MIRA
INFORM REPORT
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Report Date : |
27.09.2007 |
IDENTIFICATION DETAILS
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Name : |
RMM Fashion Wear Limited |
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Registered Office : |
Level-6, Suite -601, Dhaka-1000 |
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Country : |
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Date of Incorporation : |
26th July, 2004 |
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Com. Reg. No.: |
CH-5144 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged as buying agent for ready-made garment and leathers to
overseas countries. |
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
RMM
Fashion Wear Limited
Address
Level-6,
Suite -601,
113,
Dhaka-1000,
Telephones : 880-2-8313190, 8313392
Fax : 880-2-8313190
E-mail : info@rmmfashionwear.com
SUMMARY
Established : July, 2004
Incorporation
No. : CH-5144
Incorporation
Dated : 26th
July, 2004
Managing
Director & CEO : Mr. Salehin
Parvez
Employees
15
Executives- 2
Junior
Executive- 3
Merchandisers- 5
Quality
Control- 2
Supervisory
Staffs- 3
BANK
HSBC Bank Limited
Basic Bank
Limited
Shantinagar
Branch,
Prime Bank
Limited
Local
Office,
Motijheel
Commercial Area,
BRANCH
NIL
FACTORY
N/A
OFFICE AREA
1,200 sq.
ft. (rented)
FACTORY AREA
N/A
WAREHOUSE AREA
2,100 sq. ft
(rented)
DIRECTORS &
SHAREHOLDERS
Mr.
Mohiuddin Ahmed Mohin -Chairman
Mr. Salehin
Parvez - Managing Director
Mr.
Oniroddha Roy
HISTORY
The subject was established in July, 2004 by Mr. Salehin Parvez
and other directors in
BUSINESS
The company is engaged as buying agent for ready-made
garment and leathers to overseas countries.
ITEM DEALING IN
Leathers
Textiles
MAJOR CLIENT
Peports------Polland
TERMS OF SALES
Against L/C
NAME OF GROUP
RMM Group
SISTER CONCERNS
Tex Bay
Limited, Narayanganj
RMM
Industries Limited,
MEMBER
Dhaka
Chamber of Commerce & Industries,
LEGAL FORM
The subject is a private limited company incorporated with
the Registrar of Joint Stock of Companies Chittagong.
FINANCIAL
INFORMATION
2006 2005 2004
Capital
Invested Tk.4 million Tk.4
million Tk.4 million
Turnover
Tk.70 million Tk.68.6 million Tk.68 million
Liability NIL NIL NIL
Fixed Assets
Tk.10 million Tk.10 million Tk.9 million
CAPITAL STRUCTURE
Authorized
Capital Tk.5 million
Paid up
Capital Tk.100,
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
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 is
engaged as buying agent for ready-made garment and leathers to overseas
countries. The are well reputed among their clients and are well known in this
line of trade.
The directors are well conversant in their line of trade and
they are also experienced businessman. They are financially solvent and good
their business commitment, it reported.
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%)