MIRA INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
PACIFIC SPINNING MILLS LIMITED |
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Registered Office : |
165/1, (2nd Floor), Lake Circus, Kalabagan, Mirpur, Dhaka-1205, |
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Country : |
Bangladesh |
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Date of Incorporation : |
20.07.1997 |
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Com. Reg. No.: |
C-42974 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers
and Selling of Yarns |
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 : |
Usually Correct |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Pacific Spinning
Mills Limited
Address: 165/1, (2nd Floor),
Lake
Circus,
Kalabagan,
Mirpur,
Dhaka-1205,
Country: Bangladesh
Tel No: 880-2-9146032, 06725-88328
Fax No: 88-06725-88328
E-Mail: btsmill@citech.net
psmltd@citech.net
Established: July 1997
Incorporation
No: C-42974
Incorporation
Date: 20th July 1997
Legal Structure: The subject is a
private limited company in corporate
With
the Registrar of Joint Stock Companies,
Dhaka,
Business Type: Manufacturers and
Selling of Yarns
Status: Satisfactory
Payments: No complaints have
been heard regarding payments
from local suppliers
or banks.
Litigation: NIL
LOCATIONS
Head Office:
165/1,
(2nd Floor),
Lake
Circus,
Kalabagan,
Mirpur,
Dhaka-1205,
Tel No: 880-2-9146032, 06725-88328
Fax No: 88-06725-88328
E-Mail: btsmill@citech.net
psmltd@citech.net
Branch: NIL
Factory: Jatramura,
Tarabo,
Rupganj,
Narayanganj
Warehouse: Jatramura,
Tarabo,
Rupganj,
Narayanganj
SHAREHOLDER’S AND DIRECTORS
Name: Mr.Mokbul Hossain
Bhuiyan
Designation: Chairman &
Managing Director
Name: Mr.Roni Hasan
Designation: Director
BUSINESS DETAILS
Line of Business:
Manufacturers and
Selling of Yarns
Terms of Sale: 1 Cash
1 Credit
BANKERS
Name: Dutch Bank Limited
Branch: Panthapath Branch
Address: Panthapath,
Dhaka
FINANCIAL INFORMATION
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2007 |
2006 |
2005 |
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Capital Investment |
Tk.35 million |
Tk.35 million |
Tk.35 million |
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Turnover |
Tk.215 million |
Tk.214.2 million |
Tk.213 million |
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Liability |
Tk.3 million |
Tk.4.2 million |
Tk.5 million |
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Fixed Assets |
Tk.42 million |
Tk. 42 million |
Tk.42 million |
CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.20 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 |
137.1626 |
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U.S Dollar |
1 |
69.4000 |
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European Euro |
1 |
108.8231 |
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Japanese Yen |
1 |
0.6729 |
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Australian Dollar |
1 |
65.7102 |
GENERAL INFORMATION
No. of Employees: 125
Executives-----------------3
Junior Executives---------4
Textile Engineers---------3
Quality Control--------- --9
Supervisory Staffs- ---- 10
Support Staffs- ----------3
General Staffs------------8
Technicians- -------------5
Workers-----------------80
Range of Products: 1 Yarns
Yearly Production Position: 700,000
pounds
Last Year Production: 680,000 pounds
Office Area: 3,100 sq.ft
(rented)
Factory Area: 55,000 sq.ft (own)
Warehouse Area: 4,100 sq.ft.(own)
Raw Materials From: 1 China
1 Uzbekistan
1 Kazakhstan
1 Pakistan
1 India
Main Clients: 1 Export Oriented Ready-Made garments
Industries
Member: 1 Bangladesh Textile Mills Association, Dhaka
1 Dhaka Chamber of Commerce &
Industries,
Dhaka
Subsidiaries: 1 Bhuiyan Textile
Mills Limited,
COMMENTS
The subject is a private limited company engaged in
manufacturing and selling of yarns. The qualities of their products are very
good and it has got good demand in local export oriented ready-made garment
industries.
The directors are well conversant in their line of trade and
they are also experienced businessman.
The company is good for normal business engagements.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.46 |
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UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
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%)