MIRA INFORM REPORT

Report Date :

07.06.2012

IDENTIFICATION DETAILS

Name :	BHIS APPARELS LIMITED

Registered Office :	DOHS Road, House No.32 (1^st Floor), Old DOHS, Banani, Dhaka-1206

Country :	Bangladesh

Date of Incorporation :	24.04.2001

Com. Reg. No.:	C- 45871

Legal Form :	Private Limited Company

Line of Business :	Manufacturer and Exporter of Ready-Made Garments

No. of Employees :	560

RATING & COMMENTS

MIRA’s Rating :

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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Bangladesh

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

COMPANY DETAILS

Name	BHIS Apparels Limited
Address	671 Dattapara (1^st & 2^nd Floor), Hossain Market, Tongi, Gazipur
Country	Bangladesh
Telephone No	880-2-9891712, 8850713
Fax No	880-2-9891628
E-Mail	info@jismapparels.com
Website	www.jismapparels.com
Established	2001
Company Registration No	C- 45871
Registration date	24^th April 2001
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.

LOCATIONS

Head Office	DOHS Road, House No.32 (1^st Floor), Old DOHS, Banani, Dhaka-1206, Bangladesh
Telephone No	880-2-9891712, 8850713
Fax No	880-2-9891628
E-Mail	info@jismapparels.com
Website	www.jismapparels.com
Branch	NIL
Factory	671 Dattapara (1^st & 2^nd Floor), Hossain Market, Tongi, Gazipur,
Factory Telephone No	NIL
Factory Fax No	NIL
Warehouse	671 Dattapara (1^st & 2^nd Floor), Hossain Market, Tongi, Gazipur,

DIRECTORS

Name	Mr. Mohammad Iqbal
Designation	Chairman & Managing Director
Nationality	Bangladeshi

Name	Mr. Lutfur Rahman
Designation	Director
Nationality	Bangladeshi

Name	Mr. Kamrul Ahsan
Designation	Director
Nationality	Bangladeshi

SHAREHOLDERS

Name	Mr. Mohammad Iqbal
Share Percent	60%
Nationality	Bangladeshi

Name	Mr. Lutfur Rahman
Share Percent	20%
Nationality	Bangladeshi

Name	Mr. Kamrul Ahsan
Share Percent	20%
Nationality	Bangladeshi

BUSINESS DETAILS

Line of Business	Manufacturer and Exporter
Items Dealing In	Ready-Made Garments
Terms of Purchase	Local: Cash or Credit Import: Against L/C
Terms of Purchase	Export: Against L/C
Production Capacity:	4,200,000 pieces per year
Last Year Production:	4,200,000 pieces

BANKERS

Name	National Bank Limited
Branch	Local Office Branch
Address	Motijheel Commercial Area, Dhaka
SWIFT	N/A

Name	EXIM Bank Limited
Branch	Banani Branch,
Address	Banani, Dhaka
SWIFT	N/A

Name	Islami Bank (BD) Limited
Branch	Tongi Branch,
Address	Tongi, Gazipur
SWIFT	N/A

FINANCIAL INFORMATION

Year	2011	2010	2009
Investment	Tk.42 million	Tk.40 million	Tk.40 million
Turnover	Tk.384 million	Tk.38206 million	Tk.382 million
Liability	NIL	NIL	NIL
Assets	Tk.50 million	Tk.48 million	Tk.48 million

CAPITAL STRUCTURE

Authorized Capital	Tk.25 million
Paid Up Capital	Tk.800,000
Each Share Value	Tk.100.00

CURRENCY EXCHANGE RATE

Currency	Unit	Bangladeshi Taka (BDT)
Great Britain Pound	1	125.7287
U.S Dollar	1	81.9400
European Euro	1	101.7203

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	560
Office Area (Sq. Ft)	2,300 sq.ft (rented)
Factory Area (Sq. Ft)	35,000 sq.ft (rented)
Warehouse Area (Sq. Ft)	35,000 sq.ft (rented)
Range of Products	4 Shirts 4 Basic Shirts 4 Polo Shirts
Export Market	4 USA 4 Canada 4 EEC Countries
Certifications	NIL
Group Name	NIL
Subsidiaries / Affiliates	4 CN Knitwear Limited 4 Bright Apparels Limited 4 Best Shirts Limited 4 Jism Apparels Limited
Member	4 Dhaka Chamber of Commerce & Industries, Dhaka 4 Bangladesh Garments Manufacturers & Exporters Association

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.55.50
UK Pound	1	Rs.85.58
Euro	1	Rs.69.30

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.