MIRA INFORM REPORT

 

 

Report Date :

07.01.2011

 

IDENTIFICATION DETAILS

 

Name :

MATEX BANGLADESH LIMITED

 

 

Registered Office :

Biman Bhaban (5th Floor), 100, Motijheel Commercial Area, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

11.08.1994

 

 

Com. Reg. No.:

C-26414

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturing and selling of textile resin chemicals & auxiliaries.

 

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$ 35,000.00

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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

Matex Bangladesh Limited

Address

Biman Bhaban (5th Floor), 100, Motijheel Commercial Area, Dhaka-1000

Country

Bangladesh

Telephone No

880-2-9562383

Fax No

880-2-9558365, 9562213, 9562387

E-Mail

researchdevelopment@matexbd.com

Website

www.matexbd.com

Established

1994

Company Registration No

C-26414

Registration date

11th August, 1994

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.

 

 

LOCATIONS

 

Head Office

Biman Bhaban (5th Floor), 100, Motijheel Commercial Area, Dhaka-1000

Telephone No

880-2-9562383

Fax No

880-2-9558365, 9562213, 9562387

E-Mail

researchdevelopment@matexbd.com

Website

www.matexbd.com

Branch 

NIL

Shipyard

East Chandora, Shafipur, Kaliakoir, Gazipur, Bangladesh

Factory Telephone No

N/A

Factory Fax No

N/A

Warehouse

East Chandora, Shafipur, Kaliakoir, Gazipur, Bangladesh

 

DIRECTORS

 

Name

Mr. Zafar Ahmed

Designation

Chairman

Nationality

Bangladeshi

 

 

Name

Mr. Zahur Ahmed

Designation

Managing Director

Nationality

Bangladeshi

 

 

Name

Mrs. Shawkat Ara Ahmed

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Zubair Ahmed

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Shahriar Ahmed

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Muhammad Bazlush Shahid

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Mr. Zafar Ahmed

Share Percent

30%

Nationality

Bangladeshi

 

 

Name

Mr. Zahur Ahmed

Share Percent

30%

Nationality

Bangladeshi

 

 

Name

Mrs. Shawkat Ara Ahmed

Share Percent

10%

Nationality

Bangladeshi

 

 

Name

Mr. Zubair Ahmed

Share Percent

10%

Nationality

Bangladeshi

 

 

Name

Mr. Shahriar Ahmed

Share Percent

10%

Nationality

Bangladeshi

 

 

Name

Mr. Muhammad Bazlush Shahid

Share Percent

10%

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturer & Seller

Items Dealing In

Textile Resin Chemicals

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Local: Cash or credit

 

 

BANKERS

 

Name

Standard Chartered Bank

Branch

Motijheel Branch

Address

Motijheel Commercial Area, Dhaka

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2009

2008

 

2007

Investment

Tk.62 million

Tk.61 million

Tk.61 million

Turnover

Tk.222.9 million

Tk.221.2 million

Tk.220.8 million

Liability

Tk.18.5 million

Tk.19 million

Tk.19.8 million

Assets

Tk.67 million

Tk.65 million

Tk.65 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.50 million

Paid Up Capital

Tk.1 million

Each Share Value

Tk.100.00

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

111.0123

U.S Dollar

1

70.3500

European Euro

1

93.7906

 

 

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$ 35,000.00

90 Days

 

 

GENERAL INFORMATION

 

Employees

240

Office Area (Sq. Ft)

1,200 sq.ft (rented)

Yard Area (Sq. Ft)

14,000 sq.ft (Own)

Warehouse Area (Sq. Ft)

2,100  sq.ft.(Own)

Range of Products

4 Textile Resin Chemicals

4 Textile Auxiliaries

Major Clients

4  Local Industries

Scrap Import From

4 Korea

4 China

4 Japan

4 India

4 EEC Countries

Certification

NIL

Holding Company

4 Apex Holdings Limited

Subsidiaries / Affiliates

4 Apex Foods Limited

4 Apex Spinning & Knitting Mills Limited

4 Apex Lingerie Limited

4 Apex Yarn Dyeing Limited

4 Apex Textile Printing Mills Limited

Member

4 Dhaka Chamber of Commerce & Industries, Dhaka

4 Bangladesh Textile Mills Association, Dhaka

 

 

COMMENTS

 

The subject is a private limited company who is engaged in manufacturing and selling of textile resin chemicals & auxiliaries. The company’s factory is most modern and their products are of very high quality. The subject is a concern of Apex holdings Ltd.

 

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 commitments, it is reported.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.31

UK Pound

1

Rs.70.26

Euro

1

Rs.59.56

 

 

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

 

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.