MIRA INFORM REPORT
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Report Date : |
28.05.2011 |
IDENTIFICATION DETAILS
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Name : |
AKIJ TEXTILE MILLS LIMITED |
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Registered Office : |
Akij Chamber, 73, Dilkusha Commercial Area, Dhaka-1000 |
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Country : |
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Date of Incorporation : |
26.02.1995 |
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Com. Reg. No.: |
C-27926 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Manufacturer, Seller & Exporter of Yarns |
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$ 26,000.00 |
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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 |
Akij Textile
Mills Limited |
|
Address |
Akij
Chamber, 73, Dilkusha Commercial Area, Dhaka-1000 Note: The subject
operates from this address. |
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Country |
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Telephone No |
8802-9567713,
9563008-9 |
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Fax No |
8802-7168349,
9572293 |
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E-Mail |
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Website |
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Established |
February 1995 |
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Company Registration No |
C-27926 |
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Registration date |
26th
February 1995 |
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Legal Status |
Private Limited |
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Issuing Authority |
The Registrar of Joint Stock of Companies & Firms, |
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Business Type |
Manufacturer, Seller & Exporter |
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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 |
Akij Chamber,
73, Dilkusha Commercial Area, Dhaka-1000 |
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Telephone No |
8802-9567713,
9563008-9 |
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Fax No |
8802-7168349,
9572293 |
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E-Mail |
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Website |
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Branch |
NIL |
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Factory |
Golora,
Charkhanda, |
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Factory Telephone No |
880-651-61004 |
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Factory Fax No |
880-651-61003 |
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Warehouse |
Golora,
Charkhanda, |
DIRECTORS
|
Name |
Mr. Sheikh
Baseeruddin |
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Designation |
Chairman &
Managing Director |
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Nationality |
Bangladeshi |
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Name |
Mrs.
Sakina Khatun |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr.
Sheikh Muinuddin |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr.
Sheikh Naseeruddin |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr.
Sheikh Aminuddin |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr.
Sheikh Azizuddin |
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Designation |
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Sheikh
Baseeruddin |
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Designation |
30% |
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Nationality |
Bangladeshi |
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Name |
Mrs.
Sakina Khatun |
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Designation |
20% |
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Nationality |
Bangladeshi |
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Name |
Mr.
Sheikh Muinuddin |
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Designation |
20% |
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Nationality |
Bangladeshi |
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Name |
Mr.
Sheikh Naseeruddin |
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Designation |
10% |
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Nationality |
Bangladeshi |
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Name |
Mr.
Sheikh Aminuddin |
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Designation |
10% |
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Nationality |
Bangladeshi |
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Name |
Mr.
Sheikh Azizuddin |
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Designation |
10% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer,
Seller & Exporter |
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Items Dealing In |
Yarns
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Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
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Terms of |
Local: Cash or Credit Export: Against L/C |
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Production
Capacity |
14,400,000
Kgs per year |
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Last Year
Production |
14,400,000
Kgs |
BANKERS
|
Name |
Janata
Bank Limited |
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Branch |
Local
Office Branch |
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Address |
Dilkusha Commercial Area, |
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SWIFT |
N/A |
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Name |
Sonali
Bank Limited |
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Branch |
Principal
Branch |
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Address |
Dilkusha Commercial Area, |
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SWIFT |
N/A |
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Name |
Islami
Bank ( |
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Branch |
Principal
Branch |
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Address |
Dilkusha Commercial Area, |
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SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2009 |
2008 |
2007 |
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Investment |
Tk.87 million |
Tk.87 million |
Tk.85 million |
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Turnover |
Tk.532 million |
Tk.531.6 million |
Tk.530.2 million |
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Liability |
Tk.29.2 million |
Tk.30 million |
Tk.32 million |
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Assets |
Tk.132 million |
Tk.132 million |
Tk.130 million |
* The subject has flatly refused to reveal any financial information. Whatever shown here are collected unofficially and as such its authenticity could not be verified.
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.500 million |
|
Paid Up Capital |
Tk.300,000.00 |
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Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
|
1 |
118.4070 |
|
U.S Dollar |
1 |
72.8300 |
|
European Euro |
1 |
105.4433 |
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$ 26,000.00 |
90 days |
GENERAL INFORMATION
|
Employees |
1,600 |
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Office Area (Sq.
Ft) |
5,100 sq.ft (own) |
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Factory Area
(Sq. Ft) |
3.8 acres lands (own) |
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Warehouse Area
(Sq. Ft) |
4,600 sq.ft.(own) |
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|
4 Ring Yarn 4 Autocoro & Rotor Yarn |
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Major Clients |
4 Local Export Oriented Knit & Woven Garments Industries |
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Certifications |
NIL |
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Group Name |
4 Akij Group |
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Subsidiaries /
Affiliates |
4 Akij Jute Mills Ltd 4 Akij Food & Beverage Ltd. 4 Akij Particle Board Mills Ltd. 4 Akij Cement Company Ltd. 4 Dhaka Tobacco Industries Ltd. 4 Leaf Processing Plant 4 Akij Shipping Ltd. 4 Akij Corporation Ltd. 4 Akij Printing & Packages Ltd. 4 Akij Poly Fibre Ltd. 4 Akij Match Factory Ltd. 4 Akij Transport Agency Ltd. 4 Akij Online Ltd. 4 Akij Jarda Factory Ltd. 4 Akij Biri Factory 4 Akij Pharmaceuticals Ltd. 4 Saf Industries Ltd. 4 Akij Clorite Ltd. 4 Nebula Ink Ltd. 4 Savar Industries (Pvt.) Ltd. 4 Akij Securities Ltd. 4 Akij Footwear Ltd. |
|
Member |
4 4 Dhaka Chamber of Commerce &
Industries, |
COMMENTS
The subject is a private limited company engaged in
manufacturing, exporting and selling of yarns. The yarns produced by the subject
are sold to the export oriented knit & woven garments industry. The subject
is a concern of Akij Group, a renowned business house of
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.45.21 |
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|
1 |
Rs.74.31 |
|
Euro |
1 |
Rs.64.40 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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.