MIRA
INFORM REPORT
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Report Date : |
8th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
JOINTEX KNIT WEARS LIMITED |
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Registered Office : |
Mitee Plaza (4th Flor), 14/11,Pallabi,
Mirpur-12, Dhaka-1216, Bangladesh |
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Country : |
Bangladesh |
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Date of Incorporation : |
28.02.2003 |
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Com. Reg. No.: |
C-49029 |
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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
JOINTEX KNIT WEARS
LIMITED
Address
Mitee Plaza (4th Flor),
14/11,Pallabi,
Mirpur-12,
Dhaka-1216,
Bangladesh
Telephones :
880-2-9015442,9013345,9016735
Fax :
880-2-9013345
E-mail : jointex@29bd.net / jointex@bttb.net.bd
SUMMARY
Established :
April,2004
Incorporation No. :
C-49029
Incorporation Dated :
28th February,2003
Status :
Satisfactory
Managing Director & CEO :
Engr.M.Faridur Rahman
Payment :
Regular
Litigation :
Nil
Capital Invested :
Tk.22 million
Sales :
Tk.310 million
Employees :
355
Executives- 3
Junior Executives-
4 Merchandiser- 4
Quality Control- 6
Supervisory Staffs-
21
Support Staffs-
5
General Staffs-
7
Technicians-
4
Workers-
301
BANK
Janata Bank
Corportae Branch,
Kamal Ataturk Avenue,
Banani,
Dhaka
FACTORY
Mitee Plaza (4th Flor),
14/11,Pallabi,
Mirpur,
Dhaka-1216,
BRANCH
NIL
OFFICE AREA
9,50 sq.ft.(rent)
FACTORY AREA
15,600 sq.ft
(rented)
WAREHOUSE AREA
2,900 sq.ft.(rented)
DIRECTORS & SHAREHOLDERS
Mr.Mir Mohammad Faruque
-Chairman
Engr.M.Faridur Rahman
Mr.Noor Mahammad Khan
HISTORY
The company was established by Engr.M.Faridur Rahamn and
other directors in the year April,2003 in Dhaka city.
BUSINESS
The company is engaged in manufacturing and exporting of
high quality ready-made garments to overseas countries.
RANGE OF PRODUCTS
T-Shirts
Polo Shirts
Tank Top
PRODUCTION POSITION
Yearly production Capacity :
368,000 Dozens
Last year Production :
368,000 Dozens
MAJOR CLIENTS
Euro Bangla-----Netherlands
MGB-------------Germany
OBI-------------Italy
FABRICS & ACCESSORIES FROM
China
Hong Kong
Thailand
Local Source
Pakistan
India
TERM OF PAYMENT
Against L/C
NAME OF GROUP
NIL
SISTER CONCERN
NIL
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.310 million Tk.309.8
million Tk.309.4 million
Liability NIL NIL NIL
Fixed Assets Tk.38 million Tk.38 million Tk.37 million
CAPITAL STRUCTURE
Authorized Capital Tk.26
million
Paid up Capital Tk.100,000.00
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 engaged in
manufacturing and exporting of high quality ready-made garment to overseas
countries. The quality of their products is of international standard and they
enjoy good reputation among their foreign buyers.
Directors are experienced businessmen of good reputation.
They are financially sound and good at their business commitments, as reported.
The company can be considered normal for business dealings
at usual tarde 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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