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Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
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Name : |
MOM TEX LIMITED |
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Registered Office : |
House # 97, Road 11/A, Dhanmondi R/A, Dhaka 1209 |
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Country : |
Bangladesh |
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Date of Incorporation : |
25.08.2009 |
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Com. Reg. No.: |
C-79387 |
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Legal Form : |
Private Company |
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Line of Business : |
Engaged in Dyeing & Printing of, 3 Pieces, Dress Materials, Voil, Poplin, finest Sharees, Printed Fabrics, Lungees,
Bed sheets, Shirting and Suiting. |
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No of Employees : |
07 (5 In Office & 2 in
Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Yet to Commenced Commercial Production |
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Payment Behaviour : |
Unknown |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bangladesh |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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
Bangladesh's economy has
grown roughly 6% per year since 1996 despite political instability, poor
infrastructure, corruption, insufficient power supplies, slow implementation of
economic reforms, and the 2008-09 global financial crisis and recession.
Although more than half of GDP is generated through the service sector, almost
half of Bangladeshis are employed in the agriculture sector with rice as the
single-most-important product. Garment exports, the backbone of Bangladesh’s
industrial sector and 80% of total exports, surpassed $21 billion last year,
18% of GDP. The sector has remained resilient in recent years amidst a series
of factory accidents that have killed over 1,000 workers and crippling strikes
that shut down virtually all economic activity. Steady garment export growth
combined with remittances from overseas Bangladeshis, which totaled almost $15
billion and 13% of GDP IN 2013, are the largest contributors to Bangladesh’s
current account surplus and record foreign exchange holdings.
|
Source : CIA |
IDENTIFICATION
DETAILS
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Correct
company Name |
: |
Mom Tex Limited |
|
Head
Office |
: |
House # 97, Road 11/A, Dhanmondi R/A, Dhaka 1209,
Bangladesh
|
|
Tel
No |
: |
88-01819412422 |
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Fax
No |
: |
88-02-8142419 |
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E-mail |
: |
|
|
Website |
: |
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Year
of Incorporation |
: |
25/08/2009 |
|
Incorporation No. |
: |
C- 79387 |
|
Legal
Form (General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole
Proprietorship 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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New Company |
N/A |
N/A |
N/A |
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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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Information
Parted By
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Name |
: |
Mr. Mostaqur
Rahaman |
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Designation |
: |
General Manager |
Locations
Details
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Operating
Address |
: |
House # 97, Road 11/A, Dhanmondi R/A, Dhaka 1209,
Bangladesh
|
|
Tel
No |
: |
88-01819412422 |
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Fax
No |
: |
88-02-8142419 |
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E-mail |
: |
|
|
Website |
: |
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Location : |
: Owned |
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Rented |
Ö |
|
Leased |
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Area |
1200 |
Sq. ft. |
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Type of Office : |
: Commercial
Office Bldg. |
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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. |
Ö |
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Factory: |
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Address |
: |
Shilmandi,
Panchdona Narsingdi, Bangladesh |
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Tel
No |
: |
N/A |
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Fax
No |
: |
N/A |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
20,000 |
Sq. ft. |
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Employee: |
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No.
of Employees |
In Office |
: |
5 |
In Factory |
: |
2 |
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In Branch: |
: |
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Total
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: |
7 |
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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. Rakibul Islam
Khan |
20000 |
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Mr. Rafiqul Islam
Khan |
30000 |
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Mrs. Mamtaz Begum |
20000 |
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Mr. Reajul Islam
Khan |
30000 |
DIRECTORS
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Name |
Designation |
|
Mr. Rafiqul Islam
Khan |
Chairman |
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Mrs. Mamtaz Begum |
Managing Director |
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Mr. Reajul Islam
Khan |
Director |
MANAGEMENT
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||
|
Name |
: |
Mr. Mostaqur
Rahaman |
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Job Description |
: |
General Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Nature
of Activity : |
Dyeing
& Printing |
Ö |
Trader |
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Dealer |
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Distributor |
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|||||||
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Exporter |
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Importer |
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Services |
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Others |
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Range of Products: |
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Products |
: |
3 Pieces, Dress Materials, Voil, Poplin, finest
Sharees, Printed Fabrics, Lungees, Bed sheets, Shirting and Suiting. |
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Production
Capacity |
: |
2, 50,000
meter fabric per day |
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Last Year Production |
: |
Do. |
Trading Terms:
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Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit
: |
|
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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|||
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Credit
: |
Ö |
30
days |
|
60
days |
|
90
days |
|
|
days |
DETAILED DATA
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||||||||||
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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 |
: |
N/A |
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Imports |
: |
India, China |
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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 |
: |
BDT 250,000,000.00 |
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Paid-up Capital |
: |
BDT 10000000 |
No. of Shares |
: |
100000 |
Share Value |
: |
BDT 100.00Each |
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Main Assets |
: |
N/A |
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ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
||
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Sister Concerns |
: |
Pakiza Cotton
Spinning Mills Pakiza Dyeing &
Printing Ind. (Pvt) Ltd Pakiza Garden
Textiles (Pvt) Ltd Pakiza Spinning
Mills Pakiza Textile Ltd. Pakiza Knit
Composite Ltd |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Pakiza Group |
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Bank Name |
: |
Dutch Bangla Bank
Ltd |
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Bank Address |
: |
Local Office 1, Dilkusha
Commercial Area, Dhaka-1000, Bangladesh |
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|
||
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Bank Name |
: |
Prime Bank Ltd |
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Bank Address |
: |
Satmasjid Road
Branch Address: House # 99,
Road # 11/A, Dhanmondi R/A, Dhaka-1209 Phone: (02)
9122374,8124258 Email:
pblsatmasjid@primebank.com.bd Fax: (02) 8121652 |
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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 which is situated at House # 97, Road 11/A, Dhanmondi R/A, Dhaka
1209, Bangladesh. It is situated at residential area & their office is
well decorated.
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GENERAL COMMENTS
|
|
The subject company is not starting their production yet. Hope they
will be stat the commercial production next June, 2014. |
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Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.97 |
|
UK Pound |
1 |
Rs.97.37 |
|
Euro |
1 |
Rs.77.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
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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 |
|
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.