MIRA INFORM REPORT
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Report Date : |
11.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
FAKHRUDDIN TEXTILE MILLS LIMITED |
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Registered Office : |
235/B, Tejgaon Industrial Area , Tejgaon, Dhaka-1208 |
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Country : |
Bangladesh |
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Date of Incorporation : |
02.04.2001 |
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Com. Reg. No.: |
C-42785 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
manufacturing and selling of fabrics |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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$ 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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Bangladesh |
b1 |
b1 |
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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 |
Fakhruddin
Textile Mills Limited |
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Address |
Ghorghria Master Bari, Kewa, Sreepur, Gazipur |
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Country |
Bangladesh |
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Telephone No |
880-2-9885629,
9882471, 9885716 |
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Fax No |
880-2-8826354 |
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E-Mail |
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|
Website |
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Established |
2001 |
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Company Registration No |
C-42785 |
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Registration date |
2nd
April 2001 |
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Legal Status |
Private Limited |
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Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Dhaka |
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Business Type |
Manufacturer & Seller |
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Status |
Satisfactory |
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Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
235/B,
Tejgaon Industrial Area , Tejgaon, Dhaka-1208 |
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Telephone No |
880-2-9885629,
9882471, 9885716 |
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Fax No |
880-2-8826354 |
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E-Mail |
|
|
Website |
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Branch |
NIL |
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Factory |
Ghorghria Master Bari, Kewa, Sreepur, Gazipur |
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Factory Telephone No |
NIL |
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Factory Fax No |
NIL |
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Warehouse |
Ghorghria Master Bari, Kewa, Sreepur, Gazipur |
DIRECTORS
|
Name |
Mr. Asif
Arshad |
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Designation |
Chairman & Managing Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Shamshul
Alam |
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Designation |
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Asif
Arshad |
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Share Percent |
70% |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Shamshul
Alam |
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Share Percent |
30% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer & Seller |
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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 |
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Production Capacity |
1.65 million
pounds per year |
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Last Year
Production |
1.65 million
pounds |
BANKERS
|
Name |
Islami Bank
Bangladesh Ltd |
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Branch |
Motijheel Branch |
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Address |
Motijheel Commercial Area, Dhaka |
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SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2009 |
2008 |
2007 |
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Investment |
Tk.45 million |
Tk.45 million |
Tk.42 million |
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Turnover |
Tk.332.6 million |
Tk.332 million |
Tk.330 million |
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Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.52 million |
Tk.52 million |
Tk.50 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.50 million |
|
Paid Up Capital |
Tk.200,000.00 |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
121.1632 |
|
U.S Dollar |
1 |
73.8800 |
|
European Euro |
1 |
107.6949 |
ADVERSE DATA MONITORING
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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$ 25,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
300 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (rented) |
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Factory Area
(Sq. Ft) |
35,000 Sq.Ft. (rented) |
|
Warehouse Area
(Sq. Ft) |
6,500 sq.ft.(rented) |
|
Range of
Products |
4 Fabrics |
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Major
Clients |
4 Local Export Oriented Garments
Industries |
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Raw Materials
From |
4 Pakistan 4 India 4 Uzbekistan 4 Russia |
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Certifications |
NIL |
|
Group Name |
4 Urmi Group |
|
Subsidiaries /
Affiliates |
4 Urmi
Garments Ltd 4 Attires
Manufacturing Company Ltd 4 Urmi
Shipping Co., Ltd 4 Urmi
Apparels Ltd 4 Arunachal
Agencies Ltd |
|
Member |
4 Bangladesh Textile Mills Association,
Dhaka 4 Dhaka Chamber of Commerce &
Industries, Dhaka |
COMMENTS
The subject is a private limited company who is engaged in
manufacturing and selling of fabrics. The qualities of their products are good and
they are well known in local markets. The subject is a concern of Urmi Group.
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.44.72 |
|
UK Pound |
1 |
Rs.72.93 |
|
Euro |
1 |
Rs.64.72 |
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 |
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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 |
|
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 |
|
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 |
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<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.