|
Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
INTERSTOFF APPARELS LIMITED |
|
|
|
|
Registered Office : |
Chandora, (Pollibidyut), Kaliakoir, Gazipur |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
22.02.2004 |
|
|
|
|
Com. Reg. No.: |
C-48428 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer & Exporter of
Ready-made Garments |
|
|
|
|
No. of Employees : |
550 |
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 Given |
Interstoffe
Apparels Limited |
|
Address Given |
Chandora, Kallakoir BD-Gazipur, Bangladesh |
|
Tel No Given |
NIL |
|
Fax No Given |
NIL |
|
E-Mail
Given: |
NIL |
|
Name |
INTERSTOFF
APPARELS LIMITED |
|
Address |
Chandora, (Pollibidyut), Kaliakoir, Gazipur |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9894544,
8817881 |
|
Fax
No |
880-2-
8828458, 9289240 |
|
E-Mail |
|
|
Website |
NIL |
|
Established |
2004 |
|
Company Registration No |
C-48428 |
|
Registration date |
22nd
February 2004 |
|
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. |
|
Head Office |
Suit # B, House # 39, Road # 37 Gulshan-2, Dhaka-1212 |
|
Telephone No |
880-2-9894544, 8817881 |
|
Fax
No |
880-2- 8828458, 9289240 |
|
E-Mail |
|
|
Website |
NIL |
|
Branch |
NIL |
|
Factory |
Chandora, (Pollibidyut), Kaliakoir, Gazipur |
|
Factory Telephone No |
880-2-8817881, 9894544 |
|
Factory Fax No |
880-2- 9289240 |
|
Warehouse |
Chandora, (Pollibidyut), Kaliakoir, Gazipur |
|
Name |
Mr.
Nazimuddin Ahmed |
|
Designation |
Chairman
|
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr.
Shahriar Alam |
|
Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr.
Sheikh Mohammad Elias |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr.
Naimul Bashar |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr.
Nazimuddin Ahmed |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr.
Shahriar Alam |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr.
Sheikh Mohammad Elias |
|
Share Percent |
25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr.
Naimul Bashar |
|
Share Percent |
15% |
|
Nationality |
Bangladeshi |
|
Line
of Business |
Manufacturer & Exporter |
|
Items Dealing In |
Ready-made Garments |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms
of Sale |
Export: Against L/C |
|
Production
Capacity |
210,000
dozens per year |
|
Name |
Mercantile
Bank Ltd |
|
Branch |
Mohakhali
Branch |
|
Address |
17, Mohakhali C/A (2nd Floor) Red
Crescent Concord Tower, Dhaka |
|
SWIFT |
MBLBBDDH012 |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.33 million |
Tk.33 million |
Tk.31 million |
|
Turnover |
Tk.376.6 million |
Tk.376 million |
Tk.373.3 million |
|
Liability |
Tk.7.5 million |
Tk.8 million |
Tk.10 million |
|
Assets |
Tk.54 million |
Tk.52 million |
Tk.52 million |
|
Authorized
Capital |
Tk.30 million |
|
Paid
Up Capital |
Tk.250,000.00 |
|
Each
Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
131.0837 |
|
U.S Dollar |
1 |
81.5400 |
|
European Euro |
1 |
105.2029 |
|
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 |
550 |
|
Office
Area (Sq. Ft) |
1,600 (rented) |
|
Factory
Area (Sq. Ft) |
30,000 (rented) |
|
Warehouse
Area (Sq. Ft) |
2,500 (rented) |
|
Range
of Products |
4 T-Shirts 4 Polo Shirts 4 Trousers |
|
Export
Market |
4 Mark & Spencer -
UK 4 Wal-Mart - USA 4 GAP - Italy 4 Tesco - UK 4 Zara - UK |
|
Fabrics
& Accessories |
4 China 4 Korea 4 India |
|
Certifications |
NIL |
|
Group
Name |
NIL |
|
Subsidiaries
/ Affiliates |
4 Interstoff Clothing Ltd 4 Araf Apparels Ltd |
|
Member |
4 Bangladesh Garments
Manufacturers & Exporters Association 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.51.61 |
|
UK Pound |
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report
Prepared by : |
PDT |
|
Calling
|
PJA |
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.