MIRA
INFORM REPORT
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Report Date : |
08.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
HONEYWELL GARMENTS LIMITED |
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Registered Office : |
28/1, North Kafrul (4th & 5th
Floor), Dhaka Cantonment, Dhaka-1206 |
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Country : |
Bangladesh |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
29.05.1990 |
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Com. Reg. No.: |
C-19642 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and Exporting of Ready-Made Garments 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 : |
No Complaints |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Honeywell Garments Limited
Address: 28/1, North
Kafrul (4th & 5th Floor),
Dhaka Cantonment,
Dhaka-1206,
Country: Bangladesh
Tel No : 880-2-
9871358, 9871235,
Fax No. : 880-2-9871307,
E-Mail: honey@agni.com
Established: May,
1990
Incorporation No : C-19642
Incorporation Date: 29th May 1990
Legal Structure:
The subject is a private
limited company in corporate
With
the Registrar of Joint Stock Companies, Dhaka,
Business Type:
Manufacturers and
Exporters
Status: Satisfactory
Payments: No complaints
have been heard regarding payments
from local suppliers or banks.
Litigation: NIL
LOCATIONS
Head Office: 28/1,North Kafrul
(4th & 5th Floor),
Dhaka Cantonment,
Dhaka-1206,
Tel No : 880-2-9871358,
9871235,
Fax No : 880-2-9871307,
E-Mail: honey@agni.com
Branch: NIL
Factory: 28/1, North Kafrul (4th
& 5th Floor),
Dhaka Cantonment,
Dhaka-1206,
Warehouse: 28/1, North
Kafrul (4th & 5th Floor),
Dhaka Cantonment,
Dhaka-1206,
SHAREHOLDER’S AND DIRECTORS
Name: Mr.Habibur
Rahman
Designation: Chairman & Managing
Director
Name: Mr.Mizanur
Rahman
Designation: Director
BUSINESS DETAILS
Line of Business: Manufacturers
and Exporters
Items Dealing In: Ready-Made
Garments
Terms of Sale: 1 Against
L/C,
BANKERS
Name: Uttara
Bank Limited
Branch: oreign
Exchane Branch
Address: Dilkusha
Commercial Area,
Dhaka
FINANCIAL INFORMATION
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2007 |
2006 |
2005 |
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Capital Investment |
Tk.19 million |
Tk.19 million |
Tk.19 million |
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Turnover |
Tk.155 million |
Tk.154.2 million |
Tk.154 million |
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Liability |
Tk.3 million |
Tk.3.6 million |
Tk.4.7 million |
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Fixed Assets |
Tk.24 million |
Tk.24 million |
Tk.24 million |
CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.20 million |
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Paid Up Capital |
: |
Tk.100,000.00 |
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Each Share Value |
: |
Tk.100.00 |
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CURRENCY |
UNIT |
BANGLADESHI TAKA |
|
GB Pound |
1 |
143.7238 |
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U.S Dollar |
1 |
69.4023 |
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European Euro |
1 |
101.3730 |
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Japanese Yen |
1 |
0.6176 |
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Australian Dollar |
1 |
63.2055 |
GENERAL INFORMATION
No. of Employees: 372
Executives--------------------3
Junior Executives-----------4
Merchandisers---------------6
Quality Control-------------18
Supervisory Staffs---------29
Support Staffs----------------5
General Staffs---------------10
Technicians--------------------5
Workers----------------------292
Range of
Products: 1 Trousers
1 Shorts
1 Blouses
1 Pajama Sets
Yearly
Production Capacity: 70,000 dozens
Last Year
Production: 70,000 dozens
Office Area: 950
sq.ft (rented)
Factory Area: 11,300
sq.ft (rented)
Warehouse Area: 2,500 sq.ft.(rented)
Main Clients: 1 Wal -Mart-----USA
1 TAG-----------USA
Fabrics
& Accessories: 1 Hong Kong
1 China
1 Thailand
1 Local Sources
1 Pakistan
Name of the Group: NIL
Subsidiaries: 1 Habib Box & Packaging Ind. Ltd,
Members : 1 Bangladesh Garments Manufacturers
& Exporters
Association, Dhaka
1 Dhaka Chamber of Commerce &
Industries, Dhaka
COMMENTS
The subject is a private limited company engaged in manufacturing
and exporting of ready-made garments to overseas countries. The qualities of
their products are good and their overseas clients are satisfied with the
quality they maintain.
The directors are well conversant in their line of trade and
they are also experienced businessman. They are financially solvent and good at
his business commitments, it is reported.
The company is good for normal business engagements.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.22 |
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UK Pound |
1 |
Rs.75.03 |
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Euro |
1 |
Rs.63.14 |
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%)