MIRA
INFORM REPORT
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Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
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Name : |
Argon Denims Limited |
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Registered Office : |
Plot No.33, Section-7, Mirpur, |
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Country : |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
03.01.2005 |
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Com. Reg. No.: |
C-55527 |
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Legal Form : |
Private limited company |
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Line of Business : |
Produce denim garments |
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 : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
Argon Denims Limited
Address
Plot No.33,
Section-7,
Mirpur,
Telephones : 880-2-8016196, 8961552, 8011227
Fax : 880-2-8013504,
E-mail : evince@bangla.net
SUMMARY
Established : January,2005
Commercial Production From : November,2007
Incorporation No. : C-55527
Incorporation Dated : 3rd January,2005
Status : Satisfactory
Proprietor & CEO : Mr.Anwarul Alam Chowdhury
Payment : Regular
Litigation : Nil
Proposed Capital Investment : Tk.60 million
Sales : New Company
Employees : 21
Executives- 3
Junior Executives- 4 Support Staffs- 5
General Staffs- 9
BANK
Prime Bank Limited
Local Office Branch,
Motijheel Commercial Area,
Mutual Trust Bank Limited
Mirpur Branch,
BRANCH
NIL
FACTORY
Bariar,
District: Gazipur,
OFFICE AREA
1,550 sq.ft.(own)
FACTORY AREA
35,400 sq.ft (own)
WAREHOUSE AREA
4,200 sq.ft (own)
DIRECTORS
Mr.Anwarul Alam Chowdhury
Mr.Badrul Alam Chowdhury
Mr.M.Mizanur Rahman
Mr.M.Istiaqur Rahman Khaled
Shamsul Hoque
HISTORY
The subject was established in January,2005 by Mr.Anwarul Alam
Chowdhury and other directors in
BUSINESS
The company will produce denim garments while they will start production in November,2007.
ITEMS DEALING IN
All types denim garments
PRODUCTION POSITION
Yearly Production Capacity : 100,000 dozens
Last year Production : New company not in production yet
MAJOR CLIENTS
EEC Countries
PROPSED IMPORT FROM
Local Sources
TERMS OF SALES
Against L/C
NAME OF GROUP
Evince Group
SISTER CONCERN
Evince Shirts Limited,
Evince garments Limited,,
Evince Textile Limited,
Evince Ladieswear Limited,
Evince Limited,
Evince Coputerised Lebel Ltd,
MEMBER
Dhaka Chamber of Commerce & Industries,
LEGAL FORM
The subject is private limited company incorporated with the
Registrar of Joint Stock Companies,
FINANCIAL
INFORMATION
2006
Capital Invested Tk.60 million
Turnover New
company ( Production will start from Nobember,2007)
Liability Tk. 36.2 million
Fixed Assets Tk. 50 million
CAPITAL STRUCTURE
Authorized Capital Tk.50 million
Paid up Capital Tk.200,000.00
Each share value N/A
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 which is under erection stage and
the directors contemplating to start production from November,2007. The L/C has
been opened for importing machineries from
The directors are experienced in garment export business and it is expected that they will do when in their new venture.
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%)