MIRA INFORM REPORT
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Report Date : |
22.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ADVANCED COMPOSITE TEXTILE LIMITED |
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Registered Office : |
759 Satmosjid Road (1st Floor), Dhanmondi, Dhaka-1209 |
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Country : |
Bangladesh |
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Date of Incorporation : |
13.09.2007 |
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Com. Reg. No.: |
C-61516 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Manufacturer and Exporter of Ready-Made Garments |
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$ 28,000.00 |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
Advanced
Composite Textile Limited |
|
Address |
Kashor, Master
Bari, Bhaluka, Mymensingh |
|
Country |
Bangladesh |
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Telephone No |
880-2-8152998,
8153000, 8153081 |
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Fax No |
880-2-8155278 |
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E-Mail |
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|
Website |
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Established |
September 2007 |
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Company Registration No |
C-61516 |
|
Registration date |
13th
September 2007 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The
Registrar of Joint Stock Companies & Firms, Dhaka, |
|
Business Type |
Manufacturer and
Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
LOCATIONS
|
Head Office |
759
Satmosjid Road (1st Floor), Dhanmondi, Dhaka-1209 |
|
Telephone No |
880-2-8152998,
8153000, 8153081 |
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Fax No |
880-2-8155278 |
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E-Mail |
|
|
Website |
|
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Branch |
NIL |
|
Factory |
Kashor, Master
Bari, Bhaluka, Mymensingh |
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Factory Telephone No |
880-1816-253030 |
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Factory Fax No |
NIL |
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Warehouse |
Kashor, Master
Bari, Bhaluka, Mymensingh |
DIRECTORS
|
Name |
Engr. Mohammad
Shoyabur Rahman Khan |
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Designation |
Chairman &
Managing Director |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Engr. Mohammad
Mahfuzur Rahman |
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Designation |
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Engr. Mohammad
Shoyabur Rahman Khan |
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Share Percent |
60% |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Engr. Mohammad
Mahfuzur Rahman |
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Share Percent |
40% |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer and
Exporter |
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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
Purchase |
Export: Against L/C |
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Production
Capacity: |
130,000 dozens
per year |
BANKERS
|
Name |
Agrani Bank
Limited |
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Branch |
Principal Branch |
|
Address |
Motijheel C/A, Dhaka-1000 |
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SWIFT |
AGBKBDDH001 |
FINANCIAL INFORMATION
|
Year |
2010 |
2009 |
2008 |
|
Investment |
Tk.32 million |
Tk.32 million |
Tk.30 million |
|
Turnover |
Tk.278.5 million |
Tk.278 million |
Tk.276 million |
|
Liability |
Tk.6.7 million |
Tk.7.1 million |
Tk.8 million |
|
Assets |
Tk.45 million |
Tk.45 million |
Tk.43 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.1 million |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
119.7959 |
|
U.S Dollar |
1 |
75.9500 |
|
European Euro |
1 |
104.4464 |
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 |
|
Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based On |
|
US$ 28,000.00 |
90 days |
GENERAL INFORMATION
|
Employees |
1,600 |
|
Office Area (Sq.
Ft) |
2,200 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
40,500 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
5,500 sq.ft (rented) |
|
Range of
Products |
4 T-Shirts 4 Polo
Shirts 4 Tank
Tops 4 Ruyby
Shirt 4 Sweat
Shirts 4 Shorts 4 Long
Pants |
|
Export Market |
4 Peter-Spain 4 Leverpool 4 SG Rassel-Germany 4 SG
Kwinted-Germany 4
K-Mart-USA 4
Joylu-Spain 4
JHKI-Spain 4 Zara-Spain 4 Zara
Goza-Spain 4
Jovaz-Spain 4
Sunnes—Spain 4
Wal-Mart-Canada 4
Wibra-The Netherlands 4
Sprider-Greece 4
Carrefoure-UK 4 Center
Textile Moliere-France 4
Heatons-Ireland 4
Collezione-Turkey |
|
Certifications |
4 ISO 9001:2000 |
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Group Name |
NIL |
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Subsidiaries /
Affiliates |
NIL |
|
Member |
4 Bangladesh Knitwear Manufacturers
& Exporters Association, Dhaka 4 Dhaka Chamber of Commerce &
Industries, Dhaka |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.07 |
|
UK Pound |
1 |
Rs.79.16 |
|
Euro |
1 |
Rs.69.04 |
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 |
|
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.