MIRA
INFORM REPORT
|
Report Date : |
23.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
HA- MEEM DENIM LIMITED |
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Registered Office : |
198/A, Tejgaon Link Road, Tejgaon-I/A, Dhaka-1208 |
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Country : |
Bangladesh |
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Date of Incorporation : |
18.11.2004 |
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Com. Reg. No.: |
C-54943 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer and Exporter of all
Kinds of Denim Fabrics. |
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No. of Employees : |
640 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Bangladesh |
B1 |
B1 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 |
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 |
EXECUTIVE SUMMARY
|
IDENTIFICATION DETAILS |
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Correct company Name |
: |
Ha- Meem Denim Limited |
|
Head Office |
: |
198/A, Tejgaon Link
Road, Tejgaon-I/A, Dhaka-1208, Bangladesh |
|
Tel No |
: |
88-02-9889628,
9893865, 98793938, 9891105, 9889813, 98899813 |
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Fax No |
: |
Nil |
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E-mail |
: |
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|
Website |
: |
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Date/ Year of Incorporation |
: |
18.11.2004 |
|
Incorporation No. |
: |
C-54943 |
|
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)
________________ |
|
Issuing Authority |
: |
Registrar
of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
|
|
2011 |
Tk.210 Million |
Tk.45 Crore |
Tk.2.75 Million |
|
|
2012 |
Tk.253Million |
Tk.45.5 Crore |
Tk.3.5 million |
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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: |
|||||||||
|
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
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- |
- |
- |
- |
- |
- |
- |
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Information
Parted By
|
Name |
: |
Mr.Monjur Hassan |
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Designation |
: |
Manager of
Marketing Supply Chain |
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Contract No |
: |
Nil |
Locations Details
|
Business Address |
: |
198/A, Tejgaon Link
Road, Tejgaon-I/A, Dhaka-1208, Bangladesh |
|
Tel No |
: |
88-02-9889628,
9893865, 98793938, 9891105, 9889813, 98899813 |
|
E-mail |
: |
Nil |
|
Fax No |
: |
monjur_denim@yahoo.com, rafiqulalam_15@yahoo.com, hameemdenim@hameemgroup.net |
|
Website |
: |
www.hameemdenim.com |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
4500 |
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 |
: |
Mawna, Sreepur, Gazipur, Bangladesh. |
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Tel No |
: |
88-01711-046722, 01195-00162 |
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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 |
4.5 |
Acores |
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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 |
Ö |
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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 |
In
Office |
: |
28 |
In
Factory |
: |
612 |
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In
Branch: |
: |
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Total |
: |
640 |
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OWNERSHIP/SHAREHOLDERS
|
Names of Shareholders |
No. of Share |
|
Mr.
A.K.M. Azad |
3500 |
|
Mr.
Md. Motaleb Hossain |
1500 |
DIRECTORS
|
Name |
Designation |
|
Mr. A.K.M. Azad- |
Managing Director |
|
Mr. Md. Motaleb Hossain |
Director |
Management
|
Name |
: |
Mr.Monjur Hassan |
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Job Description |
: |
Manager of
Marketing Supply Chain |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
- |
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Other details |
: |
- |
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Name |
: |
Saidur
Rahman |
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Job Description |
: |
Executive |
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Nationality |
: |
Bangladesh |
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Email address |
: |
Nil |
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Other details |
: |
Nil |
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Name |
: |
Mr.Parvez |
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Job Description |
: |
Commercial
Officer |
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Nationality |
: |
Bangladesh |
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Email address |
: |
Nil |
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Other details |
: |
Nil |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Range of Products/Item Dealings In: |
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Products |
: |
All Kinds of Denim
Fabrics. |
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Production
Capacity |
: |
9.6 M. Kgs Per year |
|
Last Year Production |
: |
Do |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
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Selling
Terms : |
L/C |
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Cash |
Ö |
Others |
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|||
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Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
DETAILED DATA
|
Trade Reference & Related Parties |
: |
Overseas
Clients |
: |
N/A |
Local
Clients |
: |
N/A |
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Overseas
Suppliers |
: |
N/A |
Local
Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
Europe, USA |
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Imports |
: |
China, India |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
Nil |
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Operation Status |
: |
Active |
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Member |
: |
Bangladesh Textile Mills Association, Dhaka |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk.50Crore |
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Paid-up Capital |
: |
Tk.5,00,000 |
No.
of Shares |
: |
5000 |
Share Value |
: |
Tk.100.00Each |
|
Main Assets |
: |
Tk.45.5 Crore |
||||||
FINANCIAL STATEMENT- DETAILED
The subject company don’t submit update
financial figure to local registry office.
Associates/ Subsidiaries/ Related Parties
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Sister Concerns |
: |
Ha-Meem Fashions Ltd. Ha-Meem Apparels Ltd. That’s It Fashions Ltd. That’s It Garments Ltd. Sajid Apparels Ltd. Asha Fashions Ltd. New Modern Garments Ind. Ltd Modern washing Plant Modern Sand Brush & Blashing Ltd. Ha-Meem Washing Plant That’s It Packaging Ltd. Sakib Poly Ind. Ltd. Modern Cargo Carrier That’s It Embroidery Ltd. That’s It Knit Ltd. That’s Printing Ltd. Channel 24 Dainik
Somokal |
|
Subsidiary |
: |
Nil |
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Name of The Group |
: |
Ha-
Meem Group |
BANKING
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Bank Name
|
: |
Pubali Bank Ltd |
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Bank Address |
: |
Motijheel Branch, Sena Kallyan
Bhaban 195, Motijheel Comm. Area Dhaka-1000, Bangladesh Tel:
880 7163366 Fax:
880 2 9550635/11 Hong Kong Shanghai Banking Corporation |
ADVERSE DATA MONITORING
|
Dishonored Checks |
:
|
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
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
Our representative visited the subject company Head office address which is situated at198/A, Tejgaon Link Road,
Tejgaon-I/A, Dhaka-1208, Bangladesh
GENERAL COMMENTS
Based on the financial statement, the subject company financial
performance appears to be Average. Taking into account its standing history,
reputation in the market, as well as its financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.02 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.84.92 |
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 |
|
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.