MIRA
INFORM REPORT
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Report Date : |
29th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
TECHNO
SPINNING MILLS LIMITED |
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Registered Office : |
Home Town Apartment (10th Floor), 87, New Eskaton, Dhaka-1000, Bangladesh |
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Country : |
Bangladesh |
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Date of Incorporation : |
30.05.2005 |
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Com. Reg. No.: |
C-57324 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
The
company on completion will be working as a spinning mills. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
New
Company |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
Company name
Techno Spinning Mills Ltd
Address
Home Town Apartment (10th
Floor),
87, New Eskaton,
Dhaka-1000,
Bangladesh
Telephone : 880-2-9350723,9350724
Fax :
880-9352253
E-Mail : techno@bdmail.net
SUMMARY
Established :
2005
Commercial Production From :
January,2007
Incorporation No. :
C-57324
Incorporation Dated :
30th May,2005
Status :
Satisfactory
Managing Director & CEO :
Mr.Syed Manzurul Haque
Payment :
Regular
Litigation :
Nil
Capital Invested :
Tk.20 million
Sales :
Under Construction
Employees :
25
Executives- 2
Junior Executives- 3
Engineers--- 2
Textile Engineers- 4
Junior Engineers- 3
Supervisory Staffs- 5
General Staffs- 6
BANK
Islami Bank Bangladesh Limited,
Main Branch,
Motijheel Commercial Area,
Dhaka.
FACTORY
North Dariapur,
Kaliakoir,
District : Gazipur,
Tel.880-68-2252006
BRANCH
NIL
OFFICE AREA
1,200 sq.ft. (Rented)
FACTORY AREA
19,400 sq.ft (own)
WAREHOUSE AREA
3,250 sq.ft.(rented)
DIRECTORS & SHAREHOLDERS
Mr.Syeda Caspea Hoque
-Chairperson
Mr.Syed Manzurul Hoque
-Managing Director
Mr.Syed Enayet Kabir
HISTORY
The subject was established in
May,2005, by Mr.Syed Manzurul Hoque and other directors in Dhaka city having
its factory at North Dariapur,Kaliakoir,district: Gazipur which is under
construction and expected to go in ton production in January,2007.
BUSINESS
The company on completion will be
working as a spinning mills.
RANGE OF PRODUCTS (PROPOSED)
Yarns
MAJOR CLIENTS (PROPOSED)
Local Export Oriented Composite
Textile Mills.
TERM OF SALES
Cash
Credit
NAME OF GROUP
NIL
SISTER CONCERN
Techno textile Mills limited, Dhaka
,
Techno Enterprise Limited, Dhaka
MEMBER
Bangladesh Textile Mills
Association, Dhaka
Dhaka Chamber of Commerce &
Industries, Dhaka
LEGAL FORM
The subject is a private limited
company incorporated with the Registrar of Joint Stock of Companies Dhaka.
FINANCIAL INFORMATION
2005
Capital Invested Tk.20
million
Turnover Not yet started
Liability Tk.12.8 million
Fixed Assets Tk.60 million
CAPITAL STRUCTURE
Authorized Capital Tk.50 million
Paid up Capital Tk.200,000.00
Each share value Tk.100.00 each
EXCHANGE RATE
GB Pound 1.00=Tk.130.9764
US Dollar 1.00=Tk. 69.8000
Europe Euro 1.00=Tk.
89.3847
Japanese Yen 1.00=Tk. 0.6098
Australian Dollar 1.00=Tk.
53.3891
COMMENTS
The subject is a family owned
private limited company which will be on completion will be spinning yarns and
would be selling it to local export oriented composite textile mills. The
company is expected to go in to production from January,2007.
The directors are experienced businessman and have good reputation in the local market.
They are financially solvent and good at his business commitments, it is
reported.
The company is okay for normal
business engagements.
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 |
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NR |
In view of the lack of information, we have
no basis upon which to recommend credit dealings |
No Rating |
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