MIRA
INFORM REPORT
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Report Date : |
11.11.2013 |
IDENTIFICATION DETAILS
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Name : |
CLASSIC MANUFACTURING CO. LTD. |
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Registered Office : |
House# 02, Road# 13/B, Sector# 10, Uttara,
Dhaka-1230 |
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Country : |
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Financials (as on) : |
2012 |
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Date of Incorporation : |
03.09.2008 |
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Com. Reg. No.: |
C-72877 |
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Legal Form : |
Private
Co |
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Line of Business : |
Manufacturer of Label,
Poly Bag, Sewing Thread, Offset Printing,
OPP Gum Tap, Ribbon & Tape Heat Transfer Label, Stone & Metal Motive |
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No. of Employees : |
110 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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
IDENTIFICATION
DETAILS
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Correct company
Name |
: |
Classic
Manufacturing Co. Ltd. |
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Head Office |
: |
House# 02, Road# 13/B, Sector# 10, Uttara,
Dhaka-1230, Bangladesh. |
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Tel No |
: |
88-02-8981850-2 |
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Fax No |
: |
88-02-8981085 |
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E-mail |
: |
pannu@classicmfgbd.com hasan.classic_mfg@yahoo.com |
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Website |
: |
www.classicmfgbd.com |
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Date/ Year
of Incorporation |
: |
03.09.2008 |
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Incorporation No. |
: |
C-72877 |
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Legal Form
(General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole Proprietorships Partnership Not Registered others (please specify) ________________ |
|
Legal form
(Specific) |
: |
LTD
CORP
INC CO
others (please specify) ________________ |
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Issuing
Authority |
: |
Registrar of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
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Year |
Turnover/ Sales |
Assets |
Income |
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2011 |
Tk.55Million |
Tk.25 Million |
Tk. 1.55 Million |
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2012 |
Tk.35 Million |
Tk.25.5 Million |
Tk.1.80Milliom |
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Exchange Rate |
USD1-Tk. 77.8200 EUR 1- Tk. 100.2711 GBP 1- Tk.118.5354 AUD 1 - Tk.82.8563 JPY 1 - Tk.0.9286 |
CAD 1 - Tk.80.1887 SEK 1 - Tk.12.2870 SGD 1 - Tk.65.3045 CNH 1 - Tk.12.8399 |
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Sales Trend – Analysis: |
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2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
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- |
- |
- |
- |
- |
- |
- |
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FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Md. Hasan Ali |
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Designation |
: |
Manager (Marketing) |
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Contract No |
: |
01823295408, 01714058430 |
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Locations Details |
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Business
Address |
: |
House# 02, Road# 13/B, Sector# 10, Uttara,
Dhaka-1230, Bangladesh. |
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Tel No |
: |
88-02-8981850-2 |
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Fax No |
: |
88-02-8981085 |
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E-mail |
: |
pannu@classicmfgbd.com hasan.classic_mfg@yahoo.com |
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Website |
: |
www.classicmfgbd.com |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
3500 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
Ö |
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Semi-commercial office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory: |
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Address |
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Plot No# 886,
Kathgora, Zirabo, Savar, Dhaka-1341, Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
35000 |
Sq. ft. |
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Branches: |
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Address |
: |
N/A |
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Tel No |
: |
N/A |
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Fax No |
: |
N/A |
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Location : |
Owned |
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Rented |
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Leased |
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Area |
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Sq. ft. |
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Employee: |
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No. of Employees
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In Office |
: |
25 |
In Factory |
: |
85 |
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In Branch: |
: |
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Total |
: |
110 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of
Shareholders |
No.
of Share |
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Mr. Md. Hafizur Rahman Pannu |
52500 |
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Mrs. Milima Rahman |
52500 |
DIRECTORS
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Name |
Designation |
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Mr. Md. Hafizur Rahman Pannu |
Chairman &
Managing Director |
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Mrs. Milima Rahman |
Director |
MANAGEMENT
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Name |
: |
Mr. Md. Hasan Ali |
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Job
Description |
: |
Manager (Marketing) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
hasan.classic_mfg@yahoo.com |
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Other
details |
: |
88-01823295408, 01714058430 |
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Name |
: |
N/A |
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Job
Description |
: |
N/A |
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Nationality |
: |
N/A |
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Email
address |
: |
N/A |
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Other
details |
: |
N/A |
BUSINESS OPERATIONS
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Nature of Activity
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Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
Ö |
Services |
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Others |
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Item Dealings In: |
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Products |
: |
Label, Poly Bag,
Sewing Thread, Offset Printing, OPP Gum Tap,
Ribbon & Tape Heat Transfer Label, Stone & Metal
Motive, Etc. |
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Production Capacity |
: |
N/A |
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Last Year Production |
: |
N/A |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms
: |
L/C |
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Cash |
Ö |
Others |
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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|
days |
DETAILED DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local Garments |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
China, India, Germany. |
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Brand Name |
: |
Nil |
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Certified |
: |
Nil |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk. 30 Million |
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Paid-up Capital |
: |
Tk.1,05,00,000 |
No. of Shares |
: |
105000 |
Share Value |
: |
Tk.100.00Each |
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Main Assets |
: |
Tk.25.5 Million |
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FINANCIAL STATEMENT- DETAILED
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The subject company
don’t submit update financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister
Concerns |
: |
Classic Accessories Ltd. |
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Subsidiary |
: |
Nil |
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Name of
The Group |
: |
Nil |
BANKING
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Bank
Name |
: |
Basic Bank Ltd. |
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Bank
Address |
: |
Uttara Branch Plot No. 67/A
(1st floor), Rabindra Saroni Sector-7,
Uttara Model Town, Dhaka-1230. Tel:
02-8961032 Fax:
02-8961031 E-mail:
uttara@basicbanklimited.com |
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Bank
Name |
: |
Jamuna Bank
Ltd. |
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Bank
Address |
: |
Uttara Branch Singapur
Plaza, 17 Mymensingh Road, Secr-3,
Uttara, Dhaka-1230 Phone: 7912862
(Direct) 8962601 8933059,
8959346 (PABX) Email:
manager.uttara@jamunabank.com.bd |
ADVERSE DATA MONITORING
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Dishonored Checks |
: |
No Record Found |
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Debt |
: |
No Record Found |
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Litigation
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: |
Clear |
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Performance Defaults |
: |
No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE VISIT COMMENTARY
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Our representative visited the subject company registered address which is situated at House# 02, Road# 13/B, Sector# 10, Uttara, Dhaka-1230, Bangladesh. |
GENERAL COMMENTS
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Established in 2008, the subject company is mainly engaged in producing garments accessories. Having been in operation for several years, Subject maintains acceptable business volume. Hence, its financial condition, we recommend that Credit should proceed with monitor in Small amount-periodical review. |
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Adopted
Abbreviations: |
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NA- Not Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.73 |
|
|
1 |
Rs.100.92 |
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Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.