MIRA
INFORM REPORT
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Report Date : |
8th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
STERLING LAUNDRY
LIMITED |
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Registered Office : |
House No.25 (B-2 Floor), Road No.47, Gulshan-2, Dhaka
Bangladesh. |
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Country : |
Bangladesh |
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Date of Incorporation : |
15.02.2006 |
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Com. Reg. No.: |
C-60504 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Washing
of ready-made garments. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New
Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name
STERLING LAUNDRY
LIMITED
Address
House No.25 (B-2 Floor),
Road No.47,
Gulshan-2,
Dhaka
Bangladesh.
Telephones :
880-2-8828122,8811543
Fax :
880-2-8826192
E-mail : fazlul@sterlingapprels.com
SUMMARY
Established :
2006
Commercial Production :
May,2007
Incorporation No. :
C-60504
Incorporation Dated :
15th February,2006
Status :
Satisfactory
Managing Director & CEO :
Mr.M.Fazlul Haque
Payment :
Regular
Litigation :
Nil
Capital Investment :
Tk.25 million
Sales :
Not yet in production
Employees :
25
Executives- 3
Junior executives-
5
Supervisory Staffs-
8
General Staffs- 4
Technicians- 5
BANK
Dhaka Bank Limited
Gulshan Branch,
Dhaka.
FACTORY
Nayarhat,
Dhamrai,
Dhaka
BRANCH
NIL
OFFICE AREA
950 sq.ft (rented)
FACTORY AREA
19,400 sq.ft (rented)
WAREHOUSE AREA
4,200 sq.ft.(rented)
DIRECTORS & SHAREHOLDERS
Mr.M.Siddiqur Rahman
-Chairman
Mr.M.Fazlul Haque
-Managing Director
Mr.M.Sirajul Haque
HISTORY
The company was established in 2006 in Dhaka city by
Mr.M.Fazlul Haque and other directors in Dhaka city to work as a wahing plant
and they will go into commercial production from May,2007.
BUSINESS
The company on completion will go for washing of ready-made
garments.
PROPOSED SERVICES
All types of ready-made garments
PROPOSED MAJOR CLIENTS
Local Export Oriented Ready-Made
Garments
MACHINERY IMPOTED FROM
China
Taiwan
NAME OF GROUP
Sterling Group
SISTER CONCERN
Sterling Apparels Ltd, Dhaka
Starling Fashion Wear Limited,
Dhaka
Sterling Garments Limited, Dhaka
MEMBER
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
2006
Proposed Capital Investment Tk.25 million
Turnover Not yet in a Production
Liability Tk.14 million
Fixed Assets Tk.40 million
CAPITAL STRUCTURE
Authorized Capital Tk.30 million
Paid up Capital Tk.200,000.00
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’s plant is under construction. It is a member company of Sterling Group.
Mr.M.Fazlul Haque the managing director of the company is an experienced businessman of good reputation. He is financially solvent and good at his 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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