MIRA
INFORM REPORT
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Report Date : |
06.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
Shanta Industries Limited |
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Registered Office : |
Plot No. 198-201/220-223, Dhaka Export Processing Zone, Ganakbari,
Savar, Dhaka |
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Country : |
Bangladesh |
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Date of Incorporation : |
22nd April, 1998 |
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Com. Reg. No.: |
C-35281 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and exporting of high quality ready-made garments. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
Report on
Shanta Industries Limited
Address
Plot
No.198-201/220-223,
Dhaka Export
Processing Zone,
Ganakbari,
Savar,
Dhaka,
Bangladesh.
Head Office
Safura Tower
(14th Floor),
20, Kemal Ataturk Avenue,
Banani,
Dhaka-1212,
Bangladesh.
Telephones : 880-2-8813640,88115071
Fax : 880-2-8813641
E-mail :
shanta@citechco.net
tarik@silcepz@shantagroup.com
sohel@silcpz@shantagroup.com
SUMMARY
Established : April,1998
Incorporation
No. :
C-35281
Incorporation
Dated : 22nd
April, 1998
Managing
Director & CEO :
Mr. khondaker Moniruddin
Employees
1535
Executives- 5
Junior
Executives- 7
Merchandiser- 10
Quality
Control- 70
Supervisory
Staffs- 85
Support
Staffs- 15
General
Staffs- 18
Technicians- 10
Workers- 1,315
BANK
Hongkong
Shanghai Banking Corporation,
Anchor
Tower,
Sonagaon
Road,
Dhaka.
Prime Bank
Limited
Banani
Branch,
Dhaka
FACTORY
Plot
No.198-201/220-223,
Dhaka Export
Processing Zone,
Ganakbari,
Savar,
Tel.
880-2-7701178-9, 7701573-4
Fax.
880-2-7701180
OFFICE AREA
1,400 sq.
ft.(rented)
FACTORY AREA
38,500,000
sq. ft (rented)
WAREHOUSE AREA
4,500 sq.
ft. (rented)
DIRECTORS & SHAREHOLDERS
Mr.
Khondaker Moniruddin - Chairman & Managing Director
Mr. Sunil
Mukhi
HISTORY
The company was established in April, 1998 by Mr. Khondaker
Moniruddin and other director in Dhaka city having its factory at DEPZ,
Ganakbari, Savar.
BUSINESS
The company is engaged in manufacturing and exporting of
high quality ready-made garments to overseas markets.
RANGE OF PRODUCTS
Shirts
Pants
Shorts
PRODUCTION POSITION
Yearly production Capacity : 390,000 Dozens
Last year Production : 390,000 Dozens
MAJOR CLIENTS
Bulu--------USA
Mars--------UK
Sears------USA
FABRICS & ACCESSORIES
FROM
Hong Kong
China
Thailand
Local
Sources
Pakistan
India
TERM OF SALES
Against L/C
NAME OF GROUP
Shanta Group
SISTER CONCERN
Shanta Garments Limited, Dhaka
Shanta Apparels Limited, Dhaka
Shanta Denims Limited, Dhaka
Shanta Traders, Dhaka
Shanta Washing Limited, Dhaka
MEMBER
Bangladesh Garments Manufacturer & Exporters 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 2004 2003
Capital
Invested Tk.25 million Tk.25
million Tk.25 million
Turnover Tk.346 million Tk.345.3 million Tk.345.8 million
Liability Tk.8.2 million Tk.8.5 million Tk.8.6 million
Fixed Assets Tk.48 million Tk.48 million Tk.47
million
CAPITAL STRUCTURE
Authorized
Capital Tk.30 million
Paid up
Capital Tk.2
million
Each share
value Tk.100.00 each
EXCHANGE RATE
GB
Pound 1.00=Tk.138.0118
US
Dollar 1.00=Tk. 70.4700
Europe
Euro 1.00=Tk. 92.7535
Japanese
Yen 1.00=Tk. 0.5992
Australian
Dollar 1.00=Tk. 55.5718
COMMENTS
Subject is a private limited company engaged in manufacture and
export of ready-made garments to overseas country. The quality of their
products are very good and they are well known in overseas markets.
Directors are well conversant in their line of trade and
they are also experienced businessmen. They are financially solvent and good at
their business commitments, as reported.
The company can be considered normal for business dealings
at usual trade terms and conditions.
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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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)