MIRA INFORM REPORT

 

 

Report Date :

14.08.2012

 

IDENTIFICATION DETAILS

 

Name :

YOUNGONES (BANGLADESH) LIMITED

 

 

Registered Office :

24, Agrabad C/A, Jahan Building # 2, Chittagong

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

05.03.1980

 

 

Com. Reg. No.:

C-8241

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer & Exporter of Ready-Made Garments

 

 

No. of Employees :

3,200 employees

 

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

Youngones (Bangladesh) Limited

Address

42-44 , Chandona, Joydebpur, Gazipur, Dhaka

Country

Bangladesh

Telephone No

880-2-9257350

Fax No

880-2-9256052

E-Mail

youngone@youngone.co.k

Website

www.youngone.co.k

Established

1980

Company Registration No

C-8241

Registration date

5th March 1980  

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

24, Agrabad C/A, Jahan Building # 2, Chittagong

Location : Owned

Telephone No

880-31-715100, 716235 

Fax No

880-31-710061

E-Mail

youngone@youngone.co.k

Website

www.youngone.co.k

Branch 

NIL

Factory

42-44 , Chandona, Joydebpur, Gazipur, Dhaka

Factory Tel No

880-2-9257350

Factory Fax No

880-2-9256052

Warehouse

42-44 , Chandona, Joydebpur, Gazipur, Dhaka

 

DIRECTORS

 

Name

Mr. Naveed Hashmet

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Shamshi Hashmet

Designation

Director

 

 

SHAREHOLDERS

 

Name

Youngone Corporation 

Share Percent

100%

Country

Korea 

 

 

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

Standard Chartered Bank

Branch

Agrabad Branch

Address

Agrabad C/A, Chittagong

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2011

2010

 

2009

Investment

Tk.57 million

Tk.55 million

Tk.55 million

Turnover

Tk.470 million

Tk.468.6 million

Tk.468 million

Liability

Tk.5 million

Tk.6.5 million

Tk.7 million

Assets

Tk.66 million

Tk.64 million

Tk.64 million

 

The information provided is collected unofficially and as such its authenticity could not be guaranteed. As per Local Corporate & Tax law, a Private Limited Company is not bound to disclose its financial information

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.10 million

Paid Up Capital

Tk.2 million

Each Share Value

Tk.100.00

 

 

Information Parted By:

Name               : Mr. Ravindran

Designation     : General Manager

Mobile No.       : 8801741592041

Date                 : 11.08.2012

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

127.3519

U.S Dollar

1

81.5000

European Euro

1

101.0518

 

 

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

3,200

Office Area (Sq. Ft)

2,300 sq.ft (rented)

Factory Area (Sq. Ft)

75,000 sq.ft (rented)

Warehouse Area (Sq. Ft)

6,800  sq.ft.(rented)

Range of Products

4 Ladies Shirts

4 Trousers

4 Overalls

Export Market      

4 USA

4 EU Countries

4 Italy

4 Canada 

Types of customers

·         Wholesalers

Retails

Certifications

NIL

Group Name

4 Youngone Group  

Subsidiaries / Affiliates

4 Youngone (CEPZ) Limited

4 Youngone Sportswear Limited

4 Karnaphuli Sportswear Ind. Limited

4 Titas Sportswear Ind. Limited

4 Lalmai Sportswear Industries Limited 

4 Youngone Sports Shoes Ind. Limited

4 Youngne Padding Limited

4 Youngone Garment Accessories Ind. Limited

4 Youngone Shoe Accessories Ind. Limited

4 Shinhan Emulsion Co. (BD) Limited

4 Surma Garments Washing and Finishing Co.

4 Youngone Hi-Tech Sportswear Ind. Limited

4 Youngone Synthetic Fiber Product Ind. Limited

4 Saver Dyeing & Finishing Ind. Limited

4 Saver Sportswear Co. Limited

Member

4 Chittagong Chamber of Commerce & Industries, Chittagong 4 Bangladesh Garments Manufacturers & Exporters Association   

 

 

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.55.42

UK Pound

1

Rs.86.78

Euro

1

Rs.68.03

 

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.