|
Report Date : |
21.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
REGENT SPINNING MILLS LTD. |
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Registered Office : |
220, Stand Road, Chittagong-4000 |
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Country : |
Bangladesh |
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Date of Incorporation : |
15.11.2006 |
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Com. Reg. No.: |
CH-6069 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer & Exporters of Cotton
Yarns, Woven (Dyed & Printed) Fabrics & Home
Furnishings Items Subject product range includes :- Dyed & Printed
Fabrics · Sheeting · Twill · Canvas · Panama Canvas · Oxford Canvas / Half Panama · Calico\Rib Stop · Bedford Cord · Harringbone Twill · Fine Twill · Flannel · Seer Sucker · Poplin · Percle · Satin Home Textile · Quilt Cover Set · Sheet Set · Curtains · Pelmet · Table linen · Seat pads · Cushion · Apron |
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|
No. of Employees |
210 (30 in Office & 180 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 |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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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||
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||
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Correct
company Name |
: |
Regent Spinning Mills
Ltd. |
|
Head
Office |
: |
220, Stand Road, Chittagong-4000, Bangladesh. |
|
Tel
No |
: |
88- 031-637891, 637898, 2850446, |
|
Fax
No |
: |
880-31-610791,
637893 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/ Year
of Incorporation |
: |
15.11.2006 |
|
Incorporation No. |
: |
CH-6069 |
|
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’ 11~June’ 12 |
Tk. 368 Million |
Tk. 3,037.53
Million |
Tk. 17.45 Million |
|
July’ 12~June’ 13 |
Tk. 395 Million |
Tk. 3, 063.56
Million |
Tk. 28.23 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. Ananda Saha |
|
Designation |
: |
Asst. Manager |
Locations Details
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Operating
Address |
: |
220, Stand Road, Chittagong-4000, Bangladesh. |
|
Tel
No |
: |
88- 031-637891, 637898, 2850446, |
|
Fax
No |
: |
880-31-610791,
637893 |
|
E-mail |
: |
|
|
Website |
: |
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|
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 |
: |
Kalarpool, Potia,
Chittagong, Bangladesh. |
|
Tel
No |
: |
Nil |
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Fax
No |
: |
Nil |
|
Owned |
Ö |
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Rented |
|
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Leased |
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Area |
2.5 |
Acores |
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Branches: |
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Address |
: |
Rangs Arcade,
Plot # 10A, House # 153/A (2nd Floor) Gulshan Avenue, Gulshan-2, Dhaka-1212,
Bangladesh. |
|
Tel
No |
: |
880-2-9883744, 8835719 |
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Fax
No |
: |
880-2-8826437 |
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Employee: |
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No.
of Employees |
In
Office |
: |
30 |
In
Factory |
: |
180 |
|
|
In Branch: |
: |
- |
Total
|
: |
210 |
||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Mr. Md. Yakub Ali |
5000 |
|
Mr. Md. Yasin Ali |
5000 |
|
Mrs. Anjuman Ara
Begum |
5000 |
|
Mrs. Amina Mahabub |
5625 |
|
Mrs. Salma Yasin |
5000 |
|
Maam Textile Mills
Ltd. Represenative by Mr. Yasin Ali |
95045 |
|
Mr. Mashruf Habib |
1000 |
|
Mr. Salman Habib |
1000 |
|
Mr. Tanvir Habib |
2187 |
|
Ms. Tamima Mahabub |
1094 |
|
Ms. Sarfinaz
Mahabub |
1094 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Md. Yasin Ali |
Managing Director |
|
Mr. Md. Yakub Ali |
Director |
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Mrs. Anjuman Ara
Begum |
Director |
|
Mrs. Amina Mahabub |
Director |
|
Mrs. Salma Yasin |
Director |
|
Mr. Mashruf Habib |
Director |
|
Mr. Salman Habib |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Ananda Saha. |
|
Job Description |
: |
Asst. Manager. |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
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|||||||
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Exporter |
Ö |
Importer |
|
Services |
|
Others |
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Range of Products: |
||
|
Products |
: |
Cotton Yarns, Woven (Dyed &
Printed) Fabrics & Home Furnishings Items |
|
|
|
|
|
Product details
|
|
Dyed & Printed
Fabrics · Sheeting · Twill · Canvas · Panama Canvas · Oxford Canvas / Half Panama · Calico\Rib Stop · Bedford Cord · Harringbone Twill · Fine Twill · Flannel · Seer Sucker · Poplin · Percle · Satin Home Textile · Quilt Cover Set · Sheet Set · Curtains · Pelmet · Table linen · Seat pads · Cushion · Apron |
|
Production
Capacity |
: |
26 Tons per day |
|
Last Year Production |
: |
Do. |
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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Trade Reference & Related Parties |
: |
Overseas Clients |
: |
M&S Mode- Holland Yves Dorsey -France Regatta-Canada FW-Canada |
Local Clients |
: |
N/A |
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|||
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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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||||||
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Imports |
: |
China, India,
Thailand |
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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. |
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Member |
: |
Bangladesh Textile Mills Association. |
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CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk. 100 Crore. |
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Paid-up Capital |
: |
Tk. 1, 27,04,500 |
No. of Shares |
: |
1, 27,045 |
Share Value |
: |
Tk.100.00Each |
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Main Assets |
: |
Tk. 3, 063.56
Million |
|
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FINANCIAL STATEMENT- DETAILED
|
|
The subject company
don’t submit update full financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
||
|
Sister Concerns |
: |
Habib Steels
Limited MTS Re-rolling
mills Limited Valiant Garments Ltd.
Valiant Fashions
Ltd. Anowara Fashion
Ltd. Noor Garments Ltd. Legacy Fashions
Ltd. Tariq Adib Heimtex
Mills Ltd. Regent Textile
Mills Ltd Habib Shares and
Securities Ltd. Diamond Cement
Ltd. Regent Power Bangladesh
Fertilizers & Agrochemicals Limited. Anowara Paper Mill Habib Salt Mudys Navigation
Limited |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Habib Group. |
|
Bank Name |
: |
Islami Bank
Bangladesh Ltd.
|
|
Bank Address |
: |
Agrabad Branch, 3, CDA Sheikh Mujib
Road, Agrabad C/A, Chittagong Phone:(031)7162294,813273
Email: ctgzone@islamibankbd.com Mobile:
01711-437410 Fax: (031) 726598 |
|
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 at220, Stand Road,
Chittagong-4000, Bangladesh. Their Asst. Manager Mr. Ananda Saha received us & given us all
information. |
GENERAL COMMENTS
|
|
The subject company is a well-known
reputed company in Bangladesh. Their
products popular to the local customers.
So day by day the subject companies increase their goodwill. |
|
Adopted
Abbreviations: |
|||
|
NA- Not
Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.13 |
|
UK Pound |
1 |
Rs.101.17 |
|
Euro |
1 |
Rs.84.59 |
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.