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Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNION LABEL & ACCESSORIES LIMITED |
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|
|
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Registered Office : |
417/418, Tejgaon 1/A, Dhaka-1208 |
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Country : |
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Date of Incorporation : |
14.04.2002 |
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Com. Reg. No.: |
C-34827 |
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|
|
Legal Form : |
Private Limited |
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|
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Line of Business : |
Manufacturer & Exporter of Garments
Accessories |
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|
No. of Employees : |
512 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – 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 |
Union Label & Accessories Limited |
|
Address |
417/418, Tejgaon 1/A, Dhaka-1208 |
|
Country |
Bangladesh |
|
Telephone No |
880-2- 8891311,
8891315 |
|
Fax No |
880-2- 8891316 |
|
E-Mail |
info@uniongroupbd.com |
|
Website |
www.uniongroupbd.com
|
|
Established |
2002 |
|
Company Registration No |
C-34827 |
|
Registration date |
14th April
2002 |
|
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 # Kha-44 (1st Floor), Shahajadpur, Gulshan,
Dhaka-1212 |
|
Telephone No |
880-2-8825869,
8834505, 8835205, 9886259, 9886223 |
|
Fax No |
880-2-8810770 , 8825658 |
|
E-Mail |
info@uniongroupbd.com |
|
Website |
www.uniongroupbd.com |
|
Sales Office |
NIL |
|
Factory |
417/418,
Tejgaon 1/A, Dhaka-1208 |
|
Factory Telephone No |
880-2- 8891311,
8891315 |
|
Factory Fax No |
880-2- 8891316 |
|
Warehouse |
417/418, Tejgaon
1/A, Dhaka-1208 |
|
Name |
Mr. Jahangir
Hossain Mollah |
|
Designation |
Chairman & Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Monir
Hossain Mollah |
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Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Jahangir
Hossain Mollah |
|
Share Percent |
60% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Monir
Hossain Mollah |
|
Share Percent |
40% |
|
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 |
Southeast Bank
Limited |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.33 million |
Tk.32 million |
Tk.32 million |
|
Turnover |
Tk.288.9 million |
Tk.287.5 million |
Tk.287 million |
|
Liability |
Tk.4 million |
Tk.5.6 million |
Tk.6 million |
|
Assets |
Tk.38 million |
Tk.36 million |
Tk.36 million |
|
Authorized
Capital |
Tk.5 million |
|
Paid Up Capital |
Tk.1 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 |
512 |
|
Office Area (Sq.
Ft) |
1,900 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
40,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
4,800 sq.ft.(rented) |
|
Range of
Products |
4 Woven Label 4 Poly Bag 4 Cartoon Box 4 Backboard 4 Collar Insert 4 Butter Fly 4 Paper Interlining |
|
Export Market |
4 USA 4 Europe |
|
Certification |
NIL |
|
Group Name |
4 Union Group |
|
Subsidiaries /
Affiliates |
4 Union Label's (Pvt.) Limited 4 Union Label & Accessories Limited 4 ZDD Industries Limited 4 A To Z Printer's Limited 4 A To Z Accessories |
|
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.53.95 |
|
|
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.