MIRA
INFORM REPORT
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Report Date : |
14.06.2007 |
IDENTIFICATION DETAILS
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Name : |
GOLDTEX LIMITED |
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Registered Office : |
Plot No.97, 113, 124 & 125, |
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Country : |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
November,2003 |
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Com. Reg. No.: |
C-50972 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing and Exporting of 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 : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
GOLDTEX LIMITED
Address
Plot No.97, 113, 124 & 125,
Ganakbari,
Savar,
Telephones : 880-2-7701429,
771430430-31
Fax :
880-2-7701277
E-mail : info@southchinabd.com
enam@actor-geglobal.com
SUMMARY
Established :
November,2003
Incorporation No. :
C-50972
Incorporation Dated :
4th November,2003
Status :
Satisfactory
Managing Director & CEO :
Mr.N.Kelvin
Payment :
Regular
Litigation :
Nil
Capital Invested :
Tk.51 million
Sales :
Tk.652 million
Employees :
2,403
Executives- 4
Junior Executives- 7 Merchandisers- 10
Quality Control- 35
Supervisory Staffs- 62
Support Staffs- 11
General Staffs- 22
Technicians- 10
Workers- 2,242
BANK
HSBC,
Kawran Bazar Branch,
BRANCH
NIL
FACTORY
Plot No.97, 113, 124 & 125,
Ganakbari,
Savar,
OFFICE AREA
1,900 sq.ft.(rented)
FACTORY AREA
42,400 sq.ft (rented)
WAREHOUSE AREA
3,900 sq.ft (rented)
DIRECTORS &
SHAREHOLDERS
Mr.Nagan Hung Tak - Chairman
Mr.N.Kelvin -
Managing Director
HISTORY
The subject was established in November,2003 by Mr.N.Kelvin and other
director in
BUSINESS
The company is engaged in manufacturing and exporting of ready-made
garments to overseas countries.
Pants
Skirts
PRODUCTION POSITION
Yearly Production Capacity :
250,000 dozens
Last year Production :
249.850 dozens
MAJOR CLIENTS
Target---------
M.T.D---------
FABRIC &
ACCESSORIES FROM
1
1
1 Local Sources
1
1
1
TERMS OF SALES
1 Against L/C
NAME OF GROUP
NIL
SISTER CONCERN
1 South China Bleaching & Dyeing Factory
Ltd,
1 Actor Sporting Ltd,
MEMBER
1
1 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 2005 2004
Capital Invested Tk.51
million Tk.51 million Tk.51 million
Turnover Tk.652
million Tk.651.4 million Tk.651.7 million
Liability Tk.10.3
million Tk.10.6 million Tk.10.8 million
Fixed Assets Tk.75
million Tk.75 million Tk.74 million
CAPITAL STRUCTURE
Authorized Capital Tk.50
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 engaged in manufacturing and
exporting ready-made garments to overseas countries. The qualities of their
products are very good and they always keep constant watch for keeping the
highest standard of quality as such they always get repeat order from their
overseas clients
The director are well conversant in their line of trade and they are
also experienced businessman. 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%)