MIRA
INFORM REPORT
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Report Date : |
06.08.2013 |
IDENTIFICATION DETAILS
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Name : |
ARRAY INTERNATIONAL LTD. |
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Registered Office : |
House#521, Road#10, DOHS Baridhara, Dhaka-1208 |
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Country : |
Bangladesh |
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Date of Incorporation : |
23.05.2004 |
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Com. Reg. No.: |
C-52854 |
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Legal Form : |
Private Co
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Line of Business : |
Manufacturer & Distributor
of Garment Accessories |
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No. of Employees : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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Bangladesh |
B1B |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
ARRAY
INTERNATIONAL LTD. |
|
Registered office |
: |
House#521, Road#10, DOHS Baridhara, Dhaka-1208, Bangladesh |
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Tel No |
: |
88-02-8412151, 8416113, 8414697, 8410483, 8412151 |
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Fax No |
: |
88-02-8415546 |
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E-mail |
: |
mis@radiancegroup-bd.com info@radiancegroup-bd.com belal@radiancegroup-bd.com |
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Website |
: |
www.radiancegroup-bd.com |
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Date/ Year of Incorporation |
: |
23.05.2004 |
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Registered No. |
: |
C-52854 |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
|
Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
: |
Registrar
of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
|
|
2011 |
Tk.115 Million |
Tk.23 Million |
Tk.2.5 million |
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2012 |
Tk.118 Million |
Tk.25 Million |
Tk.2.75 Million |
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Exchange Rate |
USD1-Tk. 77.8200 EUR 1- Tk. 100.2711 GBP 1- Tk.118.5354 AUD 1 - Tk.82.8563 JPY 1 - Tk.0.9286 |
CAD 1 - Tk.80.1887 SEK 1 - Tk.12.2870 SGD 1 - Tk.65.3045 CNH 1 - Tk.12.8399 |
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Sales Trend – Analysis: |
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2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
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- |
- |
- |
- |
- |
- |
- |
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Locations Details |
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Business Address |
: |
House#521, Road#10, DOHS Baridhara, Dhaka-1208, Bangladesh |
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Tel No |
: |
88-02-8412151, 8416113, 8414697, 8410483, 8412151 |
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E-mail |
: |
mis@radiancegroup-bd.com info@radiancegroup-bd.com belal@radiancegroup-bd.com |
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Fax No |
: |
88-02-8415546 |
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Website |
: |
www.radiancegroup-bd.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
2400 |
Sq. ft. |
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Type of Office :
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: Commercial Office Bldg. |
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Semi-commercial office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
Ö |
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Factory: |
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Address |
: |
Shibrampur, Zirani Bazar, Gazipur, Bangladesh |
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Tel No |
: |
88-02-9884546 |
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Fax No |
: |
- |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
25,000 |
Sq. ft. |
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Employee: |
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No. of
Employees |
In Office |
: |
7 |
In Factory |
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28 |
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In Branch: |
: |
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Total |
: |
35 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of
Shareholders |
No. of Share |
|
Kamrun Nahar Islam(Doly) |
5000 |
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Md. Shahidul Islam (Shahed) |
43287 |
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Md. Shariful Islam |
1713 |
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Salman Farsy Sunny |
1000 |
DIRECTORS
|
Name |
Designation |
|
Md. Shahidul Islam (Shahed) |
Managing Director |
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Kamrun Nahar Islam(Doly) |
Director |
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Md. Shariful Islam |
Director |
|
Salman Farsy Sunny |
Director |
MANAGEMENT
|
Name |
: |
Mr. Md. Delwar Hossain |
|
Contract |
: |
88-0171409006 |
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Nationality |
: |
Bangladeshi |
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Job Description |
: |
DGM |
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Other details |
: |
- |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
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Others |
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Range of
Products/Item Dealings In: |
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Products |
: |
Garment Accessories |
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Production
Capacity |
: |
N/A |
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Last Year
Production |
: |
N/A |
Trading Terms:
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Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
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90 days |
Ö |
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days |
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Selling
Terms : |
L/C |
Ö |
Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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|
days |
DETAILED DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local garments |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
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N/A |
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Trade Markets |
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Exports |
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N/A |
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Imports |
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China, India |
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Brand Name |
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N/A |
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Certified |
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N/A |
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Auditors |
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N/A |
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Operation Status |
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Active |
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Member |
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N/A |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk. 2,00,00,000 |
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Paid-up
Capital |
: |
51,00,000 |
No.
of Shares |
: |
51,000 |
Share
Value |
: |
Tk.100 Each |
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Main
Assets |
: |
Tk.25 Million |
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FINANCIAL STATEMENT- DETAILED
The subject company didn’t submit any financial information to local
registry office till now.
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
Sister Concerns |
: |
Radial International Ltd. Radiance Fashion Ltd. Radiance Entertainment Ltd Simanta Textile Ltd. Radiance Computer Ltd. Suchi Fashion Ltd. D.S. Fashion Ltd Cherry Knit Wear Ltd Salman Spinning Mills Ltd Sirajgonj Check Industries Ltd Radiance Jeans Ltd. |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Radiance Group. |
BANKING
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Bank Name |
: |
Mercantile Bank Ltd |
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Bank Address |
: |
Main Branch Gulshan CES (A), 54(A), Gulshan Avenue Fax: 88-02-8835615 Phone: 8835276-7, 8835614 Gulshan Model Town, Dhaka |
REPUTATION
The subject company has good reputation in
local market.
ADVERSE DATA MONITORING
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Dishonored
Checks |
: |
No Record Found |
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Debt |
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No Record Found |
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Litigation |
: |
Clear |
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Performance
Defaults |
: |
No Record Found |
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Adverse Local
Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE VISIT COMMENTARY
Our representative visited the subject
company Head office which is situated at House#521, Road#10, DOHS Baridhara,
Dhaka-1208, Bangladesh. It is situated at residential area but well decorated.
GENERAL COMMENTS
Established about 9 years & as well as its financial condition, we
recommended that Credit can proceed normally in Moderate amount
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.82 |
|
|
1 |
Rs.92.97 |
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Euro |
1 |
Rs.80.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.