MIRA INFORM REPORT

 

 

Report Date :

16.06.2008

 

IDENTIFICATION DETAILS

 

Name :

UNITED FASHION TROUSERS LIMITED

 

 

Registered Office :

Chayadana, P.O. National University, District: Gazipur

 

 

Country :

Bangladesh

 

 

Financials (as on) :

2007

 

 

Date of Incorporation :

April, 1996

 

 

Com. Reg. No.:

C-30519

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturing and Exporting of Ready-Made Garments.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

COMPANY DETAILS

 

Name:                                       United Fashion Trousers Limited

 

Address:                                   Chayadana,

P.O. National University,

                                                District: Gazipur,

 

Country:                                    Bangladesh      

 

Tel No :                                     880-2-9291397, 980-2-9291398

 

Fax No :                                    880-2-9291458

 

E-Mail:                                      ewindpk@bdmail.net

                                               

Established:                              April, 1996

 

Incorporation No:                        C-30519

 

Incorporation Date:                     9th April, 1996

 

Legal Structure:                         The subject is a Private Limited Company that was 

            Incorporated in the Registrar of Joint Stock of 

            Companies, Dhaka.

 

Business Type:                          Manufacturer & Exporter

 

Status:                                      Satisfactory

 

Payments:                                No complaints have been heard regarding payments 

                                                from local suppliers or banks.

 

Litigation:                                  NIL

 

 

LOCATIONS

 

Head Office:                              186, Tejgaon Industrial Area
Dhaka - 1208

                                   

Tel No:                                     880-2-8824083, 8812178,9898111

           

Fax No:                                    880-2-8823910

 

E-Mail:                                     mail@eastwestindpark.com

                                               

Branch:                                    NIL

 

Factory:                                    Chayadana,

P.O. National University,

                                                District: Gazipur,

 

Warehouse:                               Chayadana,

P.O. National University,

                                                District: Gazipur,

 

 

DIRECTORS & SHAREHOLDERS

 

Name:                                       Mr.Harunur-Ar-Rashid

Designation:                             Chairman & Managing Director

 

Name:                                       Mrs.Tahmina Salim

Designation:                             Director

 

Name:                                       Mr.Mamun-Ar-Rashid

Designation:                              Director

 

Name:                                       Ms.Rumana Rashid

Designation:                              Director

 

Name :                                      Mr.Tanvir Z.Rashid

Designation:                              Director

 

Name:                                       Mrs.Nargis Rashid

Designation:                              Director

 

 

BUSINESS DETAILS

 

Line of Business:             Manufacturer & Exporter

 

Items Dealing In:            Ready-made Garments

 

 

Terms of Sale:               Against L/C

 

Production Capacity:      130,000 dozens per year

 

Last Year Production:     130,000 dozens

 

 

 BANKERS    

 

Name:                           United Commercial Limited

Branch:                         Mohakhali Branch

 

Address:                       Mohakhali,

Dhaka  

 

Name:                           National Bank Limited

Branch:                         Banani Branch,

 

Address:                       Banani,

                                    Dhaka                          

 

The company performs most of the business transactions with the above mentioned bank. No more details were provided.

 

 

FINANCIAL INFORMATION

 

 

2007

2006

2005

Capital Invested

Tk.22 million

Tk.22 million

Tk.22 million

Turnover

Tk.215 million

Tk.214.2 million

Tk.212.2 million

Liability

Tk.4 million

Tk.5.2 million

Tk.6.5 million

Fixed Assets

Tk.50 million

Tk.50 million

Tk.50 million

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk.20 million

Paid Up Capital

:

Tk.100,000.00

Each Share Value

:

Tk.100.00

 

 

          EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

Great Britain Pound

1

137.1626

U.S Dollar

1

  69.4000

European Euro

1

108.8231

Japanese Yen

1

    0.6729

Australian Dollar

1

   65.7102

 

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:        455

Executives-------------------3   

Junior Executives--------- 5                                                          

Merchandisers--------------8        

                                                Quality Control------------ 20    

                                                Supervisory Staffs--------35   

                                              Support Staffs-----------------7      

                                                General Staffs-------------10    

                                                Technicians------------------6  

                                                Workers--------------------359 

 

Office Area:                             2,000 sq.ft (own)

 

Factory Area:                           25,000 sq.ft (own)

 

Warehouse Area:                     4,200  sq.ft.(own)

 

Range of Products:                  1 Trouser (Men’s & Boy’s)

                                                                                                                                               

Major Clients:                          1 Tesco--------U.K

                                                1 Chums-------U.K

                                                1 Cintas--------U.K

                                                1 Little Wood--U.K

                                                1 George-------U.K

                                                1 Wal-Mart-----U.K

                                               

Fabrics & Accessories: 1  Hong Kong

                                                1  China

                                                1  Thailand

                                                1  Local Sources

1  Pakistan

1  India

 

Name of the Group:                 East West Group

 

Subsidiaries:                            1 East West Industrial Park Limited,

                                                1 Rumana Fashion Limited

                                                1 East West Dress Pants Limited

                                                1 East West Jute & Craft Limited

                                                1 Fashion Suit & Trousers Limited

                                                1 Fashion Shirts & Trousers Limited

                                                1 East West Suiting Mills Limited

                                                1 East West Fashion Garments Limited

                                                1 Fashion Trousers Limited

 

                                               

Member:                                  1 Bangladesh Garments Manufacturers & Exporters,

                                                   Association, Dhaka

                                                1 Dhaka Chamber of Commerce & Industries, Dhaka

 

 

COMMENTS

 

The subject is a family owned private limited company who is engaged in manufacturing and exporting of ready-made garments.

 

The directors are well conversant in their line of trade and they are also experienced businessman.

 

The company is good for normal business engagements.

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions