|
Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
PAXAR BANGLADESH LIMITED |
|
|
|
|
Registered Office : |
Plot No.167-169, DEPZ, Savar, Dhaka-1349 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
12.10.2005 |
|
|
|
|
Com. Reg. No.: |
C-47350 |
|
|
|
|
Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Manufacturer, Seller & Exporter of Garments Accessories |
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|
|
|
No. of Employees : |
519 |
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 |
Paxar Bangladesh Limited |
|
Address |
Plot No.167-169,
DEPZ, Savar, Dhaka-1349 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-7701990 |
|
Fax No |
880-2-7701990 |
|
E-Mail |
|
|
Website |
|
|
Established |
2005 |
|
Company Registration No |
C-47350 |
|
Registration date |
12th October 2005 |
|
Legal Status |
Private Limited |
|
Issuing Authority |
The
Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer,
Seller & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
3/F,
Uday Tower, 57 Gulshan Avenue, Dhaka |
|
Telephone No |
880-2-8832615 |
|
Fax No |
880-2-8832615 |
|
E-Mail |
|
|
Website |
|
|
Branch |
NIL |
|
Factory |
Plot
No.167-169, DEPZ, Savar, Dhaka-1349 |
|
Factory Telephone No |
880-2-7701990 |
|
Factory Fax No |
880-2-7701990 |
|
Warehouse |
Plot No.167-169,
DEPZ, Savar, Dhaka-1349 |
|
Name |
Mr. Pradeep J.
Sugathadasa |
|
Designation |
Chairman &
Managing Director |
|
Nationality |
Sri Lankan |
|
Name |
Avery Dennison
Corporation |
|
Share Percent |
100% |
|
Country |
USA |
|
Line of Business |
Manufacturer,
Seller & 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 |
Standard Chartered
Bank |
|
Branch |
Gulshan Branch |
|
Address |
Gulshan, Dhaka |
|
SWIFT |
N/A |
|
Year |
2011 |
2010 |
2009 |
|
Investment |
Tk.32 million |
Tk.30 million |
Tk.30 million |
|
Turnover |
Tk.336 million |
Tk.334.6 million |
Tk.334 million |
|
Liability |
Tk.10 million |
Tk.11.5 million |
Tk.12 million |
|
Assets |
Tk.40 million |
Tk.38 million |
Tk.38 million |
|
Authorized
Capital |
Tk.100 million |
|
Paid Up Capital |
Tk.5 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
129.3762 |
|
U.S Dollar |
1 |
80.0100 |
|
European Euro |
1 |
105.4772 |
|
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 |
519 |
|
Office Area (Sq.
Ft) |
2,200 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
50,000 sq.ft (leased) |
|
Warehouse Area
(Sq. Ft) |
6,000 sq.ft (leased) |
|
Range of
Products |
4 Variable data Tickets & Labels 4 Brand Promotion & Merchandising Tags 4 Fabric Labels & Collections 4 Brand Promotion & Security 4 Printers & Related Accessories 4 Monarch Brand Bar Code & RFID Products 4 Handheld
Labels, Tags & Attachers |
|
Raw Materials
From |
4 China 4 Singapore 4 Taiwan 4 Hong
Kong |
|
Certifications |
NIL |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
4 Avery Dennsion Bangladesh Limited |
|
Member |
4 Bangladesh Garments Manufacturer & 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.55.62 |
|
UK Pound |
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.96 |
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.