|
Report Date : |
10.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
M & J GROUP |
|
|
|
|
Registered Office : |
Red Crescent Concord Tower (8th, 12th & 13th Floors), 17 Mohakhali
C/A, Dhaka 1212 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Year of Establishment : |
1965 |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
The Members of the Group All Are Private Limited Companies |
|
|
|
|
Line of Business : |
Manufacturer, Seller & Exporter of Ready Made Garments & Flours |
|
|
|
|
No. of Employees : |
44000 |
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 |
M &
J Group |
|
Address |
Red Crescent
Concord Tower (8th, 12th & 13th Floors), 17 Mohakhali C/A, Dhaka 1212 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8814048,
8851179, 8860858 |
|
Fax No |
880-2-8823859, 8837137 |
|
E-Mail |
|
|
Website |
|
|
Established |
1965 |
|
Company Registration No |
N/A |
|
Registration date |
N/A |
|
Legal Status |
The Members of the Group All Are Private
Limited Companies |
|
Issuing Authority |
The
Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer,
Seller & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
Red
Crescent Concord Tower (8th, 12th & 13th Floors), 17 Mohakhali C/A, Dhaka
1212 |
|
Telephone No |
880-2-8814048,
8851179, 8860858 |
|
Fax No |
880-2-8823859, 8837137 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
4 Plot No.228/1 (2nd & 3rd Floor), Tin Sarak,
Luxmipura, Joydevpur,
Gazipur, Dhaka 4 Vogra, Chandana, Gazipur Sadar, Gazipur 4 Kadda Nandun, Kadda Bazar, Gazipur Sadar,
Gazipur 4 S.B. Fazlul Haque Road, Sirajgonj |
|
Factory Tel No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
4 Plot No.228/1 (2nd & 3rd Floor), Tin Sarak,
Luxmipura,
Joydevpur, Gazipur, Dhaka 4 Vogra, Chandana, Gazipur Sadar, Gazipur 4 Kadda Nandun, Kadda Bazar, Gazipur Sadar, Gazipur 4 S.B. Fazlul Haque Road, Sirajgonj |
|
Mr. Salahuddin Ahmed |
|
|
Designation |
Chairman & Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tarique Ahmed
|
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Munir Ahmed
|
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer,
Seller & Exporter |
|
Items Dealing In |
Ready Made
Garments & Flours |
|
Terms of Purchase |
Import: Against L/C Local: Cash or Credit |
|
Terms of Sale |
Export: Against L/C |
|
Name |
First Security Islami Bank Ltd |
|
Branch |
Mohakhali Branch |
|
Address |
95 Mohakhali C/A, Dhaka |
|
SWIFT |
FSEBBDDHMKH |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.4 billion |
Tk.3.5 billion |
Tk.3.5 billion |
|
Turnover |
Tk.8 billion |
Tk.7.7 billion |
Tk.7.3 billion |
|
Liability |
Tk.75 million |
Tk.78 million |
Tk.80 million |
|
Assets |
Tk.8 million |
Tk.6 billion |
Tk.6 billion |
|
Authorized
Capital |
N/A |
|
Paid Up Capital |
N/A |
|
Each Share Value |
N/A |
|
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 |
4,4000 |
|
Office Area (Sq.
Ft) |
3,000 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
400,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
20,000 sq.ft.(rented) |
|
Range of
Products |
4 All
Kinds of Ready-Made Garments 4 Washing
& Dyeing of Ready-Made Garments 4 Flours |
|
Major Clients |
4 Replay 4 H
& M 4 New
Yorker 4 Esprit 4 C
& A 4 GAP 4 Old
Navy 4 Macys |
|
Certifications |
NIL |
|
Group Name |
N/A |
|
Group Companies |
4 Columbia Apparels Limited 4 Columbia Garments Limited 4 Columbia Washing Plant Limited 4 Genesis Fashion Limited 4 Genesis Washing Limited 4 Northern Flour Mills Limited |
|
Member |
4 Bangladesh
Garments Manufacturers & Exporters Association 4 Dhaka Chamber
of Commerce and Industries (DCCI) |
|
Business Scale |
Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.38 |
|
UK Pound |
1 |
Rs.83.99 |
|
Euro |
1 |
Rs.67.99 |
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.