MIRA INFORM REPORT
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Report Date : |
11.04.2011 |
IDENTIFICATION DETAILS
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Name : |
AZMAT FASHIONS LIMITED |
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Registered Office : |
House No.23, Road No.107, Gulshan -2, |
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Country : |
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Date of Incorporation : |
04.08.1992 |
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Com. Reg. No.: |
C-24551 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
manufacturing & exporting 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$ 25,000.00 |
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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 |
|
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
|
Name |
Azmat Fashions
Limited |
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Address |
M-2,Section – 7, Mirpur I/A, Dhaka-1216 |
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Country |
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Telephone No |
880-2-8023251,802067 |
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Fax No |
880-2-9002901 |
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E-Mail |
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Website |
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Established |
1992 |
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Company Registration No |
C-24551 |
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Registration date |
4th
August 1992 |
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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
|
Head Office |
House No.23, Road No.107, Gulshan -2, |
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Telephone No |
880-2-9891749,
9891960 |
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Fax No |
880-2-9891749 |
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E-Mail |
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Website |
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Branch |
FAR FLAT-A2, 1/F, 269-273, CHEUNG SHA WAN ROAD, SHAM SHUI PO, TEL: 852-23800359/60, FAX: 852-23933162 E-mail - aflhk@netvigator.com Contact Person – Mr. Yousuf |
|
Factory |
M-2,Section
– 7, Mirpur I/A, Dhaka-1216 |
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Factory Telephone No |
880-2-8023251,802067 |
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Factory Fax No |
880-2-9002901 |
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Warehouse |
M-2,Section – 7,
Mirpur I/A, Dhaka-1216 |
DIRECTORS
|
Name |
Dr. Mohammad Athar Uddin |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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Name |
Mr. Azmat Rahman |
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Designation |
Managing
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Dr. Mohammad Athar Uddin |
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Share Percent |
50% |
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Nationality |
Bangladeshi |
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Name |
Mr. Azmat Rahman |
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Share Percent |
50% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
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 |
600, 000 dozens
per year |
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Last Year
Production |
600, 000 dozens |
BANKERS
|
Name |
Standard
Chartered Bank |
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Branch |
Gulshan Branch |
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Address |
Gulshan, |
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SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2009 |
2008 |
2007 |
|
Investment |
Tk.35 million |
Tk.32 million |
Tk.32 million |
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Turnover |
Tk.347 million |
Tk.345.7 million |
Tk.345 million |
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Liability |
NIL |
NIL |
NIL |
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Assets |
Tk.55 million |
Tk.53 million |
Tk.53 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.150,00.00 |
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Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
|
1 |
118.9678 |
|
U.S Dollar |
1 |
72.8300 |
|
European Euro |
1 |
104.3945 |
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$ 25,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
2,400 |
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Office Area (Sq.
Ft) |
2,200 sq.ft (rented) |
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Factory Area
(Sq. Ft) |
105,000 sq.ft (rented) |
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Warehouse Area
(Sq. Ft) |
10,500
sq.ft.(rented) |
|
|
4 Casual
Pant 4 Cargo
Pant 4 Casual
Short 4 Cargo
Short 4 Swimwear 4 Light
weight Jacket 4 Casual
L/Slv 4 S/Slv
top |
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Export
Market |
4 H&M 4 C&A 4 MATALAN 4 ALDI 4 DISTRA 4 BON PRIX etc. 4 Kohl’s 4 Wall-mart 4 GOERGE 4 TARGET 4 4 GAP 4 E.S. Apparel GROUP, Inc. 4 Main Knitting 4 VF (Wrangler) 4 Carters 4 Disney |
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Fabrics &
Accessories |
4 4 4 4 4 4 Local Sources |
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Certification |
NIL |
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Group Name |
4 Azmat Group of Industries |
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Subsidiaries /
Affiliates |
4 Z-3 Dresses Ltd 4 Azmat Apparels Ltd 4 Far East Dresses Ltd 4 Z-3 Composite Knitwear Ltd 4 Z-3 Embroidery Ltd 4 Z-3 Washing Plant Ltd 4 Z-3 Sand Blasting Plant 4 RT Dying and Washing |
|
Member |
4 4 Dhaka
Chamber of Commerce & Industries, |
COMMENTS
The subject is a private limited
company who is engaged in manufacturing & exporting ready-made garments to
the overseas countries. The
qualities of their products are good and have good demand among theirs clients.
The subject is a concern of Azmat Group of Industries.
The directors are well 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.44.04 |
|
|
1 |
Rs.72.20 |
|
Euro |
1 |
Rs.63.40 |
RATING EXPLANATIONS
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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 |
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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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 |
|
<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.