IDENTIFICATION DETAILS

Name :	PRITOMTEX INDUSTRIES LIMITED

Registered Office :	B-472,BSCIC, Fatullah, Narayanganj, Bangladesh

Date of Incorporation :	18th July, 2004

Legal Form :	Private limited company

Line of Business :	Engaged in manufacturing and exporting of high quality ready-made garments to overseas countries

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Regular

Litigation :	Clear

NAME

Pritomtex Industries Limited

Address

B-472, BSCIC,
Fatullah,
Narayanganj,
Bangladesh.

Telephone : 880-2-7602811,7602822,7602979, 7602980

Fax : 880-2-760164

E-mail: info@pritomtex.com

SUMMARY

Established                              : 2004

Incorporation No.                              : C-53550

Incorporation dated                           : 18th July,2004

Managing Director & CEO                : Mr. Pronab Dutta

Payment                                            : Normal

Litigation                                           : Nil

Capital Invested                                : Tk.18 million

Sales                                                 : Tk.165 million

Employees                                         : 930

Executives- 5

Junior Executives-                  8
Merchandisers-                       12
Quality Control-                                18
Supervisory Staff-                    16
Support Staff-                          8

General Staff-                          20
Technicians-                            8
Workers-                                  835

BANK

r United Commercial Bank Limited
Tanbazar Branch,
Dhaka.

FACTORY

B-472,BSCIC,
Fatullah,
Narayanganj,

BRANCH

NIL

DIRECTORS & SHAREHOLDERS

Mr. Pronab Dutta
-Chairman & Managing Director
Mr. M.A.Matin
Mr. Anupam Dutta

HISTORY

The company was established by Mr. Pronab Dutta and other directors in July 2004 in Narayanganj districts for producing ready-made garments.

BUSINESS

The subject is engaged in manufacturing and exporting of high quality ready-made garments to overseas countries.

RANGE OF PRODUCTS

r T-Shirts
r Tank Top
r Polo Shirts

PRODUCTION POSITION

Yearly Production Capacity - 120,000 dozens

Last year Production - 120,000 dozens

FOREIGN BUYERS

r Derico-----France
r Andaluisa--Spain
r PKM--------Spain
r Morat Corlo-Italy

FABRICS & ACCESSORIES

r China
r Hong Kong
r Thailand
r Malaysia
r India

NAME OF GROUP

ABORONI GROUP

NAME OF SISTER CONCERNS

r Aboroni Textiles Limited, Dhaka
r Tanima Knitting Industries, Dhaka
r Paimexco Ltd, Dhaka
r Priton Printing & Packaging Industries, Dhaka

MEMBER

r Bangladesh Garment manufacturer & Exporter Association, Dhaka
r Dhaka Chamber of Commerce & Industry,
Dhaka.

LEGAL FORM

The subject is a private limited company incorporated with the Registrar of Joint Stock Companies, Dhaka.

FINANCIAL INFORMATION

2005

Capital Invested             Tk.18 million

Turnover                        Tk.165 million

Liability                          Tk.9.2 million

Fixed Assets                   Tk.25 million

CAPITAL STRUCTURE

Authorized Capital         : Tk.50 million

Paid up Capital              : Tk.165 million

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

The subject is a private limited company engaged in manufacturing and exporting of ready-made garments to overseas countries. The quality of their products are of international standard and they always get repeat orders from their foreign buyers.

The directors are experienced and knows their job well. They get good support from their bank. They are financially solvent and good at their business commitments, it is reported.

The company is good for normal business engagements.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

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