MIRA INFORM REPORT

 

 

Report Date :

17.09.2013

 

IDENTIFICATION DETAILS

 

Name :

KAZIPUR FASHIONS LTD.

 

 

Registered Office :

Civil Engineers Bhaban, 69, Mohakhali C/A, Mohakhali, Dhaka -1212,

 

 

Country :

Bangladesh. 

 

 

Date of Incorporation :

01-10-1994

 

 

Com. Reg. No.:

C-26757

 

 

Legal Form :

Private Co

 

 

Line of Business :

Manufacturer and Exporter of Jackets, Pants, and Overalls.

 

 

No. of Employees :

1250 (In Office 21 + 1229 In Factory)

 

 

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 :

Regular

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

 

 

Rounded Rectangle: COMPANY SUMMARY
 

 

 

IDENTIFICATION DETAILS

 

Correct company Name

:

KAZIPUR FASHIONS LTD.

Head office

:

Civil Engineers Bhaban, 69, Mohakhali C/A, Mohakhali, Dhaka -1212, Bangladesh. 

Tel No

:

88-02-9862003

Fax No

:

88-02-9893175

E-mail

:

info@standard-group.com

Website

:

www.standard-group.com

Date/ Year of Incorporation

:

01-10-1994

Registered No.

:

C-26757

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)

 

Rounded Rectangle: FINANCIALS- SUMMARY 

 

 

 

      Year

Turnover/ Sales

 Assets

     Income

     2011

Tk.175 Million

Tk.80 million

Tk.2.5 million

     2012

Tk.185 million

Tk.80.5 million

Tk.2.80 million

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

 

 

 

 

Sales Trend – Analysis:

2002

2003

2004

2005

2006

2007

2008

2010

2011

2012

-

-

-

-

-

-

-

 

http://www.asiancredit.com/Manage/image/up_arrow_04.gif

http://www.asiancredit.com/Manage/image/up_arrow_04.gif

 

 

 

 

Rounded Rectangle: FULLCHECK REPORT DETAILS

 

Information Parted By

 

 

 

Name

:

Mr. Rafiq

Designation

:

Manager-Admin

Contract No

:

-

 

 

Locations Details

 

Business Address

:

Civil Engineers Bhaban, 69, Mohakhali C/A, Mohakhali, Dhaka -1212, Bangladesh. 

Tel No

:

88-02-9862003

Fax

:

88-02-9893175

Email

:

info@standard-group.com

Website

:

www.standard-group.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

3500

Sq. ft.

 

 

Type of Office :

  :      Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

 

 

Retail shop

 

 

Industrial Park

 

 

 

Business Center

 

 

Home Office

 

 

 

Residential Bldg.

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

JarunKonabari (5th Floor East Side) Gazipur, Sadar, Gazipur, Bangladesh

Tel No

:

88-02-9297061-8, 9289407, 9289408-10

Fax No

:

88-02-9297943, 9297897

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

40,500

Sq. ft.

 

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

21

In Factory

:

1229

In Branch:

:

 

Total

:

1250

Details:

 

 

 

 

 

 

Rounded Rectangle: OWNERSHIP/SHAREHOLDERS

Names of Shareholders

            No. of Share

Engr. Md. AtiqurRahman

21550

Engr. A.K.M. MosharrafHussain

21550

FaheemRahman

21550

Mahmuda Begum

21550

H.T.M. QuaderNewaz

21550

TasmiahRahman

21550

HasnatMosharraf

21550

HasibMosharraf

21550

FariaRahman

21550

HusnaAra Begum

21550

 

 

Rounded Rectangle: DIRECTORS
 

 

 

Name

Designation

Engr. Md. AtiqurRahman

Managing Director

Engr. A.K.M. MosharrafHussain

Director

FaheemRahman

Director

Mahmuda Begum

Director

H.T.M. QuaderNewaz

Director

TasmiahRahman

Director

HasnatMosharraf

Director

HasibMosharraf

Director

FariaRahman

Director

HusnaAra Begum

Director

 

Rounded Rectangle: MANAGEMENT
 

 

 

Name

:

Mr. Rafiq

Email address

:

-

Nationality

:

Bangladeshi

Job Description

:

Manager-Admin

Other details

:

-

 

                                                                                                             

Rounded Rectangle: BUSINESS OPERATIONS 

 

 

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

Exporter

Ö

Importer

 

Others

 

 

 

 

Range of Products/Item Dealings In:

 

Products

:

Jackets, Pants, and Overalls.

Production Capacity

:

48000 doz. per year.

Last Year Production

:

Do

 

 

Trading Terms:

 

Purchasing Terms:

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

Selling Terms      :

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

 

 

 

 

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

Kappa, Tesco, Zara, C&A

Local Clients

:

N/A

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports

 

:

USA, Germany, France

Imports

:

China, India

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Garments Manufacturer & Exporters Association

 

 

 

Rounded Rectangle: CAPITAL STRUCTURE
 

 

 

 

Authorized Capital

:

Tk. 100 Million

Paid-up Capital

:

Tk.21550000

No. of Shares

:

215500

Share Value

:

Tk.100.00Each

Main Assets

:

Tk.80.5 million

 

 

Rounded Rectangle: FINANCIAL STATEMENT- DETAILED
 

 

 

The subject company don’t submit update financial figure to local registry office.

 

 

 

Rounded Rectangle: ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
 

 

 

Sister Concerns

:

The Civil Engineers Ltd

Standard Garments Ind. Ltd

International Trading Services Ltd.

Standard Group Limited 

Standard Stitches Limited

Subsidiary

:

N/A

Name of  The Group

:

Standard Group

Rounded Rectangle: ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES Rounded Rectangle: BANKING

 

 

 

 

 

 

Bank Name  

:

Jamuna Bank Ltd.

 

Bank Address

:

Konabari Branch

BSCIC Industrial Area, Konabari, Gazipur

Tel: 88-02-9297182, 9297183

 

 

 

Rounded Rectangle: ADVERSE DATA MONITORING

 

 

 

 

Dishonored Checks           

 

:     

No Record Found         

Debt

 

:

No Record Found

Litigation  

 

:

Clear         

Performance Defaults

 

:

No Record Found         

Adverse Local Media Coverage/ Adverse Filling History

:

No Record Found

 

 

Rounded Rectangle: SITE VISIT COMMENTARY

Our representative visited the subject company head office which is situated at JarunKonabari (5th Floor East Side) Gazipur, Sadar, Gazipur, Bangladesh. There office is well decorated&Mr. Rafiq– Manager Admin. Of the company was given us all information.

 

 

Rounded Rectangle: GENERAL COMMENTS

Based on the financial statement, the subject company financial performance appears to be Fair. The subject company has been in its line of business about 19 years. Taking into account its standing history, reputation in the market, as well as its financial condition, we recommend that Credit can proceed promptly in Fairly large amount

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.48

UK Pound

1

Rs.99.66

Euro

1

Rs.83.49

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.