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Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SMART JACKET (BD) LIMITED |
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Registered Office : |
9/10, |
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Country : |
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Date of Incorporation : |
13.01.2011 |
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Com. Reg. No.: |
CH-8281 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer
& Exporter of Ready-made garments
such as Jackets |
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No. of Employees : |
3041 |
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 |
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Payment Behaviour : |
No Complaints |
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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 – 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 |
IDENTIFICATION DETAILS
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Correct
company Name |
: |
Smart Jacket (Bd)
Limited |
|
Head
Office |
: |
9/10, Fidc Road, Kalurghat Heavy I/A, Chandgaon,
Chittagong, Bangladesh. |
|
Tel
No |
: |
88-031-2570701-2, 2571334-8 |
|
Fax
No |
: |
88-031-2570703 |
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E-mail |
: |
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|
Website |
: |
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|
Date/ Year of Incorporation |
: |
13.01.2011 |
|
Incorporation No. |
: |
CH-8281 |
|
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 |
|
(Dec’11~ Dec’12) |
Tk. 325 Million |
Tk. 18.5 Million |
Tk. 3.20 Million |
|
(Dec’12~ Dec’13) |
Tk. 351 Million |
Tk. 19 Million |
Tk. 3.50 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. Riten Das |
|
Designation |
: |
HR Manager
Coordinator |
|
Contract No |
: |
88-01755545598 |
Locations Details
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Business
Address |
: |
9/10 Fidc Road, Kalurghat Heavy I/A, Chandgaon,
Chittagong, Bangladesh. |
|
Tel
No |
: |
88-031-2570701-2, 2571334-8 |
|
Fax
No |
: |
88-031-2570703 |
|
E-mail |
: |
|
|
Website |
: |
|
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Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
3500 |
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 |
: |
Plot# 13, Road# 5, Sector# 1/A, CEPZ, Chittagong,
Bangladesh. |
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Tel
No |
: |
88-031-800801, 741323 |
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Fax
No |
: |
88-031-741967 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
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Sq. ft. |
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Branches: |
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Address |
: |
House# B-123,
Lane # 21, New D.O.H.S. Mohakhali, Dhaka-1206, Bangladesh. |
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Tel
No |
: |
88-02-8811517, 9886131, 9886247 |
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Fax
No |
: |
88-02-8815063 |
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Employee: |
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No.
of Employees |
In Office |
: |
41 |
In Factory |
: |
3000 |
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In Branch: |
: |
- |
Total
|
: |
3041 |
||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Mr. Md. Mustafizur
Rahman |
400 |
|
Mr. Mujibur Rahman |
300 |
|
Mr. Tarequr Rahman |
300 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Md. Mustafizur
Rahman |
Chairman |
|
Mr. Mujibur Rahman |
Managing Director |
|
Mr. Tarequr Rahman |
Director |
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|
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MANAGEMENT
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||
|
Name |
: |
Mr. Riten Das |
|
Job Description |
: |
HR Manager
Coordinator |
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Nationality |
: |
- |
|
Email address |
: |
- |
|
Other details |
: |
88-01755545598 |
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Nature
of Activity : |
Manufacturer |
Ö |
Trader |
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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: |
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Products |
: |
Jackets. |
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Production
Capacity |
: |
N/A |
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Last Year Production |
: |
N/A |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
|
Others |
|
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|||
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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
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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 |
: |
China, India. |
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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 |
: |
Tk. 10 Million |
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||||||
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Paid-up Capital |
: |
Tk. 1, 00,000 |
No. of Shares |
: |
1000 |
Share Value |
: |
Tk.100.00Each |
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Main Assets |
: |
Tk. |
|
||||||
FINANCIAL STATEMENT- DETAILED
|
|
The subject company
don’t submit update financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
||
|
Sister Concerns |
: |
Chittagong Denim
Mills Ltd BM Container Depot
Ltd. Bm Energy (Bd) Ltd Apparel Promoters
Limited. Calm Denims Shehan Specialized
Textile Mill Ltd Nafs Fashion
Limited. Meshu Apparels Ltd.
Dime Fashion (Pvt)
Ltd City Homes
Properties Ltd. Shoishob Fashion
Ltd. Smart Jeans Limited R. B. Industries
Ltd. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Nil |
BANKING
|
|
|
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Bank Name |
: |
Shajalal Islami
Bank Ltd.
|
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Bank Address |
: |
Jubilee Road Branch,
Haque Tower (1st
floor), 610/11 Jubilee Road, Chittagong Phone:
031-2853151-2 Fax: 031-2853153 |
|
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Bank Name |
: |
Dhaka Bank Ltd. |
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Bank Address |
: |
Jubilee Road
Branch, 183 Jubilee Road,
Chittagong Tel: 88-031-630186,
630183-5 Fax: 88-031-630187 E-mail:
jubilee@dhakabank.com.bd |
|
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
|
|
The subject is a
private limited company engaged in hundred percent oriented Ready-made garments.
It was situated at. The factory situated at Plot# 13, Road# 5, Sector# 1/A,
CEPZ, Chittagong, Bangladesh. They get good support from their buyers. Their
financial solvent and good at their business commitment, it is reported. Mr. Md. Mujibur Rahman,
the managing director of the company. He is very experienced businessman in
this line of trade. The company is ok
for normal business engagements. |
GENERAL COMMENTS
|
|
Repeated attempts to
obtain and verify information from SC were unsuccessful as they declined all
information citing confidentiality. Please note that our credit rating is
based on information gathered from external sources as well as information
obtained from past interviews. |
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
UK Pound |
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.84.62 |
INFORMATION DETAILS
|
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.