MIRA INFORM REPORT

 

 

Report Date :           

12.08.2011

 

IDENTIFICATION DETAILS

 

Name :

DAEYU BANGLADESH LIMITED

 

 

Registered Office :

Union Center, 68/1 Gulshan Avenue, Gulshan-1, Dhaka-1212

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

20.11.1996

 

 

Com. Reg. No.:

C-31804

 

 

Legal Form :

Private Limited   Company

 

 

Line of Business :

Dyeing, Selling & Spinning, Manufacturer & Exporter of Yarns & Sweaters

 

 

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$ 25,000.00

Status :

Satisfactory

Payment Behaviour :

Usually Correct 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Bangladesh

b1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

COMPANY DETAILS

 

Name

Daeyu Bangladesh Limited

Address

106-123 Dhaka Export Processing Zone Extension, Ganakbari, Savar, Dhaka

Country

Bangladesh

Telephone No

880-2-7701181, 7701183-5

Fax No

880-2-7701182

E-Mail

info@uniongroup-bd.com

Website

www.uniongroup-bd.com

Established

November 1996

Company Registration No

C-31804

Registration date

20th November 1996

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Dhaka

Business Type

Dyeing, Spinning of Yarns, Manufacturer & Exporter

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Union Center, 68/1 Gulshan Avenue, Gulshan-1, Dhaka-1212, Bangladesh

Telephone No

880-2-9885771-4

Fax No

880-2-8823454

E-Mail

info@uniongroup-bd.com

Website

www.uniongroup-bd.com

Branch

NIL

Factory

Spinning & Dyeing Factory (UNIT-1)

106-123 Dhaka Export Processing Zone Extension, Ganakbari, Savar, Dhaka

 

Sweater & Kniting Factory (UNIT-2)

731, BHANNARA, MOUCHAK, GAZIPUR

Factory Telephone No

880-2-7701181, 7701183-5, 9298001-2

Factory Fax No

880-2-7701182, 9298003

Warehouse

Spinning & Dyeing Factory (UNIT-1)

106-123 Dhaka Export Processing Zone Extension, Ganakbari, Savar, Dhaka

 

Sweater & Kniting Factory (UNIT-2)

731, BHANNARA, MOUCHAK, GAZIPUR

 

 

DIRECTORS

 

Name

Mrs. Nazma Kabir Khan

Designation

Chairman

Nationality

Bangladeshi

 

 

Name

Mr. Rana Shafiullah

Designation

Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Raquibul Kabir

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Juria Rana

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Nasreen Kabir

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. K. O. Lee

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Mrs. Nazma Kabir Khan

Share Percent

20%

Nationality

Bangladeshi

 

 

Name

Mr. Rana Shafiullah

Share Percent

30%

Nationality

Bangladeshi

 

 

Name

Mr. Raquibul Kabir

Share Percent

20%

Nationality

Bangladeshi

 

 

Name

Mrs. Juria Rana

Share Percent

10%

Nationality

Bangladeshi

 

 

Name

Mrs. Nasreen Kabir

Share Percent

10%

Nationality

Bangladeshi

 

 

Name

Mr. K. O. Lee

Share Percent

10%

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Dyeing, Selling & Spinning, Manufacturer & Exporter

Items Dealing In

Yarns & Sweaters

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Local: Cash or Credit

Export: Against L/C

Production Capacity

1) Acrylic yarn: 48,384,000 lbs (Per year)
2) Cotton yarn: 9,331,000 lbs (Per year)

Last Year Production

1) Acrylic yarn: 48,384,000 lbs

2) Cotton yarn: 9,331,000 lbs

 

 

BANKERS

 

Name

One Bank Limited

Branch

Gulshan Branch

Address

Gulshan, Dhaka

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2010

2009

 

2008

Investment

Tk.32 million

Tk.32 million

Tk.30 million

Turnover

Tk.326.4 million

Tk.326 million

Tk.324 million

Liability

NIL

NIL

NIL

Assets

Tk.53 million

Tk.53 million

Tk.50 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.1 billion

Paid Up Capital

Tk.1 million

Each Share Value

Tk.100.00

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

120.6465

U.S Dollar

1

74.7500

European Euro

1

106.0852

 

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$ 25,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

2,700

Office Area (Sq. Ft)

2,100 sq.ft (leased)

Factory Area (Sq. Ft)

35,500 sq.ft (leased)

Warehouse Area (Sq. Ft)

4,950 sq.ft.(leased)

Range of Products

4 Acrylic Yarn  

4 Cotton Yarn

4 Sweaters   

Major Clients 

4 Wal-Mart-------USA

4 K-Mart---------USA

4 Target---------USA

Raw Cotton Import From

4 Uzbekistan

4 Pakistan

4 Russia

4 Egypt

4 India

Certifications

NIL

Group Name

4 Union Group 

Subsidiaries / Affiliates

4 Cellular Mobile Pte. Limited                

4 Union Properties Limited

4 Union Tea Company Limited

4 Sam Ree Dyeing (Bd) Limited                        

4 Union Power Systems Limited

4 Lakhsma Fashion Limited                  

4 Dacca Warehouse Limited

4 H. P. Chemicals Limited                    

4 H. Kabir & Co. Limited

4 Union Mercantile Limited

Member

4 Bangladesh Textile Mills Association, Dhaka

4 Bangladesh Garments Manufacturers & Exporters, 

    Association, Dhaka

4 Dhaka Chamber of Commerce & Industries, Dhaka 

 

 

COMMENTS

 

The subject is a private limited company who is engaged in dyeing, spinning & selling of yarns. The subject also engaged in manufacturing & exporting of ready-made sweaters to overseas countries. The qualities of their products are very good and they well reputed in local sweaters industries circles. The subject is a concern of Union Group.

 

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 commitment, it reported.

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.27

UK Pound

1

Rs.73.34

Euro

1

Rs.64.58

 

 

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.