MIRA INFORM REPORT

 

 

Report Date :

29.09.2014

 

IDENTIFICATION DETAILS

 

Name :

ANTIM KNITTING DYEING AND FINISHING LTD.

 

 

Registered Office :

39, Dilkusha (4th floor), Motijheel, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

09.09.1996

 

 

Com. Reg. No.:

C-31332

 

 

Legal Form :

Public (but not listed) 

 

 

Line of Business :

Manufacturer & Exporter of Basic T-Shirts, Tank top, Base Ball, Handly Shirt,   Ladies Dress, and Undergarments        

 

 

No. of Employees :

4344

 

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

A2

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

 

 

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

ANTIM KNITTING DYEING AND FINISHING LTD.

Head Office

:

39, Dilkusha (4th floor), Motijheel, Dhaka-1000, Bangladesh.

Tel No

:

88-01678039902, 01678039911

Fax No

:

Nil

E-mail

:

office@anitmbd.com,

antim@antimbd.com,

info@antimbd.com

shafique@antimbd.com

Website

:

www.anitimbd.com

Date/ Year of Incorporation

:

09.09.1996

Incorporation No.

:

C-31332

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’ 13~June’ 14

Tk. 3547 Million

Tk. 57.25 Million

Tk. 123.30 Million

July’ 12~June’ 13

Tk. 3450 Million

Tk. 50 Million

Tk. 115 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. Md. Maroof.

Designation

:

Commercial Officer.

Contract No

:

88-0167803905

 

                                                               Locations Details

 

Operating Address

:

39, Dilkusha (4th floor), Motijheel, Dhaka-1000, Bangladesh.

Tel No

:

88-01678039902, 01678039911

E-mail

:

Nil

Fax No

:

office@anitmbd.com,

antim@antimbd.com,

info@antimbd.com

shafique@antimbd.com

Website

:

www.anitimbd.com

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

31500

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

:

Barpa, Rupshi, Rupgonj, Narayanganj, Bangladesh.

Tel No

:

88-01678039900

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

344950

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

44

In Factory

:

4300

In Branch:

:

-

Total

:

4344

Details:

 

                    

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Md. Ali Akbar

                                   5100

Mrs. Hosne-Ara-Akbar

                                     900

Mrs. Fazila Khatun

                                   2100

Ms. Aktar Khanam

                                    550

Mir Abdul Karim

                                    450

Mrs. Afroza Begum

                                    450

Mrs. Begum Anwar

                                    450

 

 

DIRECTORS

 

Name

Designation

Mrs. Hosne-Ara Akbar   

                                    Chairman

Mr. Md. Ali Akbar

                            Managing Director

Mrs. Fazila Khatun

                                    Director

Mr. Md. Shaid Raza Tarafder

                                    Director

 

 

MANAGEMENT

 

Name

:

Mr. Md. A.T.M Mustofa.

Job Description

:

General Manager

Nationality

:

Bangladeshi.

Email address

:

Nil

Other details

:

N/A

 

 

 

Name

:

Mr. Md. Shafiqe Ahamad.

Job Description

:

Senior Commercial Manager.

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-07678039902

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

Range of Products:

 

Products

:

 Basic T-Shirts, Tank top, Base Ball, Handly Shirt,   Ladies Dress, and Undergarments        

Production Capacity

:

Garments-100 Thousands Pcs / Day

Dyeing- Cotton/Synthetic – 30 Ton/Day

Knitting-15 Ton / Day

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

:

Wall Mart, Elmau Associates, Terre nova, Aldi, NSI,

Footlocker, Calliope, Shemack, Unique, Habestreit Jara   Fashion, Anvil, Dollar General, Bonton , etc.

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

Imports

:

China, India, Italy, Pakistan.

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladeshi Knitwear Manufacture & Exporter Association, Dhaka.

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk. 30 Million.

 

Paid-up Capital

:

Tk. 10, 00,000

    No. of Shares

:

10, 000

Share Value

:

Tk.100.00Each

Main Assets

:

Tk. 57.25 Million.

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Antim Knit Composite Ltd.

Subsidiary

:

N/A

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

Social Islami Bank Ltd.

Bank Address

:

Principal Branch,

15, Dilkusha C/A

Dhaka-1000, Bangladesh,

Phone No: 9559241, 9562002.

SWIFT : SOIVBDDHPRN

Website : www.siblbd.com

A/C No. : 0213300057352, 0213300057346

 

Bank Name  

:

Sonali Bank Ltd.

Bank Address

:

B. B. Avenue Corporate Branch

28, B. B. Avenue, Dhaka-1000

Bangladesh

Phone     :  9550284, 9557968 & 7168691

Fax No       : 880-2-9555164

Swift Code : BSONBDDHABBA

E-mail    : sbbba@dhaka.net

A/C No : 00102333009015, 0010233017777

 

Bank Name  

:

United Commercial Bank Ltd

Bank Address

:

Principal Branch

58, Motijheel C/A; Dhaka-1000

Bangladesh

Phone No : 880-2-9561054,9555799,9559744,7169028

Fax No   : 880-2-9568548

Swift Code : Ucblbddhprb

Cd A/C No. : 000111100088583 &  000111100089021

 

 

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 registered address which is situated at 39, Dilkusha (4th floor), Motijheel, Dhaka-1000, Bangladesh. The subject company Commercial Officer Mr. Md. Maroof given us all information. Is situated at commercial 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 17 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.61.57

UK Pound

1

Rs.100.42

Euro

1

Rs.78.45

 

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%)

 

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.