MIRA INFORM REPORT

 

 

 

Report Date :

06.11.2008

 

IDENTIFICATION DETAILS

 

Name :

S.NAHAR GARMENTS & TEXTILE MILLS LIMITED

 

 

Registered Office :

93,Motijheel Commercial Area (3rd Floor), Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

18.04.1990

 

 

Com. Reg. No.:

C-19529

 

 

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:                                                   S.Nahar Garments & Textile Mills Limited

 

Address:                                   93,Motijheel Commercial Area (3rd Floor),

                                                Dhaka-1000,

                                               

Country:                                    Bangladesh      

 

Tel No:                                      880-2-911846, 9562682, 9562681,

 

Fax No:                                     880-2-9562687,

 

E-Mail:                                      info@mohammadi-group.com

                                                rabib@mohammadigroup.com

 

Established:                              April 1990

 

Incorporation No:                        C-19529

 

Incorporation Date:                     18th April 1990

 

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:                              93, Motijheel Commercial Area (3rd Floor),

                                                Dhaka-1000,

 

Tel No:                                     880-2-911846, 9562682, 9562681,

 

Fax No:                                    880-2-9562687,

 

E-Mail:                                     info@mohammadi-group.com

                                                rabib@mohammadi-group.com

 

Branch:                                    NIL

 

Factory:                                    3/A,West Tezturi Bazar,

                                                Airport Road,

                                                Dhaka-1215,

 

Warehouse:                               3/A, West Tezturi Bazar,

                                                Airport Road,

                                                Dhaka-1215,

                                               

 

SHAREHOLDER’S AND DIRECTORS

 

Name:                                       Al-Haj Mohammad Seraj Ud Dowla

Designation:                             Chairman

 

Name:                                       Mr.N.M.Habibur Rahman

Designation:                              Managing Director

 

Name:                                       Mr.Anisul Haque

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:                                       National Bank Limited

Branch:                                     Dilkusha Branch

 

Address:                                   Dilkusha Commercial Area,

Dhaka

 

Name:                                       Janata Bank Limited

Branch:                                     Corporate 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.18 million

Tk.18 million

Tk.18 million

Turnover

Tk.195 million

Tk.194.7 million

Tk.192 million

Liability

Tk.1.7 million

Tk.2 million

Tk.2.8 million

Fixed Assets

Tk.27 million

Tk.27 million

Tk.27 million

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk.20 million

Paid Up Capital

:

Tk.150,000.00

Each Share Value

:

Tk.100.00

 

EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

GB Pound

1

137.1626

U.S Dollar

1

  69.4000

European Euro

1

108.8231

Japanese Yen

1

   0.6729

Australian Dollar

1

 65.7102

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:         571

Executives--------------------3  

Junior Executives-----------4

Merchandisers--------------6

Quality Control------------18

Supervisory Staffs--------27

Support Staffs--------------8                                                           

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

Technicians-----------------5

Workers-                      490 

 

 

Range of Products:                    1 MB Shirts

                                                1 Ladies Shirts

                                                1 Blouses

                                                1 Tops

                                                  

Yearly Production Capacity:    100,000 dozens

 

Last Year Production:            100,000 dozens

                                               

Office Area:                               1,200 sq.ft (rented)

 

Factory Area:                            24,500 sq.ft (own)

 

Warehouse Area:                       3,800 sq.ft.(own)

 

Main Clients:                             1 Fancy SRL----Italy

1 Smiles--------USA

1 Wal-Mart-----USA

1 MIM----------France

 

Fabrics & Accessories:              1 Hong Kong

                                                1 China

                                                1 Pakistan

 

Name of the Group:        Mohammadi Group

 

Subsidiaries:                             1 Mohammadi Apparels Ltd.

                                                1 Mohammadi Knitwear Ltd.

                                                1 Mohammadi Fashion 2000 Ltd.

                                                1 Mohammadi Foods & Beverages Ltd.

                                                1 Mohammadi Collections Ltd

                                                1 Mohammadi News Agency (MNA)

                                                1 Mohammadi Advertising Co. (Pvt.) Ltd.

                                                                                   

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 Shirts and blouses to overseas countries. The qualities of their products are good and their overseas clients are satisfied with their performance.

 

The company is a unit of Mohammadi Group, a renowned business house in the garments sector of the country.

 

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.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.67

UK Pound

1

Rs.75.47

Euro

1

Rs.61.19

 

 

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