MIRA
INFORM REPORT
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Report Date : |
15.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
YOUNG-A-TEXTILE CO. LIMITED |
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Registered Office : |
Eastern Side of FS SFB No. 3 & 4, Dhaka Export Processing Zone,
Ganakbari, Savar, Dhaka |
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Country : |
Bangladesh |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
C-49725 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in the business of dyeing, finishing and printing of fabrics. |
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 : |
Usually correct |
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Litigation : |
Clear |
Report on
YOUNG-A-TEXTILE CO. LIMITED
Address
Eastern Side of FS SFB No.3 & 4,
Dhaka Export Processing Zone,
Ganakbari,
Savar,
Dhaka,
Bangladesh
Telephones : 880-2-7702198,772199,
Fax :
880-2-7702197
E-Mail :
sadibnay@yahoo.com
Head Office
Flat No.E-1 (4th Floor),
House No.10,
Plot No.10,
Road No.16 A,
Gulshan-1,
Dhaka-1212,
Bangladesh.
Tel. : 880-2-8810071, 8813952, 9884293, 8825704
Fax No. 880-2-8810736, 8829117
SUMMARY
Established :
2003
Incorporation No :
C-49725
Incorporation dated :
1st July,2003
Managing Director & CEO :
Mr. M. S. Kim
Employees
351
Executives- 2
Junior Executive- 4
Textile Engineers- 5
Junior Engineers- 2
Quality Control- 10
Supervisory Staff- 15
Sales Staff- 10
General Staff- 15
Technicians- 4
Workers- 284
BANK
Standard Chartered Bank
DEPZ Branch,
Savar,
Dhaka
Woori Bank Limited
Gulshan Branch,
Dhaka
Prime Bank Limited,
Gulshan Branch,
Dhaka
FACTORY
Eastern Side of FS SFB No.3 & 4,
Dhaka Export Processing Zone,
Ganakbari,
Savar,
Dhaka,
OFFICE AREA
1, 300 sq. ft (leased)
FACTORY AREA
42,500 sq. ft (leased)
WAREHOUSE AREA
5,100 sq. ft. (leased)
BRANCH
NIL
DIRECTORS &
SHAREHOLDERS
Mr. M. S. Kim – Chairman & Managing Director
Mr. S. W. Lee
Mr. Kong Huk Chung
HISTORY
Mr. M. S. Kim and other directors established the subject in
the year January 2003 in Dhaka city having its factory at Dhaka Export
Processing Zone, Savar, Dhaka
BUSINESS
The subject is engaged in the business of dyeing, finishing and printing of fabrics.
PRODUCTION POSITION
Yearly Production Capacity-------------------35 million yards
Last year production------------------------- 34 million yards
MAJOR CLIENTS
Local Exporter ready-made garments industries
FABRICS & RAW
MATERIALS IMPORTED FROM
China
Pakistan
Local Sources
NAME OF GROUP
NIL
SISTER CONCERN
IL Kang Co. Limited, 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 Companies, Dhaka.
FINANCIAL INFORMATION
2005 2004 2003
Capital Invested Tk.60
million Tk.60 million Tk.60 million
Turnover Tk.295
million Tk.294.2 million Tk.294.6 million
Liability Tk.12.7
million Tk.12.2 million Tk.13.9 million
Fixed Assets Tk.100
million Tk.100 million Tk.99 million
CAPITAL STRUCTURE
Authorized Capital Tk.100 million
Paid up Capital Tk.500,000.00
Each Share value Tk.100.00 each
EXCHANGE RATE
GB Pound 1.00=Tk.138.0118
US Dollar 1.00=Tk. 70.4700
Europe Euro 1.00=Tk. 92.7535
Japanese Yen 1.00=Tk. 0.5992
Australian Dollar 1.00=Tk. 55.5718
COMMENTS
Subject is a private limited company engaged in the business
of dyeing and finishing and printing of fabrics. The company is fitted with the
latest machinery imported from China, Taiwan and Korea. The quality of their
jobs is good and it has got good demand in local export oriented ready-made
garments factories.
Directors are experienced and well conversant in their line of trade.
They are financially solvent, good at their business commitments.
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%)