MIRA INFORM REPORT
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Report No. : |
354307 |
|
Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
AL-HAJ TEXTILE
MILLS LIMITED |
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|
|
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Registered Office : |
66, Dilkusha C/A (4th Floor), Dhaka-1000 |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2015 |
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Date of Incorporation : |
03.03.1961 |
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Com. Reg. No.: |
C-1517 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Manufacturer and Exporter of Raw Cotton |
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No. of Employees : |
519 |
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 |
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|
|
|
Payment Behaviour : |
Regular |
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|
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
|
IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Al-Haj Textile Mills Limited |
|
Head Office |
: |
66, Dilkusha C/A (4th Floor), Dhaka-1000, Bangladesh. |
|
Tel No |
: |
88-02-9551743 |
|
Fax No |
: |
88-02-9563951 |
|
E-mail |
: |
info@ailweb.com, alhajtex@aitlbd.net info@alhajtextilemills.com |
|
Website |
: |
www.alhajbd.com |
|
Date/ Year of Incorporation |
: |
03.03.1961 |
|
Incorporation No. |
: |
C-1517 |
|
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) |
|
30-06-2014 |
BDT 288,527,739 |
BDT 345,957,606 |
BDT 21,359,682 |
|
30-06-2015 |
BDT 266,644,659 |
BDT 376,701,066 |
BDT 20,769,687 |
|
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 |
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FULLCHECK
REPORT DETAILS
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Information Parted By |
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|
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Name |
: |
Mr. Md. Shawkat
Ali |
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Designation |
: |
Company Secretary |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
: |
66, Dilkusha C/A (4th Floor), Dhaka-1000, Bangladesh. |
|
Tel No |
: |
88-02-9551743 |
|
Fax No |
: |
88-02-9563951 |
|
E-mail |
: |
info@ailweb.com, alhajtex@aitlbd.net info@alhajtextilemills.com |
|
Website |
: |
www.alhajbd.com |
|
Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
3000 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory: |
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Address |
: |
I.K. Road, Ishurdi, Pabna, Bangladesh. |
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Tel No |
: |
88-07326-63905, 63071 |
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Fax No |
: |
Nil |
|
Owned |
|
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Rented |
Ö |
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Leased |
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Area |
63200 |
Sq. ft. |
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Branches: |
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|
Address |
: |
Nil |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
39 |
In Factory |
: |
480 |
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In Branch: |
: |
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Total |
: |
519 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
|
Names of Shareholders |
No. of
Share |
|
Mr. Md. Abdullah Bokhari |
576222 |
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Mr. Md. Talha |
305056 |
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Mr. Md. Shahrawardi |
305229 |
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Mr. Md. Harunoor Rashid |
989920 |
|
Mr. Md. Mizanur Rahman |
889271 |
|
Mr. Md. Saidul Islam |
524605 |
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Mr. Md. Bakhtiar Rahman |
495732 |
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Mr. Md. Shamsul Huda |
717185 |
|
General public |
10426990 |
DIRECTORS
|
Name |
Designation |
|
Mr. Md. Abdullah Bokhari |
Chairman |
|
Mr. Md. Talha |
Managing
Director |
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Mr. Md. Shahrawardi |
Director |
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Mr. Md. Harunoor Rashid |
Director |
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Mr. Md. Mizanur Rahman |
Director |
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Mr. Md. Saidul Islam |
Director |
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Mr. Md. Bakhtiar Rahman |
Director |
|
Mr. Md. Shamsul Huda |
Director |
|
Mr. Farhad Hussain |
Independent
Director |
|
Mr. Abdus Sobhan Bhuiyan |
Independent
Director |
MANAGEMENT
|
Name |
: |
Mr. Md. Shawkat
Ali |
|
Job Description |
: |
Company Secretary |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS
OPERATIONS
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
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Distributor |
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|
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|||||||
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Range of
Products: |
||
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Products |
: |
Raw Cotton. |
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Production Capacity |
: |
6, 94654 Kgs. |
|
Last Year
Production |
: |
Do |
Trading Terms:
|
Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
|
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|||
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Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
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Selling Terms : |
L/C |
Ö |
Cash |
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Others |
|
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|||
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Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
DETAILED
DATA
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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||||
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Trade Markets |
: |
Exports |
: |
Europe |
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|||||
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Imports |
: |
China, India. |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
Hoque Shah Alam Mansur & Co. Chartered Accountants 27 Bijoynagar, Shaj Bhaban (6th Floor), Dhaka-1000 |
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Operation Status |
: |
Active |
||||||||
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Member |
: |
Bangladesh Textile Mills Association |
||||||||
CAPITAL
STRUCTURE
|
Authorized
Capital |
: |
BDT 500000000 |
|
|||||
|
Paid-up Capital |
: |
BDT 152302100 |
No. of Shares |
: 15230210 |
Share
Value |
: |
BDT100.00Each |
|
|
Main Assets |
: |
BDT 376,256,147 |
|
|||||
FINANCIAL
STATEMENT- DETAILED
|
Summary Information Given. |
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|
Balance Sheet : |
||
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Currency |
BDT |
|
|
Denomination |
: 1 |
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Financial
Year Ending |
: 30-06-2015 |
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Income Statement : |
||
|
|
Currency |
:BDT |
|
|
Denomination |
: 1 |
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Financial Year Ending |
: 30-06-2015 |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
Sister Concerns |
: |
F. M. Foods Ltd. Al-Haj Cold Storage F. M. Corporation Ltd Hossain Industries Ltd. United Hospital Limited M. Hossain Cold Storage M. Hossain Overseas Ltd. Eastern Insurance Co. Ltd. Al-Haj Ahmed Ali Steel Re-rolling Mills Ltd. |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
Al-Haj Group of Industries |
BANKING
|
Bank Name
|
: |
Agrani Bank Ltd. |
|
Bank Address |
: |
Ishurdi Branch Ishurdi, Pabna, Bangladesh |
|
|
||
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Bank Name
|
: |
Prime Bank Ltd |
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Bank Address |
: |
I.B.B. Branch, Dilkusha, Dhaka, Bangladesh |
ADVERSE
DATA MONITORING
|
Dishonored Checks |
:
|
No Record Found |
|
Debt |
: |
No Record Found |
|
Litigation |
: |
Clear |
|
Performance Defaults |
: |
No Record Found |
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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 66, Dilkusha C/A (4th Floor), Dhaka-1000, Bangladesh.
It is Situated at Commercial area. |
GENERAL
COMMENTS
|
The subject company is engaged in manufacturer & Exporter. It is
reputed company in this line of business. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
|
BDT |
1 |
Rs.0.85 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.