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Report Date : |
28.02.2013 |
IDENTIFICATION DETAILS
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Name : |
S.Q. BIRICHINA LIMITED |
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Formerly Known As : |
SQ Quantum Clothing Limited |
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Registered Office : |
SQ Group, Rangs Bhaban (9th Floor), 113-116 Old Airport
Road, Tejgaon, Dhaka 1215 |
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Country : |
Bangladesh |
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Date of Incorporation : |
11.09.2007 |
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Com. Reg. No.: |
C-68326 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Manufacturer & Exporter of Ready Made Garments |
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No. of Employees : |
2,000 |
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 |
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Payment Behaviour : |
No Complaints |
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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 – 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 |
S.Q. Birichina Limited (Previous Name: SQ Quantum Clothing Limited) |
|
Address |
Plot No. 221, 222 And 223 Jamirdia, Seed Store Bazar,
Valuka, Mymensingh |
|
Country |
Bangladesh |
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Telephone No |
880-2-9127905 |
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Fax No |
880-2-8116673 |
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E-Mail |
|
|
Website |
|
|
Established |
2007 |
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Company Registration No |
C-68326 |
|
Registration date |
11th September 2007 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The
Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer
& Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
SQ Group, Rangs Bhaban (9th Floor), 113-116 Old Airport
Road, Tejgaon, Dhaka 1215 |
|
Telephone No |
880-2-9127905 |
|
Fax No |
880-2-8116673 |
|
E-Mail |
|
|
Website |
|
|
Branch |
391A Orchard Road#12-01 Ngee Ann City, Tower A |
|
Factory |
Plot No. 221, 222 And 223 Jamirdia, Seed Store Bazar,
Valuka, Mymensingh |
|
Factory Tel No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Plot No. 221, 222 And 223 Jamirdia, Seed Store Bazar,
Valuka, Mymensingh |
|
Name |
Mr. M. Gulam Faruq |
|
Designation |
Chairman &
Managing Director |
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Nationality |
Bangladeshi |
|
|
|
|
Name |
Ms. Salima
Bensaid |
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Designation |
Vice-Chairperson |
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Nationality |
Bangladeshi |
|
|
|
|
Name |
Ms. Boutaina
Meryam Faruq |
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Designation |
Director |
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Nationality |
Bangladeshi |
|
Name |
Mr. M. Gulam
Faruq |
|
Share Percent |
0.3% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Ms. Salima
Bensaid |
|
Share Percent |
96.2% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Ms. Boutaina Meryam
Faruq |
|
Share Percent |
1.2% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
S.Q. Holding
Limited |
|
Share Percent |
2.3% |
|
Country |
Bangladesh |
|
Line of Business |
Manufacturer
& Exporter |
|
Items Dealing In |
Ready Made
Garments |
|
Terms of Purchase |
Import: Against L/C |
|
Terms of
Purchase |
Local: Cash or Credit |
|
Production
Capacity |
Shirts: 2,400,000 pieces per year Lingerie: 10.8 million pieces per year |
|
Name |
Standard Chartered Bank |
|
Branch |
Gulshan Branch |
|
Address |
Block-NW(A), 189 Gulshan Avenue (North), Gulshan |
|
SWIFT |
SCBLBDDXXXX |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.38 million |
Tk.38 million |
Tk.35 million |
|
Turnover |
Tk.320.7 million |
Tk.320 million |
Tk.318 million |
|
Liability |
Tk.9.5 million |
Tk.10 million |
Tk.12 million |
|
Assets |
Tk.46 million |
Tk.46 million |
Tk.44 million |
|
Authorized
Capital |
Tk.1.5 billion |
|
Paid Up Capital |
Tk.86,000,000.00 |
|
Each Share Value |
Tk.10.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
119.3612 |
|
U.S Dollar |
1 |
78.8800 |
|
European Euro |
1 |
103.0567 |
|
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 |
2,000 |
|
Office Area (Sq.
Ft) |
2,200 sq.ft (owned) |
|
Factory Area
(Sq. Ft) |
60,000 sq ft (owned) |
|
Warehouse Area
(Sq. Ft) |
7,000 sq ft (owned) |
|
Range of
Products |
4 Sweaters 4 Shirts 4 Lingerie |
|
Export Markets |
4 France 4 Spain 4 United Kingdom 4 Sweden 4 Denmark 4 Belgium 4 Italy 4 Germany 4 USA |
|
Certifications |
NIL |
|
Group Name |
4 SQ Group |
|
Subsidiaries /
Affiliates |
4 SQ Sweaters
Limited 4 Sweater
Boutique Limited 4 SQ Celsius
Limited 4 SQ Hues Limited 4 SQ Stevensons Chroma
Limited |
|
Member |
4 Dhaka Chamber
of Commerce & Industries, Dhaka 4 France
Bangladesh Chamber of Commerce & Industries 4 Bangladesh Garments Manufacturers
& Exporters Association |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.84 |
|
UK Pound |
1 |
Rs.81.24 |
|
Euro |
1 |
Rs.70.39 |
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.