|
Report Date : |
22.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
ENVOY TEXTILES LIMITED |
|
|
|
|
Registered Office : |
Envoy Tower, 18/E,Lake Circus, Kalabagan, West Panthapath, Dhaka-1205 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
18.06.1995 |
|
|
|
|
Com. Reg. No.: |
C-28622 |
|
|
|
|
Legal Form : |
Public Limited |
|
|
|
|
Line of Business : |
Manufacturer, Exporter & Seller of Fabrics |
|
|
|
|
No. of Employees : |
850 |
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, 31st, 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 |
|
Name |
ENVOY TEXTILES LIMITED |
|
Address |
Envoy Tower, 18/E,Lake Circus, Kalabagan, West Panthapath, Dhaka-1205 |
|
Country |
Bangladesh |
|
880-2-9102583-90 |
|
|
Fax No |
880-2-9103128-29 |
|
E-Mail |
info@envoytextiles.com |
|
Website |
www.envoytextiles.com |
|
Established |
1995 |
|
Commercial Production From |
2005 |
|
Company Registration No |
C-28622 |
|
Registration date |
18th June 1995 |
|
Legal Status |
Public 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 |
Envoy Tower, 18/E,Lake Circus, Kalabagan, West Panthapath, Dhaka-1205 |
|
Telephone No |
880-2-9102583-90 |
|
Fax No |
880-2-9103128-29 |
|
E-Mail |
info@envoytextiles.com |
|
Website |
www.envoytextiles.com |
|
Branch |
NIL |
|
Factory |
Jamirdia, Bhaluka, Mymensingh, Bangladesh |
|
Factory Telephone No |
880-2-880682 - 555037 |
|
Factory Fax No |
N/A |
|
Warehouse |
Jamirdia, Bhaluka, Mymensingh, Bangladesh |
|
Name |
Mr. Kutub Uddin Ahmed |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abdus Salam Murshedi |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. S. Faisal Ali |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mostaba Zaman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ghulam Rabbani Chowdhury |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Faruk Hossain |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. A.K.M Golam Jakaria |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Robiul Hasan |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zafor Ullah |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mahabub Alam |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tanvir Ahamed Siddik |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mazibur Rahman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abul Khair |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Rashida Ahmed |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Sharmin Salam |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tanvir Ahmed |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Ms. Shehrin Salam Oishee |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Kutub Uddin Ahmed |
|
Share Percent |
3.9% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abdus Salam Murshedi |
|
Share Percent |
3.9% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. S. Faisal Ali |
|
Share Percent |
1.3% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mostaba Zaman |
|
Share Percent |
1% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ghulam Rabbani Chowdhury |
|
Share Percent |
0.01% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Faruk Hossain |
|
Share Percent |
0.015% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. A.K.M Golam Jakaria |
|
Share Percent |
0.01% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Robiul Hasan |
|
Share Percent |
0.08% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Zafor Ullah |
|
Share Percent |
0.012% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mahabub Alam |
|
Share Percent |
0.001% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tanvir Ahamed Siddik |
|
Share Percent |
0.007% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mazibur Rahman |
|
Share Percent |
0.003% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abul Khair |
|
Share Percent |
0.002% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Rashida Ahmed |
|
Share Percent |
3.25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Sharmin Salam |
|
Share Percent |
3.25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tanvir Ahmed |
|
Share Percent |
3.25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Ms. Shehrin Salam Oishee |
|
Share Percent |
3.25% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Pastel Apparels Limited |
|
Share Percent |
6.2% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Dornick Apparels Limited |
|
Share Percent |
10% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Envoy Towers Limited |
|
Share Percent |
8.75% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Fontina Fashions Limited |
|
Share Percent |
6% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Supreme Apparels Limited |
|
Share Percent |
2.6% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Alpha Start Limited |
|
Share Percent |
5% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
ICB Capital Management Ltd. (Investment A/C.) |
|
Share Percent |
1% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
ICB Capital Management Ltd. (Fund) |
|
Share Percent |
0.95% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Lanka Bangla Finance Limited |
|
Share Percent |
0.4% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Pubali Bank Limited |
|
Share Percent |
1% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Southeast Bank Limited - MBW |
|
Share Percent |
0.58% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Midas Financing Limited |
|
Share Percent |
1% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
LankaBangla Finance Limited - IP Account |
|
Share Percent |
6.9% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Nadia Garments Limited |
|
Share Percent |
2.68% |
|
Country |
Bangladeshi |
|
|
|
|
Name |
Undisclosed |
|
Share Percent |
23.5% |
|
Country |
Bangladeshi |
|
Line of Business |
Manufacturer, Exporter & Seller |
|
Items Dealing In |
Fabrics |
|
Terms of
Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of
Purchase |
Local: Cash or Credit Export: Against L/C |
|
Name |
The Premier Bank Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A, Dhaka |
|
SWIFT |
N/A |
|
Year |
2012 |
2011 |
2010 |
|
Investment |
Tk.35 million |
Tk.30 million |
Tk.27 million |
|
Turnover |
Tk.300 million |
Tk.286 million |
Tk.283 million |
|
Liability |
NIL |
NIL |
NIL |
|
Assets |
Tk.48 million |
Tk.40 million |
Tk.37 million |
Note: Though the subject is a public limited company,
but could not be launch it’s financial yet, so no details financial information
is available.
|
Authorized
Capital |
Tk.275,00,00,000.00 |
|
Paid Up Capital |
Tk.1,000,000,000.00 |
|
Each Share Value |
Tk.10.00 |
|
Currency |
Unit |
Bangladeshi Taka
(BDT) |
|
Great Britain Pound |
1 |
118.8017 |
|
U.S Dollar |
1 |
77.7600 |
|
European Euro |
1 |
102.2077 |
|
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 |
|
Employees |
850 |
|
Office Area (Sq.
Ft) |
3,300 (rented) |
|
Factory Area
(Sq. Ft) |
20 acres of land (own) |
|
Warehouse Area
(Sq. Ft) |
7,600 (own) |
|
Range of
Products |
4 Ring yarns 4 Open-end yarns 4 Slubs 4 Mixed Warps 4 Multi-count yarns 4 Colored wefts |
|
Export Market |
4 Germany 4 Turkey 4 Sri Lanka 4 India |
|
Major Clients |
4 Local Export Oriented Ready-Made Garment Industries |
|
Certifications |
4 ISO 9001: 14001 |
|
Parent Company |
4 Envoy Group |
|
Subsidiaries /
Affiliates |
4 Fountain Water Ltd 4 Platinum Suits (2006) 4 Envoy Design Ltd 4 Envoy Fashions Ltd 4 Manta Apparels Ltd 4 Olio Apparels Ltd 4 Fontina Fashions Ltd 4 Information Technology Consultants Ltd 4 Emerald Trading Ltd 4 Dornick Apparels Ltd 4 Pinata Air International Ltd 4 Peridot International Ltd 4 Pastel Apparels Ltd 4 National System Solutions (Pvt.) Ltd 4 Armour Garments Ltd 4 OIA Global Logistics (BD) Ltd 4 Laundry Industries Ltd 4 Supreme Apparels Ltd 4 Epoch Garments Ltd 4 Regal Garments Ltd 4 Astras Garments Ltd 4 Sheltech (Pvt.) Ltd 4 Nadia Garments Ltd 4 Lunar International Ltd 4 Envoy Garments Ltd |
|
Member |
4 Bangladesh Textile Mills Association, Dhaka 4 Dhaka Chamber of Commerce & Industries, Dhaka |
|
Business Scale |
Large |
|
Business Trend |
Growing |
|
Management Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
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.