MIRA
INFORM REPORT
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Report Date : |
26.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
NATIONAL ACCESSORIES LIMITED |
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Registered Office : |
Eastern
Part, 214, Baizid Bustami Road, Nasirabad industrial Area, Chittagong-4210 |
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Country : |
Bangladesh |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
14.12.1995 |
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Com. Reg. No.: |
C-27321 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers
and Sellers of all types of Zippers |
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: National
Accessories Limited
Address: Eastern Part,
214, Baizid
Bustami Road,
Nasirabad
industrial Area,
Chittagong-4210
Country: Bangladesh
Tel No : 880-31-681112, 683383, 682927,
Fax No. : 880-31-681511,
E-Mail: nal.ctg.mkt@cncgroupbd.com
Established: December, 1995
Incorporation
No: C-27321
Incorporation
Date: 14th December, 1995
Legal Structure: The subject is a
private limited company in corporate
With the
Registrar of Joint Stock Companies,
Dhaka,
Business Type: Manufacturers and
Sellers
Status: Satisfactory
Payments: No complaints have
been heard regarding payments
from local
suppliers or banks.
Litigation: NIL
LOCATIONS
Head Office: NIB House (1st Floor),
32, Agrabad
Commercial Area,
Chittagong,
Tel No: 880-31-711019-21,
Fax No. : 880-31-710013,
E-Mail: nal.ctg.mkt@cncgroupbd.com
Branch: Chayaneer
No.G1,
House
No.45,
Road
No.27,
Block-A,
Dhaka-1213,
Tel No: 880-2-8820369, 9882236, 9891007,
Fax No: 880-2-8820884,
E-Mail: nal.ctg.mkt@cncgroupbd.com
Factory: Eastern Part,
214,Baizid
Bustami Road,
Nasirabad
industrial Area,
Chittagong-4210,
SHAREHOLDER’S AND DIRECTORS
Name: Mr.Ezharul Haque
Designation: Chairman
Name: Mr.Saiful Haque
Designation: Managing Director
BUSINESS DETAILS
Line of Business:
Manufacturers
Sellers
Items Dealing In: All types of
Zippers
Terms of Sale: 1 Cash
1 Credit
BANKERS
Name: IFIC Bank Limited
Branch: Agrabad Branch
Address: Agrabad Commercial
Area,
Chittagong
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.232 million |
Tk.230 million |
Tk.228.6 million |
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Liability |
Tk.7 million |
Tk.9.5 million |
Tk.11 million |
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Fixed Assets |
Tk.34 million |
Tk.34 million |
Tk.34 million |
CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.20 million |
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Paid Up Capital |
: |
Tk.200,000.00 |
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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: 310
Executives------------------3
Junior Executives---------- 4
Engineers-------------------3
Quality Control------------24
Supervisory Staffs- -------36
Support Staffs- -----------10
General Staffs-------------10
Technicians- --------------10
Workers------------------210
Range of items: 1 All types of Zippers
Production
Position: 300,000 million
pcs per year
Last year
Production: 280,000 million pcs
Office Area: 1,500 sq.ft
(rented)
Factory Area: 1 acre of lands
(leased)
Warehouse Area: 4,500 sq.ft.(leased)
Raw Materials From :
1
China
1
Hong
Kong
1
Singapore
1
Thailand
1
Pakistan
Certification: 1 ISO-9001:2000
Main Clients: 1 Local
Export Oriented Ready-Made Garments Industries
Member: 1 Chittagong Chamber of Commerce & Industries,
Chittagong
Name of the Group: CNC Group
Subsidiaries: 1 Columbia Multi-Tech (JV) Ltd,
1 Columbia Enterprise Limited,
1 Nash Logistics Limited,
1 JES Holdings Limited,
1 Silver Soap limited
1 Columbia Air Express Limited,
COMMENTS
The subject is a Taiwan Bangladesh joint venture private
limited company engaged in manufacturing and selling of all types zippers to
local export oriented ready-made garments. 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%)