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Report No. : |
308761 |
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Report Date : |
24.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARRAY INTERNATIONAL LTD. |
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|
|
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Registered Office : |
House # 521, Road # 10, DOHS Baridhara, Dhaka-1208 |
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Country : |
Bangladesh
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Date of Incorporation : |
23.05.2004 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Distributor and Importer of Hang Tag/Sticker Phot in lay, Printed Label, Woven Label, Poly Bag (PP/LDP, PVC), Back Board, Neck Board, and Carton/Box Carton. |
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No. of Employees : |
34 |
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 |
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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 |
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Moderate |
B1 |
|
High |
B2 |
|
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 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 |
: |
ARRAY
INTERNATIONAL LTD. |
|
Registered office |
: |
House # 521, Road # 10, DOHS Baridhara, Dhaka-1208, Bangladesh |
|
Tel No |
: |
88-02-8412151, 8416113, 8414697, 8410483, 8412151 |
|
Fax No |
: |
88-02-8415546 |
|
E-mail |
: |
arryaccounts@radiancegroup-bd.com,
info@radiancegroup-bd.com |
|
Website |
: |
www.radiancegroup-bd.com |
|
Date/ Year of Incorporation |
: |
23.05.2004 |
|
Registered No. |
: |
C-52854 |
|
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 118 Million |
BDT 25.00 Million |
BDT 2.75 Million |
|
|
July’ 13~June’
14 |
BDT 85 Million |
BDT 27.30 Million |
BDT 2.97 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 |
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FULLCHECK
REPORT DETAILS
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Information Parted By |
||
|
Name |
: |
Mr. Delwar
Hossain |
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Designation |
: |
DGM |
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Contract No |
: |
88-01714090506 |
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Locations Details |
||
|
Business Address |
: |
House # 521, Road # 10, DOHS Baridhara, Dhaka-1208, Bangladesh |
|
Tel No |
: |
88-02-8412151, 8416113, 8414697, 8410483, 8412151 |
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E-mail |
: |
88-02-8415546 |
|
Fax No |
: |
arryaccounts@radiancegroup-bd.com,
info@radiancegroup-bd.com |
|
Website |
: |
www.radiancegroup-bd.com |
|
Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
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Area |
2400 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
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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. |
Ö |
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Factory: |
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Address |
: |
Shibrampur, Zirani Bazar, Gazipur,
Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
25,000 |
Sq. ft. |
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Employee: |
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No. of Employees |
In Office |
: |
5 |
In Factory |
: |
29 |
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In Branch: |
: |
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Total |
: |
34 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of
Shareholders |
No. of Share |
|
Kamrun Nahar Islam(Doly) |
5000 |
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Md. Shahidul Islam (Shahed) |
43287 |
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Md. Shariful Islam |
1713 |
|
Salman Farsy Sunny |
1000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Md. Shahidul Islam (Shahed) |
Managing Director |
|
Kamrun Nahar Islam(Doly) |
Director |
|
Md. Shariful Islam |
Director |
|
Salman Farsy Sunny |
Director |
MANAGEMENT
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||
|
Name |
: |
Md. Shahidul Islam (Shahed) |
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Job Description |
: |
Managing Director |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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|
|
|
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Name |
: |
Mr. Md. Delwar Hossain |
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Job Description |
: |
DGM |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
|
Other details |
: |
88-0171409006 |
BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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|||||||
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Exporter |
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Importer |
Ö |
Services |
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Others |
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Range of
Products: |
||
|
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||
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Products |
: |
Hang Tag/Sticker Phot in lay, Printed Label,
Woven Label, Poly Bag (PP/LDP, PVC), Back Board, Neck Board, Carton/Box
Carton. |
|
Production Capacity |
: |
N/A |
|
Last Year
Production |
: |
N/A |
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 |
|
Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
DETAILED
DATA
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||||||||
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local garments |
||
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
||||
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Trade Markets |
: |
Exports |
: |
N/A |
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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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||||||
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Auditors |
: |
N/A |
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||||||
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Operation Status |
: |
Active |
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||||||
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Member |
: |
Bangladesh Garments Accessories &
Packaging, Manufacturers & Exporters Association |
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CAPITAL STRUCTURE
|
|
||||||||
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Authorized
Capital |
: |
BDT 2,00,00,000 |
|
||||||
|
Paid-up Capital |
: |
BDT 51,00,000 |
No.
of Shares |
: |
51,000 |
Share
Value |
: |
BDT100.00Each |
|
|
Main Assets |
: |
BDT 27.30 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
The subject company didn’t submit any financial information to local
registry office till now. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
D.S. Fashion Ltd Suchi Fashion Ltd. Simanta Textile Ltd. Radiance Jeans Ltd. Cherry Knit Wear Ltd Radiance Fashion Ltd. Radial International Ltd. Radiance Computer Ltd. Salman Spinning Mills Ltd Radiance Entertainment Ltd Sirajgonj Check Industries Ltd |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Radiance Group. |
BANKING
|
|
|
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Bank Name
|
: |
Mercantile Bank Ltd |
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Bank Address |
: |
Main Branch Gulshan CES (A), 54(A), Gulshan Avenue Phone: 8835276-7, 8835614 Fax: 88-02-8835615 |
ADVERSE
DATA MONITORING
|
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|
Dishonored Checks |
:
|
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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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 House # 521, Road # 10, DOHS Baridhara, Dhaka-1208, Bangladesh. It
is situated at residential area but well decorated. |
GENERAL
COMMENTS
|
|
The subject
company is engaged in manufacturer & Distributor. The subject company
maintains acceptable business volume. Based on the financial statements, SC’s
financial performance appears to be Fair. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.95.71 |
|
Euro |
1 |
Rs.70.75 |
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.