MIRA INFORM REPORT

 

 

Report Date :

18.01.2007

 

IDENTIFICATION DETAILS

 

Name :

M R Dyeing and Finishing Pvt Limited

 

 

Registered Office :

Dhaka Export Processing Zone, Savar, Dhaka

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

4th November, 2001

 

 

Com. Reg. No.:

C-44344

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Engaged in dyeing and finishing of fabrics.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Report on

 

M R Dyeing and Finishing Pvt Limited

 

 

Address     

 

Dhaka Export Processing Zone,

Savar,

Dhaka,

Bangladesh.

Telephone         : 880-2-7110517,

Fax                   : 880-2-7101976

E-Mail               : prostar@bdonline.com

                                                                                     

                                               

SUMMARY

 

Established                                           : November, 2001

Incorporation No.                                    : C-44344

Incorporation Dated                                : 4th November, 2001

Managing Director & CEO                       : Mr. S. M. Salim Ullah

 

 

Employees                 

 

210

 

Executives-                      3

Junior Executives-           5

Textile Engineer-             3

Junior Textile Engineer-   2

Quality Control-              10

Supervisory Staff-          12

Support Staff-                  5

Technicians-                    4                   

General Staffs-            166

                       

                                                                       

BANK

 

Islami Bank(Bangladesh) Limited

Foreign Exchange Branch,

Motijheel Commercial Area,

Dhaka.

 

 

 

FACTORY

 

Dhaka Export Processing Zone,

Savar,

Dhaka,

 

 

BRANCH

 

NIL

 

 

OFFICE AREA

 

1,100  sq. ft.(rented)

 

                                   

FACTORY AREA

 

26,200 sq. ft (own)

 

 

WAREHOUSE AREA

 

2,900 sq. ft.(rented)

 

 

DIRECTORS & SHAREHOLDERS

 

Mrs. Maleka Begum  - Chairperson

Mr. S. M. Salim Ullah - Managing Director

Mr. Ershadul Kabir

           

                                   

HISTORY

 

The subject was established in November, 2001 by Mr. S. M. Salim Ullah and other directors in Dhaka city .

 

 

BUSINESS

 

The company is engaged in dyeing and finishing of fabrics.

 

RANGE OF SERVICES

 

Dyeing and Finishing of all types of Fabrics

 

 

PRODUCTION POSITION

 

Yearly production Capacity                     : 1,500 tons

Last year Production                              : 1,020 tons

 

 

MAJOR CLIENTS

 

Local Export Oriented Ready-Made Garments,

                                               

                                               

TERM OF SALES

 

Cash

Credit

                                               

 

NAME OF GROUP

                                   

Prostar Group

 

 

SISTER CONCERN

 

Province Apparels  Limited, Dhaka

Star Knitwear’s Ltd, Dhaka

Star Garments Limited, Dhaka

Bengal Motor Driving, Dhaka

 

 

MEMBER

 

Bangladesh Textile Mills 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    

 

                                    2004                    2003                          2002                            

 

Capital Invested             Tk.30 million        Tk.30 million                Tk.30 million     

 

Turnover                        Tk.320 million       Tk.319.5 million          Tk.319.8 million

           

Liability                         Tk.8.5 million        Tk.8.2 million             Tk.8.7 million    

           

Fixed Assets                 Tk.65 million         Tk.65 million               Tk.64 million       

 

 

CAPITAL STRUCTURE

 

Authorized Capital          Tk.50 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 is a family owned private limited engaged in dyeing and finishing of fabrics. Their main clients are the local export oriented ready-made garments industries.

 

Managing director of the company is an experienced businessman and knows his job well. 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

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions