|
Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
HAMZA TEXTILES LTD |
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Registered Office : |
BGMEA Complex (12th Floor), 23/1 Panthapath , |
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Country : |
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Year of Establishments : |
2005 |
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Com. Reg. No.: |
C-53286 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer & Exporter of Dyeing,
Knit, Fabrics, T Shirt, Polo Shirt & Tank Tops |
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|
No of Employees : |
550 (15 in Office & 485 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 : |
No Complaints |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Bangladesh |
a2 |
a2 |
|
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
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
|
||
|
Correct
company Name |
: |
Hamza Textiles Ltd |
|
Head
Office |
: |
BGMEA Complex (12th Floor), 23/1 Panthapath , Link
Road, Kawran Bazar, Dhaka-1000,Bangladesh |
|
Tel
No |
: |
88-02-8140207-12,
81 40367-74 |
|
Fax
No |
: |
88-02-81402014 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Previous
Address |
: |
102, Green
Road Farmgate Tejgoan 1215 Dhaka Bangladesh |
|
Year
of Incorporation |
: |
2005 |
|
Incorporation No. |
: |
C-53286 |
|
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 |
|
July’ 12~June’ 13 |
BDT 1039.611 Million |
BDT 975.64 Million |
BDT 100.83 Million |
|
July’ 13~June’ 14 |
BDT 1261.75 Million |
BDT 1024.50 Million |
BDT 115.62 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 |
|
Information
Parted By
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Name |
: |
Mr. Md. Jafar Iqbal |
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Designation |
: |
Manager |
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Locations Details
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Operating
Address |
: |
BGMEA Complex (12th
Floor), 23/1 Panthapath , Link Road, Kawran Bazar, Dhaka-1000,Bangladesh
|
|||
|
Tel
No |
: |
88-02-8140207-12,
81 40367-74 |
|||
|
Fax
No |
: |
88-02-81402014 |
|||
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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 |
3300 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
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 |
: |
Nayapara, Kashimpur,
Gazipur, Bangladesh. |
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Tel
No |
: |
Tel: 88-02-9297701-09 |
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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 |
55000 |
Sq. ft. |
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Employee: |
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No.
of Employees |
In
Office |
: |
15 |
In
Factory |
: |
485 |
|
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In Branch: |
: |
|
Total
|
: |
550 |
||
|
Names of Shareholders |
No. of Share |
|
Mr. Abdul Wahed |
2900000 |
|
Mr. M. A. Jabbar |
3500000 |
|
Mr. M. A. Rahim |
3500000 |
|
Mr. M. A. Quader |
3800000 |
|
Mrs. Parveen Wahed |
800000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Abdul Wahed |
Chairman |
|
Mr. M. A. Jabbar |
Managing Director |
|
Mr. M. A. Rahim |
Director |
|
Mr. M. A. Quader |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Jafar Iqbal
|
|
Job Description |
: |
Managing |
|
Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
|
Other details |
: |
N/A |
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Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
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Distributor |
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|||||||
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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: |
||
|
Products |
: |
Dyeing,
Knit, Fabrics, T Shirt, Polo Shirt & Tank Tops |
|
Production
Capacity |
: |
49, 00,000 Kgs per Year. |
|
Last Year Production |
: |
49, 00,000 Kgs per
Year. |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
|
Others |
|
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|||
|
|
Credit
: |
|
30
days |
|
60
days |
Ö |
90
days |
|
|
days |
|
Selling
Terms : |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
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Credit
: |
|
30
days |
|
60
days |
Ö |
90
days |
|
|
days |
DETAILED DATA
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||||||||||
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
Target, JC Penny,
Wal-Mart, K-Mart, Sears |
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 |
: |
China, India,
Italy, Pakistan. |
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Brand Name |
: |
Nil |
|||||||||
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Certified |
: |
ISD 14001:2004 |
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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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||||||||
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Authorized Capital |
: |
BDT 1000 Million |
|
||||||
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Paid-up Capital |
: |
BDT 18,00,00,000 |
No. of Shares |
: |
1,80,00,000 |
Share Value |
: |
BDT 10.00Each |
|
|
Main Assets |
: |
BDT 1024.50 Million |
|
||||||
FINANCIAL STATEMENT-
DETAILED
|
|
The subject company
don’t submit update financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
Parkway Packaging
& Printing Ltd Dulal Brothers Ltd. Fashion Concern
Ltd. Flamingo Fashions
Ltd. Jinnat Apparels Ltd. Jinnat Fashions
Ltd. Jinnat Knitwears
Ltd. Matin Knitwears
Ltd. Mymun Textiles Ltd. Hamza Textile Ltd. Matin Spinning Mils
Ltd Thanbee Print World
Ltd. Textile Testing
Services Limited Fashion Concern
LLC. USA Atelier Sourcing
Ltd Matin Jinnat Foundation |
|
Subsidiary |
: |
Nil |
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Name of The Group |
: |
DBL Group |
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Bank Name |
: |
Jamuna Bank Ld |
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Bank Address |
: |
Dilkusha Branch 3, Dilkusha C/A,
Dhaka - 1000, Bangladesh Tel: 88-02-9570912,
9555141 Fax: 880-2-9565762 |
|
|
||
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Bank Name |
: |
Social Islami Bank
Ltd. |
|
Bank Address |
: |
Principal Branch 15, Dilkusha C/A,
Dhaka. Tel: 88-02-9564764, 9559241 |
|
|
|
|
|
Bank Name |
: |
Islamai Bank
Bangladesh Ltd. |
|
Bank Address |
: |
Local Office 75, Motijheel C/A, Dhaka-1000 Phone:
88-02-9571201-2, 9568187, PABX-9552897 Mobile: 01711-694317 G B # 01711-693901-03 Fax: 880-2-9561105,
9561995 |
|
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 |
SITE VISIT COMMENTARY
|
|
Our representative
visited the subject company Head Office which is situated at BGMEA Complex
(12th Floor), 23/1 Panthapath , Link Road, Kawran Bazar,
Dhaka-1000,Bangladesh. It is situated at commercial area & their office
is well decorated. |
GENERAL COMMENTS
|
|
SC is considered
medium-sized in its line with fairly stable financial conditions. |
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.32 |
|
UK Pound |
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.78.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
|
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.