MIRA
INFORM REPORT
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Report Date : |
20.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
YOUTH SPINNING MILLS LIMITED |
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Registered Office : |
Youth Tower, 822/2 Rokeya Sarani, Dhaka-1216 |
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Country : |
Bangladesh |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
15.02.2005 |
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Com. Reg. No.: |
C-6115 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and Selling of Yarns |
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 : |
Usually Correct |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Youth Spinning Mills Limited
Address: Youth Tower
822/2
Rokeya Sarani
Dhaka-1216
Country: Bangladesh
Tel No: 880-2-8052343,
8052417
Fax No: 880-2-8052351
E-Mail: billa@youthbd.com
enayet@youthbd.com
Web address: www.youthgroup.com
Established: 2005
Incorporation No: C-6115
Incorporation Date: 15/02/2005
Legal Structure:
The subject is a private
limited company in corporate
With
the Registrar of Joint Stock Companies,
Dhaka,
Business Type:
Manufacturers and Seller
Status: Satisfactory
Payments: No complaints have
been heard regarding payments
from local suppliers or banks.
Litigation: NIL
LOCATIONS
Head Office:
Youth
Tower
822/2,Rokeya
Sarani
Dhaka-1216
Country: Bangladesh
Tel No: 880-2-8052343,
8052417
Fax No: 880-2-8052351
E-Mail: billa@youthbd.com
enayet@youthbd.com
Branch: NIL
Factory: Gorail,Mirzapur,
Tangail
Warehouse: Gorail,Mirzapur,
Tangail
SHAREHOLDERS AND DIRECTORS
Name: Mr.
Abul Quashem Haider
Designation: Chairman
Name: Mr.
Montaseem Billa
Designation: Managing
director
Name: Mr. Razzakul Haider
Designation: Director
Name:
Mr. Feroz Alam
Designation: Director
BUSINESS DETAILS
Line of Business: Manufacturers
and Seller
Items Dealing in: Yarns
Terms of Sale: 1 Cash
1 Credit
Yearly
Production Position: 4.5m/ Kg
Last Year
Production: Ring-4.5m/Kg
Rotor-0.97m/Kg
BANKERS
Name: Islami
Bank (BD) Limited
Branch: Foreign
Exchange Branch
Address: Motijheel
Commercial Area,
Dhaka
FINANCIAL INFORMATION
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2007 |
2006 |
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Capital Investment |
Tk.32 million |
Tk.31.7 million |
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Turnover |
Tk.285 million |
Tk.285.2 million |
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Liability |
Tk.10 million |
Tk.10.6 million |
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Fixed Assets |
Tk 45 million |
Tk 45 million |
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CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.30 million |
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Paid Up Capital |
: |
Tk.100,000.00 |
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Each Share Value |
: |
Tk.100.00 |
EXCHANGE RATE
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CURRENCY |
UNIT |
BANGLADESHI TAKA |
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GB Pound |
1 |
137.1626 |
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U.S Dollar |
1 |
69.4000 |
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European Euro |
1 |
108.8231 |
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Japanese Yen |
1 |
0.6729 |
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Australian Dollar |
1 |
65.7102 |
GENERAL INFORMATION
No. of Employees: 700
Executives-------------------06
Junior Executives----------15
Textile Engineers------------5
Quality Control--------------15
Supervisory Staffs----------30
Support Staffs-
---------------5
General Staffs----------------15
Technicians---------------------5
Workers-----------------------604
Range of
Products: 1 Yarns
Office Area: 4,200 sq.ft (own)
Factory Area: 40,300 sq.ft (own)
Warehouse Area: 5,000 sq.ft. (own)
Major
Clients: 1 Local Export Oriented Garments Industries
Raw Materials
From: 1 Ukraine
1 Turkey
1 Kazakhstan
Name of
Group: Youth Group
Subsidiaries: 1 Unicom Textile Mills Ltd
1 Youth Garments Ltd
1 Comfit
Composite Knit Ltd
Member: 1 Bangladesh Textile Mills
Association, Dhaka
1 Dhaka Chamber of Commerce &
Industries,
Dhaka
COMMENTS
The subject is a private limited company engaged in
manufacturing and selling of yarns. The qualities of their products are very
good and it has got good demand in local export oriented ready-made garment
industries. The subject has a very modern factory equipped with the latest
machines imported from Germany, Switzerland, Japan, Italy & India.
The directors are well conversant in their line of trade and
they are also experienced businessman.
The company is good for normal business engagements.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
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%)