MIRA INFORM REPORT
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Report Date : |
11.04.2012 |
IDENTIFICATION DETAILS
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Name : |
IRIS FABRICS LIMITED |
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Registered Office : |
House-371, Road-6, DOHS, Baridhara,
Dhaka-1206 |
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Country : |
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Date of Incorporation : |
12.04.2006 |
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Com. Reg. No.: |
C-59314 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer & Exporter of Ready-Made Garments |
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No. of Employees
: |
1,560 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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$ 32,000.00 |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
|
Name |
Iris Fabrics
Limited |
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Address |
Zirani Bazar, Joydevpur, Kashimpur, Gazipur |
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Country |
Bangladesh |
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Telephone No |
880-2-9886015, 9891992-3, 9891190 |
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Fax No |
880-2-7788141 |
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E-Mail |
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Website |
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Established |
April 2006 |
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Company Registration No |
C-59314 |
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Registration date |
12th
April 2006 |
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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 & 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. |
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Head Office |
House-371,
Road-6, DOHS, Baridhara, Dhaka-1206 |
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Telephone No |
880-2-7788149 |
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Fax No |
880-2-9860062 |
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E-Mail |
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Website |
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Branch |
NIL |
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Factory |
Zirani Bazar, Joydevpur, Kashimpur, Gazipur |
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Factory Telephone No |
NIL |
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Factory Fax No |
NIL |
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Warehouse |
Zirani Bazar, Joydevpur, Kashimpur, Gazipur |
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Name |
Al-Haj Abdul
Kader |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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Name |
Mr. Mohammad
Rasheed Alam |
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Designation |
Managing Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Mohammad
Abdul Mazed |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Al-Haj Abdul
Kader |
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Share Percent |
33.33% |
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Nationality |
Bangladeshi |
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Name |
Mr. Mohammad
Rasheed Alam |
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Share Percent |
33.33% |
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Nationality |
Bangladesh |
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Name |
Mr. Mohammad
Abdul Mazed |
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Share Percent |
33.33% |
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Nationality |
Bangladesh |
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Line of Business |
Manufacturer & 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 Sale |
Export: Against L/C |
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Name |
Prime Bank
Limited |
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Branch |
Main
Branch |
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Address |
Motijheel C/A, Dhaka |
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SWIFT |
N/A |
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Year |
2011 |
2010 |
2009 |
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Investment |
Tk.30 million |
Tk.30 million |
Tk.27 million |
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Turnover |
Tk.260.6 million |
Tk.260 million |
Tk.256.7 million |
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Liability |
NIL |
NIL |
NIL |
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Assets |
Tk.45 million |
Tk.45 million |
Tk.42 million |
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Authorized
Capital |
Tk.10 million |
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Paid Up Capital |
Tk.200,00.00 |
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Each Share Value |
Tk.100.00 |
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Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
130.1179 |
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U.S Dollar |
1 |
81.8300 |
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European Euro |
1 |
107.2955 |
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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 |
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Amount |
Based On |
|
US$ 32,000.00 |
90 Days |
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Employees |
1,560 |
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Office Area (Sq.
Ft) |
2,400 sq.ft (rented) |
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Factory Area
(Sq. Ft) |
90,000 sq.ft (rented) |
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Warehouse Area
(Sq. Ft) |
3,800 sq.ft.(rented) |
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Range of
Products |
4 Basic Shirts 4 T-Shirts 4 Polo-Shirts 4 Tank
Top 4 Nightgown 4 Fleece
Shirts 4 Sweet
Shirts |
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Export Market |
4 Signal – Denmark 4 Peppercorn – Denmark 4 Liwe Espanola
– Spain 4 Srg Imports – U.K 4 Bernardi SPA – Italy |
|
Fabrics &
Accessories |
4 Hong Kong 4 China 4 South Korea |
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Certifications |
NIL |
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Group Name |
4 Iris Group |
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Subsidiaries /
Affiliates |
4 MK Fashion Limited 4 Kaizer Knitwear Limited 4 Iris Knitwear Limited 4 Iris Fashion Limited 4 Iris Knitwear Limited 4 SS Print |
|
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.51.20 |
|
UK Pound |
1 |
Rs.81.50 |
|
Euro |
1 |
Rs.67.15 |
RATING EXPLANATIONS
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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 |
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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 |
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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.