|
Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL FABRICS (PVT.) LIMITED |
|
|
|
|
Registered Office : |
House# 91, Road# 10, Block# D,
Niketon, Gulshan-1, Dhaka-1212 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
12.06.1984 |
|
|
|
|
Com. Reg. No.: |
CH-13217 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer & Exporter of Terry
Towels |
|
|
|
|
No. of Employees : |
500 |
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 |
Global Fabrics
(Pvt.) Limited |
|
Address |
Plot No. 17-19, Sector-01, Export Processing
Zone, Chittagong |
|
Country |
Bangladesh |
|
Telephone No |
880-31-740958, 741402 |
|
Fax No |
880-31-741113 |
|
E-Mail |
|
|
Website |
|
|
Established |
1984 |
|
Company Registration No |
CH-13217 |
|
Registration date |
12th June 1984 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of
Joint Stock Companies & Firms, Chittagong |
|
Business Type |
Manufacturer & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
|
Head Office |
House# 91, Road# 10, Block# D, Niketon, Gulshan-1, Dhaka-1212,
Bangladesh |
|
Telephone No |
880-2-9883289, 9883559 |
|
Fax No |
880-2-9880146 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
Plot No. 17-19, Sector-01, Export Processing
Zone, Chittagong |
|
Factory Telephone No |
880-31-740958, 741402 |
|
Factory Fax No |
880-31-741113 |
|
Warehouse |
Plot No. 17-19, Sector-01, Export Processing
Zone, Chittagong |
|
Name |
Lt. Col. (Retd)
M. Anisuzzaman |
|
Designation |
Chairman & Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Shafquat Matin |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Lt. Col. (Retd) M.
Anisuzzaman |
|
Share Percent |
60% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Shafquat Matin |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer & Exporter |
|
Items Dealing In |
Terry Towels |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Export: Against L/C |
|
Name |
Dhaka Bank Limited |
|
Branch |
Gulshan Branch |
|
Address |
Plot # 7, Block #
SE(D), Holding # 24, Gulshan Avenue, Gulshan-1, Dhaka-1212 |
|
SWIFT |
DHBLBDDHGUL |
|
|
|
|
Name |
Janata Bank Limited |
|
Branch |
Agrabad Branch |
|
Address |
Agrabad C/A,
Chittagong |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.42 million |
Tk.40 million |
Tk.40 million |
|
Turnover |
Tk.380 million |
Tk.378.6 million |
Tk.378 million |
|
Liability |
Tk.6 million |
Tk.7.5 million |
Tk.8 million |
|
Assets |
Tk.50 million |
Tk.48 million |
Tk.48 million |
|
Authorized
Capital |
Tk.10 million |
|
Paid Up Capital |
Tk.2 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
119.6817 |
|
U.S Dollar |
1 |
78.0550 |
|
European Euro |
1 |
102.0257 |
|
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 |
500 |
|
Office Area (Sq.
Ft) |
1,800 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
35,000 Sq.Ft. (leased) |
|
Warehouse Area
(Sq. Ft) |
5,000 sq.ft.(leased) |
|
Range of
Products |
4 Terry Towel 4 Bath Towel 4 Hand Towel 4 Kitchen Towel 4 Shop Towel 4 Maxi Mop 4 Bar Mop 4 Wash Cloth 4 Polishing Cloth 4 Grill Pad |
|
Export Market |
4 USA 4 Canada 4 Australia 4 Japan |
|
Certification |
NIL |
|
Group Name |
NIL |
|
Subsidiaries / Affiliates |
4 Zaman Dyeing
& Fabrics Limited |
|
Member |
4 Chittagong
Chamber of Commerce & Industries, Chittagong 4 France
Bangladesh Chamber of Commerce & Industries 4 Bangladesh
Terry Towel and Linen manufacturers and 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.54.63 |
|
UK Pound |
1 |
Rs.83.70 |
|
Euro |
1 |
Rs.71.42 |
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.