MIRA INFORM REPORT

 

 

Report Date :

28.04.2011

 

IDENTIFICATION DETAILS

 

Name :

REFAT GARMENTS LIMITED

 

 

Registered Office :

144, 147-148 East Narashingpur, Savar, Dhaka

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

15.08.2005

 

 

Com. Reg. No.:

C-51868

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Manufacturer & Exporter of Ready-Made Garments

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 22,000.00

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY DETAILS

 

Name

Refat Garments Limited

Address

144, 147-148 East Narashingpur, Savar, Dhaka

Country

Bangladesh

Telephone No

880-2-9884969

Fax No

880-2-8826090

E-Mail

hsm@global-bd.net, hameem@citechco.net

Website

www.hameemgroup.net

Established

2005

Company Registration No

C-51868

Registration date

15th August 2005

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock of Companies & Firms, Dhaka

Business Type

Manufacturer & Exporter

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

241, Tejgaon Industrial Area, Dhaka

Telephone No

880-2-9884969

Fax No

880-2-8826090

E-Mail

hsm@global-bd.net, hameem@citechco.net

Website

www.hameemgroup.net

Branch 

NIL

Factory

144, 147-148 East Narashingpur, Savar, Dhaka

Factory Telephone No

N/A

Factory Fax No

N/A

Warehouse

144, 147-148 East Narashingpur, Savar, Dhaka

 

DIRECTORS

 

Name

Mr. Abdul Kader Azad

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Abul Bashar

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Mominul Haque

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. M. Ismail Hossain

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Mr. Abdul Kader Azad

Share Percent

40%

Nationality

Bangladeshi

 

 

Name

Mr. Abul Bashar

Share Percent

20%

Nationality

Bangladeshi

 

 

Name

Mr. Mominul Haque

Share Percent

20%

Nationality

Bangladeshi

 

 

Name

Mr. M. Ismail Hossain

Share Percent

20%

Nationality

Bangladeshi

BUSINESS DETAILS

 

Line of Business

Manufacturer & Exporter

Items Dealing In

Ready-Made Garments

Terms of Purchase

Local: cash or Credit

Import: Against L/C

Terms of Sale

Export: Against L/C

Production Capacity

156,000 dozens per year

Last Year Production

156,000 dozens

 

 

BANKERS

 

Name

Brac Bank Limited

Branch

Gulshan Branch

Address

Gulshan, Dhaka

SWIFT

N/A

 

 

Name

Southeast Bank Limited

Branch

Gulshan Branch

Address

Gulshan, Dhaka

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

 

 

2009

 

2008

2007

 

Capital Investment

Tk.32 million

Tk.30 million

Tk.30 million

Turnover

Tk.321.8 million

Tk.320.6 million

Tk.320 million

Liability

NIL

NIL

NIL

Fixed Assets

Tk.40 million

Tk.38 million

Tk.38 million

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.30 million

Paid Up Capital

Tk.150, 000.00

Each Share Value

Tk.100.00

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

120.1649

U.S Dollar

1

70.9200 

European Euro

1

106.7549

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks

No Found

Debt

No Records Found

Litigation

No Records Found

Performance Defaults

No Records Found

Adverse Press Coverage

No Records Found

Money Laundering

No Records Found

 

 

MAXIMUM RECOMMENDED CREDIT

 

Amount

Based On

US$ 22,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

1,200

Office Area (Sq. Ft)

3,500 sq.ft (rented)

Factory Area (Sq. Ft)

42,000 sq.ft (rented)

Warehouse Area (Sq. Ft)

8,500  sq.ft.(rented)

Range of Products

4 Shirts

4 Overalls

4 Pants

Export Market 

4 Wal-Mart------USA/ Canada

4 Judge----------USA

4 Zara-----------USA

4 H & M---------USA

4 Target--------USA

4 Miles----------USA

4 Vegotex------Germany

Fabrics & Accessories

4 Hong Kong

4 China

4 Thailand

4 Local Sources

4 Pakistan

4 India

Certifications

NIL

Group Name

4 Hameem Group

Subsidiaries / Affiliates

4 Hameem Garments Limited

4 Hameem Apparels Limited

4 Hameem Design Limited

4 Hameem Sportswear Limited

4 That’s It Knit Limited

4 That’s It Sweaters Limited

4 That’s It Garments Limited

4 Refat Sportswear Limited

Member

4 Bangladesh Garments Manufacturers & Exporters Association,

     Dhaka

4 Dhaka Chamber of Commerce & Industries, Dhaka

 

 

COMMENTS

 

The subject is a private limited company engaged in manufacturing and exporting of ready-made garments to overseas countries. The qualities of their products are good and they have good demand among their clients.

 

The directors are all experienced in this line of trade. They are financially solvent and good at their business commitment, it reported.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.40

UK Pound

1

Rs.73.26

Euro

1

Rs.65.17

 

 

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

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

--

NB

                                       New Business

 

--

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.