|
Report Date : |
15.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
DIRD COMPOSITE TEXTILES LIMITED |
|
|
|
|
Registered Office : |
Faruk Rupayan Tower (12th & 13th
Floor), 32, Kamal Ataturk Avenue, Banani, Dhaka-1213 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
16.07.2005 |
|
|
|
|
Com. Reg. No.: |
C-56239 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing & Exporting of Ready-Made Garments &
Fabrics |
|
|
|
|
No. of Employees : |
3,682 |
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 |
|
Maximum Credit Limit : |
US$ 30,000.00 |
|
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 |
Dird Composite Textiles Limited |
|
Address |
Faruk Rupayan Tower (12th
& 13th Floor), 32, Kamal Ataturk Avenue, Banani, Dhaka-1213 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8825397,
9886747, 9896272, 9896368, 9896297 |
|
Fax No |
880-2-8823621 |
|
E-Mail |
|
|
Website |
|
|
Established |
2005
|
|
Company Registration No |
C-56239 |
|
Registration date |
16th July 2005 |
|
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 |
Faruk Rupayan Tower (12th & 13th Floor), 32,
Kamal Ataturk Avenue, Banani, Dhaka-1213 |
|
Telephone No |
880-2-8825397, 9886747,
9896272, 9896368, 9896297 |
|
Fax No |
880-2-8823621 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
Shatiabari,
Dhaladia, Rajendrapur, Sreepur, Gazipur |
|
Factory Tel No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Shatiabari,
Dhaladia, Rajendrapur, Sreepur, Gazipur |
|
Name |
Mr. Itemad-Ud-Daulah |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Nabeel
Ud Daulah |
|
Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Shejuti Daulah |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Itemad-Ud-Daulah |
|
Share Percent |
33.33% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Mr. Nabeel
Ud Daulah |
|
Share Percent |
33.33% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Mrs. Shejuti Daulah |
|
Share Percent |
33.33% |
|
Country |
Bangladeshi |
|
Line of Business |
Manufacturing
& Exporting |
|
Items Dealing In |
Ready-Made
Garments & Fabrics |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of
Purchase |
Export: Against L/C |
|
Name |
Pubali Bank Ltd |
|
Branch |
Kawran Bazar
Corp. Branch |
|
Address |
Kawran Bazar
C/A, Dhaka |
|
SWIFT |
PUBABDDHA215 |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.40 million |
Tk.40 million |
Tk.38 million |
|
Turnover |
Tk.425.6 million |
Tk.425 million |
Tk.423 million |
|
Liability |
Tk.7.6 million |
Tk.8 million |
Tk.10 million |
|
Assets |
Tk.52 million |
Tk.52 million |
Tk.50 million |
|
Authorized
Capital |
Tk.500 million |
|
Paid Up Capital |
Tk.100 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
128.3950 |
|
U.S Dollar |
1 |
79.6100 |
|
European Euro |
1 |
106.2077 |
|
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 |
|
Amount |
Based On |
|
US$ 30,000.00 |
90 days |
|
Employees |
3,682 |
|
Office Area (Sq.
Ft) |
2,300 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
4,75,200 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
15,000 sq.ft.(rented) |
|
Range of
Products |
4 T-Shirt 4 Polo Shirt 4 Tank Top 4 Cut and Sewn T-Shirt 4 Polo Shirts 4 Sweat Shirt 4 Jackets 4 Hoody 4 Turtle Neck 4 Strap Tee 4 Shorts 4 Trouser 4 Other Fancy Dresses 4 Fabrics |
|
Export
Market |
4 Marks & Spencer 4 s. Oliver 4 Next 4 Tesco 4 Sainsbury’s 4 Hanes 4 Stanley &
Stella 4 Decathlon |
|
Certifications |
NIL |
|
Group Name |
4 DIRD Group |
|
Subsidiaries /
Affiliates |
4 Dird Garments Limited 4 Dird Washing Plant Limited 4 Dird Printing & Embroidery Limited 4 Dird Private Limited 4 Dird Felt Limited 4 Dird Polytex Limited 4 Dipta Orchids Limited |
|
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.54.63 |
|
|
1 |
Rs.88.17 |
|
Euro |
1 |
Rs.73.13 |
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.