MIRA INFORM REPORT

 

 

Report Date :

27.10.2007

 

IDENTIFICATION DETAILS

 

Name :

J.K. Knit Composite Limited

 

 

Registered Office :

South Darlapur, Savar-1340, Dhaka

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

14th February, 2000

 

 

Com. Reg. No.:

C-39640

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Engaged in manufacturing and exporting of knit fabrics and 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

 

J.K. Knit Composite Limited

 

 

Address

 

South Darlapur,

Savar-1340,

Dhaka,

Bangladesh.

Telephones                    : 880-2-7710034, 7710035

Fax                               : 880-2-7710032

E-mail                           : jkgroup@aitlbd.net

                                      nazrul@jkgroupbd.com

 

 

Corporate Office    

 

Metropolitan Scout Bhaban (2nd Floor),

54, Inner Circular Road,

Dhaka,

Tel. 880-2-8315551, 9354156

Fax. 880-2-8319326

 

                                   

SUMMARY

 

Established                                           : February, 2000

Incorporation No.                                    : C-39640

Incorporation Dated                                : 14th February, 2000

Managing Director & CEO                       : Mr. Jahangir Alam Khan

 

 

Employees       

 

1,198

 

Executives-                4

Junior Executives-     5

Merchandisers-       10

Quality Control-       35

Supervisory Staffs-  55

Support Staffs-        12

General Staffs-        15

Technicians-            10

Workers-             1,052

                                                                                     

 

 

 

 

                                   

BANK

 

Sonali Bank

Bangabandhu Avenue Branch,

Ramna,

Dhaka

 

 

FACTORY

 

South Darlapur,

Savar-1340,

Dhaka,

 

 

WAREHOUSE AREA

 

South Darlapur,

Savar-1340,

Dhaka,

 

 

BRANCH

 

NIL

 

 

OFFICE AREA

 

1,800  sq. ft. (rented)

                       

           

FACTORY AREA

 

55,000  sq. ft (rented)

 

 

WAREHOUSE AREA

 

3,800 sq. ft. (rented)

 

 

DIRECTORS & SHAREHOLDERS

 

Mrs. Rokshana Begum - Chairperson

Mr. Jahangir Alam Khan - Managing Director

 

                                               

HISTORY

 

Subject was established in February, 2000 by Mr. Jahangir Alam Khan and the other director in Dhaka city having its factory at Darlapur, Savar Dhaka.

 

 

BUSINESS

 

The company is engaged in manufacturing and exporting of knit fabrics and garments.

 

 

RANGE OF PRODUCTS

 

T-Shirt

Polo-Shirt

Sportswear’s

Pants

                                   

 

PRODUCTION POSITION

 

Production Capacity------------ 1 million dozens

 

Last year Production------------9, 99,000 dozens

 

 

MAJOR CLIENTS

 

Fruit Zoom----UK

Ideas Inaction-USA

Son------------USA

 

 

FABRICS & ACCESSORIES FROM

 

Hong Kong

China

Thailand

Local Sources

Malaysia

Pakistan

India

 

 

NAME OF GROUP

 

J.K. Group

 

NAME OF THE SISTER CONCERNS

 

J.K.Fabrics Limited,

J.K. Spinning Mills Limited,

Tanima Knit Composite Limited,

J.K.Cotton Limited,

 

 

MEMBER

 

Bangladesh Garments Manufacturer & Exporters Association, Dhaka.

Dhaka Chamber of Commerce & Industries, Dhaka.

 

 

LEGAL FORM

 

Subject is a Private Limited company incorporated with the Registrar of Joint Stock of Companies Dhaka.

 

 

FINANCIAL INFORMATION

 

Capital Invested             Tk.23 million                  Tk.23 million                  Tk.23 million

 

Turnover                        Tk.495 million                Tk.494 million                Tk.493.8 million

 

Liability                         Tk.10 million                  Tk.10.7 million               Tk.11 million

 

Fixed Assets                 Tk.35 million                  Tk.35 million                  Tk.35 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital          Tk.20 million

 

Paid Up Capital              Tk.150,000.00

 

Each Share value           Tk.100.00

             

 

EXCHANGE RATE

 

GB Pound                     1.00=Tk.140.1706

US Dollar                      1.00=Tk. 69.4850

Europe Euro                  1.00=Tk. 94.9041

Japanese Yen                1.00=Tk.  0.5712

Australian Dollar            1.00=Tk. 59.7270

 

 

COMMENTS

 

Subject is a family owned private limited company engaged in manufacturing of knit fabrics. Qualities of their products are good and they are well known in the overseas garments markets.

 

Directors are experienced businessman of good reputation. They are financially and good their business commitments, as 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.

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions