MIRA INFORM REPORT

 

 

Report Date :           

16.04.2012

 

IDENTIFICATION DETAILS

 

Name :

EVINCE GROUP

 

 

Registered Office :

Plot No.33, Section-7, Mirpur, Dhaka-1216

 

 

Country :

Bangladesh

 

 

Year of Establishment :

1983

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

The subject is a Group Company, all unit of the subject is Private Limited Company 

 

 

Line of Business :

Manufacturer & Exporter of Ready-Made garments 

 

 

No. of Employees :

5,120

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 35,000.00

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY DETAILS

 

Name

Evince Group

Address

Plot No.33, Section-7, Mirpur, Dhaka-1216

Country

Bangladesh

Telephone No

880-2-8011227, 9004405

Fax No

880-2-8013504

E-Mail

sales@evincegroup.com

Website

www.evincegroup.com      

Established

1983

Company Registration No

N/A

Registration date

N/A

Legal Status

The subject is a Group Company, all unit of the subject is Private Limited Company 

Issuing Authority

The Registrar of joint Stock Companies, Dhaka

Business Type

Manufacturer, Exporter & Seller

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

Telephone No

880-2-8011227, 9004405

Fax No

880-2-8013504

E-Mail

sales@evincegroup.com

Website

www.evincegroup.com    

Branch 

NIL

Sales Office

Lotus Kamal Tower (1st Floor), 57 Joar Shahara C/A, Nikunja-2, New Airport Road, Dhaka-1229

Factory

Plot No.33, Section-7, Mirpur, Dhaka-1216

Factory Tel No

N/A

Factory Fax No

N/A

Warehouse

Plot No.33, Section-7, Mirpur, Dhaka-1216

 

DIRECTORS

 

Name

Mr. Anwarul Alam Chowdhury

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Ashraf Hossain Mridha

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Badrul Alam Chowdhury

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Kawser Majumder

Designation

Director

Nationality

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturer & Exporter

Items Dealing In

Ready-Made garments 

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Local: Cash or Credit

Export: Against L/C

 

 

BANKERS

 

Name

United Commercial Bank Ltd

Branch

Main Branch

Address

Motijheel Commercial Area, Dhaka

SWIFT

N/A

 

FINANCIAL INFORMATION

 

Year

2011

2010

 

2009

Investment

Tk.7 billion

Tk.7 billion

Tk.6.5 billion

Turnover

Tk.62.4 billion

Tk.62 billion

Tk.60 billion

Liability

NIL

NIL

NIL

Assets

Tk.12 billion

Tk.12 billion

Tk.10 billion

 

 

CAPITAL STRUCTURE

 

Authorized Capital

N/A

Paid Up Capital

N/A

Each Share Value

N/A

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

129.7016

U.S Dollar

1

81.8100

European Euro

1

107.0402

 

 

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$ 35,000.00

90 days

 

 

GENERAL INFORMATION

 

Employees

5,120

Office Area (Sq. Ft)

1,550 sq.ft (rented)

Factory Area (Sq. Ft)

68,000 sq.ft (rented)

Warehouse Area (Sq. Ft)

10,000  sq.ft.(rented)

Range of Products

4 Woven Shirts

4 Trousers

4 Jackets

4 Button

4 Labels

4 Dyed Yarn

4 Loom

4 Sizing

4 Warping

Export Market   

4 Sears, USA

4 K-Marts, USA

4 Wrangler, USA

4 Chaps, USA

4 Matalon, Europe

4 Tessco, Europe

4 NKD, Europe

4 Charles-Voogle, Europe 

Certifications

NIL

Group Name

NIL

Group Companies

4 Evince Textile Limited

4 Argon Denims Limited

4 Argon Spinning 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 Garments Manufacturers & Exporters Association,

    Dhaka

4 Dhaka Chamber of Commerce & Industries, Dhaka

 

 

BUSINESS TREND & PROSPECT

 

Business Scale           

Large

Business Trend

Growing

Management Capability

Good

Reputation

Good

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.42

UK Pound

1

Rs.81.93

Euro

1

Rs.67.67

 

 

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

----

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.