|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
BROTHERS FASHION LIMITED |
|
|
|
|
Registered Office : |
29, Karwan Bazar, Dhaka-1215 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
09.05.1985 |
|
|
|
|
Com. Reg. No.: |
C-14155 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Ready-Made Garments |
|
|
|
|
No. of Employees : |
1,049 |
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$ 45,000.00 |
|
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 – 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 |
BROTHERS FASHION LIMITED |
|
Address |
29, Karwan Bazar, Dhaka-1215 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9116752, 8126069 |
|
Fax No |
880-2-8126070 |
|
E-Mail |
|
|
Website |
www.brothersfashionbd.com |
|
Established |
1985 |
|
Company Registration No |
C-14155 |
|
Registration date |
9th May 1985 |
|
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 |
House # 10 (4th & 5th
Floor), Road # 14, Sector-1, Uttara, Dhaka |
|
Telephone No |
880-2-9116752, 8126069 |
|
Fax No |
880-2-8126070 |
|
E-Mail |
|
|
Website |
brothersfashionbd.com |
|
Branch |
NIL |
|
Factory |
29, Karwan Bazar, Dhaka-1215 |
|
Factory Telephone No |
NIL |
|
Factory Fax No |
NIL |
|
Warehouse |
29, Karwan Bazar, Dhaka-1215 |
|
Name |
Mr. Muhammad Nazrul Islam |
|
Designation |
Chairman & Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Kazi Ahmed Sharif |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Anwar Hossain |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ali Rasul |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Muhammad Wahidur Rahman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abdullah Hil Rakib |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Muhammad Nazrul Islam |
|
Share Percent |
12.2% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Kazi Ahmed Sharif |
|
Share Percent |
12.2% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Anwar Hossain |
|
Share Percent |
4.9% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Ali Rasul Tuhin |
|
Share Percent |
4.9% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Muhammad Wahidur Rahman |
|
Share Percent |
2.3% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abdullah Hil Rakib |
|
Share Percent |
63.5% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer and 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 |
5 million pieces per year |
|
Name |
Sonali Bank Limited |
|
Branch |
Local Office Branch |
|
Address |
35-44 Motijheel C/A, Dhaka-1000 |
|
SWIFT |
BSONBDDHALOD |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.38 million |
Tk.36 million |
Tk.36 million |
|
Turnover |
Tk.346 million |
Tk.344.5 million |
Tk.344 million |
|
Liability |
Tk.7 million |
Tk.7.6 million |
Tk.8.1 million |
|
Assets |
Tk.53 million |
Tk.52 million |
Tk.52 million |
|
Authorized
Capital |
Tk.5 million |
|
Paid Up Capital |
Tk.1,025,000.00 |
|
Each Share Value |
Tk.1000.00 |
|
Currency |
Unit |
Bangladeshi Taka
(BDT) |
|
Great Britain Pound |
1 |
121.6633 |
|
U.S Dollar |
1 |
77.7600 |
|
European Euro |
1 |
104.1828 |
|
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$
45,000.00 |
90
days |
|
Employees |
1,049 |
|
Office Area (Sq.
Ft) |
2,200 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
42,000 sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
5,800 sq.ft.(own) |
|
Range of
Products |
4 Trousers (Denim & Non-Denim) 4 Pajama Set 4 Bermuda Jacket 4 Fleece Jacket and Trousers 4 Windbreaker 4 Jogging Set |
|
Export Market |
4 C & A 4 Sprider 4 Dickies 4 Bernardi 4 Chibo (TCM) 4 Okaidi 4 Kaibi 4 Aldi 4 Frima 4 Takko 4 Cia Hering |
|
Fabrics &
Accessories |
4 Hong Kong 4 China 4 Thailand 4 Local Sources 4 Pakistan 4 India |
|
Certifications |
NIL |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
NIL |
|
Member |
4 Bangladesh Garments 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.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
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.