|
Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
MATEX BANGLADESH LIMITED |
|
|
|
|
Registered Office : |
Rupayan Golden Age (5th & 6th Floor), 99, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
11.08.1994 |
|
|
|
|
Com. Reg. No.: |
C-26414 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
Manufacturer & Seller of Textile Chemicals |
|
|
|
|
No. of Employees : |
650 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 |
Matex Bangladesh Limited |
|
Address |
Rupayan Golden Age (5th & 6th Floor), 99, Gulshan
Avenue, Gulshan, Dhaka-1212 |
|
Country |
Bangladesh |
|
Telephone No |
880-2- 9883358 |
|
Fax No |
880-2- 9861685, 8810850 |
|
E-Mail |
|
|
Website |
|
|
Established |
1994 |
|
Company Registration No |
C-26414 |
|
Registration date |
11th August, 1994 |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The Registrar of joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer
& Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
|
Head Office |
Rupayan Golden Age (5th & 6th Floor), 99,
Gulshan Avenue, Gulshan, Dhaka-1212 |
|
Telephone No |
880-2- 9883358 |
|
Fax No |
880-2- 9861685, 8810850 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
East
Chandora, Shafipur, Kaliakoir, Gazipur, Bangladesh |
|
Factory Telephone No |
88-06822-51166 |
|
Factory Fax No |
N/A |
|
Warehouse |
East Chandora, Shafipur,
Kaliakoir, Gazipur, Bangladesh |
|
Name |
Mr. Zafar Ahmed |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zahur Ahmed
PhD |
|
Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Shawkat Ara
Ahmed |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Shahriar
Ahmed |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zubair Ahmed |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Muhammad
Bazlush Shahid |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Apex Holdings
Limited |
|
Share Percent |
100% |
|
Country |
Bangladeshi |
|
Line of Business |
Manufacturer
& Seller |
|
Items Dealing In |
Textile
Chemicals |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Production
Capacity |
30,000 MT per year |
|
Name |
Dutch Bangla
Bank Limited |
|
Branch |
Dilkusha Branch |
|
Address |
Dilkusha Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.65 million |
Tk.63 million |
Tk.63 million |
|
Turnover |
Tk.228 million |
Tk.225.6 million |
Tk.225 million |
|
Liability |
Tk.15 million |
Tk.16.5 million |
Tk.17 million |
|
Assets |
Tk.70 million |
Tk.68 million |
Tk.68 million |
|
Authorized
Capital |
Tk.50 million |
|
Paid Up Capital |
Tk.1 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 |
650 |
|
Office Area (Sq.
Ft) |
2,400 sq.ft (rented) |
|
Yard Area (Sq.
Ft) |
40,000 sq.ft (Own) |
|
Warehouse Area
(Sq. Ft) |
3,800 sq.ft.(Own) |
|
Range of
Products |
4 Textile Dyes 4 Textile Auxiliaries |
|
Major
Clients |
4 Local
Export Oriented Garments Industries |
|
Certification |
NIL |
|
Holding Company |
4 Apex Holdings Limited |
|
Subsidiaries /
Affiliates |
4 Apex Spinning
& Knitting Mills Limited 4 Apex Lingerie
Limited 4 Apex Yarn
Dyeing Limited 4 Apex Foods
Limited 4 Apex Textile
Printing Mills Limited |
|
Member |
4 Dhaka Chamber of Commerce &
Industries, Dhaka |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.20 |
|
UK Pound |
1 |
Rs.88.38 |
|
Euro |
1 |
Rs.71.47 |
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.