MIRA INFORM REPORT
|
Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
CRESCENT FASHION & DESIGN LIMITED |
|
|
|
|
Registered Office : |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur-1346 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
28.09.2003 |
|
|
|
|
Com. Reg. No.: |
C-50610 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer & Exporter of Ready-made
Garments |
|
|
|
|
No. of Employees : |
1,414 |
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 |
COMPANY DETAILS
|
Name |
CRESCENT FASHION & DESIGN LIMITED |
|
Address |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur-1346 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8618220 |
|
Fax No |
880-2-8613297 |
|
E-Mail |
|
|
Website |
www.crescentfashions.com |
|
Established |
2003 |
|
Commercial
Production From |
2005 |
|
Company Registration No |
C-50610 |
|
Registration date |
28th September 2003
|
|
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. |
LOCATIONS
|
Head Office |
17 Dhanmondi R/A, Road No. 2, Dhaka-1205 |
|
Telephone No |
880-2-8618220 |
|
Fax No |
880-2-8613297 |
|
E-Mail |
|
|
Website |
www.crescentfashions.com |
|
Branch |
NIL |
|
Factory |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur-1346, Bangladesh |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur-1346, Bangladesh |
DIRECTORS
|
Name |
Mr. A S F Rahman |
|
Designation |
Chairman & Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Salman F Rahman |
|
Designation |
Director
|
|
Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Mr. A S F Rahman |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Salman F Rahman |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
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 |
BANKERS
|
Name |
Sonali Bank Limited |
|
Branch |
Dhanmodi Branch |
|
Address |
Dhanmondi, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Janata Bank Limited |
|
Branch |
Rupganj Branch |
|
Address |
Rupganj, Narayanganj |
|
SWIFT |
N/A |
|
|
|
|
Name |
The City Bank Limited |
|
Branch |
Dhanmodi Branch |
|
Address |
Dhanmondi, Dhaka |
|
SWIFT |
N/A |
FINANCIAL INFORMATION
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.48 million |
Tk.45 million |
Tk.45 million |
|
Turnover |
Tk.435 million |
Tk.432.7 million |
Tk.432 million |
|
Liability |
Tk.7 million |
Tk.8.5 million |
Tk.9 million |
|
Assets |
Tk.60 million |
Tk.58 million |
Tk.58 million |
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.200 million |
|
Paid Up Capital |
Tk.100 million |
|
Each Share Value |
Tk.100.00 |
CURRENCY EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka
(BDT) |
|
Great Britain Pound |
1 |
117.9137 |
|
U.S Dollar |
1 |
77.8000 |
|
European Euro |
1 |
100.4165 |
ADVERSE DATA MONITORING
|
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 |
GENERAL INFORMATION
|
Employees |
1,414 |
|
Office Area (Sq.
Ft) |
3,500 sq,ft (own) |
|
Factory Area
(Sq. Ft) |
40,000 sq.ft (own) |
|
Warehouse Area
(Sq. Ft) |
6,500 sq.ft.(own) |
|
Range of
Products |
4 All Types of
Woven Garments (Tops & Bottoms) |
|
Export Market |
4 USA 4 Canada 4 Europe |
|
Certifications |
NIL |
|
Group Name |
4 Beximco Group |
|
Subsidiaries /
Affiliates |
4 Beximco
Pharmaceuticals Ltd 4 Bangladesh
Antibiotics Industries Ltd. 4 Pharmatek
Chemicals Ltd. 4 Bextex Ltd. 4 Beximco
Fashions Ltd. 4 Beximco
Apparels Ltd. 4 International
Knitwear & Apparels Ltd. 4 New Dacca
Industries Ltd. 4 Essess Fashions
Ltd. 4 Bangladesh
Export Import Co Ltd. 4 Beximco
Engineering Ltd. 4 Beximco
Property Development & Management Ltd. 4 Shinepukur
Ceramics Ltd. 4 Bangladesh
Online 4 Beximco
Computers Ltd. 4 Beximco Media
Ltd. 4 Beximco
Synthetics Ltd. 4 GMG Airlines
Ltd. 4 Beximco
Petroleum Ltd. 4 Beximco
Holdings Ltd. 4 Beximco
Securities Ltd. 4 Sonali Ansh
Ltd. 4 Bextrade Ltd. |
|
Member |
4 Dhaka Chamber of Commerce & Industries, Dhaka 4 Bangladesh Garments Manufacturers & Exporters Association |
BUSINESS TREND & PROSPECT
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.