MIRA INFORM REPORT

 

 

Report Date :

04.06.2012

 

IDENTIFICATION DETAILS

 

Name :

ALFA TEXTILE LIMITED

 

 

Registered Office :

CDA Annex Building (2nd Floor), H.S.S. Road, Chittagong

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

15.06.1996

 

 

Com. Reg. No.:

2- C895

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer & Exporter of Ready Made Garments

 

 

No. of Employees :

1500

 

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

Alfa Textile Limited

Address

Plot No.49 (NP), Kalurghat Heavy Industrial Estate, Chittagong

Country

Bangladesh

Telephone No

880-31-611033, 611034

Fax No

880-31-610352

E-Mail

sunman@spctnet.com

munir.finance@sunman.net

Website

NIL

Established

1996

Company Registration No

2- C895

Registration date

15th June 1996

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Chittagong

Business Type

Manufacturer & Exporter

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

CDA Annex Building (2nd Floor), H.S.S. Road , Chittagong

Area: 2500 Sq.fts, Location : rented

Telephone No

880-31-611033, 611034

Fax No

880-31-610352

E-Mail

sunman@spctnet.com

munir.finance@sunman.net

Website

NIL

Branch 

NIL

Factory

Plot No.49 (NP), Kalurghat Heavy Industrial Estate, Chittagong

Factory Tel No

NIL

Factory Fax No

NIL

Warehouse

Plot No.49 (NP), Kalurghat Heavy Industrial Estate, Chittagong

 

DIRECTORS

 

Name

Major (Rtd.) Abdul Mannan

Designation

Chairman

Nationality

Bangladeshi

 

 

Name

Mr. Lutfe M Ayub

Designation

Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. Mosleh Uddin

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. M D Arshad Ullah

Designation

Director

 

 

SHAREHOLDERS

 

Name

Major (Rtd.) Abdul Mannan

Share Percent

35%

Country

Bangladeshi

 

 

Name

Mr. Lutfe M Ayub

Share Percent

45%

Country

Bangladeshi

 

 

Name

Mr. Mosleh Uddin

Share Percent

20%

Country

Bangladeshi

 

 

BUSINESS DETAILS

 

Line of Business

Manufacturer & Exporter

Items Dealing In

Ready Made Garments

Terms of Purchase

Import: Against L/C

Local: Cash or Credit

Terms of Sale

Export: Against L/C

Local: Cash or Credit

Exporters

Product : Ready Made Garments

Country : USA, Canada

 

 

BANKERS

 

Name

Pubali Bank Limited

Branch

CDA Building Branch

Address

C.D.A. Building, P.O.-GPO, Chittagong

SWIFT

PUBABDDH206

 

 

FINANCIAL INFORMATION

                                                                                                                                    (Amt. In USD Millions)

Particulars

 

31.03.2012

31.03.2011

Sales Turnover

11.000

10.000

                                                                                           

Expected Sales (2012-2013):- 12.000 USD millions

 

Information Parted By:

 

Name               : Mr. Munir

Designation     : Finance Manager

Mobile No.       : 0880-31611033

Date                 : 02.06.2012

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.50 million

Paid Up Capital

Tk.5 million

Each Share Value

Tk.100.00

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

126.8923

U.S Dollar

1

81.9400

European Euro

1

101.3598

 

 

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

1500

Office Area (Sq. Ft)

2,500 sq.ft (rented)

Factory Area (Sq. Ft)

50,000 sq.ft (rented)

Warehouse Area (Sq. Ft)

7,800 sq.ft.(rented)

Range of Products

4 Shirts

4 Blouses

4 Jackets

Export Market

4 USA 

4 Canada 

4 EU Countries  

Certifications

NIL

Group Name

4 Sunman Group

Subsidiaries / Affiliates

4 Sun Knit Textiles Limited

4 Sun Care Apparels Limited

4 Sun Glory Apparels Ltd

4 Sunman Apparels Limited

4 Sunman Sweaters Limited

4 Sun Mark Jeans Limited

4 Sun Crest Beverage Limited

4 Sun Flower Garments Limited

4 Helicopter Services Limited

4 Banglalion Communications Limited

4 Ishaqpur Sweater Industries Limited

Member

4 Chittagong Chamber of Commerce & Industries, Chittagong

4 Bangladesh Garments Manufacturers & Exporters Association

Auditor

 Shah & Company

Customer

Phillips Van Heusen

Suppliers

Luthai Textile Company Limited

 

 

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.55.92

UK Pound

1

Rs.86.03

Euro

1

Rs.69.13

 

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.