|
Report Date : |
03.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAAD MUSA FABRICS LIMITED |
|
|
|
|
Registered Office : |
Khaja Road, Kulgaon, Jalalabad, Chittagong-4214 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
08.08.1994 |
|
|
|
|
Com. Reg. No.: |
CH-1678 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer &
Exporter of Readymade Garments
|
|
|
|
|
No. of Employees : |
780 |
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 |
Saad Musa
Fabrics Limited |
|
Address |
Khaja Road,
Kulgaon, Jalalabad, Chittagong-4214 |
|
Country |
Bangladesh |
|
Telephone No |
880-31-683951-53 |
|
Fax No |
880-31-683954 |
|
E-Mail |
|
|
Website |
www.saadmusa.com |
|
Established |
1994 |
|
Company Registration No |
CH-1678 |
|
Registration date |
8th August 1994 |
|
Legal Status |
Private
Limited |
|
Issuing Authority |
The Registrar of Joint Stock 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 |
Khaja
Road, Kulgaon, Jalalabad, Chittagong-4214 |
|
Telephone No |
880-31-683951-53 |
|
Fax No |
880-31-683954 |
|
E-Mail |
|
|
Website |
www.saadmusa.com |
|
Branch |
NIL |
|
Factory |
Khaja
Road, Kulgaon, Jalalabad, Chittagong-4214 |
|
Factory Telephone No |
NIL |
|
Factory Fax No |
NIL |
|
Warehouse |
Khaja
Road, Kulgaon, Jalalabad, Chittagong-4214 |
|
Name |
Mr. Mohammad
Mohsin |
|
Designation |
Chairman &
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Rokeya
Begum |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Shamima
Nargis |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Mohammad
Mohsin |
|
Share Percent |
22.3% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Rokeya
Begum |
|
Share Percent |
38.8% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Shamima
Nargis |
|
Share Percent |
38.8% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer & Exporter |
|
Items Dealing In |
Readymade
Garments |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Export: Against L/C |
|
Production
Capacity |
144,000 dozens per year |
|
Last Year
Production |
144,000 dozens |
|
Name |
One Bank Limited |
|
Branch |
Agrabad Branch |
|
Address |
95 Agrabad C/A,
Chittagong |
|
SWIFT |
ONEBBDDH002 |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.38 million |
Tk.36 million |
Tk.36 million |
|
Turnover |
Tk.368 million |
Tk.364.6 million |
Tk.364 million |
|
Liability |
Tk.8 million |
Tk.9.5 million |
Tk.10 million |
|
Assets |
Tk.45 million |
Tk.43 million |
Tk.43 million |
|
Authorized
Capital |
Tk.70 million |
|
Paid Up Capital |
Tk.10,300,000.00 |
|
Each Share Value |
Tk.1000.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
117.6664 |
|
U.S Dollar |
1 |
77.7600 |
|
European Euro |
1 |
100.6214 |
|
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 |
780 |
|
Office Area (Sq.
Ft) |
2,200 (rented) |
|
Factory Area
(Sq. Ft) |
40,000 (rented) |
|
Warehouse Area
(Sq. Ft) |
8,500 (rented) |
|
Range of
Products |
4 Trouser 4 Shorts 4 Overall 4 Shortal 4 Skirt 4 Vest 4 Cargo Shorts 4 Bermuda ¾ &
7/8 Length, 4 Capri ¾ &
7/8 Length 4 Casual Shirt 4 Polo Shirt 4 T-shirt 4 Tank Top
Including Kids Woven item |
|
Export Market |
4 AUCHAN INTERNATIONAL,
FRANCE 4 LA-REDOUTE, FRANCE 4 VERTBAUDET,
FRANCE 4 SANTOSTEFANO
SR, ITALY 4 KIK TEXTILE,
GERMANY 4 OSG. OUTSOURCING,
GERMANY 4 SRG IMPORTERS,
U.K. 4 STYLEWISE UK
LTD, U.K. 4 HEROD, ITALY 4 HYPERIMPEST
KFT., HUNGARY 4 YM INC (SALES),
CANADA 4 FIFTY FIFTY
B.V., HOLLAND 4 EUROGROUP.,
GERMANY 4 TEXPORT –
TEXLINE. , FRANCE. 4 ZEEMAN, NETHERLAND 4 ASH CITY, CANADA & USA 4 GREAT UNION CORP., USA |
|
Certification |
NIL |
|
Group Name |
4 Saad Musa Group |
|
Subsidiaries /
Affiliates |
4 Saadmusa
Fabrics Ltd- Weaving Unit 4 Saadmusa Fabrics
Ltd- Dyeing, Printing & Finishing 4 M.A. Rahaman
dyeing Industries Ltd 4 Saadmusa Fabrics
Ltd- House Hold Textiles 4 Emdad Etima
Spinning Mills Ltd 4 Sajid Cotton Mills
Ltd 4 Chittagong Fibre
Boards Ltd 4 Sultan Habiba
Washing Plant Ltd |
|
Member |
4 Bangladesh Knit
Wears Manufacturers & Exporter Association 4 Chittagong
Chamber of Commerce & Industry, Chittagong |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
|
1 |
Rs.86.01 |
|
Euro |
1 |
Rs.73.68 |
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.