MIRA
INFORM REPORT
|
Report Date : |
31.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
ENVOY TEXTILES LIMITED |
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Registered Office : |
Envoy Tower, 18/E,Lake Circus,Kalabagan,West Panthapath, Dhaka-1205 |
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Country : |
Bangladesh |
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Date of Incorporation : |
25.09.2005 |
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Com. Reg. No.: |
C- 28622 |
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Legal Form : |
Public Limited |
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Line of Business : |
Manufacturer,
Exporter & Seller of Fabrics |
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No. of Employees : |
740 |
RATING & COMMENTS
|
MIRAs 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$ 50,000.00 |
|
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 30, 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 |
NOTE:
Registered
office address has been shifted from 400-B, Khilgaon, Bangladesh to Envoy Tower,
18/E,Lake Circus,Kalabagan,West Panthapath, Dhaka-1205 Bangladesh.
COMPANY DETAILS
|
Name |
Envoy Textiles Limited |
|
Address |
Envoy Tower,
18/E,Lake Circus,Kalabagan,West Panthapath, Dhaka-1205 Note: The
subject operates from this address. |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9102583-90 |
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Fax No |
880-2-9103128-29 |
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E-Mail |
|
|
Website |
|
|
Established |
2005 |
|
Commercial Production From |
February 2006 |
|
Company Registration No |
C- 28622 |
|
Registration date |
25th
September 2005 |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The Registrar of Joint Stock of Companies & Firms, Dhaka |
|
Business Type |
Manufacturer, Exporter & Seller |
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Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Auditors |
Ahmad Akhtar and Company |
LOCATIONS
|
Head Office |
Envoy Tower,
18/E,Lake Circus,Kalabagan,West Panthapath, Dhaka-1205 |
|
Telephone No |
880-2-9102583-90 |
|
Fax No |
880-2-9103128-29 |
|
E-Mail |
info@envoytextiles.com |
|
Website |
www.envoytextiles.com |
|
Branch |
NIL |
|
Factory |
Jamirdia,
Bhaluka, Mymensingh |
|
Factory Telephone No |
NIL |
|
Factory Fax No |
NIL |
|
Warehouse |
Jamirdia,
Bhaluka, Mymensingh |
DIRECTORS
|
Name |
Mr. Kutub Uddin
Ahmed |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abdus Salam
Murshedi |
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Designation |
Managing Director |
|
Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Kutub Uddin
Ahmed |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abdus Salam
Murshedi |
|
Share Percent |
60% |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer, Exporter & Seller |
|
Items Dealing In |
Fabrics |
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Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
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Terms of Sale |
Local: Cash or Credit Export: Against L/C |
|
Export |
Turkey |
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Import of Raw
Material |
Viet Nam |
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Production
Capacity |
24 million yards per Year |
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Last Year Production |
24 million yards |
|
Customer |
Wholesaler,
Retailers, End Users |
BANKERS
|
Name |
The Premier Bank Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A, Dhaka |
|
SWIFT |
N/A |
|
Name |
Pubali Bank |
|
Branch |
Dhaka Branch |
FINANCIAL INFORMATION
|
Year |
2011 |
2010 |
|
Turnover |
Tk.191 Crore |
Tk.334 Crore |
CAPITAL STRUCTURE
Not Divulged
Information parted by
Name : Mr. Faisal
Designation : Finance Head
Contact No. : 880-29102583
Date : 31.12.2011
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
126.5601 |
|
U.S Dollar |
1 |
81.9000 |
|
European Euro |
1 |
105.9786 |
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$ 50,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
740 |
|
Office Area (Sq.
Ft) |
3,300 (Owned) |
|
Factory Area
(Sq. Ft) |
20 acres of land (own) |
|
Warehouse Area
(Sq. Ft) |
7,600 (own) |
|
Range of
Products |
4 Ring yarns 4 Open-end yarns 4 Slubs 4 Mixed Warps 4 Multi-count yarns 4 Colored wefts |
|
Major Clients |
4 Local Export Oriented Ready-Made Garment Industries |
|
Export Market |
4 Germany 4 Turkey 4 Sri Lanka 4 India |
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Certifications |
NIL |
|
Group Name |
4 Envoy Group |
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Subsidiaries /
Affiliates |
4 Fountain Water Ltd 4 Platinum Suits (2006) 4 Envoy Design Ltd 4 Envoy Fashions Ltd 4 Manta Apparels Ltd 4 Olio Apparels Ltd 4 Fontina Fashions Ltd 4 Information Technology Consultants
Ltd 4 Emerald Trading Ltd 4 Dornick Apparels Ltd 4 Pinata Air International Ltd 4 Peridot International Ltd 4 Pastel Apparels Ltd 4 National System Solutions (Pvt.)
Ltd 4 Armour Garments Ltd 4 OIA Global Logistics (BD) Ltd 4 Laundry Industries Ltd 4 Supreme Apparels Ltd 4 Epoch Garments Ltd 4 Regal Garments Ltd 4 Astras Garments Ltd 4 Sheltech (Pvt.) Ltd 4 Nadia Garments Ltd 4 Lunar International Ltd 4 Envoy Garments Ltd |
|
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.53.26 |
|
|
1 |
Rs.82.10 |
|
Euro |
1 |
Rs.68.90 |
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 SCs 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.