factory safety conditions and workers’ rights to avert further high-profile accidents that killed more than 1,000 workers in 2012 and 2013. In FY 2016-17, steady export growth in the garment sector, combined with $13 billion in remittances from overseas Bangladeshis, contributed to Bangladesh's rising foreign exchange reserves.

The recent influx of over 700,000 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 record flooding. Recent improvements to energy infrastructure, including the start of liquefied natural gas imports in 2018, represent a major step forward in resolving a key growth bottleneck.

Source : CIA

EXECUTIVE SUMMARY

*IDENTIFICATION DETAILS*
Correct company Name	:	Bismillah Trading
Head Office	:	Belpukuria, Jamira, Puthia-6260, Rajshahi, Bangladesh.
Tel No	:	88-01711413031
Fax No	:	Nil
E-mail	:	bismillahdfm@gmail.com
Website	:	Nil
Date/ Year of Establishment	:	2012
Trade License No	:	Nil
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 Cantonment Board Chief Controller of Import & Export

Other Registry & Certification Details

Taxpayer’s Identification No (TIN)	:		511739384431			Date of Registration		:		N/A
Issuing Authority	:		National Board of Revenue

Import Registration Certificate No		:		Ba-0235519	Date of Registration		:		20.08.2018
Issuing Authority		:		Chief Controller of Import & Export (CCIE)

FINANCIALS- SUMMARY

Year	Turnover/ Sales	Assets	Income
30^th June’2016	BDT 67 Million	BDT 10.10 Million	BDT 2.48 Million
30^th June’2017	BDT 48 Million	BDT 9.50 Million	BDT 1.25 Million

FULLCHECK REPORT DETAILS

*Information Parted By*
Name	:	Mr. Altaf Hossain
Designation	:	Chief Executive Officer
Contract No	:	88-01711821105

*Locations Details*
Business Address	:	Belpukuria, Jamira, Puthia-6260, Rajshahi, Bangladesh.
Tel No	:	88-01711413031
Fax No	:	Nil
E-mail	:	Nil
Website	:	Nil

Location :

: Owned

Rented

Leased

Area

450

Sq. ft.

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

Warehouse:

Address	:	Belpukuria, Jamira, Puthia-6260, Rajshahi, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

1200

Sq. ft.

Branch:
Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	4	Warehouse	:	Nil
	Sales	:	6	Total	:	10
Details:

PROPRIETOR

Names of Proprietor

Mr. Md Enamul Haque

MANAGEMENT

Name	:	Mr. Md Enamul Haque
Job Description	:	Proprietor
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01711413031

Name	:	Mr. Altaf Hossain
Job Description	:	Chief Executive Officer
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01711821105

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Trader		Dealer	Distributor	Ö

	Exporter	Importer	Ö	Services	Others

Item Dealings In:

Products	:	Rice & Flour
Production Capacity	:	N/A
Last Year Production	:	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			:	N/A
		Imports			:	India, China
Brand Name			:	N/A
Certified			:	N/A
Auditors			:	N/A
Operation Status			:	Active
Member			:	N/A

CAPITAL STRUCTURE

Capital Invested	:	BDT 8 Million
Assets	:	BDT 9.50 Million

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns

Bismillah Rice Mill

Bismillah Flour Mill

Bismillah Dal Mill

Bismillah Enterprise

Subsidiary

N/A

Name of The Group

N/A

BANKING

Bank Name

Islami Bank Bangladesh Ltd

Bank Address

Baneswar Branch

Haque Market (1^st Floor), Baneswar Bazar, Puthia, Rajshahi, Bangladesh.

Tel: 88-01730-700064, 01755-646357

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 Belpukuria, Jamira,

Puthia-6260, Rajshahi, Bangladesh. It is situated at Semi-Commercial Office area.

GENERAL COMMENTS

SC is considered medium-sized in its line with fairly stable financial conditions. A credit line up to USD 23000 would appear to be within SC’s capacities.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.26
UK Pound	1	INR 91.22
Euro	1	INR 79.88
BDT	1	INR 0.80

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

INFORMATION DETAILS

Analysis Done by :	DIV

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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