|
Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MATSY PACKAGING LIMITED |
|
|
|
|
Registered Office : |
94/95 (Old) 46 (New), Ground
Floor, Block # C, Tongi Industrial Area, Tongi, Gazipur |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
03.06.2005 |
|
|
|
|
Com. Reg. No.: |
C-46007 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer & Seller of Garments
Accessories |
|
|
|
|
No. of Employees : |
130 |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
In real terms Bangladesh's economy has grown 5.8% 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 |
MATSY PACKAGING LIMITED |
|
Address |
94/95 (Old) 46 (New), Ground Floor, Block # C,
Tongi Industrial Area, Tongi,
Gazipur |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8826208, 8814575, 8827035 |
|
Fax No |
880-2-9883185 |
|
E-Mail |
|
|
Website |
|
|
Established |
2005 |
|
Company Registration No |
C-46007 |
|
Registration date |
3rd June 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 |
House # 111, Road # 35, Gulshan, Dhaka # 1212 |
|
Telephone No |
880-2-8826208, 8814575, 8827035 |
|
Fax No |
880-2-9883185 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
94/95 (Old) 46 (New), Ground
Floor, Block # C, Tongi Industrial Area, Tongi, Gazipur |
|
Factory Tel No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
94/95 (Old) 46 (New), Ground
Floor, Block # C, Tongi Industrial Area, Tongi, Gazipur |
|
Name |
Mr. Feroz M. Hassan |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Faruque Hassan |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Rakib Sajjad |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Feroz M. Hassan |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Faruque Hassan |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Rakib Sajjad |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer & Seller |
|
Items Dealing In |
Garments Accessories |
|
Terms of
Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Name |
Janata Bank Limited |
|
Branch |
Local Office Branch |
|
Address |
1, Dilkusha, C/A, Dhaka-1000 |
|
SWIFT |
JANBBDDHAJBD |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.23 million |
Tk.22 million |
Tk.22 million |
|
Turnover |
Tk.179.5 million |
Tk.178.6 million |
Tk.178 million |
|
Liability |
Tk.4.6 million |
Tk.5 million |
Tk.5.2 million |
|
Assets |
Tk.34 million |
Tk.33 million |
Tk.33 million |
|
Authorized
Capital |
Tk.10 million |
|
Paid Up Capital |
Tk.1 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka
(BDT) |
|
Great Britain Pound |
1 |
118.5143 |
|
U.S Dollar |
1 |
77.7500 |
|
European Euro |
1 |
103.1354 |
|
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 |
130 |
|
Office Area (Sq.
Ft) |
2,000 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
50,000 Sqf (rented) |
|
Warehouse Area
(Sq. Ft) |
10,000 sq.ft.(rented) |
|
Range of
Products |
4 Garments Accessories |
|
Export
Market |
4 Local Garments Industries |
|
Certification |
NIL |
|
Group Name |
4 Giant Group |
|
Subsidiaries /
Affiliates |
4 Giant Garment Industries (Pvt.) Ltd 4 Mavis Garments Ltd. 4 Six-H Garments Ltd. 4 Shafi Processing Industries Limited, Unit - 1 4 Giant Apparel Ltd. 4 Giant Textile Ltd. 4 Shafi Processing Industries Ltd 4 Giant Distribution Limited 4 Giant Management & Services Limited 4 Speedwell Ltd 4 Jamuna Apparels Ltd 4 Speedwell Fashions Limited 4 Giant-Shafi Holdings Ltd 4 Giant Agro Processing 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.61.11 |
|
|
1 |
Rs.92.97 |
|
Euro |
1 |
Rs.80.93 |
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.