MIRA
INFORM REPORT
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Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
EXPERIENCE CLOTHING CO LIMITED |
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Registered Office : |
Plot No.72, Dhaka Export Processing Zone, Ganakbari,
Savar, Dhaka |
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Country : |
Bangladesh |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
October 1995 |
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Com. Reg. No.: |
C-29436 |
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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 : |
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 : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Experience
Clothing Co Limited
Address: Plot No.72,
Dhaka
Export Processing Zone,
Ganakbari,
Savar,
Dhaka,
Country: Bangladesh
Tel No: 880-2-7701101-3
Fax No: 880-2—7701104
E-Mail: naeem@experience-bd.com
maqsood@experience-bd.com
Established: October 1995
Incorporation
No: C-29436
Incorporation
Date: 5th October 1995
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: Plot No.72,
Dhaka
Export Processing Zone,
Ganakbari,
Savar,
Dhaka,
Tel No : 880-2-7701101-3
Fax No : 880-2—7701104
E-Mail: naeem@experience-bd.com
maqsood@experience-bd.com
Branch: NIL
Factory: Plot No.72,
Dhaka
Export Processing Zone,
Ganakbari,
Savar,
Dhaka,
Warehouse : Plot No.72,
Dhaka
Export Processing Zone,
Ganakbari,
Savar,
Dhaka,
SHAREHOLDER’S AND DIRECTORS
Name: Mr.Maqsood Ahmed
Designation: Chairman &
Managing Director
Name: Mr.Micheal Maqsood
Designation: Director
Name: Mr.Haroon Maqsood
Designation:
Director
BUSINESS DETAILS
Line of Business:
Manufacturers
Exporters
Items Dealing In: eady-Made Garments
Terms of Sale: 1 Against
L/C
BANKERS
Name: Standard Chartered
Bank
Branch: Main Branch
Address: Dilkusha Commercial Area,
Dhaka,
Name: Uttara Bank
Limited
Branch: DEPZ Branch,
Address: Dhaka Export
Processing Zone,
Dhaka
Name: HSBC,
Branch: Anchor Tower,
Address: Sonargoan Road,
Dhaka,
FINANCIAL INFORMATION
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2007 |
2006 |
2005 |
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Capital Investment |
Tk.24 million |
Tk.24 million |
Tk.24 million |
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Turnover |
Tk.253 million |
Tk.252.2 million |
Tk.249 million |
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Liability |
Tk.7.8 million |
Tk.9 million |
Tk.9.9 million |
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Fixed Assets |
Tk.46 million |
Tk.46 million |
Tk.45 million |
Source: Mr.Haroon Maqsood
/ Director
CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.100 million |
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Paid Up Capital |
: |
Tk.2 million |
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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: 2,091
Executives------------------ 6
Junior Executives---------- 9
Merchandisers-------------10
Quality Control-------------58
Supervisory Staffs- -------88
Support Staffs- -----------12
General Staffs-------------15
Technicians- --------------10
Workers----------------1,883
Range of Products : 1 Jackets
1 Blouses
1 Trousers
1 Dresses
Office Area: 1,800 sq.ft
(rented)
Factory Area: 40,000 (rented)
Warehouse Area: 4,200 sq.ft.(rented)
Fabrics Accessories From :1
China
1 Hong Kong
1 Local Sources
1 Thailand
1 Pakistan
1 India
Main Clients: 1 MWW------------Canada
1 Western
Stores-UK
1
Wal-Mart--------USA
1 Etam------------UK
Member: 1 Bangladesh Garments Manufacturers & Exporters
Association, Dhaka
1 Dhaka Chamber of Commerce &
Industries,
Dhaka
Name of the Group: NIL
Subsidiaries: NIL
COMMENTS
The subject is a private limited company engaged in manufacturing
and exporting of ready-made garments to overseas countries.
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.42.30 |
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UK Pound |
1 |
Rs.84.03 |
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Euro |
1 |
Rs.66.42 |
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%)