|
Report Date : |
04.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASWAD COMPOSITE MILLS LIMITED |
|
|
|
|
Registered Office : |
House No.2/B, Road No.29, Gulshan-1,
Dhaka-1212 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
March 2006 |
|
|
|
|
Com. Reg. No.: |
C-66849 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Ready-Made Garments |
|
|
|
|
No. of Employees : |
1,300 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
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 |
Aswad Composite Mills Limited |
|
Address |
House No.2/B, Road No.29, Gulshan-1, Dhaka-1212 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8852646, 8852696,
8911984, 8824422 |
|
Fax No |
880-2-8850330,
8852748 |
|
E-Mail |
|
|
Website |
|
|
Established |
March 2006 |
|
Commercial Production From |
December 2007 |
|
Company Registration No |
C-66849 |
|
Registration date |
27th
March 2006 |
|
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.2/B, Road No.29, Gulshan-1, Dhaka-1212 |
|
Telephone No |
880-2-8852646,
8852696, 8911984, 8824422 |
|
Fax No |
880-2-8850330,
8852748 |
|
E-Mail |
info@palmalgarments.com |
|
Website |
www.palmalgarments.com |
|
Branch |
NIL |
|
Factory |
Beraiderchala,
Mauna,S reepur, Gazipur |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Beraiderchala,
Mauna, Sreepur, Gazipur |
|
Name |
Mrs. Meherunnesa
Haque |
|
Designation |
Chairperson |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Nafis
Sikhder |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
Name |
Mrs. Meherunnesa
Haque |
|
Share Percent |
20% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Nafis
Sikhder |
|
Share Percent |
80% |
|
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 |
2.5 million dozens
per year |
|
Last Year
Production |
2.5 million
dozens |
|
Name |
Standard
Chattered Bank |
|
Branch |
Dilkusha Branch |
|
Address |
Dilkusha Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Janata Bank
Limited |
|
Branch |
Dilkusha Branch |
|
Address |
Dilkusha Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.50 million |
Tk.47 million |
Tk.47 million |
|
Turnover |
Tk.320 million |
Tk.317.7 million |
Tk.317 million |
|
Liability |
Tk.9 million |
Tk.11 million |
Tk.12 million |
|
Assets |
Tk.66 million |
Tk.66 million |
Tk.66 million |
|
Authorized
Capital |
Tk.20 million |
|
Paid Up Capital |
Tk.130,000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
131.4514 |
|
U.S Dollar |
1 |
81.5000 |
|
European Euro |
1 |
105.0290 |
|
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 |
1,300 |
|
Office Area (Sq.
Ft) |
1,800 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
50,000 sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
5,500 sq.ft.(own) |
|
Range of
Products |
4 All type of Composite & Knit
Items |
|
Export Market |
4 Wal-Mart------USA 4 K-Mart--------USA 4 J.C. Penny----USA 4 Lee & Fung---USA |
|
Fabrics &
Accessories |
4 Hong Kong 4 China 4 Thailand 4 Local Sources 4 Pakistan |
|
Certifications |
NIL |
|
Group Name |
4 Palmal Group of Industries |
|
Subsidiaries /
Affiliates |
4 Palmal Garments Limited 4 Amazan Garments Limited 4 Designer Line (Pvt.) Limited 4 Palmal Styles Limited 4 Palmal Knitwear Factory Limited 4 Nafa Apparels Limited 4 Ayesha Clothing Co., Limited 4 N.K.K. Knitwear Limited 4 Palmal Garments Hosiery
Limited 4 MK
Importer & Supplier Limited |
|
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.54.48 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.71.27 |
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.