|
Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
NIAGARA TEXTILES LIMITED |
|
|
|
|
Registered Office : |
27, Bijoy Nagar, Suite No C-1 (1st Floor), Dhaka-1000 |
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|
|
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Country : |
Bangladesh |
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|
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Date of Incorporation : |
16.04.1980 |
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|
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Com. Reg. No.: |
C-41635 |
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|
|
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Legal Form : |
Private Limited
Company |
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|
|
|
Line of Business : |
Manufacturer & Exporter of Ready-made
Garments |
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|
|
No. of Employees : |
4600 |
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 |
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|
|
Payment Behaviour : |
Usually Correct |
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|
|
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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 |
Niagara Textiles Limited |
|
Address |
27,
Bijoy Nagar, Suite No C-1 (1st Floor), Dhaka-1000 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9347303, 9341370,
9339903, 9345807, 9352328, 9340945 |
|
Fax No |
880-2- 9353480, 8363061 |
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E-Mail |
|
|
Website |
|
|
Established |
1980 |
|
Company Registration No |
C-41635 |
|
Registration date |
16th
April 1980 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturing
& Exporting |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
|
Head Office |
27,
Bijoy Nagar, Suite No C-1 (1st Floor), Dhaka-1000 |
|
Telephone No |
880-2-9347303, 9341370,
9339903, 9345807, 9352328, 9340945 |
|
Fax No |
880-2- 9353480, 8363061 |
|
E-Mail |
|
|
Website |
|
|
Branch |
73
Kingsland Road, London E2 8AG Tel:
+44(0) 20 7729 0312 |
|
Factory |
Chandra Circle , Kaliakair, Gazipur , Bangladesh |
|
Factory Telephone No |
88-0-6822-51233-4 |
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Factory Fax No |
88-0-6822-51231 |
|
Warehouse |
Chandra Circle , Kaliakair, Gazipur , Bangladesh |
|
Name |
Mr. Nurul Hasan |
|
Designation |
Chairman & Managing Director |
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Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mirza
Ishtiaq Ahmed |
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Designation |
Director |
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Nationality |
Bangladeshi |
|
Name |
Mr. Nurul Hasan |
|
Share Percent |
60% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mirza
Ishtiaq Ahmed |
|
Share Percent |
40% |
|
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 |
TEXTILE DIVISION 70, 00,000 Kg fabric per year GARMENTS DIVISION 140, 00,000 pieces per year (based on basic items) |
|
Last Year
Production |
TEXTILE DIVISION 70, 00,000 Kg fabric GARMENTS DIVISION 140, 00,000 pieces (based on basic items) |
|
Name |
Islami Bank
(Bangladesh) Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Bank Al-Falah
Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel Commercial Area, Dhaka |
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SWIFT |
N/A |
|
|
|
|
Name |
Shahjalal Islami
Bank Limited |
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Branch |
Bijoy Nagar Branch |
|
Address |
Bijoy Nagar, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.52 million |
Tk.50 million |
Tk.50 million |
|
Turnover |
Tk.554 million |
Tk.552.6 million |
Tk.552 million |
|
Liability |
Tk.8 million |
Tk.9.6 million |
Tk.10 million |
|
Assets |
Tk.90 million |
Tk.88 million |
Tk.88 million |
|
Authorized
Capital |
Tk.35 million |
|
Paid Up Capital |
Tk.350,000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
117.3409 |
|
U.S Dollar |
1 |
78.7100 |
|
European Euro |
1 |
102.6221 |
|
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 |
4,600 |
|
Office Area (Sq.
Ft) |
5,000 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
2, 08,500 sq.ft
(own) |
|
Warehouse Area
(Sq. Ft) |
40,000 sq.ft.(own) |
|
Range of
Products |
TEXTILE DIVISION
4 Single/ Double Lacoste 4 Pique 4 Wafle 4 Fleece 4 Terry 4 Interlock 4 Interlock Pique 4 Pleated Jersey 4 Mesh Fabric 4 Rib with or without Spandex 4 All kinds of knitted tops and bottom |
|
Export Market |
4 Tesco 4 C
& A 4 BHS 4 Woolworth 4 DCC 4 H
& M 4 Newlook 4 Techibo 4 H&M 4 New Look 4 Big Star 4 Target 4 Loblaws 4 Sears 4 Okaidi 4 Lazy Jacks 4 Techibo |
|
Fabrics &
Accessories |
4 Hong Kong 4 China 4 Singapore 4 Thailand
4 Pakistan
|
|
Award |
4 Bangladesh Knitwear Manufactures & Exporters Association (BKMEA) Award 4 Naari Uddug Kendra (NUK) Award |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
NIL |
|
Member |
4 Dhaka
Chamber of Commerce & Industries, Dhaka 4 Bangladesh Knitwear
Manufactures & Exporters Association (BKMEA), Dhaka 4 Industrial and
Business Welfare Foundation (IBWF) |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.