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Report Date : |
26.12.2012 |
IDENTIFICATION DETAILS
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Name : |
ESSES FASHIONS LIMITED |
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Registered Office : |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur-1346 |
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Country : |
Bangladesh |
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Date of Incorporation : |
15.08.2004 |
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Com. Reg. No.: |
C-54389 |
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Legal Form : |
Private Limited |
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Line of Business : |
Manufacturer & Exporter of Ready Made Garments |
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No. of Employees : |
863 |
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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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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Bangladesh |
B1 |
B1 |
|
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 |
BANGLADESH - ECONOMIC OVERVIEW
The economy has grown 5-6%
per year since 1996 despite political instability, poor infrastructure, corruption,
insufficient power supplies, and slow implementation of economic reforms.
Bangladesh remains a poor, overpopulated, and inefficiently-governed nation.
Although more than half of GDP is generated through the service sector, 45% of
Bangladeshis are employed in the agriculture sector with rice as the
single-most-important product. Bangladesh's growth was resilient during the
2008-09 global financial crisis and recession. Garment exports, totaling $12.3
billion in FY09 and remittances from overseas Bangladeshis, totaling $11
billion in FY10, accounted for almost 12% of GDP.
Source : CIA
|
Name |
Esses Fashions
Limited |
|
Address |
Beximco
Industrial Park, Sarabo, Kashimpur, Gazipur-1346 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8618220 |
|
Fax No |
880-2- 8619187,
8610672, 7701164 |
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E-Mail |
|
|
Website |
|
|
Established |
2004 |
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Company Registration No |
C-54389 |
|
Registration date |
15th August 2004
|
|
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. |
|
Corporate Head Office |
17
Dhanmondi R/A, Road No.2, Dhaka-1205 |
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Telephone No |
880-2-8618220 |
|
Fax No |
880-2- 8619187,
8610672, 7701164 |
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E-Mail |
info@beximcofashions.com |
|
Website |
www.beximcofashions.com |
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Operational Head Office |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur-1346 |
|
Factory |
Beximco Industrial
Park, Sarabo, Kashimpur, Gazipur-1346 |
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Factory Tel No |
N/A |
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Factory Fax No |
N/A |
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Warehouse |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur-1346 |
|
Mr. A
S F Rahman |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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Name |
Mr.
Salman F Rahman |
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Designation |
Managing Director |
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Nationality |
Bangladeshi |
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Name |
Mr. A S F Rahman |
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Share Percent |
50% |
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Country |
Bangladeshi |
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|
|
Name |
Mr. Salman F Rahman |
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Share Percent |
50% |
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Country |
Bangladeshi |
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Line of Business |
Manufacturer
& Exporter |
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Items Dealing In |
Ready Made
Garments |
|
Terms of Purchase |
Import: Against L/C Local: Cash or Credit |
|
Terms of Sale |
Export: Against L/C |
|
Name |
Janata Bank
Limited |
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Branch |
Local office
Branch |
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Address |
1, Dikusha Commercial Area, Dhaka |
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SWIFT |
JANBBDDHDCB |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.48 million |
Tk.48 million |
Tk.45 million |
|
Turnover |
Tk.379.6 million |
Tk.379 million |
Tk.376 million |
|
Liability |
Tk.5.7 million |
Tk.6.1 million |
Tk.7 million |
|
Assets |
Tk.55 million |
Tk.55 million |
Tk.53 million |
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Authorized
Capital |
Tk.250 million |
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Paid Up Capital |
Tk.100,000.00 |
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Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
129.3762 |
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U.S Dollar |
1 |
80.0100 |
|
European Euro |
1 |
105.4772 |
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Dishonored
Checks |
No Found |
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Debt |
No 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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Employees |
863 |
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Office Area (Sq.
Ft) |
5,875 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
60,000 sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
10,200 sq.ft (own) |
|
Range of
Products |
4 All types
of knit garments (Tops & Bottoms) |
|
Export Market |
4 USA 4 Canada 4 Europe |
|
Certifications |
NIL |
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Group Name |
4 Beximco Group |
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Subsidiaries /
Affiliates |
4 Beximco
Pharmaceuticals Limited 4
Bangladesh Export Import Co Limited 4 Beximco Synthetics Limited 4 Shinepukur Holdings Limited 4 Beximco Fisheries Limited 4 Beximco
Fashions Limited 4 Beximco Knitting Limited 4 Beximco Apparels Limited 4 Bangladesh On-Line Limited 4 Beximco Engineering Limited 4 Beximco Foods Limited 4 Beximco Media Limited 4 Sonali Aash Limited 4 Beximco Computer Limited 4 Beximco Systems Limited 4 I & I Services Limited 4 Padma Textile Mills Limited 4 Shinepukur Ceramics Limited |
|
Member |
4 Dhaka Chamber
of Commerce & Industries, Dhaka 4 Bangladesh Knitwear
Manufacturers & Exporters Association |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
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Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.08 |
|
|
1 |
Rs.89.09 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
-- |
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.