|
Report Date : |
06.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SQUARE YARNS LIMITED |
|
|
|
|
Registered Office : |
Square Centre, 48 Mohakhali Commercial Area, Dhaka-1212 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
2006 |
|
|
|
|
Com. Reg. No.: |
C-59162 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer & Seller of Yarns |
|
|
|
|
No. of Employees : |
680 |
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 |
SQUARE YARNS LIMITED |
|
Address |
Square
Centre, 48 Mohakhali
Commercial Area, Dhaka-1212 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8833047-56,
8859007 |
|
Fax No |
88-02-8834941,
8828768, 8828609 |
|
E-Mail |
textiles@squaregroup.com |
|
Website |
www.squaregroup.com |
|
Established |
2006 |
|
Company Registration No |
C-59162 |
|
Registration date |
5th March 2007 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Register of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer & Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
|
Corporate Headquarter |
Square
Centre, 48 Mohakhali Commercial Area, Dhaka-1212 |
|
Telephone No |
880-2-8833047-56,
8859007 |
|
Fax No |
88-02-8834941,
8828768, 8828609 |
|
E-Mail |
textiles@squaregroup.com |
|
Website |
www.squaregroup.com |
|
Head Office |
Mascot Plaza
(11-12th Floor), Plot-107/A, Sector-7,Uttara Dhaka-1230 Tel No:
880-2-8963227, 8963547,8951101-7 Fax No:
880-2-8952652 |
|
Factory |
Saradaganj,
Kashimpur, Gazipur |
|
Factory Telephone No |
880-2-7701232, 7788257-8 |
|
Factory Fax No |
880-2-7701231 |
|
Warehouse |
Saradaganj,
Kashimpur, Gazipur |
|
Name |
Mr. Samuel S.
Chowdhury |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tapan
Chowdhury |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Anjan
Chowdhury |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Samuel S.
Chowdhury |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Tapan
Chowdhury |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Anjan
Chowdhury |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer & Seller |
|
Items Dealing In |
Yarns |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
|
Name |
Standard
Chartered Bank |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan Avenue, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Janata Bank
Limited |
|
Branch |
Dilkusha Branch |
|
Address |
Dilkusha Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
Year |
As At 31 March 2012 |
|
Investment |
Tk.83 million |
|
Turnover |
Tk.472.4 million |
|
Liability |
Tk.8.9 million |
|
Assets |
Tk.113 million |
|
Authorized
Capital |
Tk.100 million |
|
Paid Up Capital |
Tk.200,000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
119.5051 |
|
U.S Dollar |
1 |
78.8500 |
|
European Euro |
1 |
103.5931 |
|
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 |
680 |
|
Office Area (Sq.
Ft) |
3,500 sq.ft (own) |
|
Factory Area (Sq.
Ft) |
40,000 sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
5,200 sq.ft.(own) |
|
Range of
Products |
4 Cotton Yarns |
|
Major
Clients |
4 Local Export Oriented Ready-Made Garment
Industries |
|
Certifications |
NIL |
|
Group Name |
4 Square Group |
|
Subsidiaries /
Affiliates |
4 Square
Pharmaceuticals Limited 4 Square Spinning
Limited 4 Square
Cephalosporin Limited 4 Square Biotechs
Limited 4 Square Textiles
Limited 4 Square Knit
Fabrics Limited 4 Square Fashions
Limited 4 Square
Hospitals Limited 4 Square
Toiletries Limited 4 Square Consumer
Products Limited 4 Square
Informatix Limited 4 Square Agro
Development & Processing Limited 4 Square Herbal
& Nutraceuticals Limited |
|
Member |
4 Bangladesh
Textile Mills 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.54.65 |
|
UK Pound |
1 |
Rs.82.65 |
|
Euro |
1 |
Rs.71.20 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.