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Report Date : |
16.11.2012 |
IDENTIFICATION DETAILS
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Name : |
TOPAZ GARMENT LIMITED |
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Registered Office : |
Aziz Super Building, 240, Tejgoan
Industrial Area, Dhaka-1208 |
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Country : |
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Date of Incorporation : |
30.05.1991 |
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Com. Reg. No.: |
C-20696 |
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Legal Form : |
Private Limited |
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Line of Business : |
Manufacturer & Exporter of Ready-Made
Garments |
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No. of Employees : |
1,300 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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 |
TOPAZ GARMENT LIMITED |
|
Address |
Aziz Super Building, 240, Tejgoan
Industrial Area, Dhaka-1208 |
|
Country |
Bangladesh |
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Telephone No |
880-28813143, 8810079, 8828942, 8856367, 9899671 |
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Fax No |
880-2-8825965 |
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E-Mail |
info@topazgrp.com |
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Website |
www.topazgrp.com |
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Established |
1991 |
|
Company Registration No |
C-20696 |
|
Registration date |
30th May 1991 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies &
Firms, Dhaka |
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Business Type |
Manufacturer & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local suppliers or banks. |
|
Head Office |
Aziz Super Building, 240, Tejgoan
Industrial Area, Dhaka-1208 |
|
Telephone No |
880-28813143, 8810079, 8828942, 8856367, 9899671 |
|
Fax No |
880-2-8825965 |
|
E-Mail |
info@topazgrp.com |
|
Website |
www.topazgrp.com |
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Branch |
NIL |
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Factory |
240, Tejgaon I/A., Dhaka-1208 |
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Factory Telephone No |
NIL |
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Factory Fax No |
NIL |
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Warehouse |
240, Tejgaon I/A., Dhaka-1208 |
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Name |
Mr. Khairul Anam |
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Designation |
Chairman & Managing Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Nasimul Alam Chowdhury |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Khairul Anam |
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Share Percent |
50% |
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Nationality |
Bangladeshi |
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|
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Name |
Mr. Nasimul Alam Chowdhury |
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Share Percent |
50% |
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Nationality |
Bangladeshi |
Note: Shareholder
structure changed in 2012.
|
Line of Business |
Manufacturer & Exporter |
|
Items Dealing In |
Ready-Made Garments |
|
Terms of
Purchase |
Local: Cash or Credit Import: Against L/C |
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Terms of Sale |
Export: Against L/C |
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Production
Capacity |
2,400,000 pieces per year |
|
Last Year
Production |
2,400,000 pieces |
|
Name |
Janata Bank Limited |
|
Branch |
Local Office Branch |
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Address |
1, Dilkusha Commercial Area, Dhaka-1000 |
|
SWIFT |
JANBBDDHJBD |
|
|
|
|
Name |
EXIM Bank Limited |
|
Branch |
Gulshan Branch |
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Address |
75, Gulshan Avenue, CWSA-10, Gulshan, Dhaka. |
|
SWIFT |
EXBKBDDH007 |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.34 million |
Tk.34 million |
Tk.32 million |
|
Turnover |
Tk.350.6 million |
Tk.350 million |
Tk.347.4 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.52 million |
Tk.52 million |
Tk.50 million |
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Authorized
Capital |
Tk.10 million |
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Paid Up Capital |
Tk.50,000.00 |
|
Each Share Value |
Tk.100.00 |
Note: Capital
Structure Changed in 2012
|
Currency |
Unit |
Bangladeshi Taka
(BDT) |
|
Great Britain Pound |
1 |
130.6063 |
|
U.S Dollar |
1 |
81.6800 |
|
European Euro |
1 |
104.2890 |
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Dishonored
Checks |
No Found |
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Debt |
No Found |
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Litigation |
No Records Found |
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Performance
Defaults |
No Records Found |
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Adverse Press
Coverage |
No Records Found |
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Money Laundering |
No Records Found |
|
Employees |
1,300 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
62,482 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
5,200 sq.ft.(rented) |
|
Range of
Products |
4 Woven Shirt (Men’s & Boys) |
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Export Market |
4 C&A 4 MGB Metro Group 4 Li & Fung 4 In Trade
Partners OY 4 Norwest
Industries (Hk) lt, 4 Point Zero
Canada 4 Best & Less
Australia 4 M&P 4 Migros 4 Pinkon 4 Tema |
|
Fabrics &
Accessories |
4 Hong Kong 4 China 4 India |
|
Certifications |
NIL |
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Group Name |
4 Topaz Group |
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Subsidiaries /
Affiliates |
4 Star Garments Limited 4 Topaz Dresses Limited |
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Member |
4 Bangladesh Garments Manufacturers & Exporters Association 4 Dhaka Chamber of Commerce & Industries, Dhaka |
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Business Scale |
Fairly Large |
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Business Trend |
Growing |
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Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.96 |
|
|
1 |
Rs.87.10 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.