MIRA INFORM REPORT

 

 

Report No. :

357006

Report Date :

26.12.2015

 

IDENTIFICATION DETAILS

 

Name :

R. M. INTERLININGS LIMITED

 

 

Registered Office :

R.M. Center ,119 Shekh Mujib Road , Agrabad , Chittagong

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

23.01.1996

 

 

Com. Reg. No.:

CH-2165

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Manufacturer & Exporter of Caps, Hats, Shoes, Baby Wears

 

 

Employees:

280

 

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 – 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

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

R. M. INTERLININGS LIMITED

Head Office

:

R.M. Center ,119 Shekh Mujib Road , Agrabad , Chittagong , Bangladesh

Tel No

:

88-031-727217, 252 0741, 252 0743

Fax No

:

88-031-2524362

E-mail

:

info@rmilbd.com

Website

:

www.rmilbd.com

Date/ Year of Incorporation

:

23.01.1996

Incorporation No.

:

CH-2165

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)

July’ 13~June’ 14

BDT 832.03 Million

BDT 1133.48 Million

BDT 126.71 Million

July’ 14~June’ 15

BDT 842.09  Million

BDT 1357.32 Million

BDT 121.73 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. Tanver Ahmed Chowdhury

Designation

:

Manager (Commercial)

Contract No

:

N/A

 

                                                               Locations Details

 

Operating Address

:

R.M. Center ,119 Shekh Mujib Road , Agrabad , Chittagong , Bangladesh

Tel No

:

88-031-727217, 252 0741, 252 0743

Fax No

:

88-031-2524362

E-mail

:

info@rmilbd.com

Website

:

www.rmilbd.com

 

Location :

: Owned

 Ö

 

Rented

 

 

Leased

 

Area

2200

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

:

Plot#36, Sector#4, Export Processing Zone, Chittagong, Bangladesh

Tel No

:

88-031-74 1643, 74 0083, 74 1562, 800783

Fax No

:

88-031-74 0327

 

Location :

   Owned

 

 

Rented

 

 

Leased

Ö

Area

24,000

Sq. ft.

 

Branches:

 

 

 

 

 

Address

:

House#457(4th Floor), Road #31, D.O.H.S., Mohakhali, Dhaka, Bangladesh.

Tel No

:

88-02-881 9940, 989 1130, 875 0710, 875 0713

Fax No

:

88-02-881 6401

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

12

In Factory

:

268

In Branch:

:

-

Total

:

280

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mrs. Rokeya  Akhter

189500

Mr. Mohd. Mozharul Hoq (Monsoor)

229450

 

 

DIRECTORS

 

Name

Designation

Mrs. Rokeya  Akhter

Chairman

Mr. Mohd.  Mozharul Hoq (Monsoor)

Managing Director                                                                               

 

 

MANAGEMENT

 

Name

:

Mr. Mahabub Hossain

Job Description

:

Manager (Accounts)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Tanver Ahmed Chowdhury

Job Description

:

Manager (Commercial)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

Range of Products:

 

Products

:

Caps, Hats, Shoes, Baby Wears

Production Capacity

:

1,000 pcs. Per 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

:

Tax port-France

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports

:

N/A

 

Imports

:

China, India

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Garments Manufacturer & Exporters Association

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 50 Million

 

Paid-up Capital

:

BDT 41895000

 No. of Shares

:

418950

Share Value

:

BDT100.00Each

Main Assets

:

BDT 1357.32 Million

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

Summary Information Given.

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Nil

Subsidiary

:

Nil

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

Bank Asia Ltd.

Bank Address

:

Agrabad Branch

69, Agrabad C/ A, Chittagong

Bangladesh

Tel: 880-31-714665, 724876, 714703

Fax: 880-31-714548

 

Bank Name  

:

Basic Bank Ltd.

Bank Address

:

Ba Agrabad Branch

Pine View (Ground floor)

100 Agrabad C/A, Chittagong-4100

Bangladesh

Tel: 031-2520080, 725527, 814041

Fax: 88-031-714822sic Bank Ltd.

 

 

 

Bank Name  

:

Standard Chartered Bank

Bank Address

:

Agrabad Branch

PHP House, 31 Agrabad C/A, Chittagong

Bangladesh

 

 

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 R.M. Center,119 Shekh Mujib Road , Agrabad , Chittagong , 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. We recommended that Credit should proceed with monitor  in Small amount-periodical review

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.20

UK Pound

1

Rs.98.30

Euro

1

Rs.72.41

BDT

1

Rs.0.84

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

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.