MIRA
INFORM REPORT
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Report Date : |
5th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
INTERSTOFF APPARELS LIMITED |
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Registered Office : |
Chandora, Kaliarkoir, District:Gazipur, Bangladesh. |
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Country : |
Bangladesh |
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Date of Incorporation : |
22.02.2003 |
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Com. Reg. No.: |
C-48428 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Engaged
in manufacturing and exporting of high quality ready-made garments to overseas countries. |
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 |
Company Name
INTERSTOFF APPARELS LIMITED
Address
Chandora,
Kaliarkoir,
District:Gazipur,
Bangladesh.
Telephones :
880-2-9289103,9289240-41
Fax :
880-2-8828458
E-mail : instoff@citechco.net
SUMMARY
Established :
February,2003
Incorporation No. :
C-48428
Incorporation Dated :
22nd February,2003
Status :
Satisfactory
Managing Director & CEO :
Mr.Shahriar Alam
Payment :
Regular
Litigation :
Nil
Capital Invested :
Tk.22 million
Sales :
Tk.295 million
Employees :
525
Executives- 3
Junior Executives-
5 Merchandiser- 10
Quality Control-
20
Supervisory Staffs-
25
Support Staffs-
10
General Staffs-
14
Technicians-
8
Workers-
430
BANK
\Mercantile
Bank Limited
Gulshan Branch,
Dhaka
FACTORY
Chandora,
Kaliarkoir,
District:Gazipur,
OFFICE AREA
1,200 sq.ft.(rented)
FACTORY AREA
28,500 sq.ft (rented)
WAREHOUSE AREA
3,900 sq.ft. (rented)
DIRECTORS & SHAREHOLDERS
Mr.Nazimuddin Ahmed
-Chairman
Mr.Shahriar Alam
-Managing Director
Mr.Sheikh Muhammad Elias
Mr.Naimul Bashar
HISTORY
The company was established in March,2003 by Mr.Shahriar
Alam and other directors in Dhaka city having its factory at Chandora district Gazipur.
BUSINESS
The company is engaged in manufacturing and exporting of
high quality ready-made garments to
overseas countries.
RANGE OF PRODUCTS
Polo Shirts
T-Shirts
Babies Wears
PRODUCTION POSITION
Yearly production Capacity :
3 million dozens
Last year Production :
3 million dozens
MAJOR CLIENTS
GAP-
Italy
Wal-Mart-
USA
Marks & Spancers--UK
Tesco-
UK
Zara----
UK
FABRICS & ACCESSORIES FROM
Hong Kong
China
Thailand
Local Sources
Pakistan
India
TERM OF SALES
Against L/C
NAME OF GROUP
NIL
SISTER CONCERN
Interstoff Clothing 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.22
million Tk.22 million Tk.22
million
Turnover Tk.295
million Tk.294.4 million Tk.294 million
Liability Tk.7.1
million Tk.7.4 million Tk.8.8 million
Fixed Assets Tk.32
million Tk.32 million Tk.31
million
CAPITAL STRUCTURE
Authorized Capital Tk.30
million
Paid up Capital Tk.250,000.00
Each share value Tk.100.00
each
EXCHANGE RATE
GB Pound 1.00=Tk.129.1870
US Dollar 1.00=Tk.
68.6654
Europe Euro 1.00=Tk. 87.0154
Japanese Yen 1.00=Tk. 0.5831
Australian Dollar 1.00=Tk.
52.3228
COMMENTS
Subject is a private
limited company and are engaged in manufacture and export of ready-made
garments. 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 of good reputation. They are financially
solvent at 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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