|
Report No. : |
308149 |
|
Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
COATS BANGLADESH LTD. |
|
|
|
|
Registered Office : |
Novo Tower, (3rd & 4th Floor) 270, Tejgoan
I/A, Tejgoan, Dhaka-1208 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
22.10.1989 |
|
|
|
|
Com. Reg. No.: |
C-18973 (A) |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Engaged as Manufacturer & Suppliers of Industrial sewing
Threads, Staple Spun
Polyester, Trilobal Polyester (for Embroidery Applications), Polyester Core
& Spun Thread |
|
|
|
|
No of Employees : |
850 (58 in
Office & 792 in Factory) |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
IDENTIFICATION DETAILS
|
||
|
|
||
|
Correct
Company Name |
: |
Coats Bangladesh Ltd. |
|
Head
Office |
: |
Novo Tower, (3rd & 4th
Floor) 270, Tejgoan I/A, Tejgoan, Dhaka-1208, Bangladesh. |
|
Tel
No |
: |
88-02-8870960-5 |
|
Fax
No |
: |
88-02-8870975 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date
of Incorporation |
: |
22-10-1989 |
|
Incorporation No. |
: |
C-18973(A) |
|
Legal
Form (General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole
Proprietorship 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 |
BDT 287 Million |
BDT 33.5 Million |
BDT 9.70 Million |
|
July’ 13~June’ 14 |
BDT 338 Million |
BDT 39.50 Million |
BDT 15.93 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 |
|
Information Parted
By
|
||
|
|
|
|
|
Name |
: |
Mr. Walid Haider |
|
Designation |
: |
Officer
(Commercial) |
|
Contact No |
: |
88-01755520101 |
Locations Details
|
||
|
Operating
Address |
: |
Novo Tower, (3rd & 4th Floor)
270, Tejgoan I/A, Tejgoan, Dhaka-1208, Bangladesh. |
|
Tel
No |
: |
88-02-8870960-5 |
|
Fax
No |
: |
88-02-8870975 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Location : |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
1800 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
|
|
Semi-commercial
office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
Ö |
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential
Bldg. |
|
|
|
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|
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Factory(Unit-1): |
||
|
Address |
: |
Fouzderhat Industrial
Estate, Sagorika Road, P.O. Customs Academy, Chittagong, Bangladesh. |
|
Tel
No |
: |
88-031-751666, 751152-54, 751623 |
|
Fax
No |
: |
Nil |
|
Owned |
|
|
Rented |
|
|
Leased |
Ö |
Area |
40,000 |
Sq. ft. |
|
Factory(Unit-2): |
||
|
Address |
: |
Holding# 468,
Word#22, Banglabazar Road, Joydevpur, Baoul Mirzapur, Gazipur, Bangladesh. |
|
Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
|
Location : |
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
58,000 |
Sq. ft. |
|
Employee: |
|
||||||
|
|
|
||||||
|
No.
of Employees |
In Office |
: |
58 |
In Factory |
: |
792 |
|
|
In Branch: |
: |
- |
Total
|
: |
850 |
||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Mr. A. K. Khan
& Co. Ltd |
90000 |
|
Coats South Asia
Holding B. V |
360000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Ranjan
Chakhaiyar |
Managing Director |
|
Mr. A.K. Shamsuddin
Khan |
Director |
|
Mr. Salahuddin
Kasem Khan |
Director |
|
Mr. Anil Lasantha
Naomal Dias |
Director |
|
Mr. Wahed
Aziz-Ur-Rahman |
Director |
|
Mr. D.S. Zulfikar
Hyder |
Director |
|
Mr. Ashok Mathur |
Director |
|
Mr. Narasimhan
Nrayanan |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Walid Haider. |
|
Job Description |
: |
Officer
(Commercial) |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01755520101 |
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
|
Suppliers |
Ö |
Importer |
|
Services |
|
Others |
|
|
Range of Products: |
||
|
|
||
|
Products |
: |
· Industrial Sewing Threads · Staple Spun Polyester · Trilobal Polyester (For Embroidery Applications) · Polyester Core ·
Spun Thread |
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 |
: |
N/A |
Local Clients |
: |
N/A |
|
|||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
|||||
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Trade Markets |
: |
Exports |
: |
N/A |
|
||||||
|
Imports |
: |
China. India. |
|
||||||||
|
Brand Name |
: |
N/A |
|||||||||
|
Certified |
: |
ISO 9001:2000
Certificate. |
|||||||||
|
Auditors |
: |
N/A |
|||||||||
|
Operation Status |
: |
Active. |
|||||||||
|
Member |
: |
N/A |
|||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized Capital |
: |
BDT 50 Million. |
|
||||||
|
Paid-up Capital |
: |
BDT 4, 50,00,000 |
No. of Shares |
: |
4, 50,000 |
Share Value |
: |
BDT 100.00Each |
|
|
Main Assets |
: |
BDT 39.50 Million |
|
||||||
FINANCIAL STATEMENT- DETAILED
|
|
The subject company
don’t submit update full financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
||
|
Sister Concerns |
: |
Ceat Akk Ltd. Info Com Ltd. Ak Khan Tower A.K. Khan Mill Ak Khan Jute Mills. Ak Ceycom Limited Bengal Fisheries
Ltd. Ak Ceycom Limited. Andhar Manik Tea
State. Ak Khan Securities
Ltd. Akk Real Estate
Limited. Ak Khan Plywood
Factory. Ak Khan Cold
Storage Ltd. A.K. Khan &
Company Ltd. Ak Khan Rubber
Plantation. Akk Logistic &
distribution. Niketan Hotel &
Restaurant. Chittagong Textile
Mills Ltd. A.K. Khan Telecom Limited Ceat Ak Khan
Bangladesh Ltd Bangal Gafeway
Terminds Ltd. Akk Union
(Bangladesh) Limited. Ak Khan Pen fabric
Company Ltd. A K Water Health
(Bangladesh) Ltd. A.K. Khan Water
Health (Bangladesh) Ltd. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Ak Khan Group |
|
Bank Name |
: |
Hong Kong Shang Hai
Banking Corporation |
|
Bank Address |
: |
Dhaka Main Office Anchor Tower, 108,
Bir Uttam C R Dutta Road, Dhaka - 1205
Bangladesh Telephone: (880 2)
9660536-43 (Hunting) Fax : (880 2)
9660554 |
|
|
||
|
Bank Name |
: |
Standard Chartered
Bank |
|
Bank Address |
: |
Head Office Complex
Branch, 67 Gulshan Avenue,
Dhaka |
|
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 Novo Tower, (3rd &
4th Floor) 270, Tejgoan I/A, Tejgoan, Dhaka-1208, Bangladesh. The subject
company Officer (Commercial) Mr. Walid Haider gave us all information. Is situated at industrial area which is a well
decorated modern office |
GENERAL COMMENTS
|
|
SC is considered
medium-sized in its line with fairly stable financial conditions. |
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.