MIRA
INFORM REPORT
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Report Date : |
23.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
Givensee Spinning Mills Ltd |
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Registered Office : |
Bishia Kuri Bari, Monipur, Gazipur |
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Country : |
Bangladesh |
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Date of Incorporation : |
13th September,1994 |
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Com. Reg. No.: |
C-26622 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in spinning of yarns. |
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
Givensee Spinning Mills Ltd
Address
Bishia Kuri Bari,
Monipur,
Gazipur
Bangladesh
Head Office
House No.6,
Road No.13,
Sector-3,
Uttara Model Town,
Uttara,
Dhaka.
Telephone :
880-2-8932801,8932802
Fax :
880-2-8932816,8960347
E-Mail : givensee@siriousbb.com
info@givensee.com
SUMMARY
Established :
September,1994
Incorporation No. :
C-26622
Incorporation Dated :
13th September,1994
Managing Director & CEO :
Mr. Khatib Abdul Zahcef
Employees
285
Executives- 3
Junior Executives- 4
Textile Engineers--- 4
Jr. Textile Engineers- 2
Junior Engineers- 2
Supervisory Staffs- 10
Support Staffs- 2
General Staffs- 8
Workers- 250
BANK
Islami Bank Bangladesh Limited,
Main Branch,
Motijheel Commercial Area,
Dhaka.
FACTORY
Bishia Kuri Bari,
Monipur,
Gazipur
BRANCH
NIL
OFFICE AREA
1,700 sq.ft. (Rented)
FACTORY AREA
28,600 sq.ft (own)
WAREHOUSE AREA
4,200 sq.ft.(rented)
DIRECTORS &
SHAREHOLDERS
Mr. Khatib Abdul Zahcef - Chairman & Managing Director
Mr. Mohammad Zaheed
Mrs. Masuma Begum
HISTORY
Subject was established in September, 1994 by Mr. Khatib Abdul Zahcef and other directors in Dhaka city having its factory at Bishia Kuri Bari, Monipur, district.Gazipur,
BUSINESS
The company is engaged in spinning
of yarns.
RANGE OF PRODUCTS
100% cotton, 30, 22,24, 26,40, 62/1
PRODUCTION CAPACITY
Yearly Production Capacity----45,38,560 kgs
Last Year production----------42,85,412 kgs
MAJOR CLIENTS
Local Export Oriented Composite Textile Mills.
TERM OF SALES
Cash
Credit
RAW MATERIAL FROM
Uzbekistan
Russia
India
Pakistan
Egypt
NAME OF GROUP
Givensee Group
SISTER CONCERN
Zaheen Textile limited, Dhaka ,
G.N.Cotton Spinning Mills Limited, Dhaka
Masuma Textile 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 of Companies Dhaka.
FINANCIAL
INFORMATION
2005 2004 2003
Capital Invested Tk.56 million Tk.56 million Tk.56
million
Turnover Tk.399
million Tk.398.4 million Tk.398.7 million
Liability Tk.31
million Tk.31.5 million Tk.32.2 million
Fixed Assets Tk.87
million Tk.87 million Tk.86 million
CAPITAL STRUCTURE
Authorized Capital Tk.50
million
Paid up Capital Tk.200,000.00
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 spinning yarns for local
export oriented composite textile mills. The company’s factory is fitted with
the latest machinery and the quality of their products is very good.
Directors are experienced businessmen and have good reputation in the
local market. They are financially solvent and good at his business
commitments, as reported.
The company can be considered normal for business dealings at usual
trade terms and conditions.
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%)