|
Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
NASSA TAIPEI DENIMS LIMITED |
|
|
|
|
Registered Office : |
Plot No.4-11 and 22-29, Comilla Export
Processing Zone, Comilla |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
15.07.2003 |
|
|
|
|
Com. Reg. No.: |
C-49874 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing, Spinning & Selling of Denim Fabrics |
|
|
|
|
No. of Employees : |
610 |
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 |
NASSA TAIPEI DENIMS LIMITED |
|
Address |
Plot No.4-11 and 22-29, Comilla Export
Processing Zone, Comilla |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8819126, 8819127, 8826369, 9863191,
9112270, 8110753, 9123709 |
|
Fax No |
880-2–8823761, 8117293 |
|
E-Mail |
nassa@nassagroup.org |
|
Website |
www.nassagroup.org |
|
Established |
2003 |
|
Company Registration No |
C-49874 |
|
Registration date |
15th July 2003 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Chittagong |
|
Business Type |
Manufacturer, Spinner & Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local suppliers or banks. |
|
Head Office |
238 Tejgaon I/A, Gulshan Link Road,
Dhaka-1208 |
|
Telephone No |
880-2-8819126, 8819127, 8826369, 9863191,
9112270, 8110753, 9123709 |
|
Fax No |
880-2–8823761, 8117293 |
|
E-Mail |
nassa@nassagroup.org |
|
Website |
www.nassagroup.org |
|
Branch |
NIL |
|
Factory |
Plot No.4-11 and 22-29, Comilla Export
Processing Zone, Comilla |
|
Factory Tel No |
NIL |
|
Factory Fax No |
NIL |
|
Warehouse |
Plot No.4-11 and 22-29, Comilla Export
Processing Zone, Comilla |
|
Name |
Mr. Nazrul Islam Mazumdar |
|
Designation |
Chairman & Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Nasreen Islam |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Abdullah |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Altaf Hussain
|
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. SZE Tak Sang |
|
Designation |
Director |
|
Nationality |
Korean |
|
Name |
Mr. Nazrul Islam Mazumdar |
|
Share Percent |
26.35% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Mrs. Nasreen Islam |
|
Share Percent |
24.3% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Abdullah |
|
Share Percent |
25.35% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Altaf Hussain
|
|
Share Percent |
19% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Mr. SZE Tak Sang |
|
Share Percent |
5% |
|
Country |
Korean |
|
Line of Business |
Manufacturing, Spinning & Selling |
|
Items Dealing In |
Denim Fabrics |
|
Terms of
Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of
Purchase |
Local: Cash or Credit |
|
Name |
Janata Bank Limited |
|
Branch |
Tejgaon Branch |
|
Address |
7/I Tajgaon Industrial Area, Dhaka-1208 |
|
SWIFT |
JANBBDDHXXX |
|
Year |
As At 31st
March 2012 |
|
Investment |
Tk.32 million |
|
Turnover |
Tk.276.9 million |
|
Liability |
Tk.5 million |
|
Assets |
Tk.40 million |
|
Authorized
Capital |
Tk.100 million |
|
Paid Up Capital |
Tk.100,000,000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka
(BDT) |
|
Great Britain Pound |
1 |
119.9166 |
|
U.S Dollar |
1 |
78.0250 |
|
European Euro |
1 |
102.8370 |
|
Dishonored
Checks |
No Found |
|
Debt |
No Found |
|
Litigation |
No Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
|
Employees |
610 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
43,200 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
8,000 sq.ft (rented) |
|
Range of
Products |
4 Slub Denims 4 Cross-Hatch Denims 4 Tirted Denims 4 Shredded Denims |
|
Major
Clients |
4 Local Export Oriented
Garments Industries |
|
Certifications |
NIL |
|
Group Name |
4 Nassa Group |
|
Subsidiaries /
Affiliates |
4 Planet Travels Limited 4 LIZ Apparels Limited 4 Mam Garments Limited 4 Western Dresses Limited 4 Nassa Spinners Limited 4 Feroza Garments Limited 4 Bay Pacific Enterprise Limited 4 Nassa Embroidery Limited 4 Sun Seeds Apparels Limited 4 Toy Woods (BD) Co. Limited 4 Starlight Knitwear Limited 4 M.N.C. Apparels Limited 4 Nassa Knit Limited 4 Nassa Apparels Limited 4 New World Apparels Limited 4 Nassa Wash Limited 4 Native Packages Limited 4 Kimia Apparels Limited 4 Nassa Finishing Company 4 Kimia Garments Limited |
|
Member |
4 Dhaka Chamber
of Commerce & Industries, Dhaka 4 Bangladesh
Textile Mills Association |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.