MIRA
INFORM REPORT
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Report Date : |
19.07.2007 |
IDENTIFICATION DETAILS
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Name : |
Sinha Rope Denim Limited |
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Registered Office : |
House No. 368, Road No. 28, New Dohs, Mohakhali, |
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Country : |
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Date of Incorporation : |
2nd August, 2005 |
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Com. Reg. No.: |
C – 58425 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The company on completion will manufacture and sell denim yarns
to the local export oriented denim factories. |
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 : |
Yet to Commence Production |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Report on
Sinha Rope
Denim Limited
Address
House No. 368,
Road No. 28,
New DOHS,
Mohakhali,
Telephones : 880-2-8828856, 8828860-4,
Fax : 880-2-8828856
E-mail :
pex@citechco.net
opex@citechco.net
SUMMARY
Established : August,
2005
Commercial
Production From :
November, 2007
Incorporation
No. : C
- 58425
Incorporation
Dated : 2nd
August, 2005
Managing
Director & CEO :
Capt. (rtd) Anisur Rahman Sinha
Employees
12
Executives- 2
Junior
Executives- 3
Textile
Engineers- 2
Engineer- 1
General Staffs- 4
BANK
United
Commercial Bank Ltd,
Mohakhali
Branch
Standard
Chartered Bank
Dilkusha
Commercial Area,
BRANCH
NIL
FACTORY
Kachpur,
District.Narayanganj
OFFICE AREA
1,600 sq.
ft. (own)
FACTORY AREA
40,000 sq.
ft (own)
WAREHOUSE AREA
3,100 sq. ft
(own)
DIRECTORS &
SHAREHOLDERS
Capt.(rtd)
Anisur Rahman Sinha -Chairman
Mr. Anowar Uddin - Managing Director
Mr. F. Jahan
HISTORY
The subject was established in August,2005 by Capt(rtd)
Anisur Rahman Sinha and other directors
in
BUSINESS
The company on completion will manufacture and sell denim
yarns to the local export oriented denim factories.
PROPOSED
Denim Yarns
PRODUCTION POSITION
Yearly Production
Capacity : Not given
by the subject
Last year
Production :
New Company
PROPOSED MAJOR
CLIENTS
Local Export Oriented Ready-made Denim Industries
RAW MATERIALS FROM
TERMS OF SALES
Cash
Credit
NAME OF GROUP
Sinha Group
SISTER CONCERN
Opex Apparel Ltd,
Opex Designers Ltd,
Opex Fashions Ltd,
Opex Garments Ltd,
Opex Industries Ltd,
Opex Style Wears Ltd,
Opex Ready Wears Ltd,
Sinha Industries Ltd, Narayanganj
Sinha Knitting Ltd, Narayanganj
Sinha Style Wears Ltd,
MEMBER
Dhaka Chamber of Commerce & Industries,
LEGAL FORM
The subject is a private limited company incorporated with the
Registrar of Joint Stock of Companies Dhaka.
FINANCIAL
INFORMATION
2006
Capital
Invested Tk.68 million
Turnover New Company
Liability Tk.43.1 million
Fixed Assets Tk.100 million
CAPITAL STRUCTURE
Authorized
Capital Tk.100 million
Paid up
Capital Tk.200,
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 belongs to the Opex
Sinha Group who are famous in local export oriented ready-made garment
industries. The company on completion will produce denim yarns for the local
denim industries. The subject will be on commercial production from
November,2007.
The directors 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%)