MIRA INFORM
REPORT
|
Report Date : |
15.01.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
SIKDER APPAREL HOSIERY LTD |
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Registered Office : |
1101/1 Shahar Khilgaon, Malibag Chowdhury |
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Country : |
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Date of Incorporation : |
28.03.1998 |
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Com. Reg. No.: |
C-35971 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
manufacturing
and exporting of ready-made
garments |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 30,000.00 |
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 |
Sikder Apparel Hosiery Ltd Note: The subject operates by this name. |
|
Address |
Khadun
Tarabo, Rupgonj, Narayangonj |
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Country |
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Telephone No |
06725 – 88180 |
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Fax No |
06725 – 88180 |
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E-Mail |
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|
Website |
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Established |
1998 |
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Company Registration No |
C-35971 |
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Registration date |
28th
March 1998 |
|
Legal Status |
Private Limited |
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Issuing Authority |
The Registrar of Joint Stock Companies & Firms, |
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Business Type |
Manufacturing
& Exporting |
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Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
1101/1
Shahar Khilgaon, Malibag Chowdhury Para, Dhaka–1219, |
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Telephone No |
880-2-9337431-32
& 8312061 |
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Fax No |
880-2-8313642 & 9332626 |
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E-Mail |
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|
Website |
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Branch |
NIL |
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Factory |
Khadun Tarabo,
Rupgonj, Narayangonj |
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Factory Telephone No |
NIL |
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Factory Fax No |
NIL |
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Warehouse |
Khadun Tarabo,
Rupgonj, Narayangonj |
DIRECTORS
|
Name |
Mr. Sikder
Shahidul Haq |
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Designation |
Chairman &
Managing Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Rezaul Karim |
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Designation |
Deputy Managing
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. M.A. Rouf |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Mansur Rahman |
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Designation |
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Shahidul Haq
Sikder |
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Share Percent |
40% |
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Nationality |
Bangladeshi |
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|
Name |
Mr. Rezaul Karim |
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Share Percent |
20% |
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Nationality |
Bangladeshi |
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Name |
Mr. M.A. Rouf |
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Share Percent |
20% |
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Nationality |
Bangladeshi |
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Name |
Mr. Mansur Rahman |
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Share Percent |
20% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturing
& Exporting |
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Items Dealing In |
Ready-made Garments |
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Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
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Terms of |
Export: Against L/C |
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Production
Capacity |
80,000.00 dozens
per year |
|
Last Year
Production |
80,000.00 dozens |
BANKERS
|
Name |
United
Commercial Bank Limited |
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Branch |
Principal Branch |
|
Address |
Motijheel Commercial Area, |
|
SWIFT |
UCBLBDDHPRB |
FINANCIAL INFORMATION
|
Year |
2009 |
2008 |
2007 |
|
Investment |
Tk.53.4 million |
Tk.52 million |
Tk.52 million |
|
Turnover |
Tk.427.4 million |
Tk.426.7 million |
Tk.426 million |
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Liability |
NIL |
NIL |
NIL |
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Assets |
Tk.62 million |
Tk.60 million |
Tk.60 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.30 million |
|
Paid Up Capital |
Tk.250,000.00 |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
|
1 |
111.9315 |
|
U.S Dollar |
1 |
71.0000 |
|
European Euro |
1 |
93.2656 |
ADVERSE DATA MONITORING
|
Dishonored Checks |
No Found |
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Debt |
No Records Found |
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Litigation |
No Records Found |
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Performance
Defaults |
No Records Found |
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Adverse Press
Coverage |
No Records Found |
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Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based On |
|
US$ 30,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
6,000 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (rented) |
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Factory Area
(Sq. Ft) |
56,000 sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
7,000 sq.ft.(own) |
|
|
Knit
Fabric: 4 Single 4 Double 4 Pique 4 Lapique 4 Honey comb 4 Rib 4 Cotton Fleece 4 Spandex 4 Haring boon 4 Drop needle 4 Fancy design 4 French terry 4 2 thread fleece and semi jacquard
design. 4 Knitted Top & Bottom for
kid’s, boy’s, girl’s, lady’s and men’s items |
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Export Market |
4 4 Zellers 4 Norwest 4 Wal-Mart 4 Sears 4 Tex-Ibo 4 4 Eurocentra 4 Mark’swork
Wearhouse Ltd 4 Next &
George |
|
Fabrics &
Accessories |
4 4 4 4 4 4 Local Sources |
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Certifications |
NIL |
|
Group Name |
4 Sikder Group of Companies |
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Subsidiaries /
Affiliates |
4 Sikder
Creation Ltd 4 Sikder
Fashion Wear Ltd 4 Sikder
Apparel Ltd 4 Sikder
Classic Dyeing & Knitting (Pvt) Ltd [Uint-1] 4 Sikder
Classic Dyeing & Knitting (Pvt) Ltd [Uint-2] 4 Sikder
Computerized Label Ltd 4 Sikder
Accessories Ltd 4 Sikder
Salt Industries 4 Shahidul
Hoque Sikder Securities Exchange Ltd 4 S.H.S.
Filling station 4 Sikder
Agrobased Farm |
|
Member |
4 Dhaka Chamber of Commerce &
Industries, 4 |
COMMENTS
The subject is a private limited company engaged in
manufacturing and exporting of ready-made garments to overseas countries. The
qualities of their products are good and have good demand among their clients.
The directors are well conversant in their line of trade and
they are also experienced businessman.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.30 |
|
|
1 |
Rs.71.73 |
|
Euro |
1 |
Rs.60.40 |
RATING EXPLANATIONS
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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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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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.