|
Report Date : |
03.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
Cosmo Synthetic Ind. Limited |
|
|
|
|
Registered Office : |
66 Dhaladia, Rajendrapur, Sreepur, Gazipur |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
13.06.2007 |
|
|
|
|
Com. Reg. No.: |
C-73237 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Garments Accessories. |
|
|
|
|
No. of Employees : |
610 |
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 – 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 |
Cosmo Synthetic Ind. Limited |
|
Address |
66, Dhaladia, Rajendrapur, Sreepur, Gazipur |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8920402, 01678646900-19 |
|
Fax No |
880-2-8920720 |
|
E-Mail |
|
|
Website |
|
|
Established |
2007 |
|
Company Registration No |
C-73237 |
|
Registration date |
13th
June 2007 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The Registrar of joint Stock Companies, Dhaka |
|
Business Type |
Manufacturer & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local suppliers
or banks. |
|
Head Office |
House # 02(4th Floor), Road # 13/B Sector # 10, Uttara
Model Town, Dhaka-1230 |
|
Telephone No |
880-2-8920402 |
|
Fax No |
880-2-8920720 |
|
E-Mail |
|
|
Website |
|
|
Sales Office |
NIL |
|
Factory |
66,
Dhaladia, Rajendrapur, Sreepur, Gazipur |
|
Factory Telephone No |
880-1678646900-19 |
|
Factory Fax No |
NIL |
|
Warehouse |
66, Dhaladia, Rajendrapur,
Sreepur, Gazipur |
|
Name |
Mr. Zahid Uddin
Haider |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Jahir Uddin
Haider |
|
Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Zahid Uddin
Haider |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Jahir Uddin
Haider |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer & Exporter |
|
Items Dealing In |
Garments
Accessories |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Export: Against L/C |
|
Name |
AB Bank Limited |
|
Branch |
Uttara Branch |
|
Address |
Uttara, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.32 million |
Tk.30 million |
Tk.30 million |
|
Turnover |
Tk.288 million |
Tk.286.5 million |
Tk.286 million |
|
Liability |
Tk.5 million |
Tk.6.5 million |
Tk.7 million |
|
Assets |
Tk.38 million |
Tk.36 million |
Tk.36 million |
|
Authorized
Capital |
Tk.10 million |
|
Paid Up Capital |
Tk.2 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
120.8148 |
|
U.S Dollar |
1 |
77.9400 |
|
European Euro |
1 |
102.1014 |
|
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 |
610 |
|
Office Area (Sq.
Ft) |
2,100 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
40,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
4,600 sq.ft.(rented) |
|
Range of
Products |
4 BOPP
Gumtape (Printed/Non Printed) 4 Both
Side Tape 4 Corrugate
Carton Box 4 Printed
Sticker Paper 4 Adhesive
Paper 4 Inner
Carton 4 Photo
Card 4 Art
Card 4 Ribbon 4 Duplex
Board |
|
Export Market |
4 USA 4 Europe 4 India |
|
Certification |
NIL |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
NIL |
|
Member |
4 Dhaka
Chamber of Commerce & Industries, Dhaka 4 Bangladesh
Garments Accessories & Packaging Manufacturers & Exporters Association |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.28 |
|
|
1 |
Rs.84.23 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.