MIRA INFORM REPORT

 

 

Report Date :

03.03.2008

 

 

IDENTIFICATION DETAILS

 

Name :

AMEX LIMITED

 

 

Registered Office :

Plot No.171, Block-E, Avenue-1, Section-11, Mirpur, Dhaka

 

 

Country :

Bangladesh

 

 

Financials (as on) :

2007

 

 

Date of Incorporation :

06.10.1998

 

 

Com. Reg. No.:

C-36496

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturers Exporters 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:                                                   Amex Limited

 

Address:                                   Plot No.171,

                                                Block-E,

                                                Avenue-1,

                                                Section-11,

                                                Mirpur,

                                                Dhaka

 

Country:                                    Bangladesh      

 

Tel. No. :                                   880-2-8859840-2, 809673,

 

Fax No. :                                   880-2-9893175, 9000244,

 

E-Mail:                                      info@standard-group.com
                                 

Established :                             October, 1998

 

Incorporation No. :                      C-36496

 

Incorporation Date:                     6th October, 1998

 

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:                             

                                                Civil Enginering Bhaban,

                                                69,Mohakhali Commercial Area,

Dhaka-1212,

Bangladesh

           

Tel. No. :                                  880-2-8859840-2, 809673,          

 

Fax No. :                                  880-2-9893175, 9000244,

 

E-Mail:                                      nfo@standard-group.com  
                                 

Branch:                                    NIL

 

Factory:                                    Plot No.171,

                                                Block-E,

                                                Avenue-1,

                                                Section-11,

                                                Mirpur,

                                                Dhaka

 

 

SHAREHOLDER’S AND DIRECTORS

 

Name:                                       Mrs.Mahmuda Begum

Designation:                             Chairperson

 

Name:                                       Engg.Mosarraf Hossain

Designation:                              Managing Director

 

Name:                                       Mr.Hasnat Mosarraf

Designation:                              Director

 

Name:                                       Mr.Tofazzal Ali

Designation:                              Director

 

 

BUSINESS DETAILS

 

Line of Business:                       Manufacturers Exporters

 

Items Dealing In:                        Ready-Made Garments

 

Terms of Sale:                           1 Against L/C

 

                                               

BANKERS

 

Name:                                       Standard Chartered Bank

Branch:                                     Dilkusha Branch

 

Address:                                   Dilkusha Commercial Area,

Dhaka

 

Name:                                       United Commercial Bank Ltd

Branch:                                     Mohakhali Branch,

 

Address:                                   Mohakhali Commercial Area,

                                                Dhaka

 

 

 

 

 

 

 

 

 

FINANCIAL INFORMATION

 

 

 

2007

 

2006

 

2005

 

Capital Investment

Tk.35 million

Tk.35 million

Tk.35 million

Turnover

Tk.670 million

Tk.677.8 million

Tk.6677 million

Liability

Tk.12 million

Tk.13 million

Tk.15 million

Fixed Assets

Tk.80 million

Tk. 80 million

Tk.80 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk.50 million

Paid Up Capital

:

Tk.300,000.00

Each Share Value

:

Tk.100.00

 

 

EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

GB Pound

1

143.7238

U.S Dollar

1

  69.4023

European Euro

1

101.3730

Japanese Yen

1

   0.6176

Australian Dollar

1

 63.2055

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:                     4,043

Executives------------------7 

Junior Executives---------10

Merchandisers------------15

Quality Control------------75

Supervisory Staffs- -----120

Support Staffs- -----------25                                                          

General Staffs-------------20

Technicians- --------------12

Workers----------------3,759 

 

 

Range of Products:                    1 Pants (Ladies & Men’s)

1 Shorts

1 Children wear

 

Yearly Production Position:         370,000 dozens

 

Last Year Production:                 368,000 dozens
 

Office Area:                               2,800 sq.ft (rented)

 

Factory Area:                            75,000 (rented)

 

Warehouse Area:                       4,700 sq.ft.(rented)

 

Fabrics Accessories From          :1  China

1        Hong Kong

1        Local Sources

1        Thailand

1        Pakistan

1        India

 

Main Clients:                             1 Wal-Mart----USA
1 J.C. Penny---USA
1 Judge--------USA

                                                1 Miles---------USA

                                                1 H & M-------Swedish

                                                1 Gembauc---USA

                                               

Member:                                   1 Bangladesh Garments Manufacturers & Exporters

                                                   Association, Dhaka

                                                1 Chittagong Chamber of Commerce & Industries,

                                                    Dhaka

                                   

Name of the Group:                    Standard Group

 

Subsidiaries:                             1 Standard Fashion Limited,

                                                1 Standard Garment Limited,

                                                1 Standard Stitches Limited,

                                                1 Standard Trading Co Ltd,

                                                1 Kazipur Fashion limited,

                                                1 Tulagoan Fashion Limited,

                                                1 Standard Group Limited,                                

 

 

COMMENTS

 

The subject is a private limited company engaged in manufacturing and exporting of ready-made garments to overseas countries. The qualities of their products are good and full round the year.

 

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

 

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