MIRA INFORM REPORT
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Report Date : |
19.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
AGC SPINNING MILLS LIMITED |
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Registered Office : |
27, Dilkusha C/A, Baitul Hossain Building (11th Floor), Suite No. 1206, Dhaka-1000 |
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Country : |
Bangladesh |
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Date of Incorporation : |
13.04.2004 |
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Com. Reg. No.: |
C-42146 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer and Seller of Yarns |
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No. of Employees
: |
1500 persons |
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 |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Bangladesh |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
AGC Spinning Mills
Limited |
|
Address |
27,Dilkusha
C/A, Baitul Hossain Building (11th Floor), Suite No. 1206,
Dhaka-1000 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9570536,
9559406 |
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Fax No |
880-2-9553707 |
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E-Mail |
|
|
Website |
NIL |
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Established |
2004 |
|
Company Registration No |
C-42146 |
|
Registration date |
13th
April 2004 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer & Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local suppliers or banks. |
Information Parted
By:
Name : Mr. Mazhqrul Haav
Designation : Accounts Manager
Date : 19.12.2011
LOCATIONS
|
Head Office |
27,
Dilkusha C/A, Baitul Hossain Building (11th Floor), Suite No. 1206,
Dhaka-1000 Location
: Owned |
|
Telephone No |
880-2-9570536,
9559406 |
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Fax No |
880-2-9553707 |
|
E-Mail |
|
|
Website |
NIL |
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Branch |
NIL |
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Factory |
Adhuria, Duptara, Rupgonj,Narayangonj |
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Factory Telephone No |
NIL |
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Factory Fax No |
NIL |
|
Warehouse |
Adhuria,
Duptara, Rupgonj,Narayangonj |
DIRECTORS
|
Name |
Mr. Abdul Gaffar
Chowdhury |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Mazharul
Arif Chowdhury |
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Designation |
Managing
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Abdul Gaffar
Chowdhury |
|
Share Percent |
45% |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Mazharul
Arif Chowdhury |
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Share Percent |
55% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer and
Seller |
|
Items Dealing In |
Yarns |
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Terms of Purchase |
Local: Cash or Credit (30 days) Import: Against L/C |
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Terms of Sale |
Local: Cash or Credit (30 days) |
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Types of Customers
|
Wholesalers, End Users, OEM‘s, Retailers |
Auditors
|
Name |
A.K. Azad Chartered Accountants |
BANKERS
|
Name |
United
Commercial Bank Limited |
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Branch |
Dilkusha Branch |
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Address |
Dilkusha C/A, Dhaka |
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SWIFT |
N/A |
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|
|
|
Name |
Dutch Bangla
Bank Limited |
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Branch |
Dhaka Branch |
FINANCIAL INFORMATION
|
Year |
2010 |
2009 |
2008 |
|
Investment |
Tk.28 million |
Tk.28 million |
Tk.25 million |
|
Turnover |
Tk.234.6 million |
Tk.234 million |
Tk.232 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.35 million |
Tk.35 million |
Tk.3 2million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.250,000.00 |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
125.3414 |
|
U.S Dollar |
1 |
80.7300 |
|
European Euro |
1 |
105.2558 |
ADVERSE DATA MONITORING
|
Dishonored
Checks |
No Found |
|
Debt |
No Records Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
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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 |
1500 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
35,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
3,700 sq.ft.(own) |
|
Range of
Products |
4 Carded Yarn |
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Major Clients |
4 Local Garments Industries |
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Certifications |
NIL |
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Group Name |
NIL |
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Subsidiaries /
Affiliates |
4 Mother Trading (Pvt.) Limited |
|
Member |
4 Bangladesh Textile Mills
Association, Dhaka 4 Dhaka Chamber of Commerce &
Industries, Dhaka |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.81 |
|
UK Pound |
1 |
Rs.82.00 |
|
Euro |
1 |
Rs.68.81 |
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 |
|
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.