|
Report Date : |
09.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
ENVOY TEXTILES LIMITED |
|
|
|
|
Registered Office : |
|
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|
Country : |
|
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|
|
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Date of Incorporation : |
18.06.1995 |
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|
|
|
Com. Reg. No.: |
C-28622 |
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|
|
|
Legal Form : |
Public Limited Company |
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|
|
|
Line of Business : |
Manufacturing, Exporting & Selling of Fabrics |
|
|
|
|
No. of Employees : |
650 |
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 |
|
Name |
Envoy Textiles Limited |
|
Address |
Envoy Tower,
18/E,Lake Circus, Kalabagan, West Panthapath, Dhaka-1205 Note: The subject operates from this address. |
|
Country |
Bangladesh |
|
880-2-9102583-90 |
|
|
Fax No |
880-2-9103128-29 |
|
E-Mail |
|
|
Website |
|
|
Established |
1995 |
|
Commercial
Production From |
2005 |
|
Company
Registration No |
C-28622 |
|
Registration
date |
18th June 1995 |
|
Legal Status |
Public Limited |
|
Issuing
Authority |
The Registrar of Joint Stock Companies &
Firms, Dhaka |
|
Business Type |
Manufacturing & Exporting |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
Envoy Tower,
18/E,Lake Circus, Kalabagan, West Panthapath, Dhaka-1205 |
|
Telephone No |
880-2-9102583-90 |
|
Fax No |
880-2-9103128-29 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
Jamirdia,
Bhaluka, Mymensingh, Bangladesh |
|
Factory Telephone No |
880-2-880682 -
555037 |
|
Factory Fax No |
N/A |
|
Warehouse |
Jamirdia,
Bhaluka, Mymensingh, Bangladesh |
|
Name |
Mr. Kutub Uddin
Ahmed |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abdus Salam
Murshedi |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. S. Faisal
Ali |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mostaba
Zaman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ghulam
Rabbani Chowdhury |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Faruk
Hossain |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. A.K.M Golam
Jakaria |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Robiul Hasan |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zafor Ullah |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mahabub Alam |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tanvir
Ahamed Siddik |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mazibur
Rahman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abul Khair |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Rashida
Ahmed |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Sharmin
Salam |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tanvir Ahmed |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Ms. Shehrin
Salam Oishee |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Kutub Uddin
Ahmed |
|
Share Percent |
3.9% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abdus Salam
Murshedi |
|
Share Percent |
3.9% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. S. Faisal
Ali |
|
Share Percent |
1.3% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mostaba
Zaman |
|
Share Percent |
1% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ghulam
Rabbani Chowdhury |
|
Share Percent |
0.01% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Faruk
Hossain |
|
Share Percent |
0.015% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. A.K.M Golam
Jakaria |
|
Share Percent |
0.01% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Robiul Hasan |
|
Share Percent |
0.08% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zafor Ullah |
|
Share Percent |
0.012% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mahabub Alam |
|
Share Percent |
0.001% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tanvir
Ahamed Siddik |
|
Share Percent |
0.007% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mazibur
Rahman |
|
Share Percent |
0.003% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abul Khair |
|
Share Percent |
0.002% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Rashida
Ahmed |
|
Share Percent |
3.25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Sharmin
Salam |
|
Share Percent |
3.25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tanvir Ahmed |
|
Share Percent |
3.25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Ms. Shehrin
Salam Oishee |
|
Share Percent |
3.25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Pastel Apparels
Limited |
|
Share Percent |
6.2% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Dornick Apparels
Limited |
|
Share Percent |
10% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Envoy Towers
Limited |
|
Share Percent |
8.75% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Fontina Fashions
Limited |
|
Share Percent |
6% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Supreme Apparels
Limited |
|
Share Percent |
2.6% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Alpha Start
Limited |
|
Share Percent |
5% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
ICB Capital
Management Ltd. (Investment A/C.) |
|
Share Percent |
1% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
ICB Capital
Management Ltd. (Fund) |
|
Share Percent |
0.95% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Lanka Bangla
Finance Limited |
|
Share Percent |
0.4% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Pubali Bank
Limited |
|
Share Percent |
1% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Southeast Bank
Limited - MBW |
|
Share Percent |
0.58% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Midas Financing
Limited |
|
Share Percent |
1% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
LankaBangla
Finance Limited - IP Account |
|
Share Percent |
6.9% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Nadia Garments
Limited |
|
Share Percent |
2.68% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Undisclosed |
|
Share Percent |
23.5% |
|
Country |
Bangladeshi |
|
Line of Business |
Manufacturing, Exporting & Selling |
|
Items Dealing In |
Fabrics |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of
Purchase |
Local: Cash or Credit Export: Against L/C |
|
Name |
The Premier Bank Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.30 million |
Tk.27 million |
Tk.27 million |
|
Turnover |
Tk.286 million |
Tk.283 million |
Tk.282.6 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.40 million |
Tk.37 million |
Tk.37 million |
|
Authorized
Capital |
Tk.275,00,00,000.00 |
|
Paid Up Capital |
Tk.1,000,000,000.00 |
|
Each Share Value |
Tk.10.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
127.6310 |
|
U.S Dollar |
1 |
81.8200 |
|
European Euro |
1 |
102.5286 |
|
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 |
|
Employees |
650 |
|
Office Area (Sq.
Ft) |
3,300 (rented) |
|
Factory Area
(Sq. Ft) |
20 acres of land (own) |
|
Warehouse Area
(Sq. Ft) |
7,600 (own) |
|
Range of
Products |
4 Ring yarns 4 Open-end yarns 4 Slubs 4 Mixed Warps 4 Multi-count yarns 4 Colored wefts |
|
Export Market |
4 Germany 4 Turkey 4 Sri Lanka 4 India |
|
Major Clients |
4 Local Export Oriented Ready-Made Garment Industries |
|
Certifications |
4 ISO 9001: 14001 |
|
Parent Company |
4 Envoy Group |
|
Subsidiaries /
Affiliates |
4 Fountain Water Ltd 4 Platinum Suits (2006) 4 Envoy Design Ltd 4 Envoy Fashions Ltd 4 Manta Apparels Ltd 4 Olio Apparels Ltd 4 Fontina Fashions Ltd 4 Information Technology Consultants
Ltd 4 Emerald Trading Ltd 4 Dornick Apparels Ltd 4 Pinata Air International Ltd 4 Peridot International Ltd 4 Pastel Apparels Ltd 4 National System Solutions (Pvt.)
Ltd 4 Armour Garments Ltd 4 OIA Global Logistics (BD) Ltd 4 Laundry Industries Ltd 4 Supreme Apparels Ltd 4 Epoch Garments Ltd 4 Regal Garments Ltd 4 Astras Garments Ltd 4 Sheltech (Pvt.) Ltd 4 Nadia Garments Ltd 4 Lunar International Ltd 4 Envoy Garments Ltd |
|
Member |
4 Bangladesh Textile Mills
Association, Dhaka 4 Dhaka Chamber of Commerce &
Industries, Dhaka |
|
Business Scale |
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.86.04 |
|
Euro |
1 |
Rs.68.61 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.