|
Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
KNIT ZONE MODE (PVT.) LIMITED |
|
|
|
|
Registered Office : |
146/4, |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
15.06.2004 |
|
|
|
|
Com. Reg. No.: |
C-52076 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturing & Exporting of Read-Made Garments |
|
|
|
|
No. of Employees : |
710 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 |
Knit Zone Mode (Pvt.) Limited |
|
Address |
146/4, Green
Road, Dhaka-1205 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8113875,
8152107 |
|
Fax No |
880-2-8117447 |
|
E-Mail |
|
|
Website |
|
|
Established |
2004 |
|
Company Registration No |
C-52076 |
|
Registration date |
15th
June 2004 |
|
Legal Status |
Private 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 |
146/4,
Green Road, Dhaka-1205 |
|
Telephone No |
880-2-8113875,
8152107 |
|
Fax No |
880-2-8117447 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
Domna,
Zirani Bazar, Gazipur–1344 |
|
Factory Telephone No |
880-2-7702223,
7702131, 7702181-3 |
|
Factory Fax No |
880-2-8117447 |
|
Warehouse |
Domna, Zirani
Bazar, Gazipur–1344 |
|
Name |
Mr. Mohammad Abul Kalam Azad |
|
Designation |
Chairman & Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Sultana Parvin Azad |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Mohammad Abul Kalam Azad |
|
Share Percent |
60% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Sultana Parvin Azad |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturing
& Exporting |
|
Items Dealing In |
Read-Made
Garments |
|
Terms of Purchase |
Local: Cash or
Credit Import: Against
L/C |
|
Terms of
Purchase |
Export: Against
L/C |
|
Name |
Prime Bank Limited |
|
Branch |
Motijheel Branch |
|
Address |
119-120, Motijheel C/A, Dhaka-1000 |
|
SWIFT |
PRBLDDH001 |
|
Year |
As of 31st March 2012 |
|
Investment |
Tk.37.6 million |
|
Turnover |
Tk.360.4 million |
|
Liability |
Tk.5.7 million |
|
Assets |
Tk.44 million |
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.3 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
130.6513 |
|
U.S Dollar |
1 |
81.5500 |
|
European Euro |
1 |
105.5175 |
|
Dishonored
Checks |
No Found |
|
Debt |
No Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
|
Employees |
710 |
|
Office Area (Sq.
Ft) |
2,500 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
70,500 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
8,500 sq.ft (rented) |
|
Range of
Products |
4 T Shirt 4 Polo Shirt 4 Sweat Shirt 4 Tank Tops 4 Dress Pants 4 Long pant 4 Short pant 4 Fleece Jacket |
|
Export
Market |
4 Reds D1ffussion spa Italy 4 Multiline Textil, Gmbh Germany 4
Karstadt Waren Hans, Germany 4
Hessler International, Uruguay/ Brazil 4 G.
Guldenpfennig, Gmbh Germany 4
Rueca, France 4 Wal
Mart, USA 4 KIK,
Germany 4 SYN
ERGI ES, France 4 BAUM Trading, U.K 4 Cotton Candy, USA 4 QUELLE, Gmbh Germany 4 BERNARDI, ITALY |
|
Certifications |
4 ISO 9001-2000 |
|
Group Name |
4 Knit Zone Group |
|
Subsidiaries /
Affiliates |
4 Shathi Fashion Apparels 4 Knit Zone Fashions Limited 4 Sadat Composite Knit Ind. Limited 4 Knit Zone Printers 4 Roots Unani Laboratories Limited 4 Trade Zone |
|
Member |
4 Dhaka Chamber of Commerce &
Industries, Dhaka 4 Bangladesh Knitwear 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.55.70 |
|
UK Pound |
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
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.