|
Report Date : |
07.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
KENPARK BANGLADESH APPAREL (PVT.) LIMITED |
|
|
|
|
Registered Office : |
Plot No.69-85 Karnaphuli Exports Processing Zone, Chittagong-4223 |
|
|
|
|
Country : |
Bangladesh |
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|
|
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Date of Incorporation : |
2005 |
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|
|
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Com. Reg. No.: |
CH-5590 |
|
|
|
|
Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Manufacturer & Exporter of Ready-Made
Garments |
|
|
|
|
No. of Employees : |
2,100 |
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 (31.03.2012) |
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 |
KENPARK BANGLADESH APPAREL (PVT.) LIMITED |
|
Address |
Plot No.69-85 Karnaphuli Exports Processing Zone, Chittagong-4223 |
|
Country |
Bangladesh |
|
Telephone No |
880-31-742163, 742002-3 |
|
Fax No |
880-31-741573, 740123 |
|
E-Mail |
info@hirdaramani.com,
info@kenpark-bangladesh.com |
|
Website |
www.hirdaramani.com,
www.kenpark-bangladesh.com |
|
Established |
2005 |
|
Company Registration No |
CH-5590 |
|
Registration date |
14th September 2005 |
|
Legal Status |
Private Limited Company |
|
Issuing Authority |
The Registrar of Joint Stock of Companies & Firms, Chittagong |
|
Business Type |
Manufacturer & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local suppliers
or banks. |
|
Head Office |
Plot No.69-85 Karnaphuli Exports Processing Zone, Chittagong-4223 |
|
Telephone No |
880-31-742163, 742002-3 |
|
Fax No |
880-31-741573, 740123 |
|
E-Mail |
info@hirdaramani.com,
info@kenpark-bangladesh.com |
|
Website |
www.hirdaramani.com,
www.kenpark-bangladesh.com |
|
Branch |
NIL |
|
Factory |
Plot No.69-85 Karnaphuli Exports Processing Zone, Chittagong-4223 |
|
Factory Telephone No |
NIL |
|
Factory Fax No |
NIL |
|
Warehouse |
Plot No.69-85 Karnaphuli Exports Processing Zone, Chittagong-4223 |
|
Name |
Mr. Janak B. Hirdaramani |
|
Designation |
Chairman & Managing Director |
|
Nationality |
Sri Lankan |
|
|
|
|
Name |
Mr. Mahesh L. Hirdaramani |
|
Designation |
Director |
|
Nationality |
Sri Lankan |
Note: Changed in
2012
|
Name |
Mr. Janak B. Hirdaramani |
|
Share Percent |
0.14% |
|
Nationality |
Sri Lankan |
|
|
|
|
Name |
Mr. Mahesh L. Hirdaramani |
|
Share Percent |
0.14% |
|
Nationality |
Sri Lankan |
|
|
|
|
Name |
International Group Venture Limited |
|
Share Percent |
99.7% |
|
Country |
Sri Lanka |
Note: Changed in
2012
|
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 |
|
Production
Capacity |
180,000 dozens per year |
|
Last Year
Production |
180,000 dozens |
|
Name |
Hong Kong Shanghai Banking Corporation |
|
Branch |
Agrabad Branch |
|
Address |
Agrabad Commercial Area, Chittagong |
|
SWIFT |
N/A |
|
|
|
|
Name |
Commercial Bank of Ceylon Plc |
|
Branch |
Agrabad Branch |
|
Address |
Agrabad Commercial Area, Chittagong |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.35 million |
Tk.35 million |
Tk.33 million |
|
Turnover |
Tk.433.6 million |
Tk.433 million |
Tk.430.7 million |
|
Liability |
Tk.7.5 million |
Tk.8 million |
Tk.10 million |
|
Assets |
Tk.30 million |
Tk.52 million |
Tk.50 million |
|
Authorized
Capital |
Tk.210 million |
|
Paid Up Capital |
Tk.70 million |
|
Each Share Value |
Tk.1000.00 |
Note: Changed in
2012
|
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 Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
|
Employees |
2,100 |
|
Office Area (Sq.
Ft) |
2,500 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
35,000 Sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
5,500 Sq.ft (rented) |
|
Range of
Products |
4 Jeans 4 Skirts 4 Chino Trousers 4 Cargos 4 Adjustable Elasticated Pants 4 Reversible Jackets 4 Fleece 4 Gilets 4 Pleated Skirts 4 Pinafores 4 Pajamas 4 Swimwear |
|
Export Market |
4 Judge-USA 4 K-Mart-USA 4 Wal-Mart-USA 4 Levi Strauss & Co |
|
Certifications |
4 WRAP |
|
Group Name |
4 Hirdaramani Group of Companies, Sri Lanka |
|
Subsidiaries /
Affiliates |
4 Hirdaramani International Export (Pvt.) Ltd 4 Hirdaramani Industries Limited 4 Hirdaramani Garments Limited 4 Ceylon Knit Trend Limited 4 Hirdaramani Mercury Apparel (Pvt.) Ltd 4 Kenpark Bangladesh (Pvt.) Ltd 4 Regency Garments Ltd. 4 Fashion Garments Ltd. 4 Vivanta by Taj Bentota 4 Taj Airport Garden 4 Hilton Colombo Residence 4 Banyan Lanka 4 H-One (Pvt) Ltd. 4 The Long Island Clothing Company 4 First Guardian Equities 4 Zenith Insurance Brokers (Pvt.) Ltd |
|
Member |
4 Bangladesh Garments Manufacturers & Exporters Association 4 Chittagong Chamber of Commerce & Industries, Chittagong |
|
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 |
|
UK Pound |
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
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.