MIRA
INFORM REPORT
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Report Date : |
29.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUNMAN KNIT FABRICS LIMITED |
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Registered Office : |
CDA Annex
Building (2nd Floor), Shahid Sohwardi Road, Chittagong |
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Country : |
Bangladesh |
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Date of Incorporation : |
05.04.2004 |
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Com. Reg. No.: |
CH – 4947 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Dyeing and Finishing of Fabrics |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Yet to Commence Production |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Sunman Knit
Fabrics Limited
Address: CDA Annex Building (2nd Floor),
Shahid
Sohwardi Road,
Chittagong,
Country: Bangladesh
Tel. No. : 880-31-617307, 611033-4,
Fax No. : 880-31-610352,
E-Mail: sunman@spnetctg.com
Established : April, 2004
Commercial Production From : February, 2008
Incorporation No.
: CH-4947
Incorporation
Date: 5th April, 2004
Legal Structure: The subject is a
private limited company in corporate
With
the Registrar of Joint Stock Companies,
Chittagong,
Business Type: Dyeing and
Finishing of Fabrics
Status: Satisfactory
Payments: No complaints have
been heard regarding payments
from local
suppliers or banks.
Litigation: NIL
LOCATIONS
Head Office: CDA Annex Building (2nd Floor),
Shahid
Sohwardi Road,
Chittagong,
Tel. No. : 880-31-617307, 611033-4,
Fax No. : 880-31-610352,
E-Mail:
sunman@spnetctg.com
Branch: NIL
Factory: Kadam Rasul,
P.S.Sitakunda,
Chittagong,
Telephone : 880-31-2780475
SHAREHOLDER’S AND DIRECTORS
Name: Major (rtd) Abdul
Mannan
Designation: Chairman &
Managing Director
Name : Mr.M.Ayub
Designation : Director
Name : Dr.Muslimuddin
Designation : Director
BUSINESS DETAILS
Line of Business:
Dyeing and
Finishing of Fabrics
Items Dealing In: Dyeing and
Finishing
Terms of Sale: 1 Cash
1 Credit
BANKERS
Name: Pubali Bank
Limited
Branch: CDA Branch
Address: Kotwali,
Chittagong
FINANCIAL INFORMATION
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2007 |
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Capital Investment |
Tk.32 million |
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Turnover |
New Company |
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Liability |
Tk.8 million |
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Fixed Assets |
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.150,000.00 |
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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 |
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: 45
Executives--------------------4
Junior Executives-----------7
Engineers---------------------3
Junior Engineers------------4
Supervisory Staffs---------10
General Staffs--------------12
Technicians-------------------5
Range of Products : 1 Dyeing and Finishing of Fabrics
Yearly Production Capacity:
New Company
Last Year Production : New Company
Office Area: 1,400 sq.ft
(rented)
Factory Area: 24,500 sq.ft (rented)
Warehouse Area: 3,400 sq.ft.(rented)
Main
Clients: 1 Hundred percent oriented ready-made
garments
Name of the Group: Sunman group
Subsidiaries: 1 Sun Knit Textiles Limited,
1 Sun Care Apparels Limited,
1 Sunman Apparels Limited,
1 Sunman Sweaters Limited,
1 Sun Mark Jeans Limited,
1 Sun Crest Beverage Limited,
1 Sun Flower Garments Limited,
1 Helicopter Services Limited,
Members : 1 Bangladesh Garments Manufacturers & Exporters
Association, Chittagong
1 Dhaka Chamber of Commerce &
Industries, Chittagong
COMMENTS
The subject is a private limited company which is expected to
be engaged in dyeing and finishing of fabrics. The company is not ready yet and
their factory is still under construction and the subject’s machines are still
coming from foreign countries and are preparing to be installed. The company is
expected to go in commercial production within first quarter of this year.
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%)