MIRA INFORM REPORT
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Report Date : |
09.04.2011 |
IDENTIFICATION DETAILS
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Name : |
SHANIN INTERNATIONAL LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
18.02.1991 |
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Com. Reg. No.: |
C-56431 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
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$ 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
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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 |
Shanin International Limited |
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Address |
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Country |
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Telephone No |
880-2-8621050 |
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Fax No |
880-2-8621346, 8621391 |
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E-Mail |
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Website |
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Established |
1991 |
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Company Registration No |
C-56431 |
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Registration date |
18th
February 1991 |
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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 |
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 |
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Telephone No |
880-2-8621050 |
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Fax No |
880-2-8621346, 8621391 |
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E-Mail |
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Website |
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Branch |
NIL |
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Factory |
N/A |
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Factory Telephone No |
N/A |
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Factory Fax No |
N/A |
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Warehouse |
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DIRECTORS
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Name |
Mr. Faruk-Al-
Nasir |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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Name |
Mr. Mohammad
Fahim |
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Designation |
Managing
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Faruk-Al-
Nasir |
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Share Percent |
50% |
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Nationality |
Bangladeshi |
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Name |
Mr. Mohammad
Fahim |
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Share Percent |
50% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
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Line of Business |
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 |
BANKERS
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Name |
Bank Asia
Limited |
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Branch |
Local Office
Branch |
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Address |
Motijheel C/A, |
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SWIFT |
N/A |
FINANCIAL INFORMATION
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Year |
2009 |
2008 |
2007 |
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Investment |
Tk.37 million |
Tk.35 million |
Tk.35 million |
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Turnover |
Tk.390 million |
Tk.387.6 million |
Tk.387 million |
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Liability |
NIL |
NIL |
NIL |
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Assets |
Tk.72 million |
Tk.70 million |
Tk.70 million |
CAPITAL
STRUCTURE
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Authorized
Capital |
Tk.20 million |
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Paid Up Capital |
Tk.250,00.00 |
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Each Share Value |
Tk.100.00 |
EXCHANGE
RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
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|
1 |
118.9678 |
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U.S Dollar |
1 |
72.8300 |
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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
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Employees |
8,300 |
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Office Area (Sq.
Ft) |
2,500 sq.ft (rented) |
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Factory Area
(Sq. Ft) |
N/A |
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Warehouse Area
(Sq. Ft) |
8,500
sq.ft.(rented) |
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4 Formal
Shirts 4 Casual
Shirts 4 Ladies
Blouses 4 School
Shirts 4 Blouses |
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Export
Market |
4 BHS 4 DEBENHAMS 4 FRUIT OF THE LOOM 4 MARKS & SPENCER 4 MOSS BROS 4 NEXT 4 PENNEYS 4 PRIMARK 4 TESCO 4 4 MOLLER 4 DUNNES STORES 4 FRANK Q 4 SPRING FIELD 4 KENVELO 4 WE NETHERLAND |
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Certification |
NIL |
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Group Name |
4 Shanin Group |
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Subsidiaries /
Affiliates |
4 M & M Shirts Limited 4 The Shanin Corporation Limited 4 Alpha Knitting Wear Limited 4 M & M Dresses Limited 4 Shanin Packages Limited 4 Fem Accessories Limited 4 The Shanin Clothing Limited 4 Fem Wendler Interlining Limited 4 Shantex (Pvt.) Limited 4 Reaz Export Apparels Limited |
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Member |
4 Dhaka
Chamber of Commerce & Industries, |
COMMENTS
The subject is a private limited
company who is engaged in exporting ready-made garments to the overseas
countries. Their
customers are all over the world but out main customers are from Europe and
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
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Indian Rupees |
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US Dollar |
1 |
Rs.44.04 |
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|
1 |
Rs.72.20 |
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Euro |
1 |
Rs.63.40 |
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.