MIRA INFORM REPORT

 

 

Report Date :

03.02.2014

 

IDENTIFICATION DETAILS

 

Name :

KLD APPARELS LTD.

 

 

Registered Office :

House # 532/3(2nd & 3rd Floor), Road # 11 (west), Baridhara DOHS, Dhaka -1212,

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

10.10.2013

 

 

Com. Reg. No.:

C-111897

 

 

Legal Form :

Private Co

 

 

Line of Business :

Manufacturer and  Exporter of Shirts, Basic Chino Pant

 

 

No. of Employees :

150

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

New Business

 

--

 

Status :

New Company

Payment Behaviour :

Unknown

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, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

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

 

 

 

 

company Name and address

 

Correct company Name

:

KLD APPARELS LTD.

Head Office

:

House # 532/3(2nd & 3rd Floor), Road # 11 (west), Baridhara DOHS, Dhaka -1212, Bangladesh

Tel No

:

8802 9886370

Fax No

:

8802 9893368

E-mail

:

akash@preciseclothings.com

Website

:

www.preciseclothings.com

Date/ Year of Incorporation

:

10.10.2013

Incorporation No.

:

C-111897

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

N/A

N/A

N/A

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

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Md. Shahidul Islam Akash

Designation

:

Managing Director

Contract No

:

88-01817098661

 

                                                               Locations Details

 

Business Address

:

House # 532/3(2nd & 3rd Floor), Road # 11 (west), Baridhara DOHS, Dhaka -1212, Bangladesh

Tel No

:

8802 9886370

E-mail

:

8802 9893368

Fax No

:

akash@preciseclothings.com

Website

:

www.preciseclothings.com

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

1400

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

Ö

     

 

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Holding# 635, Borabo, PO: Tarabo, Rupgonj, Narayangonj, Bangladesh

Tel No

:

N/A

Fax No

:

N/A

 

Location :

   Owned

 

 

Rented

Ö

 

Leased

 

Area

15,000

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

N/A

Fax No

:

N/A

 

Location :

Owned

 

 

Rented

 

 

Leased

 

Area

 

Sq. ft.

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

5

In Factory

:

145

In Branch:

:

 

Total

:

150

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Anil Kumar Srivastava

                           50,000

Mr.  Md. Shahidul Islam Akash

                           50,000

 

 

DIRECTORS

 

Name

Designation

Mr. Anil Kumar Srivastava

Chairman

Mr.  Md. Shahidul Islam Akash

Managing Director

 

 

MANAGEMENT

 

Name

:

Mr. Md. Shahidul Islam Akash

Job Description

:

Managing Director

Nationality

:

Bangladeshi

Email address

:

akash@preciseclothings.com

Other details

:

88-01817098661

 

 

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

Range of Products/Item Dealings In:

 

Products

:

Shirts, Basic Chino Pant

Production Capacity

:

N/A

Last Year Production

:

N/A

 

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

:

SRG IMPORTS LTD,

MAX-DUBAI,

SHOEBY FASHION,

GARCIA,

LONG BEACH,

SWANDRI,

 SELA

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

Europe

 

Imports

:

India, China

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Acitve

Member

:

 N/A

 

 

CAPITAL STRUCTURE

 

 

 

Authorized Capital

:

Tk.50 Million

 

Paid-up Capital

:

Tk.10,00,000

    No. of Shares

:

1,00,000

Share Value

:

Tk.10.00Each

Main Assets

:

N/A

 

 

 

FINANCIAL STATEMENT- DETAILED

 

N/A

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Precise Clothing

Favourite  Knitwears Ltd

Subsidiary

:

N/A

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

Mercantile Bank Ltd

Bank Address

:

Banani Branch

34, Kemal Ataturk Avenue

Dhaka, Bangladesh

 

Bank Name  

:

Bank Asia Limited,

Bank Address

:

Narayangonj Branch,

Chasara. Narayonganj

 

 

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 House # 532/3(2nd & 3rd Floor), Road # 11 (west), Baridhara DOHS, Dhaka -1212, Banglades

 

 

GENERAL COMMENTS

 

Established in 2013, Subject is mainly engaged in manufacturer & Exporter of readymade garments..

 

       

Adopted Abbreviations:

NA- Not Available

 TK- Bangladeshi Taka

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.48

UK Pound

1

Rs.102.95

Euro

1

Rs.84.60

 

 

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%)

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.