MIRA
INFORM REPORT
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Report Date : |
12th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
LOFTY DESIGN& FASHION LIMITED |
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Registered Office : |
76/1,Ali
Ahmed Chunka Road, Narayanganj-1400, Bangladesh |
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Country : |
Bangladesh |
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Date of Incorporation : |
27.04.2005 |
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Com. Reg. No.: |
C-56844 |
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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
LOFTY
DESIGN& FASHION LIMITED
Address
76/1,Ali
Ahmed Chunka Road,
Narayanganj-1400
Bangladesh
Head Office
62/1,Purana
Paltan,
Dhaka-1000,
Telephones : 880-2-7611701,9560187,7172652, 7172258
Fax : 880-2-7614461,9553402
E-mail : lofty@agnionline.com /sm-alim@yahoo.com
SUMMARY
Established : April,2005
Incorporation
No. :
C-56844
Incorporation
Dated :
27th April, 2005
Status :
Satisfactory
Managing
Director & CEO :
Mr.S.M.Hedayetul Alim
Payment :
Regular
Litigation :
Nil
Capital
Invested :
Tk.18 million
Sales :
Tk.175 million
Employees :
345
Executives- 3
Junior Executives-
4 Merchandiser- 5
Quality Control-
14
Supervisory Staffs-
20
Support Staffs-
5
General Staffs-
12
Technicians-
4
Workers-
278
BANK
The City Bank Limited
Tanbazar Branch,
Narayanganj
FACTORY
76/1,Ali Ahmed Chunka Road,
Narayanganj-1400
BRANCH
NIL
OFFICE AREA
950 sq.ft.(rented)
FACTORY AREA
15,000 sq.ft
(rented)
WAREHOUSE AREA
2,700 sq.ft.(rented)
DIRECTORS & SHAREHOLDERS
Mr.S.M.Hedayetul Alim
-Chairman & Managing Director
Mr.E.Z.M.Masudur Rahman
Mr.D.M.Imran
Mr.Alamgir
HISTORY
The company was established by Mr.S.M.Hedayetul Alim and
other directors in the year 2005 in Dhaka city having its factory at Ali Ahmed
Chunka Road, District : Narayanganj
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 Tops
Shorts
PRODUCTION POSITION
Yearly production Capacity :
180,000 Dozens
Last year Production :
180,000 Dozens
MAJOR CLIENTS
Ovisse SRL-----Italy
Dr.Alfred-------Germany
Monkhouse/Clive Mark-UK
VenistyExport Import--Canada
FABRICS & ACCESSORIES FROM
China
Hong Kong
Thailand
Local Sources
Pakistan
India
TERM OF SALES
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
Capital Invested Tk.18 million
Turnover Tk.175
million
Liability NIL
Fixed Assets Tk.30
million
CAPITAL STRUCTURE
Authorized Capital Tk.20
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
The subject is a private limited company engaged in
manufacture and export 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 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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