MIRA INFORM REPORT

Report Date :

16.08.2013

IDENTIFICATION DETAILS

Name :	REGENT TEXTILE MILLS LTD.
Registered Office :	1182, Nur Ahmed Road, Lova Lane, Jubilee Road, Chittagong
Country :	Bangladesh
Date of Incorporation :	30.11.1994
Com. Reg. No.:	CH-1780
Legal Form :	Private Company
Line of Business :	Manufacturer of Twill, Sheeting & Canvas. (Fabrics)
No. of Employees :	525

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 31^st, 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

EXECUTIVE SUMMARY

Correct company Name	:	Regent Textile Mills Ltd.
Registered office	:	1182, Nur Ahmed Road, Lova Lane, Jubilee Road, Chittagong, Bangladesh.
Tel No	:	88-031-2868841-3
Fax No	:	88-031-2868807
E-mail	:	rtml@regenttex.com
Website	:	www.habibgroupbd.com
Date/ Year of Incorporation	:	30.11.1994
Registered No.	:	CH-1780
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) ________________
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.260 Million	Tk.99 Crore		Tk.3.75 Million
2012	Tk.262 Million	Tk.100Crore		Tk.4.20 Million
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

Sales Trend – Analysis:
2002	2003	2004	2005	2006	2007	2008	2010	2011	2012
-	-	-	-	-	-	-

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Sawpan Kumar Sarkar
Designation	:	Commercial AGM
Contract No	:	-

Locations Details
Business Address	:	1182, Nur Ahmed Road, Lova Lane, Jubilee Road, Chittagong, Bangladesh.
Tel No	:	88-031-2868841-3
E-mail	:	rtml@regenttex.com
Fax No	:	88-031-2868807
Website	:	www.habibgroupbd.com

Location :

: Owned

Rented

Ö

Leased

Area

4500

Sq. ft.

Type of Office :	: Commercial Office Bldg.	Ö		Semi-commercial office Bldg.
	Retail shop		Industrial Park
	Business Center		Home Office
	Residential Bldg.

Factory:
Address	:	East Kalurghat, Charkhidirpur, Bandar, Chittagong, Bangladesh.
Tel No	:	88-031-671170, 671439
Fax No	:	88-031-671000

Location :

Owned

Ö

Rented

Leased

4.5

Area

acres

Branches:
Address	:	Rang Arcade, Plot # 10 A, House # 153/A, (2nd Floor) Gulshan Avenue, Gulshan-2, Dhaka-1212, Bangladesh.
Tel No	:	88-02-8835719, 9883744
Fax No	:	-

Location :

Owned

Rented

Ö

Leased

Area

2400

Sq. ft.

Employee:
No. of Employees	In Office	:	35	In Factory	:	490
	In Branch:	:		Total	:	525
Details:	-

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share
Mr. Md. Yeasin Ali	1111115
Mr.Md. Yakub Ali	1105263
Mrs. Anjuman Ara Bgum	552632
Mrs. Salma Yasin	555553
Mrs. Amna Mahabub	694438
Mr. Tanvir Habib	486113
Ms. Tanima Mahabub	243057
Ms. Sarfinaz Mahabub	243057
Mr. Mashruf Habib	8772

DIRECTORS
Name	Designation
Mr. Md. Yeasin Ali	Managing Director
Mr.Md. Yakub Ali	Director
Mr. Mashruf Habib	Director

MANAGEMENT
Name	:	Mr. Sawpan Kumar Sarkar
Email address	:	-
Nationality	:	Bangladshi
Job Description	:	Commercial AGM
Other details	:	-

Name	:	Mr.Anwar Sadat Siddique
Email address	:	-
Nationality	:	Bangladshi
Job Description	:	DGM (Admin)
Other details	:	-

BUSINESS OPERATIONS
Nature of Activity :	Manufacturer	Ö	Trader		Dealer	Distributor	Ö
	Exporter	Ö	Importer	Ö	Others

Range of Products/Item Dealings In:
Products	:	Twill, Sheeting & Canvas. (Fabrics)
Production Capacity	:	Weaving: 10 Million Metres per day. Printing : 40 (forty) thousand meters per day Dyeing : 1.5 million meters of fabrics per month
Last Year Production	:	Do

Trading Terms:

Purchasing Terms:	L/C	Ö	Cash	Others
	Credit :		30 days	60 days	Ö	90 days	days

Selling Terms :	L/C	Ö	Cash	Ö	Others
	Credit :	Ö	30 days		60 days	90 days	days

DETAILED DATA
Trade Reference & Related Parties	:	Overseas Clients		:	N/A	Local Clients	:	Local Garments
		Overseas Suppliers		:	N/A	Local Suppliers	:	N/A
Trade Markets	:	Exports		:	Srilanka,Nepal, Europe
		Imports		:	China, India
Brand Name	:		N/A
Certified	:		N/A
Auditors	:		N/A
Operation Status	:		Active
Member	:		Bangladesh Textile Mills Association

CAPITAL STRUCTURE
Authorized Capital	:	Tk.60 Crore
Paid-up Capital	:	Tk.30,00,00,000	No. of Shares	:	30,00,000	Share Value	:	Tk.100.00Each
Main Assets	:	Tk.100 Crore

FINANCIAL STATEMENT- DETAILED

The subject company don’t submit update financial figure to local registry office.

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Sister Concerns	:	Regent Spinning Mills Ltd Habib Steels Limited MTS Re-rolling mills Limited Valiant Garments Ltd. Valiant Fashions Ltd. Anowara Fashion Ltd. Mudys Navigation Limited Legacy Fashions Ltd Tariq‑Adib Heimtex Mills Ltd Habib Shares and Securities Ltd Diamond Cement Ltd Regent Power Bangladesh Fertilizers & Agrochemicals Limited Anowara Paper Mill Habib Salt Noor Garments Ltd.
Subsidiary	:	N/A
Name of The Group	:	Habib Group

BANKING

Bank Name	:	Sonali Bank Ltd.
Bank Address	:	Agrabad Branch, Chittagong, Bangladesh

REPUTATION

Reference checking for purpose of establishing the Regent Textile Mills Ltd’s reputation within the respective industry failed to reveal any adverse information.

ADVERSE DATA MONITORING

Dishonored Checks	:	No Record Found
Debt		No Record Found
Litigation	:	Clear
Performance Defaults	:	No Record Found
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 commercial area. There office is well decorated& Mr. Sawpan Kumar Sarkar-Commercial AGM of the company was given us all information.

GENERAL COMMENTS

Based on the financial statement, the subject company financial performance appears to be Average. The subject company has been in its line of business about 19 years. Taking into account its standing history, reputation in the market, as well as its financial condition, we recommend that Credit can proceed normally in Moderate amount

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.51
UK Pound	1	Rs.94.98
Euro	1	Rs.81.62

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%)

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