|
Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
A.N. WOVEN BLUK BAG INDUSTRIES LTD. |
|
|
|
|
Registered Office : |
21, New Baily Road, Dhaka-1000 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
08.03.2005 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer and Distributor of Poly Bag, Carton, FIBC Bag |
|
|
|
|
No of Employees : |
152 |
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) |
|
Bangladesh |
B1 |
A2 |
|
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 |
IDENTIFICATION DETAILS
|
||
|
Correct company Name |
: |
A.N. WOVEN BLUK BAG INDUSTRIES LTD. |
|
Head Office |
: |
21, New Baily Road, Dhaka-1000, Bangladesh. |
|
Tel No |
: |
88-02-9333990, 9669452 |
|
Fax No |
: |
88-02-8613552 |
|
E-mail |
: |
procurement@shovongroup.net |
|
Website |
: |
www.shovongroup-bd.com |
|
Date/ Year of Incorporation |
: |
08.03.2005 |
|
Incorporation No. |
: |
C-56280 |
|
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’ 12~June’
13 |
Tk. 238 Million |
Tk. 24.75 Million |
Tk. 11.90 Million |
|
July’ 13~June’
14 |
Tk. 310 Million |
Tk. 28.30 Million |
Tk. 15.50 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 |
: |
Mrs. Rebaka
Sultana |
|
Designation |
: |
Officer (Export) |
|
Contract No |
: |
- |
Locations Details
|
||
|
Operating Address |
: |
21, New Baily Road, Dhaka-1000, Bangladesh. |
|
Tel No |
: |
88-02-9333990, 9669452 |
|
Fax No |
: |
88-02-8613552 |
|
E-mail |
: |
procurement@shovongroup.net |
|
Website |
: |
www.shovongroup-bd.com |
|
Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
3400 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
|
|
Semi-commercial
office Bldg. |
|
|
|
Retail shop |
|
|
Industrial Park |
|
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|
|
Business Center |
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|
Home Office |
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Residential Bldg. |
Ö |
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Factory: |
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|
|
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Address |
: |
Gribordi, Sonargaon, Narayangonj,
Bangladesh. |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
150000 |
Sq. ft. |
|
Corporate Address: |
||
|
|
|
|
|
Address |
: |
Green Akshay Plaza (4th Floor), House#59,
Road#2/A, Dhanmondi, Dhaka-1209, Bangladesh. |
|
Tel No |
: |
88-02-8619733, 9661784, 9663349, 9669452 |
|
Fax No |
: |
88-02-8613552 |
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Branches: |
|
|
|
|
|
|
|
Address |
: |
City Heart (13th Floor, Suit # 14/5), 67,
Nayapalton, Dhaka-1000, Bangladesh. |
|
Tel No |
: |
88-02-9347657, 9355643 |
|
Fax No |
: |
88-02-933666767 |
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Employee: |
|
|||||||
|
|
|
|||||||
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No. of Employees |
In Office |
: |
12 |
In Factory |
: |
140 |
||
|
In Branch: |
: |
- |
Total |
: |
152 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Mrs. Fauzia Haque |
30000 |
|
Mr. Md. Ziaul Haque |
30000 |
|
Mr. M. Shamsul Haque |
40000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. M. Shamsul Haque |
Managing Director |
|
Mrs. Fauzia Haque |
Director |
|
Mr. Md. Ziaul Haque |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mrs. Rebaka
Sultana |
|
Job Description |
: |
Officer (Export) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Jahirul Islam |
|
Job Description |
: |
Adm. Officer |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
|
Services |
|
Others |
|
|
Range of
Products: |
||
|
|
||
|
Products |
: |
Poly Bag, Carton, FIBC bag |
|
Production Capacity |
: |
450 MT / Month |
|
Last Year
Production |
: |
Do |
|
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 |
DETAILED DATA
|
|
|||||||||
|
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 |
|
|||||||
|
|
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|||||||||
|
Brand Name |
: |
N/A |
||||||||
|
Certified |
: |
N/A |
||||||||
|
Auditors |
: |
N/A |
||||||||
|
Operation Status |
: |
Active |
||||||||
|
Member |
: |
Dhaka Chamber of Commerce & Industry,
Dhaka |
||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
Tk. 30 Million |
|
||||||
|
Paid-up Capital |
: |
Tk. 1, 00,00,000 |
No. of Shares |
: |
1, 00,000 |
Share
Value |
: |
Tk.100.00Each |
|
|
Main Assets |
: |
Tk. 28.30 Million |
|
||||||
FINANCIAL STATEMENT- DETAILED
|
|
The subject company don’t submit update full
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
Lee Tsai Steel Ltd AMZ print House Shovon Enterprise Ltd. Shovon Dyeing Limited Taufiq Sweater Limited Shovon Ladels Limited Iqbal Texware Limited Shovon Zipper Limited Shovon Knitting Limited Shovon Knit Wear limited Hsing Lung Industries Ltd Shovon Embroidery Limited Shovon Yarn Dyeing Limited Shovon Organic Fertilizer Ltd Shovon Woven Bag Mfg. Co. Ltd. Shovon Poly Bag Industries Ltd. Shovon Packaging & Accessories Ltd. Shovon Paper Shopping Bag Ind. Ltd. Shovon Silk & Knitting Mills (Pvt) Ltd |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
Shovon Group |
BANKING
|
|
|
|
Bank Name
|
: |
Agrani Bank Ltd. |
|
Bank Address |
: |
Amin Court Corp. Branch 62/63, Motijheel C/A Motijheel, Dhaka-1000 Tel: 88-02-9572045 Email: br1242@bangla.net |
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 21, New Baily Road, Dhaka-1000, Bangladesh.. The subject company
Officer (Export) Mrs. Rebaka Sultana gave us all information. Is situated at
Residential area which is a well decorated modern office. |
GENERAL COMMENTS
|
|
Based on the
financial statements, SC’s financial performance appears to be average. SC
has been in its line of business for about 8 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.60.81 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.