MIRA INFORM REPORT
|
Report Date : |
19.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
NEEDLE DROP LIMITED |
|
|
|
|
Registered Office : |
188-B
Gulshan-Tejgaon Link Road, Dhaka-1208 |
|
|
|
|
Country : |
Bangladesh |
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|
|
|
Date of Incorporation : |
28.07.2006 |
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|
|
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Com. Reg. No.: |
C-62909 |
|
|
|
|
Legal Form : |
Private
Limited Company |
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|
|
|
Line of Business : |
Manufacturer and Exporter of Ready-Made Garments |
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|
|
|
No. of Employees
: |
680 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 |
|
Maximum Credit Limit : |
US$ 25,000.00 |
|
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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COMPANY DETAILS
|
Name |
Needle Drop
Limited |
|
Address |
50 Chandapara Chanpara,
Bashon Road, P O National University Joydebpur, Gazipur |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8124156, 9890597 |
|
Fax No |
880-2-9887674 |
|
E-Mail |
|
|
Website |
NIL |
|
Established |
2006 |
|
Company Registration No |
C-62909 |
|
Registration date |
28th
July 2006 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of Joint Stock 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 |
188-B Gulshan-Tejgaon Link Road, Dhaka-1208 |
|
Telephone No |
880-2-8124156, 9890597 |
|
Fax No |
880-2-9887674 |
|
E-Mail |
|
|
Website |
NIL |
|
Branch |
NIL |
|
Factory |
50
Chandapara Chanpara, Bashon Road, P O National University Joydebpur, Gazipur |
|
Factory Telephone No |
NIL |
|
Factory Fax No |
NIL |
|
Warehouse |
50 Chandapara Chanpara,
Bashon Road, P O National University Joydebpur, Gazipur |
DIRECTORS
|
Name |
Mr. Abdul
Makaddus |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Safder Hossain |
|
Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Rabiul Ahsan Momen |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Shoeb |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Abdul
Makaddus |
|
Share Percent |
25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Safder Hossain |
|
Share Percent |
25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Rabiul Ahsan Momen |
|
Share Percent |
25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Shoeb |
|
Share Percent |
25% |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer and
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 |
180,000 dozens
per year |
BANKERS
|
Name |
Dutch
Bangla Bank Limited |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan Avenue, Dhaka-1212 |
|
SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2010 |
2009 |
2008 |
|
Investment |
Tk.35 million |
Tk.32 million |
Tk.32 million |
|
Turnover |
Tk.333 million |
Tk.330 million |
Tk.330 million |
|
Liability |
Tk.9 million |
Tk.9.6 million |
Tk.10 million |
|
Assets |
Tk.50 million |
Tk.48 million |
Tk.48 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.400,000.00 |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
124.3386 |
|
U.S Dollar |
1 |
80.4000 |
|
European Euro |
1 |
104.3672 |
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 |
680 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
37,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
3,800 sq.ft.(own) |
|
Range of
Products |
4 Shirts 4 Pants 4 Trousers |
|
Export Market |
4 USA 4 UK 4 Canada |
|
Fabrics & Accessories
|
4 Hong Kong 4 China 4 Thailand 4 Local Sources 4 Pakistan 4 India |
|
Certifications |
NIL |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
NIL |
|
Member |
4 Bangladesh Garments Manufacturers
& Exporters 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 |
|
---- |
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.