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Report Date : |
26.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHAFI PROCESSING INDUSTRIES LIMITED |
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|
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Registered Office : |
Mouza: Chandana, Joydevpur, Gazipur |
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Country : |
Bangladesh |
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Date of Incorporation : |
23.01.2004 |
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Com. Reg. No.: |
C-30462 |
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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 : |
900 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Shafi Processing
Industries Limited |
|
Address |
Mouza: Chandana,
Joydevpur, Gazipur |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8810564-65,
8810834-35 |
|
Fax No |
880-2-8828836 |
|
E-Mail |
info@giantbd.com;giant@giantbd.com; info@giantglobalsupply.com |
|
Website |
www.giantbd.com |
|
Established |
2004 |
|
Company Registration No |
C-30462 |
|
Registration date |
23rd January 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. |
|
Head Office |
Giant
Business Tower (GBT), Level-12, Plot # 3 & 3/A, Sector-3, Dhaka
Mymensingh Road, Uttara Commercial Area, Dhaka-1230 |
|
Telephone No |
880-2-7913980-1,
7911327-8 |
|
Fax No |
880-2-8828836 |
|
E-Mail |
info@giantbd.com;giant@giantbd.com; info@giantglobalsupply.com |
|
Website |
www.giantbd.com |
|
Corporate office |
House No:64, Road No:17, Block-E, Banani, Dhaka Tel No: 880-2-8810564-65, 8810834-35 Fax No: 880-2-8828836 |
|
Factory |
Mouza:
Chandana, Joydevpur, Gazipur |
|
Factory Tel No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Mouza: Chandana, Joydevpur, Gazipur |
|
Name |
Mr. Feroz M. Hassan
|
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Faruque
Hassan |
|
Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Feroz M.
Hassan |
|
Share Percent |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Faruque
Hassan |
|
Share Percent |
Managing
Director |
|
Nationality |
Bangladeshi |
|
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 |
Export: Against L/C |
|
Name |
Dhaka Bank
Limited |
|
Branch |
Gulshan Branch |
|
Address |
24 Gulshan Avenue, Gulshan-1, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.36 million |
Tk.34 million |
Tk.34 million |
|
Turnover |
Tk.355 million |
Tk.353.5 million |
Tk.353 million |
|
Liability |
Tk.7 million |
Tk.8.5 million |
Tk.9 million |
|
Assets |
Tk.46 million |
Tk.44 million |
Tk.44 million |
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.250,000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
129.3762 |
|
U.S Dollar |
1 |
80.0100 |
|
European Euro |
1 |
105.4772 |
|
Dishonored
Checks |
No Found |
|
Debt |
No Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
|
Employees |
900 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
50,000 Sqf (rented) |
|
Warehouse Area
(Sq. Ft) |
10,000 sq.ft.(rented) |
|
Range of
Products |
4 T-Shirts 4 Woven Shirts 4 Jacket 4 Pants |
|
Export
Market |
4 M & S Mode, Netherlands 4 K-Mart, USA 4 Eroski, Spain 4 3 Suisses, France 4 Bernadi SPA, Italy 4 Alexranda, UK 4 Target Corporation, USA 4 Kids R
US, USA |
|
Fabrics &
Accessories |
4 China 4 Hong Kong 4 Local Sources 4 Thailand 4 Pakistan 4 India |
|
Certification |
4 ISO: 9001-2000 |
|
Group Name |
4 Giant Group |
|
Subsidiaries / Affiliates |
4 Mavis Garments Limited 4 Giant Apparels Limited 4 Giant Knit Fashion Limited 4 Giant Textile Limited 4 Speedwell Fashion Ltd 4 Giant Global Supply Ltd 4 Texmart Trading Co. Ltd 4 Valuka Agro Complex 4 Jamuna Apparels Ltd 4 Speedwell Ltd. 4 Giant-Shafi Holdings Ltd 4 Giant Agro Processing Ltd. |
|
Member |
4 Bangladesh Garments Manufacturers
& Exporters Association 4 Dhaka Chamber of Commerce &
Industries, Dhaka |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.