|
Report Date : |
06.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
NASSA TAIPEI DENIMS LIMITED |
|
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|
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Registered Office : |
238, Tejgaon Industrial Area, |
|
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Country : |
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|
|
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Date of Incorporation : |
15.07.2003 |
|
|
|
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Com. Reg. No.: |
C-49874 |
|
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|
|
Legal Form : |
Private Co |
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|
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Line of Business : |
Manufacturer and Exporter of Woven & Woven Dyeing. |
|
|
|
|
No. of Employees : |
750 |
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 |
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|
|
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bangladesh |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
|
IDENTIFICATION DETAILS |
||
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|
||
|
Correct company Name |
: |
Nassa Taipei Denims Limited |
|
Head Office |
: |
238, Tejgaon Industrial Area, Gulshan Link Road,
Dhaka-1208, Bangladesh. |
|
Tel No |
: |
88-02-8819126, 8832400-7, 8819127,
8826369, 9863191 |
|
Fax No |
: |
88-02-8823761, 8833162 |
|
E-mail |
: |
nassa@nassagroup.org denim@nassagroup.org |
|
Website |
: |
www.nassagroup.org |
|
Date/ Year of Incorporation |
: |
15.07.2003 |
|
Incorporation No. |
: |
C-49874 |
|
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. 220 Million |
Tk. 24.25 Million |
Tk. 10.25 Million |
|
July’
12~June’ 13 |
Tk. 262 Million |
Tk. 26.14 Million |
Tk. 14.37 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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|
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Name |
: |
Mr.
Masud Dewan |
|
Designation |
: |
Deputy
General Manager (Marketing) |
|
Contract No |
: |
- |
|
Locations Details |
||
|
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||
|
Operating Address |
: |
238, Tejgaon Industrial Area, Gulshan Link Road,
Dhaka-1208, Bangladesh. |
|
Tel No |
: |
88-02-8819126, 8832400-7, 8819127,
8826369, 9863191 |
|
Fax No |
: |
88-02-8823761, 8833162 |
|
E-mail |
: |
nassa@nassagroup.org denim@nassagroup.org |
|
Website |
: |
www.nassagroup.org |
|
Location : |
:
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
3400 |
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 |
Ö |
|
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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# 4-11 & 22-29, Export
Processing Zone, Comilla, Bangladesh. |
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Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
24000 |
Sq. ft. |
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Branches: |
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|
|
|
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Address |
: |
57, Shahid Suhrawardi Road,
Baridara, Dhaka-1212, Bangladesh.
|
|
Tel No |
: |
880-2-988-6629 |
|
Fax No |
: |
880-2-9893051 |
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Employee: |
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|||||||
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|||||||
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No. of Employees |
In Office |
: |
20 |
In Factory |
: |
730 |
||
|
In Branch: |
: |
- |
Total
|
: |
750 |
|||
|
Details: |
|
|
|
|||||
|
Names of Shareholders |
No. of Share |
|
Mrs. Nasreen Islam |
243000 |
|
Mr. Mohammad Abdullah |
253500 |
|
Mr. Md. Altaf Hossain |
190000 |
|
Sze Tak Sang |
50000 |
|
Mr. Md. Nazrul Islam Mazumder |
263500 |
|
Name |
Designation |
|
Mr. Md. Nazrul Islam Mazumder |
Chairman |
|
Mr. Mohammad Abdullah |
Managing Director |
|
Mrs. Nasreen Islam |
Director |
|
Mr. Md. Altaf Hossain |
Director |
|
Name |
: |
Mr.
Masud Dewan |
|
Job Description |
: |
Deputy
General Manager (Marketing) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Imran |
|
Job Description |
: |
General Manager (Commercial) |
|
Nationality |
: |
Bangladeshi |
|
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
|
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Others |
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Range
of Products: |
||
|
|
||
|
Products |
: |
Woven & Woven Dyeing. |
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Production Capacity |
: |
3600000 Mtr. |
|
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 |
|
|
|||
|
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Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
|
Trade
Reference & Related Parties |
: |
Overseas Clients |
: |
Marks and Spencer. Belgium, Germany, Switzerland and Taiwan. |
Local Clients |
: |
N/A |
|
|||
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
|||||
|
Trade
Markets |
: |
Exports |
: |
N/A |
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||||||
|
Imports |
: |
China, India |
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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 Textile Mills
Association, Dhaka |
|||||||||
|
Authorized
Capital |
: |
Tk. 10 Crore |
|
||||||
|
Paid-up
Capital |
: |
Tk. 10, 00,00,000 |
No. of Shares |
: |
10, 00,000 |
Share Value |
: |
Tk.100.00Each |
|
|
Main
Assets |
: |
Tk. 26.14 Million |
|
||||||
|
The subject company don’t submit
update full financial figure to local registry office. |
|
Sister Concerns |
: |
Nassa Knit Ltd Nassa Apparels Ltd.-Unit-1 Nassa Apparels-Unit-2 Nassa Fashion Ltd. Liz Apparels Ltd. Nassa Taipei Spinners Ltd. Starlight Knitwears Ltd. Nassa Hi-Tech Wear Ltd. Nassa Washing Ltd. Nassa Knit Ltd. Nassa Spinning Ltd. Nassa Basics Ltd Nassa Properties Ltd. Nassa Taipei Textile Mills Ltd. Nassa Taipei Denim Ltd. Nassa Garden Ltd. Nassa SG Super Garments ltd. Nassa Global Ltd Toy Woods (Bangladesh) Co. Ltd. Nassa Spinners Ltd. |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
Nassa Group |
|
Bank Name |
: |
Islami
Bank Bangladesh Ltd. |
|
Bank Address |
: |
Local office, 75, Motijheel C/A, Dhaka-1000 Phone: (02) 9571201-2, 9568187,
PABX-9552897 Mobile: Investment #
01711-694317 G B # 01711- 693901-03 Fax: 880-2-9561105, 9561995 Email: ibbl@bttb.net.bd,
ibbllofx@aitlbd.net |
|
|
||
|
Bank Name |
: |
National Bank Limited. |
|
Bank Address |
: |
Kawran Bazar Branch, 7-9 B.T.M.C Bhaban Kawran
Bazar, Dhaka- 1205; Phone: 9660445 |
|
Bank Name |
: |
South East Bank Limited. |
|
Bank Address |
: |
Gulshan Branch, Dhaka. House #82 CES (F), 1, Gulshan
Avenue Dhaka Phone: 9883491, 9883401 - 5,
9883492 Fax: 88 - 02 - 9883495 Tlx: 632478 SBGUL BJ Swift: SEBDBDBHGUL |
|
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 238, Tejgaon Industrial Area, Gulshan Link Road,
Dhaka-1208, Bangladesh. The subject company Deputy General Manager
(Marketing) Mr. Masud Dewan given us all information. Is situated at
Industrial area which is a well decorated modern office. |
|
Subject is mainly engaged in Manufacturer & Exporter
of Readymade Garments. The subject company maintains acceptable business
volume. Based on the financial statements, SC’s financial
performance appears to be average. Having been in operation for several
years, Subject enjoys some recognition and impact in the line. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.