|
Report Date : |
02.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHAITY COMPOSITE LIMITED |
|
|
|
|
Registered Office : |
Chotto Shilmondi, Tripurdi, Sonargaon, Narayanganj |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
16.04.2005 |
|
|
|
|
Com. Reg. No.: |
C-56416 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer &
Seller of Textile |
|
|
|
|
No. of Employees : |
630 |
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 : |
Slow |
|
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 |
|
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 |
Chaity Composite
Limited |
|
Address |
Chotto
Shilmondi, Tripurdi, Sonargaon, Narayanganj |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8923670 |
|
Fax No |
880-2-8913701,
8916485 |
|
E-Mail |
info@chaity.com |
|
Website |
|
|
Established |
2005 |
|
Company Registration No |
C-56416 |
|
Registration date |
16th
April 2005 |
|
Legal Status |
Private 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 |
Ashiqe Complex, 43, Chalabon, Azampur, Dhaka |
|
Telephone No |
880-2-8923670 |
|
Fax No |
880-2-8913701,
8916485 |
|
E-Mail |
info@chaity.com |
|
Website |
|
|
Branch |
NIL |
|
Factory |
Chotto
Shilmondi, Tripurdi, Sonargaon, Narayanganj |
|
Factory Telephone No |
NIL |
|
Factory Fax No |
NIL |
|
Warehouse |
Chotto Shilmondi,
Tripurdi, Sonargaon, Narayanganj |
|
Name |
Mrs. Rahmat Ara
Begum |
|
Designation |
Chairperson |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Abul Kalam |
|
Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Ms. Fahmida
Shabnam Chaity |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mrs. Rahmat Ara
Begum |
|
Share Percent |
Chairperson |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Abul Kalam |
|
Share Percent |
Managing
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Ms. Fahmida
Shabnam Chaity |
|
Share Percent |
Director |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer & Seller |
|
Items Dealing In |
Textile |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Name |
EXIM Bank
Limited |
|
Branch |
Uttara Branch |
|
Address |
Uttara, Dhaka |
|
SWIFT |
N/A |
|
Year |
As 31st March 2012 |
|
Investment |
Tk.33 million |
|
Turnover |
Tk.323.4 million |
|
Liability |
NIL |
|
Assets |
Tk.45 million |
|
Authorized
Capital |
Tk.3 million |
|
Paid Up Capital |
Tk.250,000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
118.7489 |
|
U.S Dollar |
1 |
78.1500 |
|
European Euro |
1 |
100.1961 |
|
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 |
630 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
35,000sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
6,500 sq.ft (own) |
|
Range of
Products |
4 Knitted Fabrics (Polyester, Cotton
Both) Single Jersey 4 Rib 4 Interlock 4 Stress fabrics (Fleece, Polar
Fleece, CVC Fleece) 4 Cotton terry 4 PK 100% Cotton 4 100% Polyester 4 Lycra Jersey 4 Terry 4 Fleece 4 Striper PK 4 Jersey 4 Lycra PK 4 Lycra Jersey |
|
Major
Clients |
4 Local Export
Oriented Knitwear Industries |
|
Certifications |
NIL |
|
Group Name |
4 Chaity Group |
|
Subsidiaries /
Affiliates |
4 Chaity Garments Ltd. 4 Chaity Apparels Ltd. 4 Nice Apparels Ind. Ltd. 4 Ashique Fashion Wear Ltd. 4 Ashique Jeans
Apparels Ltd. 4 Ashique Dress Design
Ltd. 4 Chaity Classic Sportswear (Mfg.) Co. Ltd 4 The Plasticman Ltd. 4 Kitway Pack. (Pvt.) Ltd. 4 Chaity Embroidery Ltd |
|
Member |
4 Bangladesh Textile Mills
Association, Dhaka 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.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.