|
Report Date : |
05.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
VERTEX WEAR LIMITED |
|
|
|
|
Registered Office : |
Unique Trade Centre (UTC), Level- 17 (South), 8 Panthapath, Karwan Bazar Commercial Area, Dhaka-1215 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
29.06.1992 |
|
|
|
|
Com. Reg. No.: |
C-22323 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
Manufacturer & Exporter of Ready Made Garments |
|
|
|
|
No. of Employees : |
800 |
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) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Name |
Vertex Wear Limited |
|
Address |
Varari,
Tetuljhora, Rajfulbaria, Hemayetpur, Savar, Dhaka |
|
Country |
Bangladesh |
|
Telephone No |
880-2-7743315-6,
7743260-65 |
|
Fax No |
880-2-7743264 |
|
E-Mail |
|
|
Website |
|
|
Established |
1992 |
|
Company Registration No |
C-22323 |
|
Registration date |
29th June 1992 |
|
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 |
Unique Trade
Centre (UTC), Level- 17 (South), 8 Panthapath Karwan
Bazar Commercial Area, Dhaka-1215 |
|
Telephone No |
880-2-8150079,
8154359, 8158399, 8159343 |
|
Fax No |
880-2-8142824,
8158764, 8011153 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
Varari,
Tetuljhora, Rajfulbaria, Hemayetpur, Savar, Dhaka |
|
Factory Tel No |
880-2-7743315-6,
7743260-65 |
|
Factory Fax No |
880-2-7743264 |
|
Warehouse |
Varari, Tetuljhora, Rajfulbaria, Hemayetpur, Savar, Dhaka |
|
Mr. M.A Ghani |
|
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Osman Ghani Talukdar |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Nahid Akhter |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Lutfur Rahman Talukdar |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Kamrul Islam Khan |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. M.A Ghani |
|
Share Percent |
15% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Osman Ghani Talukdar |
|
Share Percent |
45% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Mrs. Nahid
Akhter |
|
Share Percent |
20% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Lutfur Rahman Talukdar |
|
Share Percent |
10% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Kamrul Islam Khan |
|
Share Percent |
10% |
|
Country |
Bangladeshi |
|
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 |
|
Name |
The Premier Bank
Ltd |
|
Branch |
Dilkusha Branch |
|
Address |
44, Dilkusha Commercial Area, Dhaka-1000 |
|
SWIFT |
PRMRBDDHDIL |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.45 million |
Tk.45 million |
Tk.43 million |
|
Turnover |
Tk.434.6 million |
Tk.434 million |
Tk.431.5 million |
|
Liability |
Tk.9 million |
Tk.10 million |
Tk.12 million |
|
Assets |
Tk.58 million |
Tk.58 million |
Tk.56 million |
|
Authorized
Capital |
Tk.100 million |
|
Paid Up Capital |
Tk.10 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
126.8923 |
|
U.S Dollar |
1 |
81.9400 |
|
European Euro |
1 |
101.3598 |
|
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 |
800 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
40,000 sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
2,800 sq.ft.(own) |
|
Range of
Products |
4 Shirts 4 Pants 4
Trousers 4 Jackets |
|
Export Market |
4 Tesco 4 H & M 4 PVH 4 Old
Navy 4 Tema 4 LIDL 4 Jules 4
Sainsbury 4
Carrefour 4 ZARA |
|
Certifications |
NIL |
|
Group Name |
4 Vertex Group |
|
Subsidiaries /
Affiliates |
4 Vertex Fashion Limited 4 Vertex Casual
Limited 4 Dress World Limited 4 Neo Fashion Limited |
|
Member |
4 Dhaka Chamber
of Commerce & Industries, Dhaka 4 France
Bangladesh Chamber of Commerce & Industries 4 Bangladesh
Garments Manufacturers & Exporters Association |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
UK Pound |
1 |
Rs.85.29 |
|
Euro |
1 |
Rs.68.86 |
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.