MIRA
INFORM REPORT
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Report Date : |
08.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
STYLE CRAFT LTD |
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Registered Office : |
Chandona, Joydevpur, Gazipur, |
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Country : |
Bangladesh |
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Date of Incorporation : |
January, 1983 |
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Com. Reg. No.: |
C – 10472 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and exporting of ready-made garment |
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 : |
Regular |
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Litigation : |
Clear |
Report on
Style Craft Limited
Address
Chandona,
Joydevpur,
District : Gazipur,
Bangladesh
Telephones: 880-2-9262967, 9262981,
Fax: 880-2-8828577, 8810445,
E-mail : rabbany@stylecraftltd.com
Head Office
CWN-(A),
12,Kemal Ataturk Avenue,
Gulshan-2,
Dhaka-1212,
Tel.880-2-9883545, 8826538,
SUMMARY
Established : January, 1983
Incorporation No. : C-10472
Incorporation Dated : 25th January, 1983
Status : Satisfactory
Managing Director & CEO : Mr.Abudur Rahman
Payment : Regular
Litigation : NIL
Capital Invested : Tk.21 million
Sales : Tk.455 million
Employees : 1,590
Executives- 4
Junior Executive- 6
Merchandisers- 9
Quality Control- 35
Supervisory Staffs- 70
Support Staffs- 10
General Staffs- 15
Technicians- 9
Workers- 1,432
BANK
1 Prime Bank Limited
Kemal Ataturk Branch,
Gulshan,
Dhaka
BRANCH
NIL
FACTORY
Chandona,
Joydevpur,
District : Gazipur,
WAREHOUSE
Chandona,
Joydevpur,
District : Gazipur,
OFFICE AREA
1,900 sq.ft.(rented)
FACTORY AREA
70,400 sq.ft (rented)
WAREHOUSE AREA
3,300 sq.ft (rented)
DIRECTORS & SHAREHOLDERS
Mr.Abdur Rahamn
-Chairman & Managing Director
Mr.Omar Golam Rabbany
HISTORY
The subject was established in January, 1983 by Mr.Abul Mansur Ahmed and the other director in Dhaka city having it factory at Chandona, Joydevpur, district : Gazipur.
BUSINESS
The company is engaged in manufacturing and exporting of ready-made garment to overseas countries.
RANGE OF PRODUCTS
1 Fancy Shirts
1 T-Shirts
1 Polo-Shirts
1 Jackets
PRODUCTION POSITION
Yearly Production Capacity : 250,000 dozens
Last year Production : 250,000 dozens
MAJOR CLIENTS
1
Wal-Mart----USA
1 Sears--------USA
1 J.C.Penny—USA
FABRIC & ACCESSORIES FROM
1 China
1 Hong Kong
1 Local Sources
1 Thailand
1 Pakistan
1
India
TERMS OF SALES
1
Against L/C
NAME OF GROUP
NIL
SISTER CONCERN
NIL
MEMBER
1 Bangladesh Garments Manufacturers Association,
Dhaka.
1 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
2006 2005 2004
Capital Invested Tk.21 million Tk.20 million Tk.20 million
Turnover Tk.455 million Tk.454 million Tk.453.7 million
Liability Tk.6 million Tk.6.8 million Tk.7.5 million
Fixed Assets Tk.38 million Tk.38 million Tk.38 million
Source : Mr.Kamal Ahmed/ Manager
CAPITAL STRUCTURE
Authorized Capital Tk.20 million
Paid up Capital Tk.150, 000.00
Each share value Tk.100.00 each
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
The subject is a private limited company who is engaged in manufacturing and exporting of ready-made garments. The qualities of their products are very good and they are well known in overseas ready-made garment markets.
The directors are well conversant in their line of trade and they are also experienced businessman.
The company is good for normal business engagements.
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. |
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%)