|
Report Date : |
26.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
STANDARD STITCHES LIMITED |
|
|
|
|
|
|
Registered Office : |
Jarun,
Konabari, Gazipur Sadar, Gazipur-1346 |
|
|
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
|
|
Date of Incorporation : |
25.06.2003 |
|
|
|
|
|
|
Com. Reg. No.: |
C-26749 |
|
|
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
|
|
Line of Business : |
Manufacturer &
Exporter of Ready-made Garments
|
|
|
|
|
|
|
No. of Employees : |
2,000 |
|
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 |
Standard
Stitches Limited |
|
Address |
Jarun, Konabari, Gazipur Sadar, Gazipur-1346 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8859840‑2,
9887591‑3 |
|
Fax No |
880-2-8613644, 9665409 |
|
E-Mail |
|
|
Website |
www.standard-group.com |
|
Established |
2003 |
|
Company Registration No |
C-26749 |
|
Registration date |
25th June 2003 |
|
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 |
Civil
Engineers Bhaban, 69,Mohakhali commercial Area, Dhaka |
|
Telephone No |
880-2-8859840‑2,
9887591‑3 |
|
Fax No |
880-2-8613644, 9665409 |
|
E-Mail |
|
|
Website |
www.standard-group.com |
|
Branch |
NIL |
|
Factory |
Jarun, Konabari, Gazipur Sadar, Gazipur-1346 |
|
Factory Tel No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Jarun, Konabari, Gazipur Sadar, Gazipur-1346 |
|
Name |
Mrs. Mahmuda
Begum |
|
Designation |
Chairperson |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Engineer
Mosharraf Hossain |
|
Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Hasnat
Mosharraf |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tofazzal Ali |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mrs. Mahmuda
Begum |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Engineer
Mosharraf Hossain |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Hasnat
Mosharraf |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tofazzal Ali |
|
Share Percent |
20% |
|
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 |
|
Production
Capacity |
220,000 dozens per year |
|
Last Year
Production |
220,000 dozens |
|
Name |
Standard
Chartered Bank |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Prime Bank
Ltd |
|
Branch |
Mohakhali Branch |
|
Address |
Mohakhali C/A, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.36 million |
Tk.34 million |
Tk.34 million |
|
Turnover |
Tk.352 million |
Tk.350.6 million |
Tk.350 million |
|
Liability |
Tk.7 million |
Tk.8.5 million |
Tk.9 million |
|
Assets |
Tk.47 million |
Tk.45 million |
Tk.45 million |
|
Authorized
Capital |
Tk.30 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 |
2,000 |
|
Office Area (Sq.
Ft) |
4,000 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
48,000 Sqf (rented) |
|
Warehouse Area
(Sq. Ft) |
10,000 sq.ft.(rented) |
|
Range of
Products |
4 Jackets 4 Overalls 4 Jogging Suits |
|
Export
Market |
4 Wal-Mart-USA 4 J.C. Penny-USA 4 Judge-USA 4 Miles-USA 4 H & M-Sweden 4 Gembauc-USA |
|
Fabrics &
Accessories |
4 China 4 Hong Kong 4 Local Sources 4 Thailand 4 Pakistan 4 India |
|
Certification |
NIL |
|
Group Name |
4 Standard Group |
|
Subsidiaries /
Affiliates |
4 Kazipur Fashion Limited 4 Chandla Garments Limited 4 Tip Top Fashions Limited 4 Adhunik Poshak Shilpa Ltd 4 Burungi Sportswear Ltd 4 Barura Textile Products Ltd 4 Crazy Fashions
Ltd 4 Civil Dresses Ltd 4 Esleep Clothing Export (BD) Pte Ltd 4 Faheems Fashions Ltd 4 Farias Fashions Ltd 4 Matexport (BD) Ltd 4 Peak Fashions Ltd 4 Standard Garments Industries Ltd 4 Standard Fashions Ltd 4 Tulagaon Fashions Ltd 4 Top Bottom Dresses Ltd 4 The Civil Engineers Ltd 4 Standard Group Ltd 4 Amex Limited 4 Standard Trading Company Limited |
|
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.