MIRA INFORM REPORT

 

 

Report Date :

01.08.2012

 

IDENTIFICATION DETAILS

 

Name :

BLUE OCEAN FOOTWEAR LIMITED

 

 

Registered Office :

House No. 06, Road No.137, Block. SE(D) Gulshan -1, Dhaka-1212

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

16.10.2007

 

 

Com. Reg. No.:

C-81039

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturing, Exporting & Selling of Footwear

 

 

No. of Employees :

2,500

 

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

 

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

Blue Ocean Footwear Limited

Address

House No. 06, Road No.137, Block. SE(D) Gulshan -1, Dhaka-1212

Country

Bangladesh

Telephone No

880-2-8820300, 8821591, 8828258

Fax No

880-2-8813038

E-Mail

info@apexadelchi.com

Website

www.apexadelchi.com, www.blueoceanfootwear.com

Established

2007

Company Registration No

C-81039

Registration date

16th October 2007                 

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Dhaka 

Business Type

Manufacturer, Seller & Exporter 

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

House No. 06, Road No.137, Block. SE(D) Gulshan -1, Dhaka-1212, Bangladesh

Telephone No

880-2- 8820300, 8821591, 8828258

Fax No

880-2- 8813038

E-Mail

info@apexadelchi.com

Website

www.apexadelchi.com

Branch

NIL

Factory

Chandra, P.S. Kaliarkoir, District: Gazipur

Factory Tel No

N/A

Factory Fax No

N/A

Warehouse

Chandra, P.S. Kaliarkoir, District: Gazipur

 

DIRECTORS

 

Name

Mr. Syed Manzur Elahi

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Syed Nasim Manzur

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Niloufer Manzur 

Designation

Director

Nationality

Bangladeshi

 

 

SHAREHOLDERS

 

Name

Apex Enterprise Limited

Share Percent

50%

Country

Bangladesh

 

 

Name

Green Ocean International Limited

Share Percent

50%

Country

N/A

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturing, Exporting & Selling

Items Dealing In

Footwear

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Purchase

Local: Cash or Credit

Export: Against L/C

 

BANKERS

 

Name

Mutual Trust Bank Limited

Branch

Gulshan Branch

Address

Gulshan, Dhaka

SWIFT

N/A

 

 

Name

Prime Bank Limited

Branch

Local Office Branch

Address

Motijheel Commercial Area, Dhaka

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2010

2009

 

2008

Investment

Tk.56 million

Tk.55 million

Tk.55 million

Turnover

Tk.452 million

Tk.450.6 million

Tk.450 million

Liability

Tk.11.7 million

Tk.13.6 million

Tk.14 million

Assets

Tk.72 million

Tk.70 million

Tk.70 million

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.5 million

Paid Up Capital

Tk.250,000.00    

Each Share Value

Tk.100.00

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

128.5092

U.S Dollar

1

81.7125

European Euro

1

100.5309

 

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

 

 

GENERAL INFORMATION

 

Employees

2,500

Office Area (Sq. Ft)

2,800 sq ft

Plant Area (Sq. Ft)

2,80,545 sq.ft

Warehouse Area (Sq. Ft)

3,500 sq.ft. (rented)

Range of Products

4 Fashionable Leather Footwear

Export Market

4 Germany

4 France

4 Italy

4 Austria

4 Scandinavia and Switzerland

4 Other EU countries

4 Japan

4 USA

4 Canada

Certifications

NIL

Group Name

4 Apex Group

Subsidiaries / Affiliates

4 Apex Tannery Limited (ATL)

4 Apex Adelchi Footwear Bangladesh Limited (AAFL)

4 Grey Advertising Bangladesh Limited (GABL)

4 Apex Pharma Limited (APL)

4 Quantum Market Research Bangladesh Limited

4 Apex Investments Limited

4 Apex Enterprises Limited

Member

4 Bangladesh Footwear Manufacturers Association 

4 Dhaka Chamber of Commerce & Industries, Dhaka

 

 

 

 

BUSINESS TREND & PROSPECT

 

Business Scale           

Fairly Large

Business Trend

Growing

Management Capability

Good

Reputation

Good

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.81

UK Pound

1

Rs.87.67

Euro

1

Rs.68.45

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.