MIRA INFORM REPORT

 

 

Report Date :

21.10.2008

 

IDENTIFICATION DETAILS

 

Name :

AESTHETIC APPAREL

 

 

Registered Office :

60 A,West Tezturi Bazar, Farmgate, Tejgaon, Dhaka-1215

 

 

Country :

Bangladesh

 

 

Financials (as on) :

2007

 

 

Date of Incorporation :

June 2004

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Garment Buying House of all types Knit and Woven Items for Overseas Buyers.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Concern

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

COMPANY DETAILS

 

Name:                                                   Aesthetic Apparel

 

Address:                                   60 A,West Tezturi Bazar,

                                                Farmgate,

                                                Tejgaon,

                                                Dhaka-1215,

 

Country:                                    Bangladesh      

 

Tel No:                                      880-6662618661           

 

Fax No:                                     880-6662618662

 

E-Mail:                                      sumon@aesthetic-apparel.com

 

Established:                              June 2004

 

Incorporation No:                        N/A

 

Incorporation Date:                     N/A

 

Legal Structure:                         The subject is a Proprietorship Company

 

Business Type:                          Garment Buying House

 

 

Status:                                      Satisfactory

 

Payments:                                No complaints have been heard regarding payments 

                                                from local suppliers or banks.

 

Litigation:                                  NIL

 

LOCATIONS

 

Head Office:                              60 A,West Tezturi Bazar,

                                                Farmgate,

                                                Tejgaon,

                                                Dhaka-1215

           

Tel No:                                     880-6662618661

 

Fax No:                                    880-6662618662

 

E-Mail:                                     sumon@aesthetic-apparel.com

 

Branch:                                    Block-434/A,

                                                Apt No.1B,

                                                Basundhara Residential Area,

                                                Dhaka-1229

                                                                       

Factory:                                    N/A

 

PROPRIETOR & CEO

 

Name:                                       Mr.Mohammad Faruque Uddin (Sumon)

Designation:                             Proprietor         

 

 

BUSINESS DETAILS

 

Line of Business:                       Garment Buying House

 

Items Dealing In:                        1 Knit

                                                1 Woven

                                               

Terms of Sale:                           1 Cash

                                                1 Credit

 

Production Capacity:                  N/A

 

Last Year Production:                 N/A

 

 

BANKERS

 

Name:                                       Exim Bank Limited

Branch:                                     Gulshan Branch

 

Address:                                   Gulshan,

                                                Dhaka

 

 

FINANCIAL INFORMATION

 

 

 

2007

 

2006

2005

Capital Investment

Tk.5 million

Tk.5 million

Tk.5 million

Turnover

Tk.75 million

T.74.1 million

Tk.73.8 million

Liability

NIL

NIL

NIL

Fixed Assets

Tk.20 million

Tk.20 million

Tk.20 million

 

Source:                         Mr.Mohammad Faruque Uddin (Sumon) / Proprietor

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

N/A

Paid Up Capital

:

N/A

Each Share Value

:

N/A

                                               

 

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:                      12

Executives----------------2  

Junior Executives-------3

Merchandisers-----------3                                                             

General Staffs-----------4        

                                               

Office Area:                               1,100 sq.ft (rented)

 

Factory Area:                            N/A

 

Warehouse Area:                       N/A

 

Foreign Principals:                     1  Wal-Mart---USA

1  Carrefore---USA

1  NKD--------UK

1  Intersports-USA

                                               

Name of the Group:                    Tuba Group

 

 

Subsidiaries:                             1  Tuba Textile Mills Limited

                                                1  Tuba Fashion Limited

                                                1  Tuba Garments Limited

                                               

Member:                                   1  Dhaka Chamber of Commerce & Industries, Dhaka,                                        

 

 

COMMENTS

 

The subject is a proprietorship concern engaged as garment buying house of all types knit and woven items for overseas buyers.

 

The proprietor is well conversant in his line of trade and he is also experienced businessman.

 

The concern is good for normal business engagements.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.83

UK Pound

1

Rs.85.12

Euro

1

Rs.65.86

 

 

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