MIRA
INFORM REPORT
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Report Date : |
03.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
JEANS 2000 LIMITED |
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Registered Office : |
Plot No.17-19 (2nd Floor), Sector-5, Chittagong Export
Processing Zone, Chittagong |
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Country : |
Bangladesh |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
18.12.1996 |
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Com. Reg. No.: |
CH-2457 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers Exporters of Ready-Made Garments |
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: Jeans 2000 Limited
Address: Plot No.17-19
(2nd Floor),
Sector-5,
Chittagong
Export Processing Zone,
Chittagong
Country: Bangladesh
Tel. No. : 880-31-741006, 741007-8,
Fax No. : 880-31—741339, 740153,
E-Mail: asir@pacificjeans.com
Established: December,
1996
Incorporation No. : CH-2457
Incorporation Date: 18th December, 1996
Legal Structure:
The subject is a private
limited company in corporate
With
the Registrar of Joint Stock Companies, Chittagong,
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.17-19 (2nd
Floor),
Sector-5,
Chittagong
Export Processing Zone,
Chittagong
Tel. No. : 880-31-741006,
741007-8,
Fax No. : 880-31-741339, 740153,
E-Mail: nasir@pacificjeans.com
Branch: NIL
Factory: Plot No.17-19 (2nd
Floor),
Sector-5,
Chittagong
Export Processing Zone,
Chittagong
SHAREHOLDER’S AND DIRECTORS
Name: Mr.M.Nasiruddin
Designation: Chairman & Managing
Director
Name: Mrs.Habiba
Umme Begum
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: Agrabad
Branch
Address: Agrabad
Commercial Area,
Chittagong
Name: United
Commercial Bank Limited
Branch: Agrabad
Branch,
Address: Agrabad
Commercial Area,
Dhaka
FINANCIAL INFORMATION
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2007 |
2006 |
2005 |
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Capital Investment |
Tk.25 million |
Tk.25 million |
Tk.25 million |
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Turnover |
Tk.390 million |
Tk.388.4 million |
Tk.387 million |
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Liability |
Tk.6 million |
Tk.8.2 million |
Tk.9 million |
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Fixed Assets |
Tk.38 million |
Tk.38 million |
Tk.38 million |
CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.50 million |
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Paid Up Capital |
: |
Tk.100,000.00 |
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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: 1,385
Executives--------------------5
Junior Executives---------- 7
Merchandisers-------------12
Quality Control-------------48
Supervisory Staffs- -------98
Support Staffs- ------------15
General Staffs--------------13
Technicians- ---------------10
Workers------------------1,177
Range of
items: 1 Shirts
1 Overalls
Yearly Production Position: 180,000
dozens
Last year Production: 180,000
dozens
Office Area: 2,500
sq.ft (leased)
Factory Area: 32,000
(leased)
Warehouse Area: 4,000
sq.ft.(leased)
Fabrics Accessories From :1
China
1
Hong
Kong
1
Local
Sources
1
Thailand
1
Pakistan
1
India
Main Clients: 1 Wal-Mart--------USA
1
Oftig------------Germany
1
Norfolk---------France
1 Enbrtex--------France
Member: 1 Bangladesh Garments Manufacturers & Exporters
Association, Chittagong
1 Chittagong Chamber of Commerce &
Industries,
Chittagong
Name of the Group: NIL
Subsidiaries: 1 Pacific Jeans Limited, Chittagong
1 Pacific Zippers Limited, Chittagong
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
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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%)