|
Report No. : |
308770 |
|
Report Date : |
23.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
F.L. GARMENTS ACCESSORIES LIMITED |
|
|
|
|
Registered Office : |
11/1, Joynag Road (1st floor), Lalbagh, Dhaka-1211 |
|
|
|
|
Country : |
Bangladesh
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Date of Incorporation : |
16.06.2002 |
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|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer & Distributor All Kinds of Garments Accessories |
|
|
|
|
No. of Employees : |
85 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 |
: |
F.L. GARMENTS
ACCESSORIES LIMITED |
|
Registered office |
: |
11/1, Joynag Road (1st floor), Lalbagh, Dhaka-1211, Bangladesh |
|
Tel No |
: |
880-2-
9613773, 9670576, 9677372 |
|
Fax No |
: |
880-2-9677372 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/ Year of Incorporation |
: |
16.06.2002 |
|
Registered No. |
: |
C-46100 |
|
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’ 12~June’
13 |
BDT 45 Million |
BDT 22 Million |
BDT 0.95 Million |
|
July’ 13~June’
14 |
BDT 93 Million |
BDT 25.50 Million |
BDT 3.20 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
|
||
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Information Parted By |
||
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|
|
|
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Name |
: |
Mr. Md. Zynal
Abdin Jewel |
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Designation |
: |
Manager (Commercial) |
|
Contract No |
: |
01715689759 |
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Locations Details |
||
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||
|
Business Address |
: |
11/1, Joynag Road (1st floor), Lalbagh, Dhaka-1211, Bangladesh |
|
Tel No |
: |
880-2-
9613773, 9670576, 9677372 |
|
E-mail |
: |
880-2-9677372 |
|
Fax No |
: |
|
|
Website |
: |
|
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Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
3500 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
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 |
: |
11/1, Joynag Road (1st floor), Lalbagh, Dhaka-1211, Bangladesh |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
48000 |
Sq. ft. |
|
Branches: |
|
|
|
Address |
: |
21, Khaja Dewan (1st Lane),
Lalbagh, Dhaka -1211, Bangladesh. |
|
Tel No |
: |
- |
|
Fax No |
: |
- |
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Employee: |
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|||||||
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|||||||
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No. of Employees |
In Office |
: |
11 |
In Factory |
: |
64 |
||
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In Branch: |
: |
|
Total |
: |
85 |
|||
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Details: |
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|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of
Shareholders |
No. of Share |
|
Md. Farid Mia |
100000 |
|
Mr. Abdul Latif Khan |
10000 |
|
Md. Motiur Rahman Khan |
5000 |
|
Md. Bashir Mia |
5000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Md. Farid Mia |
Managing Director |
|
Mr. Abdul Latif Khan |
Director |
|
Md. Motiur Rahman Khan |
Director |
|
Md. Bashir Mia |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Zynal Abdin Jewel |
|
Job Description |
: |
Manager (Commercial) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
flgalbd01@yahoo.com |
|
Other details |
: |
01715689759 |
|
|
|
|
|
Name |
: |
Mohammed Atikul Islam |
|
Job Description |
: |
Chief Accountant |
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Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mohammed Tofael Ahmed |
|
Job Description |
: |
Manager (Factory) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
01712-680480 |
BUSINESS
OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
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Exporter |
|
Importer |
|
Services |
|
Others |
|
|
Range of
Products |
||
|
Products |
: |
All Kinds of Garments Accessories
|
|
Production Capacity |
: |
N/A |
|
Last Year
Production |
: |
N/A |
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 |
: |
Local market |
||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
||||
|
Trade Markets |
: |
Exports |
: |
N/A |
|
||||
|
Imports |
: |
Thailand, Singapore, Malaysia, China, Korea, Japan, India |
|
||||||
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Brand Name |
: |
N/A |
|
||||||
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Certified |
: |
N/A |
|
||||||
|
Auditors |
: |
N/A |
|
||||||
|
Operation Status |
: |
Active |
|
||||||
|
Member |
: |
N/A |
|
||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
BDT 30 Million |
|
||||||
|
Paid-up Capital |
: |
BDT 3000000 |
No. of Shares |
: |
30000 |
Share
Value |
: |
BDT100.00Each |
|
|
Main Assets |
: |
BDT 25.50 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
The subject company don’t submit update financial
figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
F.L. Packaging Industries Ltd. B P Accessories (Pvt.) Ltd. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
N/A |
BANKING
|
|
|
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Bank Name
|
: |
Dutch Bangla Bank ltd. |
|
Bank Address |
: |
Imamgonj Branch 41 Imamgonj, Dhaka Roy Iswar Chandra Shil Bahadur S., Dhaka, Bangladesh |
|
|
||
|
Bank Name
|
: |
Uttara Bank Limited |
|
Bank Address |
: |
Shantinagar Branch Kulsum (1st Floor), 40 -41, Siddeswari
Circular Road, Dhaka-1217 Tel: 880-2-8319041,9333898, 01711-405144 |
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 11/1, Joynag Road (1st floor),
Lalbagh, Dhaka-1211, Bangladesh. It is
situated at residential area & their office is as will as normal flat
office. |
GENERAL
COMMENTS
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
|
1 |
Rs.96.00 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.