|
Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SELINA APPARELS LIMITED |
|
|
|
|
Registered Office : |
House No.4, Road No.32, Sector-7, Uttara, Dhaka |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
02.09.2005 |
|
|
|
|
Com. Reg. No.: |
C-61274 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
Manufacturer & Exporter of Ready Made Garments |
|
|
|
|
No. of Employees : |
500 |
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 |
Selina Apparels
Limited |
|
Address |
Selina Tower (1st & 2nd Floor), Holan Road,
Islam Bag, Dhakhinkhan, Uttara, Dhaka-1230 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8924022,
8953510, 8911475, 8950493 |
|
Fax No |
880-2-8915200 |
|
E-Mail |
|
|
Website |
|
|
Established |
2005 |
|
Company Registration No |
C-61274 |
|
Registration date |
2nd September 2005
|
|
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. |
|
Head Office |
House
No.4, Road No.32, Sector-7, Uttara, Dhaka-1230 |
|
Telephone No |
880-2-8924022,
8953510, 8911475, 8950493 |
|
Fax No |
880-2-8915200 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
Selina Tower (1st & 2nd
Floor), Holan Road, Islam Bag, Dhakhinkhan, Uttara, Dhaka-1230 |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Selina Tower (1st & 2nd Floor), Holan Road,
Islam Bag, Dhakhinkhan, Uttara, Dhaka-1230 |
|
Name |
Mr. Mohammad
Khosru Chowdhury |
|
Designation |
Chairman & Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Popi
Chowdhury |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Selina
Chowdhury |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Mohammad
Khosru Chowdhury |
|
Share Percent |
40% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Popi
Chowdhury |
|
Share Percent |
30% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Selina
Chowdhury |
|
Share Percent |
230% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer
& Exporter |
|
Items Dealing In |
Ready Made
Garments |
|
Terms of Purchase |
Import: Against L/C Local: Cash or Credit |
|
Terms of Sale |
Export: Against L/C |
|
Name |
NCC Bank Limited |
|
Branch |
Malibagh Branch |
|
Address |
B-61, Malibagh Chowdhury Para,
Dhaka-1219 |
|
SWIFT |
NCCLBDDHMBB |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.35 million |
Tk.35 million |
Tk.33 million |
|
Turnover |
Tk.337.7 million |
Tk.337 million |
Tk.335 million |
|
Liability |
Tk.7.6 million |
Tk.8 million |
Tk.10 million |
|
Assets |
Tk.46 million |
Tk.46 million |
Tk.44 million |
|
Authorized
Capital |
Tk.50 million |
|
Paid Up Capital |
Tk.100, 000.00 |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
117.6576 |
|
U.S Dollar |
1 |
77.7850 |
|
European Euro |
1 |
100.5916 |
|
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 |
500 |
|
Office Area (Sq.
Ft) |
2,200 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
35,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
7,500 sq.ft.(rented) |
|
Range of
Products |
4 Dress
Pants 4 Dress
Tops 4 Bottoms |
|
Export
Market |
4 EU
Countries 4 USA |
|
Fabrics &
Accessories |
4 Hong
Kong 4 China 4 Local
Sources 4 India 4 Korea |
|
Certifications |
NIL |
|
Group Name |
4 Nipa Group |
|
Subsidiaries /
Affiliates |
4 Nipa Fashion Wear Company Limited 4 Nipa Fashion Wear Industry Limited 4 Nipa Trading 4 The Cold Sweater Industries Limited 4 Nice Dresses
Private Limited 4 Raisa Embroidery 4 Nipa Zipper Industries Limited 4 Salina Garments Industries Limited |
|
Member |
4 Bangladesh
Garments Manufacturers & Exporters 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.55.61 |
|
UK Pound |
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
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.