MIRA INFORM REPORT
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Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
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Name : |
CASSIOPEA FASHION LIMITED |
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Registered Office : |
AJ Heights, Cha-72/1/D Progoti Shoroni, Uttar Badda, Dhaka-1212 |
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Country : |
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Date of Incorporation : |
06.01.2008 |
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Com. Reg. No.: |
C-66825 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
manufacturing and exporting of ready-made garments |
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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Maximum Credit Limit : |
US$ 22,000.00 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
COMPANY DETAILS
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Name |
Cassiopea
Fashion Limited |
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Address |
Borkan, Monipur Hotapara, Vobanipur, Mirzapur, Gazipur |
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Country |
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Telephone No |
880-6662301341 |
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Fax No |
880-6662301346 |
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E-Mail |
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Website |
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Established |
2008 |
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Company Registration No |
C-66825 |
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Registration date |
6th
January 2008 |
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Legal Status |
Private Limited |
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Issuing Authority |
The Registrar of Joint Stock Companies & Firms, |
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Business Type |
Manufacturer & Exporter |
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Status |
Satisfactory |
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Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
LOCATIONS
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Head Office |
AJ
Heights, Cha-72/1/D Progoti Shoroni, Uttar Badda, Dhaka-1212, |
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Telephone No |
880-2-8816599,
8814757 |
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Fax No |
880-2-8822417 |
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E-Mail |
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Website |
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Branch |
NIL |
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Factory |
Borkan, Monipur Hotapara, Vobanipur, Mirzapur, Gazipur |
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Factory Telephone No |
880-6662301341 |
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Factory Fax No |
880-6662301346 |
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Warehouse |
Borkan, Monipur Hotapara, Vobanipur, Mirzapur, Gazipur |
DIRECTORS
|
Name |
Mr. Tanveer
Ahmed |
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Designation |
Chairman & Managing Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Tahmid Ahmed
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Designation |
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Tanveer
Ahmed |
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Share Percent |
60% |
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Nationality |
Bangladeshi |
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Name |
Mr. Tahmid Ahmed
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Share Percent |
40% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
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Line of Business |
Manufacturer & Exporter |
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Items Dealing In |
Ready-Made Garments |
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Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
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Terms of |
Export: Against L/C |
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Production
Capacity |
6,000,000 pieces
per year |
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Last Year
Production |
6,000,000 pieces |
BANKERS
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Name |
Prime Bank
Limited |
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Branch |
Motijheel Branch |
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Address |
Motijheel
Commercial Area, |
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SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2009 |
2008 |
2007 |
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Investment |
Tk.30 million |
Tk.30 million |
N/A |
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Turnover |
Tk.275 million |
One Year not completed |
N/A |
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Liability |
Tk.6.9 million |
Tk.7 million |
N/A |
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Assets |
Tk.50 million |
Tk.50 million |
N/A |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.30 million |
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Paid Up Capital |
Tk.300,000.00 |
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Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
|
1 |
116.9923 |
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U.S Dollar |
1 |
72.7700 |
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European Euro |
1 |
102.8095 |
ADVERSE DATA MONITORING
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Dishonored
Checks |
No Found |
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Debt |
No Records Found |
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Litigation |
No Records Found |
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Performance
Defaults |
No Records Found |
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Adverse Press
Coverage |
No Records Found |
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Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based On |
|
US$ 22,000.00 |
90 Days |
GENERAL INFORMATION
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Employees |
1,600 |
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Office Area (Sq.
Ft) |
2,200 sq.ft (rented) |
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Factory Area
(Sq. Ft) |
50,000 sq.ft (rented) |
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Warehouse Area
(Sq. Ft) |
7,800 sq.ft.(rented) |
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|
4 Pants 4 Skirts 4 Overall 4 Shorts 4 Jogging Suits 4 Dress |
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Export Market |
4 4 Primark Stores Ltd, 4 Penney Store, 4 Bernardi spa, 4 Centex spa, 4 Peacock Store 4 Mothers World INC Jacobs, 4 |
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Fabrics &
Accessories |
4 4 4 4 4 4 4 4 4 |
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Certifications |
NIL |
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Group Name |
4 Elegant Group |
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Subsidiaries /
Affiliates |
4
Cassiopea Clothing Limited 4 Cassiopea Apparels Limited 4 Elegant Washing Plant Limited 4 Elegant Construction Company 4 Lavender Convenience Store
Limited |
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Member |
1 Association, 1 Dhaka Chamber of Commerce &
Industries, |
COMMENTS
The subject is a private limited company who is engaged in
manufacturing and exporting of ready-made garments. The qualities of their
products are good and have good demands to their clients. The subject is a
concern of Elegant Group.
The directors are conversant in their line of trade and they
are also experienced businessman. They are financially solvent and good at
their business commitments, it is reported.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.93 |
|
Euro |
1 |
Rs.63.24 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.