MIRA INFORM REPORT

 

 

Report Date :

10.09.2014

 

IDENTIFICATION DETAILS

 

Name :

EPYLLION FABRICS LIMITED

 

 

Registered Office :

Ninakabbo (Level-12~13), 227/A Tejgaon-Gulshan Link Road,  Dhaka-1208,

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

15.09.2005

 

 

Com. Reg. No.:

C-59196

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Manufacturer & Exporter of Single Jersey, Rib, Double Jersey, Fleece, Interlock, PK Polo, Pikue

 

 

No. of Employees

4000

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

Payment Behaviour :

Regular

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)

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

 

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

 

 

 

Company name and address

 

Correct company Name

:

EPYLLION FABRICS LIMITED

Head Office

:

Ninakabbo (Level-12~13), 227/A Tejgaon-Gulshan Link Road,

Dhaka-1208, Bangladesh.

Tel No

:

88-02-9840223

Fax No

:

88-02-9855293

E-mail

:

info@epylliongroup.com

junaid@epylliongroup.com                                                                                  

Website

:

www.epylliongroup.com

Date/ Year of Incorporation

:

15.09.2005

Incorporation No.

:

C-59196

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’2011~June’2012

Tk. 1550.00 Million

Tk. 21 Million

Tk. 20.5 Million

July’2012~June’2013

Tk. 1631.69 Million

Tk. 24.73 Million

Tk. 23.10 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

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Ibrahim Khalil

Designation

:

Assistant Manager of HR & Admin

Contract No

:

88-01730051806

 

                                                               Locations Details

 

Operating Address

:

Ninakabbo (Level-12~13), 227/A Tejgaon-Gulshan Link Road,

Dhaka-1208, Bangladesh.

Tel No

:

88-02 9840223

Fax No

:

88-02-9855293

E-mail

:

info@epylliongroup.com

junaid@epylliongroup.com                                                                                   

Website

:

www.epylliongroup.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

3200

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

 

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Jangalipara (Banglabazar), Bhawal Mirzapur, Gazipur Sadar, Gazipur, Bangladesh.

Tel No

:

88-02-9006028, 9006747, 9013897

Fax No

:

88-02-9016994

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

1029.5

Decimals

 

Branches-1:

 

 

 

 

 

Address

:

Plot# I/6, Road # 06, Section# 07, Mirpur I/A, Mirpur, Dhaka-1216, Bangladesh.

Tel No

:

88-02-9006747, 9016994, 8033930, 9001397, 8033462, 8057766

Fax No

:

88-02-900 7978

 

Branches-2:

 

 

 

 

 

Address

:

Plot # M/2-1, Road # 7, Section # 7, Mirpur I/A, Mirpur, Dhaka-1216, Bangladesh.

Tel No

:

88-02-900 6028

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

75

In Factory

:

3925

In Branch:

:

-

Total

:

4000

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Reaz Udding Al-Mamoon

                                 1300

Mr. Md. Junaid Abu SalayDmusa

                                   500

Mrs. Kishwar Jahan

                                   200

Dekko knitwears Ltd.

                               10000

 

 

DIRECTORS

 

Name

Designation

Mr. Reaz Udding Al-Mamoon

Managing Director

Mr. Md. Junaid Abu SalayDmusa

Director

Mrs. Kishwar Jahan

Director

 

 

MANAGEMENT

 

Name

:

Mr. Ibrahim Khalil

Job Description

:

Assistant Manager of HR & Admin

Nationality

:

Bangladeshi

Email address

:

-

Other details

:

88-01730051806

 

 

 

Name

:

Mr. Moin Khan

Job Description

:

Assistant Manager of HR

Nationality

:

Bangladeshi

Email address

:

-

Other details

:

-

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Knitting

Ö

Dyeing

Ö

Finishing

Ö

 

 

 

Exporter

Ö`

Importer

 

Services

 

Others

 

 

Range of Products:

 

Products

:

Single Jersey, Rib, Double Jersey, Fleece, Interlock, PK Polo, Pikue.

Production Capacity

:

1,20,000 Doz per year.

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

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

 

DETAILED DATA

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

K-Mart, Wal Mart, Kappa, Mascot, Zara, H&M, C&A, JC Penny

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

Europe, USA.

 

Imports

:

China, India, Pakistan

 

 

 

Brand Name

:

Nil

Certified

:

Organic Exchange

Oeko-Tex

Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Garments Manufacturer & Exporters Association, Dhaka

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

Tk. 20 Crore

 

Paid-up Capital

:

Tk.12000000

    No. of Shares

:

12000

Share Value

:

Tk.1000.00Each

Main Assets

:

Tk. 21 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

The subject company don’t submit update financial figure to local registry office.

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Epyllion Knitex Limited

Epyllion Style Ltd.

Epyllion Knitwears Ltd. Unit 1 & 2

Mirabella Dresses Ltd.

Dekko Knitwears Ltd. Unit 1 & 2

Dazzling Dresses Ltd 

Epyllion Ltd.

Epyllion Washing Ltd.

Nina Holdings Ltd.

Epyllion Testing Lab Limited

Subsidiary

:

N/A

Name of  The Group

:

Epyllion Group

 

 

BANKING

 

Bank Name  

:

Eastern Bank Ltd.  

Bank Address

:

Principal Branch

Jiban Bima Bhaban

10, Dilkusha C/A

Dhaka – 1000

Phone: 02-9556360

 

Bank Name  

:

Janata Bank ltd.

Bank Address

:

Motijheel Branch,

48, Motijheel Commercial Area, Dhaka-1000

PABX : 88-02-9566094, 9565003, 9566089, 9560219, 9564375

Phone: 88-02-9558509, 7168883, 9571676, 9554654

Fax:n88-02-7113233 

 

 

Bank Name  

:

Dhaka Bank Ltd.

Bank Address

:

Local Office,

Adamjee Court (GF), 115-120 Motijheel C/A, Dhaka-1000

Tel: 8802 9556587, 9556592-3

Fax : 8802 9556583

Email : local@dhakabank.com.bd

 

Bank Name  

:

IFIC Bank Ltd.

Bank Address

:

Motijheel Branch

Islam Chamber 125/A, Motijheel C/A

Dhaka-1000

Tel : 9565215-8, 7111934

7111923-26

Mobile:018-250117, 018-219406

Fax: : 880-2-9566352

Email: ificmoti@bol-online.com

 

 

ADVERSE DATA MONITORING

 

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 at Ninakabbo (Level-12~13), 227/A Tejgaon-Gulshan Link Road, Dhaka-1208, Bangladesh. The subject company Assistant Manager of HR & Admin Mr. Ibrahim Khalil given us all information. Is situated at Industrial area which is a well decorated modern office.

 

 

GENERAL COMMENTS

 

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.

 

Adopted Abbreviations:

NA- Not Available

 TK- Bangladeshi Taka

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.42

UK Pound

1

Rs.97.24

Euro

1

Rs.77.92

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIS

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.