MIRA
INFORM REPORT
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Report Date : |
16.07.2007 |
IDENTIFICATION DETAILS
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Name : |
Saad Musa Fabrics Limited |
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Registered Office : |
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Country : |
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Date of Incorporation : |
8th August,1994 |
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Com. Reg. No.: |
CH-1678 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and exporting of high quality ready-made garments |
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 : |
Regular |
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Litigation : |
Clear |
Report on
Saad Musa
Fabrics Limited
Address
Kulgaon,
Jalalabad,
Chitagong,
Telephones : 880-31-681227,683951
Fax : 880-31-683954
E-mail :
info@saadmusa.com
Mohsin@saadmusa.com home.textile@saadmusa.com
SUMMARY
Established : August,1994
Incorporation No. : CH-1678
Incorporation
Dated : 8th
August,1994
Managing
Director & CEO :
Mr. Mohammad Mohsin
Employees
552
Executives- 3
Junior
Executives- 5
Merchandisers- 8
Quality
Control- 20
Supervisory
Staffs- 25
Support
Staffs- 8
General Staffs- 18
Technicians- 8
Workers- 457
BANK
Al-Arafa
Islami Bank Limited
Agrabad
Branch,
Agrabad
Commercial Area,
Agrani Bank
New Market Branch,
BRANCH
NIL
FACTORY
Kulgaon,
Jalalabad,
Chitagong,
OFFICE AREA
2,000 sq.
ft. (rented)
FACTORY AREA
25,000 sq.
ft (rented)
WAREHOUSE AREA
3,800 sq. ft
(rented)
DIRECTORS &
SHAREHOLDERS
Mr. Mohammad Mohsin - Chairman & Managing Director
Mr.
Moinuddin Ahmed Chowdhury
HISTORY
The subject was established in August, 1994 by Mr. Mohammad
Mohsin and other director in
BUSINESS
The company is engaged in engaged in manufacturing and
exporting of high quality ready-made garments to overseas countries.
Jackets
Trousers
PRODUCTION POSITION
Yearly
Production Capacity :
144,000 dozens
Last year
Production :
144,000 dozens
MAJOR CLIENTS
Auchan International----France
Santoshtefano SR-------
KIK Textile-------------
Fifty Fifty B.V.---------
YM INC(Sales)---------
SRG Importer----------
RAW MATERIALS FROM
TERMS OF SALES
Against L/C
NAME OF GROUP
Saadmusa Group
SISTER CONCERN
M. A. Rahman Dyeing Industries Ltd,
Emdad Etima Spinning Mills Ltd,
Bastushilpi Ltd,
MEMBER
LEGAL FORM
The subject is a private limited company incorporated with
the Registrar of Joint Stock of Companies Chittagong.
FINANCIAL INFORMATION
2006 2005 2004
Capital
Invested Tk.25 million Tk.25 million Tk.25 million
Turnover Tk.365 million Tk.364.6 million Tk.364.8 million
Liability Tk.4.6 million Tk.4.1 million Tk.4.4 million
Fixed Assets Tk.40 million Tk.40 million Tk.38 million
CAPITAL STRUCTURE
Authorized Capital Tk.50 million
Paid up
Capital Tk.250,
000.00
Each share
value Tk.100.00
EXCHANGE RATE
GB
Pound 1.00=Tk.129.1870
US Dollar 1.00=Tk.
68.6654
Japanese
Yen 1.00=Tk. 0.5831
Australian Dollar 1.00=Tk. 52.3228
COMMENTS
The subject is a private limited company engaged in hundred
percent export oriented ready-made garments industry. Their products are of
international standard and they enjoy a good reputation among their buyers.
The director are well conversant in their line of trade.
They are financially solvent and good at their business commitments, it is
reported.
The company is good for normal business engagements.
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)