MIRA
INFORM REPORT
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Report Date : |
24.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AKIJ TEXTILE MILLS LIMITED |
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Registered Office : |
Akij
Chamber (3rd Floor), 73,Dilkusha Commercial Area, Dhaka-1000, |
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Country : |
Bangladesh |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
26.02.1995 |
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Com. Reg. No.: |
C-27926 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers
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 : |
No complaints |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Akij Textile Mills Limited
Address: Akij Chamber (3rd Floor),
73,Dilkusha
Commercial Area,
Dhaka-1000,
Country: Bangladesh
Tel No: 880-2-9563008-9, 9667023-24
Fax No: 880-2-9563007, 9564519
E-Mail: amin@citechco.net
Established: February 1995
Incorporation
No: C-27926
Incorporation
Date: 26th February 1995
Legal Structure: The subject is a
private limited company in corporate
With the
Registrar of Joint Stock Companies,
Dhaka,
Business Type: Manufacturers and
Selling of Yarns
Status: Satisfactory
Payments: No complaints have
been heard regarding payments
from local
suppliers or banks.
Litigation: NIL
LOCATIONS
Head Office:
Akij
Chamber (3rd Floor),
73,Dilkusha
Commercial Area,
Dhaka-1000,
Tel No: 880-2-9563008-9, 9667023-24
Fax No:
880-2-9563007,
9564519
E-Mail: amin@citechco.net
Branch: NIL
Factory: Golora,
Taraghat,
District:
Manikganj
SHAREHOLDER’S AND DIRECTORS
Name: Mr.Sheikh Akij
Uddin
Designation: Chairman &
Managing Director
Name: Mr.Sheikh Zamil
Uddin
Designation: Director
BUSINESS DETAILS
Line of Business:
Manufacturers and
Selling of Yarns
Terms of Sale: 1 Cash
1 Credit
BANKERS
Name: Janata Bank
Limited
Branch: Local Office
Branch
Address: Motijheel
Commercial Area,
Dhaka
FINANCIAL INFORMATION
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2007 |
2006 |
2005 |
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Capital Investment |
Tk.85 million |
Tk.85 million |
Tk.85 million |
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Turnover |
Tk.530.2 million |
Tk.527 million |
Tk.526.3 million |
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Liability |
Tk.32 million |
Tk.36.2 million |
Tk.36.6 million |
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Fixed Assets |
Tk.130 million |
Tk. 130 million |
Tk.130 million |
CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.500 million |
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Paid Up Capital |
: |
Tk.300,000.00 |
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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: 1,813
Executives-----------------5
Junior Executives---------7
Textile Engineers---------4
Junior Textile Engineers--5
Quality Control--------- -20
Supervisory Staffs- ---- 28
Support Staffs- -----------9
General Staffs-----------10
Technicians- --------------8
Workers---------------1,717
Range of Products: 1 Yarns
Yearly Production Position: 6,600
m/tons
Last Year Production: 6,600 m/tons
Office Area: 1,100 sq.ft (own)
Factory Area: 3.8 acres lands (own)
Warehouse Area: 4,600 sq.ft.(own)
Raw Materials From : 1 China
1 Uzbekistan
1 Kazakhstan
1 Pakistan
1 India
Main Clients: 1 Export Oriented Ready-Made garments
Industries
Member: 1 Bangladesh Textile Mills Association, Dhaka
1 Dhaka Chamber of Commerce &
Industries,
Dhaka
Name of the Group: Akij Group
Subsidiaries: 1 Akij Biri
Factory Limited,
1 Akij Cement Company
Limited,
1 Akij Jute Mills
Limited,
1 Akij Housing
Ltd,
1 Akij Match
Factory limited,
1 Sonar Bangla
Cement Factory Limited,
1 Akij Particle
& Hard Board Mills Limited,
1 Akij
Pharmaceuticals Limited
1 Amin Uddin
Enterprise Limited
1 Leaf Processing
Plant
1 Dhaka Tobacco
Company Limited
1 Akij Transport
Company Limited
1 Navaron Printing
& Packaging Limited
1 Dhaka Industries
Limited
1 SAF Industries
Limited
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 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.
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%)