|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SECTION SEVEN LIMITED |
|
|
|
|
Registered Office : |
Plot No.21-26 (Part), Sector-3, Road No.4, Chittagong Export
Processing Zone, Chittagong-4223 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
August, 2004 |
|
|
|
|
Com. Reg. No.: |
C-54090 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer & Exporter of Ready-Made Garments |
|
|
|
|
No. of Employees : |
1,845 |
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 |
Section Seven Limited |
|
Address |
Plot No.21-26 (Part), Sector-3, Road No.4, Chittagong Export Processing
Zone, Chittagong-4223 |
|
Country |
Bangladesh |
|
Telephone No |
880-31-741961,
801242 |
|
Fax No |
880-31-800821 |
|
E-Mail |
info@sectionsevenltd.com |
|
Website |
www.sectionsevenltd.com |
|
Established |
August, 2004 |
|
Commercial Production From |
March, 2006 |
|
Company Registration No |
C-54090 |
|
Registration date |
29th
August, 2004 |
|
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
No.128, Lane No.5, New DOHS, Mohakhali, Dhaka-1206, |
|
Telephone No |
880-2-982453,
9886160, 9885760 |
|
Fax No |
880-2-8829168 |
|
E-Mail |
info@sectionsevenltd.com |
|
Website |
www.sectionsevenltd.com |
|
Branch |
NIL |
|
Factory |
Plot No.21-26 (Part), Sector-3, Road No.4, Chittagong Export Processing
Zone, Chittagong-4223 |
|
Factory Telephone No |
880-31-741961,
801242 |
|
Factory Fax No |
880-31-800821 |
|
Warehouse |
Plot No.21-26 (Part), Sector-3, Road No.4, Chittagong Export Processing
Zone, Chittagong-4223 |
|
Name |
Mr. Shahdat
Mosharraf Khan |
|
Designation |
Chairman &
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Nusrat
Khan |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Shahdat
Mosharraf Khan |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Nusrat
Khan |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
|
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 |
340,000 dozens
per year |
|
Last Year
Production |
340,000 dozens |
|
Name |
Eastern Bank
Limited |
|
Branch |
Agrabad Branch |
|
Address |
Agrabad Commercial Area, Chittagong |
|
SWIFT |
N/A |
|
|
|
|
Name |
IFIC Bank Limited |
|
Branch |
Agrabad Branch |
|
Address |
Agrabad Commercial Area, Chittagong |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.36 million |
Tk.34 million |
Tk.34 million |
|
Turnover |
Tk.335 million |
Tk.333.6 million |
Tk.333 million |
|
Liability |
Tk.7.5 million |
Tk.8 million |
Tk.8.4 million |
|
Assets |
Tk.52 million |
Tk.50 million |
Tk.50 million |
|
Authorized
Capital |
Tk.100 million |
|
Paid Up Capital |
Tk.100,000.00 |
|
Each Share Value |
Tk.100.00 |
|
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 |
1,845 |
|
Office Area (Sq.
Ft) |
3,500 sq.ft (leased) |
|
Factory Area
(Sq. Ft) |
105,225 sq.ft (leased) |
|
Warehouse Area
(Sq. Ft) |
3,500 sq.ft.(leased) |
|
Range of
Products |
4 Shirts 4 Pants 4 Children Wears |
|
Export Market |
4 Sears------------USA 4 MGB Metro Group-USA 4 CMT International-Belgium 4 Target Corporation-USA 4 Yamaki Corporation-Japan |
|
Fabrics &
Accessories |
4 Hong Kong 4 China 4 Thailand 4 Pakistan 4 India 4 Local Sources |
|
Certifications |
NIL |
|
Group Name |
4 Shirt Makers
Group |
|
Subsidiaries /
Affiliates |
4 Section Seven International
Limited 4 Shirt Makers Limited 4 Excel Apparels Limited 4 International Shirt Line Limited 4 Section
Seven Limited |
|
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.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
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.