MIRA
INFORM REPORT
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Report Date : |
29.12.2008 |
IDENTIFICATION DETAILS
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Name : |
M
A MATIN COTTON MILLS LIMITED |
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Registered Office : |
Zaman
Complex (3rd Floor), |
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Country : |
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Financials (as on) : |
2007 |
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Year of Establishment : |
2005 |
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Com. Reg. No.: |
C-4-R574 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Manufacturing
and Selling of Cotton 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 : |
No Complaints |
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Litigation : |
Clear |
COMPANY DETAILS
Name:* M A Matin Cotton Mills Limited
* The subject’s name is found out to be M A
Matin Cotton Mills Limited during our physical investigation.
Address:
Zaman
Complex (3rd Floor)
Sirajganj-6700
Country:
Tel
No: 880-721-63314
Fax
No: 880-751-62902
E-Mail: recement1@bttb.net.bd
Established: 2005
Incorporation
No: C-4-R574
Incorporation
Date: 2005
Legal Structure:
The subject is a private
limited company in corporate
With the Registrar of
Joint Stock Companies,
Business Type:
Manufacturer and Exporter
Status: Satisfactory
Payments: No complaints
have been heard regarding payments
from local suppliers or banks.
Litigation: NIL
LOCATIONS
Head
Office:
Zaman
Complex (3rd Floor)
Sirajganj-6700
Tel No: 880-721-63314
Fax No: 880-751-62902
E-Mail: recement1@bttb.net.bd
Branch: NIL
Factory: BSCIC Industrial Estate
Sialkole
Sirajganj
SHAREHOLDER’S AND DIRECTORS
Name: Mrs.
Hasina Matin
Designation: Chairman
Name: Mr.
M. A. Matin
Designation: Managing Director
Name: Mr.
Abdul Kalam Mohammad Musa
Designation: Director
BUSINESS DETAILS
Line
of Business: Manufacturers
and Exporters of Yarns
Terms of
1 Credit
Production
Capacity: 5040000
Pounds Per Year
Last Year Production: 5040000 Pounds
BANKERS
Name: Social
Investment Bank Ltd
Branch: Sirajganj
Branch
Address: Sirajgan
FINANCIAL INFORMATION
|
|
2007 |
2006 |
2005 |
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Capital
Investment |
Tk.31
million |
Tk.31
million |
Tk.31
million |
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Turnover |
Tk.330
million |
Tk.329.6million |
Tk.329
million |
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Liability |
NIL |
NIL |
NIL |
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Fixed
Assets |
Tk.55
million |
Tk.55
million |
Tk.55
million |
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 |
|
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: 650
Executives--------------------6
Junior
Executives-----------8
Textile
Engineers-----------4
Junior Textile Engineers--3
Quality
Control------------20
Supervisory Staffs-
------28
Support Staffs-
-------------9
General
Staffs-------------15
Technicians-
----------------8
Workers-------------------549
Office
Area: 3200
sq.ft (own)
Factory
Area: 41,000
sq. ft (own)
Warehouse
Area: 5,600
sq.ft.(own)
Raw
Materials From: 1
1
Main Clients: 1 Export Oriented Ready-Made
garments Industries
Member: 1
Name
of the Group: NIL
Subsidiaries: NIL
COMMENTS
The subject is a private limited company engaged in
manufacturing and selling of cotton yarns. The qualities of their products are very
good and it has got good demand in the local export oriented ready-made garment
industries.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.47.89 |
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|
1 |
Rs.70.84 |
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Euro |
1 |
Rs.67.37 |
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%)