MIRA INFORM REPORT

 

 

Report Date :

29.12.2014

 

IDENTIFICATION DETAILS

 

Name :

GRAPHICS TEXTILES LIMITERD

 

 

Registered Office :

225, Tejgaon I/A (1st Floor), Dhaka-1208

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

24.04.2006

 

 

Com. Reg. No.:

C-61384

 

 

Legal Form :

Private Company 

 

 

Line of Business :

Engaged in Manufacturer, Printing, Dyeing & Exporter of Fabric &  Readymade Garments such as T – Shirt, Polo Shirt, Tank Top, Ladies Fashion Wear, Kids Wear, Pyjamas, Shorts, Trousers, Jogging Suits & Other Knit Items

 

Subject product ranges includes:-

 

Fabric

Single Jersey

Pique

Lacoste

Interlock

Ribs

Drop Needles

2 thread Terry

Cotton / Elastance

CVC T/C

Other blends in Solids & Yarn Dyed

 

Ready made Garments

T - shirt

Polo Shirt

Tank Top

Ladies Fashion wear

Kids wear

Pyjamas

Shorts

Trousers

Jogging Suits

Other knit items

 

 

No of Employees :

1470 (70 in Office & 1400 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

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

 

 

 

IDENTIFICATION DETAILS

 

Correct company Name

:

Graphics Textiles Limiterd

Head Office

:

225, Tejgaon I/A (1st Floor), Dhaka-1208, Bangladesh.

Tel No

:

88-02-8819464-9, 01611688164

Fax No

:

88-02-8819472-3

E-mail

:

graphicstextiles@gmail.com  , contact@graphics.com.bd

Website

:

www.gtltd.com.bd

Date of Incorporation

:

24/04/2006

Incorporation No.

:

C- 61384

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

 

      Year

Turnover/ Sales

 Assets

     Income

July’ 12~June’ 13

BDT 2409.90 Million

BDT 610.56 Million

BDT 176.50 Million

July’ 13~June’ 14

BDT 2647.50  Million

BDT 649.32 Million

BDT 193.26  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

 

 

 

Name

:

Mr. Rafiquel Islam

Designation

:

Manager

 

 

Locations Details

 

Operating Address

:

225, Tejgaon I/A (1st Floor), Dhaka-1208, Bangladesh.

Tel No

:

88-02-8819464-9, 01611688164

Fax No

:

88-02-8819472-3

E-mail

:

graphicstextiles@gmail.com , contact@graphics.com.bd  

Website

:

www.gtltd.com.bd

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

2400

Sq. ft.

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

     

 

Retail shop

 

 

Industrial Park

Ö

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Sreerampur, Sutipara, Dhamrai, Dhaka, Bangladesh.

Tel No

:

88-09613224488

Fax No

:

 

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

1,20,000

Sq. ft.

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

70

In Factory

:

1400

In Branch:

:

 

Total

:

1470

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mrs. Salina Malek Chowdhury

           25000

Mr. Warid Malek Chowdhury         

           25000

Mr. Najib Malek Chowdhury    

           30000

Mrs. Hira Razzaque Qayyum

            7500

Mr. Ehtesham Haider Khan

            5000

Khandaker Feroze Qayyum

            7500

 

 

DIRECTORS

 

Name

Designation

Mrs. Salina Malek Chowdhury

Chairman

Mr. Warid Malek Chowdhury         

Managing Director

Mr. Najib Malek Chowdhury    

Director

Mrs. Hira Razzaque Qayyum

Director

Mr. Ehtesham Haider Khan

Director

Khandaker Feroze Qayyum

Director

 

 

MANAGEMENT

 

Name

:

Mr. Rafiquel Islam

Job Description

:

Manager

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Printing

Ö

Distributor

 

 

 

 

Exporter

Ö

Importer

 

Dyeing 

Ö

Others

 

 

 

Range of Products:

Products

:

Fabric

Single Jersey

Pique

Lacoste

Interlock

Ribs

Drop Needles

2 thread Terry

Cotton / Elastance

CVC T/C

Other blends in Solids & Yarn Dyed

 

Garment

T - shirt

Polo Shirt

Tank Top

Ladies Fashion wear

Kids wear

Pyjamas

Shorts

Trousers

Jogging Suits

Other knit items

Production Capacity

:

Garments: 46,200 Pcs per day

Printing: 50,000 Pcs per day.

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

 

 

DETAILED DATA

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

Wal-Mart

Target   

JC Penny

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports

:

USA

 

Imports

:

China, India, Thailand

 

 

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

N/A

Operation Status

:

Active

Member

:

 Bangladesh Knitwear Manufacturers & Exports  Association

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

BDT 500 Million

 

Paid-up Capital

:

BDT 10000000

    No. of Shares

:

100000

Share Value

:

BDT 100.00Each

Main Assets

:

BDT 649.32 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

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

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Graphics Limited

Subsidiary

:

N/A

Name of  The Group

:

N/A

 

 

BANKING

 

Bank Name  

:

AB Bank Ltd.

Bank Address

:

Mohakhali Branch,

14, Mohakhali C/A, Dhaka Bangladesh

 

Bank Name  

:

One Bank Limited

Bank Address

:

Gulshan Branch

97Gulshan Avenue-1, Dhaka, Bangladesh

Tel: 880-29058212111

 

 

 

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

 

 

SITE VISIT COMMENTARY

 

Our representative visited the subject company Head Office which is situated at 225, Tejgaon I/A (1st Floor), Dhaka-1208, Bangladesh. It is situated at industrial area.

 

GENERAL COMMENTS

 

Subject is mainly engaged in Manufacturer & Exporter of Readymade composite Garments. The subject company maintains acceptable business volume.

Based on the financial statements, SC’s financial performance appears to be average

 

Adopted Abbreviations:

NA- Not Available

 TK- Bangladeshi Taka

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.64

UK Pound

1

Rs.98.98

Euro

1

Rs.77.74

 

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

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.