|
Report Date : |
07.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
FAMOUS PRINTING AND PACKAGING LTD. |
|
|
|
|
Registered Office : |
38, |
|
|
|
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Country : |
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|
|
|
Date of Incorporation : |
05.07.2002 |
|
|
|
|
Com. Reg. No.: |
C-45993 |
|
|
|
|
Legal Form : |
Private Co
|
|
|
|
|
Line of Business : |
Manufacturer & Distributor of Poly Pack, Garments Accessories |
|
|
|
|
No. of Employees |
250 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on
international trade and finance - the value of goods and services trade,
including the sizable share of re-exports, is about four times GDP. Hong Kong
has no tariffs on imported goods, and it levies excise duties on only four
commodities, whether imported or produced locally: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong
Kong's open economy left it exposed to the global economic slowdown that began
in 2008. Although increasing integration with China, through trade, tourism,
and financial links, helped it to make an initial recovery more quickly than
many observers anticipated, its continued reliance on foreign trade and
investment leaves it vulnerable to renewed global financial market volatility
or a slowdown in the global economy. The Hong Kong government is promoting the
Special Administrative Region (SAR) as the site for Chinese renminbi (RMB)
internationalization. Hong Kong residents are allowed to establish
RMB-denominated savings accounts; RMB-denominated corporate and Chinese
government bonds have been issued in Hong Kong; and RMB trade settlement is
allowed. The territory far exceeded the RMB conversion quota set by Beijing for
trade settlements in 2010 due to the growth of earnings from exports to the
mainland. RMB deposits grew to roughly 12% of total system deposits in Hong
Kong by the end of 2013. The government is pursuing efforts to introduce
additional use of RMB in Hong Kong financial markets and is seeking to expand
the RMB quota. The mainland has long been Hong Kong's largest trading partner,
accounting for about half of Hong Kong's total trade by value. Hong Kong's
natural resources are limited, and food and raw materials must be imported. As
a result of China's easing of travel restrictions, the number of mainland
tourists to the territory has surged from 4.5 million in 2001 to 34.9 million
in 2012, outnumbering visitors from all other countries combined. Hong Kong has
also established itself as the premier stock market for Chinese firms seeking
to list abroad. In 2012 mainland Chinese companies constituted about 46.6% of
the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4%
of the Exchange's market capitalization. During the past decade, as Hong Kong's
manufacturing industry moved to the mainland, its service industry has grown
rapidly. Credit expansion and tight housing supply conditions have caused Hong
Kong property prices to rise rapidly; consumer prices increased by more than 4%
in 2013. Lower and middle income segments of the population are increasingly
unable to afford adequate housing. Hong Kong continues to link its currency
closely to the US dollar, maintaining an arrangement established in 1983. In
2013, Hong Kong and China signed new agreements under the Closer Economic
Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong
and the mainland. The new measures, effective from January 2014, cover services
and trade facilitation, and will improve access to the mainland's service
sector for Hong Kong-based companies.
|
Source
: CIA |
|
IDENTIFICATION DETAILS |
||
|
|
||
|
Correct company Name |
: |
FAMOUS PRINTING AND PACKAGING LTD. |
|
Head Office |
: |
38, Mitford Road, Dhaka-1100, Bangladesh |
|
Tel No |
: |
88-02-7310366, 7312170, 7316122, 7319200 |
|
Fax No |
: |
88-02-7313729 |
|
E-mail |
: |
nawaz75@citechco.net info@famouspack.com |
|
Website |
: |
Nil |
|
Date/ Year of Incorporation |
: |
05/07/2002 |
|
Incorporation No. |
: |
C-45993 |
|
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. 192 Million |
Tk. 18.75
Million |
Tk. 9.60 Million |
|
July’ 12~June’ 13 |
Tk. 225
Million |
Tk. 23.05 Million |
Tk.11.25
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 |
||
|
|
|
|
|
Name |
: |
Mr. Md. Hafiz |
|
Designation |
: |
Officer (Import) |
|
Contract No |
: |
- |
|
Locations Details |
||
|
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||
|
Operating Address |
: |
38, Mitford Road, Dhaka-1100, Bangladesh |
|
Tel No |
: |
88-02-7310366, 7312170, 7316122, 7319200 |
|
Fax No |
: |
88-02-7313729 |
|
E-mail |
: |
nawaz75@citechco.net info@famouspack.com |
|
Website |
: |
Nil |
|
Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
3400 |
Sq. ft. |
|
Type of Office :
|
: Commercial Office Bldg. |
Ö |
|
Semi-commercial office Bldg. |
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
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Home Office |
|
|
|
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Residential Bldg. |
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|
|
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Factory: |
|
|
|
|
|
|
|
Address |
: |
Plot# 93,Tongi I/A, Gazipur,
Bangladesh |
|
Tel No |
: |
88-02-9817381, 9817395-6, 9810478, 9810478,
9810480-1 |
|
Fax No |
: |
88-02-9817386 |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
80000 |
Sq. ft. |
|
Branches: |
|
|
|
Address |
: |
Nil |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Employee: |
|
|||||||
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|||||||
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No. of
Employees |
In Office |
: |
30 |
In Factory |
: |
220 |
||
|
In Branch: |
: |
- |
Total |
: |
250 |
|||
|
Details: |
|
|
|
|||||
|
Names of Shareholders |
No. of Share |
|
Mr. Farooq |
23,19,000 |
|
Mrs. Sanawar Bano |
1,000 |
|
Mr. Md. Nawaz |
1,000 |
|
Md. Yakub |
1000 |
|
Name |
Designation |
|
Mr. Farooq |
Managing Director |
|
Mrs. Sanawar Bano- |
Director |
|
Name |
: |
Mr. Md. Hafiz |
|
Job Description |
: |
Officer (Import) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Nature of
Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
|
Services |
|
Others |
|
|
Range of
Product: |
||
|
|
||
|
Products |
: |
Poly Pack, Garments Accessories
|
|
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 |
|
Cash |
Ö |
Others |
|
|
|||
|
|
Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
|
||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
||||
|
Trade Markets |
: |
Exports |
: |
N/A |
|
|||||
|
Imports |
: |
China, India |
|
|||||||
|
|
|
|||||||||
|
Brand Name |
: |
Nil |
||||||||
|
Certified |
: |
Nil |
||||||||
|
Auditors |
: |
N/A |
||||||||
|
Operation Status |
: |
Active |
||||||||
|
Member |
: |
Dhaka Chamber of Commerce & I |
||||||||
|
Authorized
Capital |
: |
Tk. 100,00,00,000 |
|
|||||
|
Paid-up
Capital |
: |
Tk. 232200000 |
No. of Shares |
: 2322000 |
Share
Value |
: |
Tk.100.00Each |
|
|
Main
Assets |
: |
23.05 Million |
|
|||||
The subject company don’t submit update financial figure to local
registry office.
|
Sister Concerns |
: |
Famous Iberchem Flavours & Fragrances Ltd., Famous Perfumery Suppliers, Famous General Agencies Ltd., Green Soap And Chemical Company Limited Matcon Ltd. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Famous Group of Companies Limited |
|
Bank Name |
: |
National Credit & commerce Bank
Ltd |
|
Bank Address |
: |
Mitford Branch Paradise Bhaban, 34 Mitford Road (1st
Floor), Dhaka-1000, Bangladesh Email- mitford@nccbank.com.bd |
|
|
||
|
Bank Name |
: |
Brac Bank Ltd |
|
Bank Address |
: |
Mitford Branch Mitford
Road , Dhaka-1100, Bangladesh |
|
Bank Name |
: |
Basic Bank Ltd |
|
Bank Address |
: |
Babubazar Branch Hajee Yusuf Mansion (1st floor) 56 Mitford
Road, Babubazar, Dhaka-1100, Bangladesh Tel: 02-7391335, 7393875 Fax: 02-7341828 E-mail: babubazar@basicbanklimited.com |
|
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 38, Mitford Road, Dhaka-1100, Bangladesh. The subject company
Officer (Import) Mr. Md. Hafiz gave us all information. Is situated at
commercial area which is a well decorated modern office.
Based on the financial statements, SC’s financial performance appears to
be average. SC has been in its line of business for about 12 years. Taking into
account its long-standing history, reputation in the market, as well as its
financial condition, we recommend that credit may proceed in moderate amounts.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
UK Pound |
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SDA |
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.