MIRA
INFORM REPORT
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Report Date : |
14th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
COMFIT
COMPOSITE KNIT LIMITED |
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Registered Office : |
Youth Tower 822/2,Rokeya Sharani, Dhaka-1216, Bangladesh |
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Country : |
Bangladesh |
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Financials (as on) : |
2004 |
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Date of Incorporation : |
2004 |
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Legal Form : |
Private
limited company |
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Line of Business : |
Engaged
in the business of manufacturing and exporting of knit ready-made garments |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Status : |
New
Company |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
name
Comfit Composite knit limited
Address
Youth Tower
822/2,Rokeya Sharani,
Dhaka-1216,
Bangladesh.
Telephones : 880-2-8052343,8112871
Fax : 880-2-8113615
E-mail : youth@youthbd.com
SUMMARY
Established :
2004
Incorporation No. :
File on movement at ROC
Incorporation Dated :
Will be informed later
Commercial Production From :
August,2006
Status :
Satisfactory
Managing Director & CEO :
Mr. Feroz Alam
Payment :
Regular
Litigation :
Nil
Proposed Capital Investment :
Tk.35 million
Sales :
Not yet in production
Employees :
7
Executives- 2
General Staffs- 5
BANK
1 Standard
Chartered Bank
Dilkusha Commercial Area,
Dhaka.
1 EXIM Bank
Limited
Razuk Avenue,
Dhaka.
FACTORY
Youth Tower
822/2,Rokeya Sharani,
Dhaka-1216,
BRANCH
NIL
OFFICE AREA
1,500 sq.ft (own)
FACTORY AREA
30,000 sq.ft (own)
WAREHOUSE AREA
4,000 sq.ft.(own)
DIRECTORS & SHAREHOLDERS
Mr.Abul Quashem Haider
-Chairman
Mr.Feroz Alam-
-Managing Director
Mr.Razzaqul Haider
HISTORY
The company was established in 2004 in Dhaka city by
Mr.Feroz Alam and other directors in Dhaka cityfor producing Knit Ready-made
Garments and they will go into commercial production from July,2006.
BUSINESS
The company on completion will go for manufacturing and
exporting of knit ready-made garments.
PROPOSED RANGE OF PRODUCTS
1 All types
of knit ready-made garments
PRODUCTION POSITION
Yearly production Capacity :
Not yet in production
Last year Production :
==Do==
MAJOR CLIENTS
1 Not yet decided
FABRICS & ACCESSORIES FROM ON
COMPLETION
1 China
1 Hong Kong
1 Thailand
1 Local Source
1 Pakistan
1 India
NAME OF GROUP
Youth Group
SISTER CONCERN
1 Youth Garments Ltd, Dhaka
1 Fair Deal
Enterprise,Dhaka
1 Unicom
Textiles Mills Limited,Dhaka
1 Energy
Development Ltd,Dhaka
1 Youth
Investment Management & Securities Ltd,Dhaka
1 Youth
Spinning mills Ltd,Dhaka
1 Youth Real
Estate Ltd,Dhaka
1 Chowdhury
Apparels Ltd,Dhaka
1 Multimedia
Merchandising Ltd,Dhaka
1 Youth
Foundation Bangladesh Ltd,Dhaka
MEMBER
1 Bangladesh Garments Manufacturer
& Exporters Association, Dhaka.
1 Dhaka
Chamber of Commerce & Industry, Dhaka.
LEGAL FORM
The subject is a private limited company incorporated with the
Registrar of Joint Stock of Companies Dhaka.
FINANCIAL INFORMATION
2004
Proposed Capital Investment Tk.35 million
Turnover Not yet in a production
Liability Tk.28 million
Fixed Assets Tk.40 million
CAPITAL STRUCTURE
Authorized Capital Tk.50
million
Paid up Capital Tk.100,000.00
Each share value Tk.100.00
each
EXCHANGE RATE
GB Pound 1.00=Tk.118.9771
US Dollar 1.00=Tk.
67.0139
Europe Euro 1.00=Tk. 81.6356
Japanese Yen 1.00=Tk. 0.5858
Australian Dollar 1.00=Tk. 50.6070
COMMENTS
Subject is a
private limited company who is under erection process and the company will be ready for producing
and exporting knit ready-made garments
in July,2006. The company is a member
of Youth Group.
Mr. Feroz Alam managing director of the company is an
experienced businessman of good reputation. He is financially solvent and good
at his business commitments.
Although, subject is a new company, it can be considered for
normal business dealings at usual trade terms and conditions with slight
caution.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |