MIRA INFORM REPORT
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Report Date : |
26.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
ARGON DENIMS LIMITED |
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Registered Office : |
Plot No.33, Section-7, Mirpur, Dhaka-1216 |
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Country : |
Bangladesh |
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Date of Incorporation : |
13.07.2006 |
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Com. Reg. No.: |
C-62713 |
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Legal Form : |
private limited company |
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Line of Business : |
manufacturing and exporting of denim fabrics |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 |
Argon Denims Limited |
|
Address |
Plot No.33, Section-7, Mirpur, Dhaka-1216 |
|
Country |
Bangladesh |
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Telephone No |
880-2-8011227,
9004405 |
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Fax No |
880-2-8013504 |
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E-Mail |
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|
Website |
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Established |
2006 |
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Company Registration No |
C-62713 |
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Registration date |
13th
July 2006 |
|
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 & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
Plot No.33, Section-7, Mirpur, Dhaka-1216 |
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Telephone No |
880-2-8011227,
9004405 |
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Fax No |
880-2-8013504 |
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E-Mail |
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|
Website |
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Sales Office |
Lotus Kamal Tower (1st Floor), 57 Joar Shahara C/A,
Nikunja-2, New Airport Road, Dhaka-1229 |
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Factory |
Plot No.33, Section-7, Mirpur, Dhaka-1216 |
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Factory Telephone No |
N/A |
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Factory Fax No |
N/A |
|
Warehouse |
Plot No.33, Section-7, Mirpur, Dhaka-1216 |
DIRECTORS
|
Name |
Mr. Anwarul Alam
Chowdhury |
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Designation |
Chairman & Managing Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Ashraf
Hossain Mridha |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Badrul Alam
Chowdhury |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Abu Kawser
Majumder |
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Designation |
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Anwarul Alam
Chowdhury |
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Share Percent |
40% |
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Nationality |
Bangladeshi |
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|
Name |
Mr. Ashraf
Hossain Mridha |
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Share Percent |
20% |
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Nationality |
Bangladeshi |
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Name |
Mr. Badrul Alam
Chowdhury |
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Share Percent |
20% |
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Nationality |
Bangladeshi |
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Name |
Mr. Abu Kawser
Majumder |
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Share Percent |
20% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer & Exporter |
|
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 |
Export: Against L/C |
BANKERS
|
Name |
Prime Bank Limited |
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Branch |
Main Branch |
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Address |
Motijheel Commercial Area, Dhaka |
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SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2009 |
2008 |
2007 |
|
Investment |
Tk.32 million |
Tk.30 million |
Tk.30 million |
|
Turnover |
Tk.312 million |
Tk.310.4 million |
Tk.310 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.50 million |
Tk.48 million |
Tk.48 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.250,000.00 |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
118.7450 |
|
U.S Dollar |
1 |
73.3900 |
|
European Euro |
1 |
103.5313 |
ADVERSE DATA MONITORING
|
Dishonored
Checks |
No Found |
|
Debt |
No Records Found |
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Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
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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 |
800 |
|
Office Area (Sq.
Ft) |
1,550 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
28,400 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
3,100 sq.ft.(rented) |
|
Range of
Products |
4 Denim Fabrics |
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Export
Market |
4 USA 4 UK 4 Canada |
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Certification |
NIL |
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Group Name |
4 Evince Group |
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Subsidiaries /
Affiliates |
4 Evince Textile
Limited 4 Evitex
Ploycot Ltd 4 Evince
Suise Ltd 4 Evince
Garments Ltd 4 Evince
Ltd 4 Evince
Dress Shirts Ltd 4 Evince
Ladies Wear Ltd 4 Evince
Apparels Ltd 4 Evince
Fashion Ltd 4 Evince
Buttons Industries Ltd 4 Evince Computerized
Labels Ltd 4 Etafil
Bangladesh Ltd 4 Design
Studio |
|
Member |
4
Bangladesh Textile Mills Association, Dhaka 4 Dhaka Chamber of Commerce &
Industries, Dhaka |
COMMENTS
The subject is private limited company who is engaged in manufacturing
and exporting of denim fabrics to overseas markets. The subject is a concern of
Evince 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.45.38 |
|
UK Pound |
1 |
Rs.73.31 |
|
Euro |
1 |
Rs.63.70 |
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 |
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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 |
|
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 |
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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.