MIRA INFORM REPORT

Report No. :	352486
Report Date :	08.12.2015

IDENTIFICATION DETAILS

Name :	REGENT TEXTILE MILLS LTD.
Registered Office :	HG Tower, 1182 Jubilee Road, Chittagong
Country :	Bangladesh
Financials (as on) :	31.12.2013
Date of Incorporation :	30.11.1994
Com. Reg. No.:	CH-1780
Legal Form :	Public Listed Company
Line of Business :	Manufacturer, Distributor, Exporter and Importer of Woven Fabrics, Home Furnishing Items.
No. of Employees :	1995

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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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, accounted for more than 80% of total exports and surpassed $18 billion in 2014. 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 $14 billion and 8% of GDP in 2014 - are the largest contributors to Bangladesh's current account surplus and rising foreign exchange holdings.

Source : CIA

EXECUTIVE SUMMARY

Comments	:	The subject company changed their address of Central Plaza, 2nd Floor, 659 O R Nizam Road, 4000 Chittagong Bangladesh
IDENTIFICATION DETAILS
Correct company Name	:		Regent Textile Mills Ltd.
Head Office	:		HG Tower , 1182 Jubilee Road ,Chittagong, Bangladesh
Tel No	:		88-031-2868204-6, 2868841-3
Fax No	:		88-031-2868207-8
E-mail	:		rtml@regenttex.com, cs@regenttex.com
Website	:		www.regenttex.com
Date/ Year of Incorporation	:		30.11.1994
Incorporation No.	:		CH-1780
TIN Certificate	:		682886648942
VAT Certificate	:		24151001808
Import Registration Certificate No	:		BA-112881
Export Registration Certificate No	:		RA-27754
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/ (Loss)
31^st December, 2012	BDT 1,348,903,633	BDT 2,708,810,005	BDT 123,174,562
31st December, 2013	BDT 1,722,567,233	BDT 3,375,417,382	BDT 175,717,650
Comments	Recently SC’s published annual report which we attached
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. M.R.H. Sikder
Designation	:	Company Secretary
Contract No	:	N/A

Locations Details
Operating Address	:	HG Tower , 1182 Jubilee Road ,Chittagong, Bangladesh
Tel No	:	88-031-2868204-7, 2868841-3
Fax No	:	88-031-2868208
E-mail	:	rtml@regenttex.com
Website	:	www.habibgroupbd.com

Location :

: Owned

Ö

Rented

Leased

Area

4500

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	:	East Kalurghat, Charkhidirpur, Bandar Chittagong, Bangladesh.
Tel No	:	88-031-671170, 671439
Fax No	:	88-031-671000

Location :

Owned

Ö

Rented

Leased

Area

604.66

Decimal

Commercial officer:
Address	:		Siaam Tower (Level # 7), Plot # 15, Road # 2, Sector # 3, Uttara Model Town, Dhaka-1230, Bangladesh.
Tel No	:		Nil
Fax No	:		Nil
Branches:
Address		:		Rang Arcade (2^nd Floor), Plot # 10 A, House # 153/A, Gulshan Avenue, Gulshan-2, Dhaka-1212, Bangladesh.
Tel No		:		88-02-8835719, 9883744
Fax No		:		Nil

Employee:
No. of Employees	In Office	:	361	In Factory	:	1634
	In Branch:	:		Total	:	1995
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Mr. Md. Yakub Ali	13,263,156
Mr. Md. Yasin Ali	13,333,380
Mrs. Anjumanara Begum	3,556,848
Mrs. Amina Mahabub	8,333,256
Mrs. Salma Yasin	3,486,636
Mr. Mashruf Habib	3,180,000
Mr. Tanvir Habib	5,833,356
Mrs. Tanima Mahabub	2,916,684
Ms. Sarfinaz Mahabub	2,916,684
Mr. Salman Habib	3,180,000
General Public	50000000

DIRECTORS

Name	Designation
Mr. Md. Yakub Ali	Chairman
Mr. Salman Habib	Managing Director
Mr. Mashruf Habib	Director
Mr. Md. Yasin Ali	Director
Mr. Tanvir Habib	Director
Prof. Syed Ahsanul Alam	Independent Director
Mr. Md. Jabed Iqbal	Independent Director

MANAGEMENT

Name	:	Mr. Anjan Kumar Bhattacharyya
Job Description	:	Chief Financial Officer
Nationality	:	Bangladeshi.
Email address	:	anjan.rtml@regenttex.com
Other details	:	N/A

Name	:	Mr. Md. Anwar Sadat Siddiqi
Job Description	:	G.M (Admin, HR & Compliance)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Sawpan Kumar Sarkar
Job Description	:	Assistant General Manager (Commercial)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Zahid Uddin Ahmad Chowdhury
Job Description	:	Head of SCM
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Ö	Dyeing	Ö	Printing	Ö	Distributor	Ö
	Exporter	Ö	Importer	Ö	Services		Others

Range of Products :
Products	:	Woven Fabrics, Home Furnishing Items
Production Capacity	:	Weaving : 12 Million Meters per year Dyeing & Printing : 14 Million Meters 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		Cash	Ö	Others
	Credit :	Ö	30 days		60 days	90 days	days

DETAILED DATA

Trade Reference & Related Parties	:	Overseas Clients			:	Lidl Siplec. Bonfrix Wall Mart Heimtex AB Princess Groppen AS New wave Group SA Red Cats Asia Limited,	Local Clients	:	Local Garments
		Overseas Suppliers			:	N/A	Local Suppliers	:	N/A
Trade Markets	:	Exports			:	Europe
		Imports			:	China, India
Brand Name			:	N/A
Certified			:	N/A
Auditors			:	Hoda Vasi Chowdhury & Co Chartered Accountants
Operation Status			:	Active
Member			:	Bangladesh Textile Mills Association

CAPITAL STRUCTURE

Authorized Capital	:	BDT 1500 Million
Paid-up Capital	:	BDT 1100000000	No. of Shares	: 110000000	Share Value	:	BDT10.00Each
Main Assets	:

FINANCIAL STATEMENT- DETAILED

Balance Sheet :
	Currency	BDT
	Denomination	: 1
	Financial Year Ending	:July,31~June,30

Income Statement :
	Currency	:BDT
	Denomination	: 1
	Financial Year Ending	:July,31~June,30

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns	:	Habib Salt Regent Power Securities Ltd Ali Fashion Ltd. HG Aviation Ltd. Habib Steels Ltd. Regent Power Ltd. Diamond Pack Ltd. Regent Fabrics Ltd. Noor Garments Ltd. Legacy Fashion Ltd. ANZ Properties Ltd. Siam’s Superior Ltd. Regent Weaving Ltd. Valiant Fashions Ltd. Habib Steels Limited Valiant Garments Ltd. DCL Auto Bricks Ltd. Anowara Fashion Ltd. Anowara Apparels Ltd. Mudy‟s navigation Ltd. Maam Textile Mills Ltd. Union Cement Mills Ltd. Anowara Paper Mills Ltd. Valiant Fashion Wear Ltd. Diamond Cement Limited Regent Spinning Mills Ltd. MTS Re-Rolling Mills Ltd. Regent Energy & Power Ltd. Union Fertilizer Complex Ltd. Regent Energy and Power Ltd. H G Aviation (Regent Airways) Tariq‑Adib Heimtex Mills Ltd. Habib Shares and Securities Ltd Habib Printers & Publishers Ltd. Southern Medical College and Hospital Ltd. Bangladesh Fertilizer & Agro Chemicals Ltd.
Subsidiary	:	N/A
Name of The Group	:	Habib Group

BANKING

Bank Name	:	Sonali Bank Limited
Bank Address	:	Agrabad Corporate Branch Sheik Mujib Road, Chittagong, Bangladesh Tel: 88-031-724446,716360, 721314
Bank Name	:	Arab Bangladesh Bank Ltd.
Bank Address	:

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 their Head office which is situated at HG Tower, 1182 Jubilee Road, Chittagong, Bangladesh. It is situated at commercial area & their office is well decorated by modern furniture.

GENERAL COMMENTS

The subject company is engaged in Manufacturer, Exporter, Dyeing, and Printing & Distributors. It is reputed company in this line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.63
UK Pound	1	Rs.100.65
Euro	1	Rs.72.40
BDT	1	Rs.0.86

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	NIT

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%)

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