MIRA INFORM REPORT
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Report Date : |
14.09.2013 |
IDENTIFICATION DETAILS
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Name : |
A.K.H. KNITTING AND DYEING LTD. |
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Registered Office : |
133/134, Hemayetpur, Savar, Dhaka |
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Country : |
Bangladesh |
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Date of Incorporation : |
13.05.2003 |
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Com. Reg. No.: |
C-49207 |
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Legal Form : |
Private Co
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Line of Business : |
Manufacturer and exporter of T- Shirt, Polo Shirt, Sweat Shirt, Tank
Top, Boxer Shorts, Jogging Suit, Pajama Sets & Brief (Men’s &
Ladies). |
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No. of Employees : |
5500 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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Bangladesh |
B1 |
B1 |
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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 |
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
IDENTIFICATION DETAILS
|
Correct company Name |
: |
A.K.H. Knitting
and Dyeing Ltd. |
|
Head
office |
: |
133/134, Hemayetpur, Savar, Dhaka, Bangladesh. |
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Tel No |
: |
88-02-7744001-8 |
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Fax No |
: |
88-02-7741830-1 |
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E-mail |
: |
merchandising@akhknit.com |
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Website |
: |
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Date/ Year of Incorporation |
: |
13.05.2003 |
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Registered No. |
: |
C-49207 |
|
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
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||||
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Year |
Turnover/
Sales |
Assets |
Income |
|
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2011 |
Tk.310Million |
Tk.20 Million |
Tk.4.80 Million |
|
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2012 |
Tk.325 Million |
Tk.22 Million |
Tk.5.00 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: |
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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. Mir Zahidul Omar |
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Designation |
: |
Senior Commercial Manager |
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Contract No |
: |
- |
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Locations Details |
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Business Address |
: |
133/134, Hemayetpur, Savar, Dhaka, Bangladesh. |
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Tel No |
: |
88-02-7744001-8 |
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Fax |
: |
88-02-7741830-1 |
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Email |
: |
merchandising@akhknit.com |
|
Website |
: |
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Location : |
: Owned |
Ö |
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Rented |
|
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Leased |
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Area |
3400 |
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 |
: |
92, Phulbaria, Tetulzora, Savar,
Bangladesh. |
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Tel No |
: |
88-01713479212, 01711536592, 01713479243 |
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Fax No |
: |
880-2-9135987 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
1,00,000 |
Sq. ft. |
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Employee: |
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No. of Employees |
In Office |
: |
65 |
In Factory |
: |
5435 |
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In Branch: |
: |
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Total |
: |
5500 |
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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. Abul Kashem |
5000 |
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Mr. Md. Delwar Hossain |
5000 |
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Mr. Md. Samsul Alam |
5000 |
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Mr. Shamim Haque |
5000 |
DIRECTORS
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Name |
Designation |
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Mr. Md. Delwar Hossain |
Chairman |
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Mr. Md. Samsul Alam |
Managing Director |
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Mr. Md. Abul Kashem |
Director |
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Mr. Shamim Haque |
Director |
MANAGEMENT
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Name |
: |
Mr. Mir Zahidul Omar |
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Email address |
: |
- |
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Nationality |
: |
Bangladesh |
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Job Description |
: |
Senior
Commercial Manager |
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Other details |
: |
- |
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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Others |
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Range of
Products/Item Dealings In: |
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Products |
: |
T- Shirt, Polo Shirt, Sweat Shirt, Tank Top, Boxer Shorts, Jogging
Suit, Pajama Sets & Brief (Men’s & Ladies) etc. |
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Production Capacity |
: |
1, 20,000 doz per month |
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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 : |
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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 |
Ö |
Cash |
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Others |
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|||
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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 |
DETAILED DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
Kappa, Zara, Mascot, H&M, Khol, JC Penny. |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
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Trade Markets |
: |
Exports |
: |
Europe |
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Imports |
: |
China, India |
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Brand Name |
: |
N/A |
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Certified |
: |
ISO 9001:2000 |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
Bangladesh Garments Manufacturer &
Exporters Association |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk.30 Million |
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Paid-up Capital |
: |
Tk.2000000 |
No.
of Shares |
: |
20000 |
Share Value |
: |
Tk.100.00Each |
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Main Assets |
: |
Tk.22 Million |
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FINANCIAL STATEMENT- DETAILED
|
|
The subject company don’t submit update
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Sister Concerns |
: |
AKH Fashions Ltd AKH Shirts Ltd Angshuk Ltd AKH Apparel Ltd AKH Knitting & Dyeing Ltd AKH Knitwear Ltd AKH Carbo Service AKH Stitch Art Ltd AKH Trims Ltd AKH Textiles Ind. Ltd AKH Washing Ltd Sabah Trade International Ltd AKH Packaging & Accessories Ltd |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
AKH Group |
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BANKING
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Bank Name
|
: |
Export Import Bank
of Bangladesh Ltd. |
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Bank Address |
: |
Gulshan Branch, 75, Gulshan Avenue, CWSA-10,
Gulshan, Dhaka. |
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ADVERSE DATA MONITORING
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Dishonored Checks |
:
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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 |
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SITE VISIT COMMENTARY
|
|
Our representative visited the subject company Head Office at 133/134,
Hemayetpur, Savar, Dhaka, Bangladesh. It is situated outside of Dhaka city
which is industrial area. |
GENERAL COMMENTS
|
|
Based on
financial statement, the subject company financial performance appears to be Excellent. Hence, we recommended that Credit
can proceed with favorable terms in Large amount |
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Adopted Abbreviations: |
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NA- Not Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.79 |
|
|
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.84.67 |
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.