|
Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SINHA KNIT INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
Court de la ACME, 1/4 Kallayanpur, Mirpur Road, Dhaka-1207 |
|
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Country : |
Bangladesh |
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Date of Incorporation : |
25.10.2004 |
|
|
|
|
Com. Reg. No.: |
C-56038 |
|
|
|
|
Legal Form : |
Private Company |
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|
|
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LINE OF BUSINESS : |
MANUFACTURER
AND EXPORTER OF SWEATER, PULLOVERS, CARDIGANS |
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|
|
|
No. of Employees : |
5000 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
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IDENTIFICATION DETAILS |
||
|
|
||
|
Correct company Name |
: |
SINHA KNIT INDUSTRIES LIMITED |
|
Head Office |
: |
Court de la ACME, 1/4 Kallayanpur, Mirpur Road, Dhaka-1207, Bangladesh. |
|
Tel No |
: |
88-02-9004194-6 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
dgm.acccom@sinhafwl.com, |
|
Website |
: |
|
|
Date/ Year of Incorporation |
: |
25.10.2004 |
|
Incorporation No. |
: |
C-56038 |
|
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) |
|
Year |
Turnover/
Sales |
Assets |
Income |
|
July’ 11~June’ 12 |
Tk. 445 Million |
Tk. 1423.25 Million |
Tk. 11.73 Million |
|
July’ 12~June’ 13 |
Tk. 482 Million |
Tk. 1482.48 Million |
Tk. 16.40 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 |
|
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Information Parted By |
||
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Name |
: |
Mr. Arifur Rahman |
|
Designation |
: |
Deputy General Manger |
|
Contract No |
: |
- |
|
Locations Details |
||
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||
|
Operating Address |
: |
Court de la ACME, 1/4 Kallayanpur, Mirpur Road, Dhaka-1207, Bangladesh. |
|
Tel No |
: |
88-02-9004194-6 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
dgm.acccom@sinhafwl.com, commercial@sinhafwl.com |
|
Website |
: |
www.sinhafwl.com |
|
Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
4500 |
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 |
: |
Chamurkhan, Uttarkhan, Uttara, Dhaka-1230,
Bangladesh |
|
Tel No |
: |
88-02-8962554, 8962541, |
|
Fax No |
: |
88-02-8962530 |
|
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
85000 |
Sq. ft. |
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Corporate Office: |
||
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Address |
: |
House # 3, Road # 6, Sector # 4, Uttara,
Dhaka-1230, Bangladesh. |
|
Tel No |
: |
88-01934106145 |
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Fax No |
: |
Nil |
|
Employee: |
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|||||||
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|||||||
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No. of
Employees |
In Office |
: |
100 |
In Factory |
: |
4900 |
||
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In Branch: |
: |
- |
Total |
: |
5000 |
|||
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Details: |
|
|
|
|||||
|
Names of Shareholders |
No. of Share |
|
Mr. Nasir-Ur-Rahman Sinha |
24000 |
|
Mr. Tanveer Sinha |
20000 |
|
Ms. Tasneem Sinha |
34000 |
|
Mrs. Jahanara Mizan Sinh |
10000 |
|
Mr. Mamun-ar-Rashid |
7500 |
|
Mrs. Saleka Mahmood |
2500 |
|
Mr. Tahmeen Rahman |
2000 |
|
Name |
Designation |
|
Ms. Tasneem Sinha- |
Chairman |
|
Mr. Tanveer Sinha |
Managing Director |
|
Mr. Mizinur Rahman Sinha |
Director |
|
Mrs. Jahanara Mizan Sinha |
Director |
|
Mrs. Saleka Mahmood |
Director |
|
Mr. Tahmeen Rahman- Director |
Director |
|
Mr. Mamun-ar-Rashid- Director |
Director |
|
Name |
: |
Mr. Arifur Rahman |
|
Job Description |
: |
Deputy General Manger |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Nazmul Hossain |
|
Job Description |
: |
Commercial Manager. |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01711001587, 01934106145 |
|
Nature of
Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
|
Services |
|
Others |
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Range of
Products: |
||
|
|
||
|
Products |
: |
Sweater, pullovers, Cardigans |
|
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 |
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
Vegotex International-Belgium United Fashion -Belgium Wal-Mart-Canada
Samino-France
Somotex
-France Wal-Mart -Germany Kik Textilien-Germany Fashion International -Germany Weka -Germany Trendy Looks -Germany Norportex -Germany Sabor R.S.L. -Italy Casual Garments S.L. Ltd -Spain Elitex Asia -Spain, Mexico Liwe Espanola -Spain Manufacturers Aguado S.L.
-Spain New Caro -Spain D.A.C Clothing -UK Daltral International Limited
-UK Memo Fashions Ltd-UK Naughty Clothing -UK New Look-UK Tom Hagan -UK Geoferry Beenee -USA Donnkenny -USA Jancko -USA |
Local Clients |
: |
N/A |
|
||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
||||
|
Trade Markets |
: |
Exports |
: |
N/A\\USA, Europe |
|
|||||
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Imports |
: |
Hong- Kong, India, Pakistan, China |
|
|||||||
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|
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|||||||||
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Brand Name |
: |
N/A |
||||||||
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Certified |
: |
N/A |
||||||||
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Auditors |
: |
N/A |
||||||||
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Operation Status |
: |
Active. |
||||||||
|
Member |
: |
Bangladesh Garments
Manufacturer & Exporters Association |
||||||||
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Authorized
Capital |
: |
Tk. 10 Crore |
|
||||||
|
Paid-up
Capital |
: |
Tk. 1,00,00,000 |
No. of Shares |
: |
1,00,000 |
Share
Value |
: |
Tk.100.00Each |
|
|
Main
Assets |
: |
Tk. 1482.48 Million |
|
||||||
|
The subject company don’t submit update full financial figure to local
registry office. |
|
Sister Concerns |
: |
The Acme Laboratories Limited Acme Distribution Ltd. Acme Consumer Products Ltd. Acme Beverage Ltd. Mars Air Ltd. Ambe Cleaning Ltd Acme Specialized Pharmaceuticals ltd. The Acme Agro & Beverages Ltd The Acme IT Ltd Sinha Printers Ltd. Acme Overseas Trading Ltd Mars Aviation Ltd Mars Universal Ltd Sinha Printers The Aacmonio International Pvt. Ltd Kalyar Packaging Ltd Sinha Fabrics Ltd Sinha Wool Wears Ltd Kalyar Replica Ltd |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
ACME Group |
|
Bank Name |
: |
Social Islami Bank Ltd, |
|
Bank Address |
: |
Uttara Branch. Uttara, Dhaka, Bangladesh. Swift Code: Soivbddhctp Bank - 0211330008739 |
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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 |
Our representative visited the subject company Head Office which is situated
at Court de la ACME, 1/4 Kallayanpur, Mirpur Road, Dhaka-1207, Bangladesh. It
is situated at commercial area most modern decorated office building.
Based on the financial statements, SC’s financial
performance appears to be average.
SC has
been in its line of business for about 10 years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.