|
Report Date : |
07.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
AKH SHIRTS LIMITED |
|
|
|
|
Registered Office : |
AKH Tower, 133-134 Hemayetpur (Ground & 4th Floor), Savar, Dhaka-1340 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
03.09.2005 |
|
|
|
|
Com. Reg. No.: |
C-64459 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer &
Exporter of Ready-Made Garments |
|
|
|
|
No. of Employees : |
800 |
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 (31.03.2011) |
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 |
AKH Shirts Limited |
|
Address |
AKH Tower, 133-134 Hemayetpur (Ground & 4th
Floor), Savar, Dhaka-1340 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-7744001-8, 7741830-31 |
|
Fax No |
880-2-8155640-41 |
|
E-Mail |
|
|
Website |
|
|
Established |
2005 |
|
Company Registration No |
C-64459 |
|
Registration date |
3rd
September 2005 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Register 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 |
AKH Tower, 133-134 Hemayetpur (Ground & 4th
Floor), Savar, Dhaka-1340 |
|
Telephone No |
880-2-7744001-8, 7741830-31 |
|
Fax No |
880-2-8155640-41 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
AKH Tower, 133-134 Hemayetpur (Ground & 4th
Floor), Savar, Dhaka-1340 |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
AKH Tower, 133-134 Hemayetpur (Ground & 4th
Floor), Savar, Dhaka-1340 |
|
Name |
Mr. Delwar
Hossain |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Shamshul
Alam |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abul
Kashem |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Delwar
Hossain |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Shamshul
Alam |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abul
Kashem |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer & Exporter |
|
Items Dealing In |
Ready-Made Garments |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Export: Against L/C |
|
Name |
Prime Bank
Limited |
|
Branch |
Savar Branch |
|
Address |
KK Plaza (1st floor), Holding # A-91, Word # 5, Savar Bazar Road,
Savar, Dhaka |
|
SWIFT |
PRBLBDDHXXX |
|
|
|
|
Name |
United
Commercial Bank Limited |
|
Branch |
Savar Branch |
|
Address |
Sugandha Super Market, Savar Bus Stand, Ward No- 3, Savar Pourashava,
Upazilla- Savar, District- Dhaka |
|
SWIFT |
UCBLBDDHXXX |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.35 million |
Tk.33 million |
Tk.33 million |
|
Turnover |
Tk.338 million |
Tk.336 million |
Tk.336 million |
|
Liability |
Tk.8 million |
Tk.9.5 million |
Tk.10 million |
|
Assets |
Tk.42 million |
Tk.40 million |
Tk.40 million |
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.150,000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
129.6910 |
|
U.S Dollar |
1 |
79.8000 |
|
European Euro |
1 |
105.2402 |
|
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 |
800 |
|
Office Area (Sq.
Ft) |
2,200 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
40,200 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
6,500 sq.ft.(rented) |
|
Range of
Products |
4 Shirts |
|
Export Market |
USA 4 Gap 4 Kohl's 4
Wrangler 4 PVH 4
JC-Penney 4 Sears 4 K-Mart 4
American Eagle 4 Eddie
Bauer 4 Macy 4 Costco 4 Kenneth
Cole 4 Hagger Canada 4 Gap 4 Kohl's 4 Sears 4 K-Mart 4 Costco 4 YM Inc 4
Bluenotes 4 Kenneth
Cole Europe 4
M&S-UK 4 Next 4
Debenhams 4 Mackays 4
Sainsburys 4 C&A
Mondial 4 LIDL 4
GuldenFennig GmbH-(Aldi,Tchibo) 4 Mosgen
Ltd. (Ernsting's Family) 4 Rica
Lewis 4 B&C 4
Benetton 4 Pierre
Cardin 4 Shop
Direct 4 Kigili 4 Zara
Berska 4 De
Bijenkorf Japan 4
ITOYOUKADO 4 TAKA-Q |
|
Fabrics &
Accessories |
4 Hong Kong 4 China 4 Local Sources 4 India 4 Pakistan |
|
Certifications |
NIL |
|
Group Name |
4AKH Group |
|
Subsidiaries /
Affiliates |
4 AKH
Knit Wear Ltd 4 AKH
Fashions Ltd 4 AKH
Cargo Service 4 AKH
Stitch Art Ltd 4 AKH
Knitting & Dyeing Ltd 4 AKH
Packaging & Accessories Ltd 4 Angshuk
Ltd 4 AKH
Trims Ltd 4 AKH
Textile Industries Ltd 4 AKH
Washing Ltd 4 AKH
Cargo Ltd 4
Creative Shirts Ltd (Joint Venture) 4 Sabah
Trade International Ltd |
|
Member |
4 Bangladesh Knitwear 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.54.84 |
|
|
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.