|
Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
GH HAEWAE CO., LIMITED |
|
|
|
|
Registered Office : |
Plot No: 19-24, Sector – 8, EPZ, Chittagong – 4223 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
21.02.2004 |
|
|
|
|
Com. Reg. No.: |
2C-15681 |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturer & Exporter of Ready Made Garments |
|
|
|
|
No. of Employees : |
2,500 |
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 |
GH Haewae Co., Limited |
|
Address |
Plot No: 19-24,
Sector – 8, EPZ, Chittagong – 4223 |
|
Country |
Bangladesh |
|
Telephone No |
880-31-800153-156
Ext.- 412, 413 |
|
Fax No |
880-31-800157 |
|
E-Mail |
|
|
Website |
www.ghhaewae.net |
|
Established |
2004 |
|
Company Registration No |
2C-15681 |
|
Registration date |
21st February 2004
|
|
Legal Status |
Private Limited |
|
Issuing Authority |
The
Registrar of Joint Stock Companies & Firms, Chittagong |
|
Business Type |
Manufacturer
& Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
4th
Floor, Singook Building, 883-24, Bangbae-dong, Seocho-gu, Korea |
|
Telephone No |
82 2 3415 5500 |
|
Fax No |
82 2 521 9090 |
|
E-Mail |
|
|
Website |
www.ghhaewae.net |
|
Branch |
Room # 2402, Bonham Strand Trade Centre. 135 Bonham Strand. Sheugh Wan, Hong Kong. E-mail: golden18@netvigator.com Tel: 852-28518761, Cell # 852-60193880 221 Lakeshore RD. E., Suite 300, Oakville on Canada L6J 1H7 E-mail: ykiki@ghhaewae.com Tel: 1-905-328-4624, 1-877-641-1530 Fax # 1-866-503-2677 |
|
Factory |
Plot
No: 19-24, Sector – 8, EPZ, Chittagong – 4223 |
|
Factory Telephone No |
880-31-800153-156
Ext.- 412, 413 |
|
Factory Fax No |
880-31-800157 |
|
Warehouse |
Plot No: 19-24,
Sector – 8, EPZ, Chittagong – 4223 |
|
Name |
Mr. Myong Sik
Jhon |
|
Designation |
Chairman |
|
Nationality |
Korean |
|
|
|
|
Name |
Mr. Y.K. Kim |
|
Designation |
Managing
Director |
|
Nationality |
Korean |
|
Name |
Haewae Apparel Inc |
|
Share Percent |
100% |
|
Country |
Korea |
|
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 |
The Hong Kong & Shanghai Banking Corporation Limited (HSBC) |
|
Branch |
Agrabad Branch |
|
Address |
70, Agrabad Commercial Area, Chittagong-4100 |
|
SWIFT |
HSBCBDDH |
|
|
|
|
Name |
Bank Asia Limited |
|
Branch |
CEPZ Branch |
|
Address |
Zone Services Complex, CEPZ, Chittagong, |
|
SWIFT |
BALBBDDHOBU |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.42 million |
Tk.40 million |
Tk.40 million |
|
Turnover |
Tk.414 million |
Tk.412.6 million |
Tk.412 million |
|
Liability |
Tk.6 million |
Tk.7.4 million |
Tk.8 million |
|
Assets |
Tk.60 million |
Tk.58 million |
Tk.58 million |
|
Authorized
Capital |
Tk.30 million |
|
Paid Up Capital |
Tk.3 million |
|
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 |
2,500 |
|
Office Area (Sq.
Ft) |
2,300 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
120,000 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
10,500 sq.ft.(rented) |
|
Range of
Products |
4 T-Shirts 4 Polo-Shirt 4 Shorts 4 Jackets 4 Casual
Wear 4 Formal
Wear |
|
Export
Market |
4 Reebok
& Adidas Group, 4 5.11
INC, Europe / Canada 4 Columbia
Sportswear, USA 4 Tema
Magazacilik, Turkey 4 Ash
City, USA / Canada 4 Kellwood,
USA / Canada 4 Pacific
Trail, USA / Canada 4 London
Fog, USA / Canada 4 Northern
Sportswear, USA / Canada 4 Sports
International, USA / Canada 4 SOS,
USA / Canada |
|
Fabrics &
Accessories |
4 Hong
Kong 4 China 4 Local
Sources 4 India 4 Korea |
|
Certifications |
NIL |
|
Group Name |
4 GH Haewae Group |
|
Subsidiaries /
Affiliates |
4 Haewae Apparel Inc., Korea 4 Gain Global Ltd., Hong Kong |
|
Member |
4 Bangladesh
Garments Manufacturers & Exporters Association 4 Chittagong
Chamber of Commerce & Industries, Chittagong |
|
Business Scale |
Fairly Large |
|
|
Business Trend |
Growing |
|
|
Management
Capability |
Good |
|
|
Reputation |
Good |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.62 |
|
|
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.96 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.