MIRA
INFORM REPORT
|
Report Date : |
07.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
SEA BLUE TEXTILE LIMITED |
|
|
|
|
Registered Office : |
Plot No. 8-11, Sector - 6, Export Processing Zone, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
21st December, 2003 |
|
|
|
|
Legal Form : |
CH-4900 |
|
|
|
|
Line of Business : |
Knitting of Fabrics Dyeing of Fabrics Finishing of Fabrics Printing of Fabrics Embroidery Manufacturing & Exporting of Ready-made Garments |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Report on
SEA BLUE
TEXTILE LIMITED
Address
Plot No.8-11,
Sector - 6,
Export Processing Zone,
Telephones : 880-31-740116,740086,801490-1
Fax : 880-31-740130
E-mail :
office@seatex.net
SUMMARY
Established :
December,2003
Incorporation
No. :
CH-4900
Incorporation
Dated :
21st December,2003
Managing
Director & CEO :
Mr. Javed Kaiser Ally
Employees
1599
Executives- 5
Junior
Executives- 12
Textile
Engineers- 4
Merchandisers- 7
Quality
Control- 18
Supervisory
Staffs- 45
Support
Staffs- 8
General Staffs- 22
Technicians- 7
Workers- 1471
BANK
Eastern Bank
Limited
Agrabad
Commercial Area,
One Bank
Limited
Agrabad
Commercial Area,
BRANCH
NIL
FACTORY
Plot No.8-11,
Sector-6,
Export Processing Zone,
OFFICE AREA
3,000 sq. ft.(rented)
FACTORY AREA
172,000 sq.
ft (Leased)
WAREHOUSE AREA
6,000 sq. ft
(rented)
DIRECTORS
Mr. Sayeed
Kaiser Ally - Chairman
Mr. Javed Kaiser
Ally -Managing Director
Mrs. Amina
Kaiser Ally
Mrs. Muneeza
Ally
HISTORY
The subject was established in December, 2003 by Mr. Syeed
Kaiser Ally and other directors in
BUSINESS
Knitting of
Fabrics
Dyeing of
Fabrics
Finishing of
Fabrics
Printing of
Fabrics
Embroidery
Manufacturing
& Exporting of Ready-made Garments
T-Shirts
(Ladies & Gents)
Polo-Shirts
(Ladies & Gent)
PRODUCTION POSITION
Fabrics-------------------13,500
Kgs/day
Ready-made
Garments- 48,000 pcs/day
MAJOR CLIENTS
EMP ------
Primark- ------
Fashional Option
-
TRM----------
IPG---------------
FABRIC &
ACCESSORIES FROM
Local
Sources
TERMS OF SALES
Against L/C
NAME OF GROUP
NIL
SISTER CONCERN
Sea Tex
Limited,
BLB
Excellence Limited,
Sea Tex
Apparels Limited,
MEMBER
LEGAL FORM
The subject is a private limited company incorporated with
the Registrar of Joint Stock of Companies,
FINANCIAL
INFORMATION
2006 2005 2004
Capital
Invested Tk.50 million Tk.50
million Tk.50 million
Turnover
Tk.758 million Tk.757.9 million Tk.758.6 million
Liability Tk.26.2 million Tk.27.5 million Tk.27.8 million
Fixed Assets
Tk.89 million Tk.89 million Tk.89 million
CAPITAL STRUCTURE
Authorized
Capital Tk.100
million
Paid up
Capital Tk.5
million
Each share
value Tk.100.00 each
EXCHANGE RATE
GB
Pound 1.00=Tk.130.9764
US Dollar 1.00=Tk.
69.8000
Japanese
Yen 1.00=Tk. 0.6098
Australian
Dollar 1.00=Tk.
53.3891
COMMENTS
The subject is a private limited company engaged
in the business of processing fabrics along with the manufacturing and
exporting of ready-made garments. The subject’s factory is fitted with the
latest machineries imported from abroad. The quality of their ready-made
garments are of finest quality and they are well reputed in
The directors are well conversant in their line
of trade. They are financially solvent and good at their business commitment,
it is reported.
The company is good for normal business engagements.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)