MIRA INFORM REPORT
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Report Date : |
16.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
DRAGON SWEATER & SPINNING LIMITED |
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Registered Office : |
Dragon Tower, 25/2 DIT Road, Malibagh Chowdhury Para, Dhaka-1219 |
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Country : |
Bangladesh |
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Date of Incorporation : |
16.06.1999 |
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Com. Reg. No.: |
C-37951 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and Exporting Ready-Made Sweaters |
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$ 30,000.00 |
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|
Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COMPANY DETAILS
|
Name |
Dragon Sweater
& Spinning Limited |
|
Address |
Dragon Tower, 25/2 DIT Road, Malibagh Chowdhury Para, Dhaka-1219 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9331404,
9346815 |
|
Fax No |
880-2-8311929 |
|
E-Mail |
|
|
Website |
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Established |
June 1999 |
|
Company Registration No |
C-37951 |
|
Registration date |
16th
June 1999 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer
& Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Head Office |
Dragon Tower, 25/2 DIT Road, Malibagh Chowdhury Para, Dhaka-1219 |
|
Telephone No |
880-2-9331404,
9346815 |
|
Fax No |
880-2-8311929 |
|
E-Mail |
|
|
Website |
www.dragon-sweater.net |
|
Branch |
4 London 4 China |
|
Factory |
Chandul,
Mia bazaar, District: Comilla |
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Factory Telephone No |
N/A |
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Factory Fax No |
N/A |
|
Warehouse |
Chandul, Mia
bazaar, District: Comilla |
DIRECTORS
|
Name |
Mr. Mostafa
Golam Quddus |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Mostafa
Qamrus Sobhan |
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Designation |
Managing
Director |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Ms. Fouzia
Quamrun Tania |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. Mostafa
Golam Quddus |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mostafa
Qamrus Sobhan |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Ms. Fouzia
Quamrun Tania |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturing
& Exporting |
|
Items Dealing In |
Ready-made Sweaters |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Export: Against L/C |
|
Production Capacity
|
210,000 dozens
per year |
|
Last Year
Production |
210,000 dozens |
BANKERS
|
Name |
Agrani Bank
Limited |
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Branch |
Main Branch |
|
Address |
Motijheel Commercial Area, Dhaka |
|
SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2010 |
2009 |
2008 |
|
Investment |
Tk.43 million |
Tk.42 million |
Tk.42 million |
|
Turnover |
Tk.352 million |
Tk.350.6 million |
Tk.350 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.64 million |
Tk.60 million |
Tk.60 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.100 million |
|
Paid Up Capital |
Tk.5,000,000 |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
119.6130 |
|
U.S Dollar |
1 |
74.2200 |
|
European Euro |
1 |
104.6131 |
ADVERSE DATA MONITORING
|
Dishonored
Checks |
No Found |
|
Debt |
No Records Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based On |
|
US$ 30,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
2,210 |
|
Office Area (Sq.
Ft) |
1,200 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
59,900 sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
5,000 sq.ft.(own) |
|
Range of
Products |
4 Cardigans 4
Sweaters 4 Pullovers 4 Children Sweaters |
|
Export Market |
4 George 4 C & A 4 PRIMARK 4 A Wear 4 Auchan 4 Ginkana 4
Dunnesstores 4 ZEEMAN
Fashion 4 Pimkie 4 Mackays
4
Peacocks 4 Arcadia
Group Limited 4 ZARA 4 BSK 4
Sainbury’s 4 mk One 4
Fenchurch 4
Internacionale |
|
Fabrics &
Accessories |
4 Hong Kong 4 China 4 Singapore 4 Thailand 4 Pakistan |
|
Certifications |
NIL |
|
Group Name |
4 Dragon Group |
|
Subsidiaries / Affiliates |
4 CD Acrylic Bangladesh Limited 4 Apparel Asia Pty Limited 4 Imperial Sweater Bangladesh
Limited 4 CD Spinning Limited 4 Dragon Sweater Bangladesh
Limited 4 Mount Sky Limited, London 4 Rupali Insurance Company Limited 4 Perag Socks Limited |
|
Member |
4 Bangladesh
Garments Manufacturers & Exporters Association, Dhaka 4 Dhaka Chamber
of Commerce & Industries, Dhaka |
COMMENTS
The subject is a family owned private limited company who is
engaged in manufacturing and exporting ready-made sweaters. The qualities of
their products are good and they are well known in overseas sweaters markets.
The company’s factory is well equipped with the modern machineries.
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.47.84 |
|
UK Pound |
1 |
Rs.75.40 |
|
Euro |
1 |
Rs.65.68 |
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 |
|
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 |
---- |
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.