MIRA INFORM REPORT

 

 

Report Date :

03.03.2008

 

 

IDENTIFICATION DETAILS

 

Name :

OPEX APPARELS LIMITED

 

 

Registered Office :

House No.368, Road No.28, New DOHS, Mohakhali, Dhaka-1206

 

 

Country :

Bangladesh

 

 

Financials (as on) :

2007

 

 

Date of Incorporation :

09.12.1997

 

 

Com. Reg. No.:

C-34487

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturers and 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:                                                   Opex Apparels Limited

 

Address:                                   House No.368,

                                                Road No.28,

                                                New DOHS,

                                                Mohakhali,

                                                Dhaka-1206,

                                               

Country:                                    Bangladesh      

 

Tel. No. :                                   880-2-8828864, 8828863, 8828860, 8828861,

 

Fax No. :                                   880-2-8828856,

 

E-Mail:                                      pex@bdmail.net

opex@citechco.net

 

 

Established:                              December, 1997

 

Incorporation No. :                      C-34487

 

Incorporation Date:                     9th December, 1997

 

 

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:                              House No.368,

                                                Road No.28,

                                                New DOHS,

                                                Mohakhali,

                                                Dhaka-1206,

           

Tel. No. :                                  880-2-8828864, 8828863, 8828860, 8828861,

 

Fax No. :                                  880-2-8828856,

 

E-Mail:                                     opex@bdmail.net

                                                opex@citechco.net

 

Branch:                                    NIL

 

Factory:                                    Kanchpur,

                                                Sonargaon,

                                                District: Narayanganj

 

                                               

SHAREHOLDER’S AND DIRECTORS

 

Name:                                       Capt.(rtd) Anisur Rahman Sinha

Designation:                             Chairman

 

Name:                                       Mr.Anwar Hossain

Designation:                              Managing Director

 

Name:                                       Mr.A.N.M.Baharul Huq

Designation:                              Director

 

Name:                                       Col.(rtd) Fariduddin Ahmed

Designation:                              Director

 

Name:                                       Mr.Abdul Aziz

Designation:                              Director

 

Name:                                       Ms.Jahan

Designation:                              Director

 

 

BUSINESS DETAILS

 

Line of Business:                       Manufacturers and Exporters

 

Items Dealing In:                        Ready-Made Garments

 

Terms of Sale:                           1 Against L/C,

 

                                               

BANKERS

 

Name:                                       Janata Bank Limited

Branch:                                     Local Office Branch

 

Address:                                   Motijheel Commercial Area,

Dhaka

 

Name:                                       Standard Chartered Bank

Branch:                                     Dilkusha Branch,

 

Address:                                   Dilkusha Commercial Area,

                                                Dhaka

 

FINANCIAL INFORMATION

 

 

 

2007

 

2006

2005

Capital Investment

Tk.22 million

Tk.22 million

Tk.22 million

Turnover

Tk.270 million

Tk.269 million

Tk.268.8 million

Liability

Tk.2 million

Tk.3 million

Tk.3.8 million

Fixed Assets

Tk.38 million

Tk.38 million

Tk.38 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk.100 million

Paid Up Capital

:

Tk.500,000.00

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:                     642

Executives------------------- 4  

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

Merchandisers---------------8

Quality Control-------------25

Supervisory Staffs---------48

Support Staffs--------------10                                                         

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

Technicians-------------------8

Workers---------------------524 

 

 

Range of Products:                    1 Shirts

                                                1 Blouses

                                               

Yearly Production Capacity:    100,000 dozens

 

Last Year Production :                100,000 dozens

                                               

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

 

Factory Area:                            32,000 sq.ft (rented)

 

Warehouse Area:                       3,500  sq.ft.(rented)

 

Main Clients:                             1 TNF------USA

                                                1 TNF------Canada

                                                1 Nautica--USA

 

 

Fabrics & Accessories:              1  Hong Kong

                                                1  China

                                                1  Thailand

                                                1  Local Sources

1      Pakistan

 

Name of the Group:                    Opex Group

 

Subsidiaries:                             1 Opex Ready Wears Limited,

                                                1 Miti Apparels Limited,

                                                1 Ornate Garments Limited,

                                                1 Sinha Apparels Limited,

                                                1 Mouri Fashion Limited,

                                                1 Classic Wears Limited,

                                                1 Balaka Fashion Limited,

                                                1 Opex Fashions Limited,

                                                1 Opex Garments Limited,

                                                1 Sinha Garments Limited,

                                                1 Chic Apparels Limited,

                                                1 Sinha Rotor Spinning Limited,

                                                1 Sinha Dyeing & Finishing Limited,

                                                1 Sinha Textiles Limited,

                                                1 Jacee Fashions Limited,

                                                1 Pritha Apparels Limited,

                                               

                                   

Members :                                1 Bangladesh Garments Manufacturers & Exporters

                                                   Association, Dhaka

                                                1 Dhaka Chamber of Commerce & Industries, Dhaka

 

 

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 their overseas clients.

 

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