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Report No. : |
326111 |
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Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
AKH FASHIONS LIMITED |
|
|
|
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Registered Office : |
AKH Tower (7th Floor), 133-134 Hemayetpur, Savar |
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Country : |
Bangladesh |
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Date of Incorporation : |
03.09.2000 |
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Com. Reg. No.: |
C-41204 |
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Legal Form : |
Private Co |
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Line of Business : |
Manufacturer and Exporter of Woven Shirt (Men/Ladies/Boys & Girls) |
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|
No of Employees : |
1207 |
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 |
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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 – 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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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.
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Source
: CIA |
IDENTIFICATION DETAILS
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Correct
company Name |
: |
AKH Fashions Limited |
|
Head
Office |
: |
AKH Tower (7th Floor), 133-134 Hemayetpur, Savar,
Bangladesh. |
|
Tel
No |
: |
88-02-7744001-8, |
|
Fax
No |
: |
88-02-7741830 |
|
E-mail |
: |
info@akhfashions.com,
kashem@akhfashion.com |
|
Website |
: |
www.akhfashion.com |
|
Date/
Year of Incorporation |
: |
03.09.2000 |
|
Incorporation No. |
: |
C-41204 |
|
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 372 Million |
BDT 1104.95 Million |
BDT 11.73 Million |
|
July’
13~June’ 14 |
BDT 585 Million |
BDT 1129.50 Million |
BDT 29.17 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 |
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Name |
: |
Mr. Naiem Uddin |
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Designation |
: |
Asst. General
Manager |
|
Contract No |
: |
N/A |
|
Locations Details |
||
|
Operating
Address |
: |
AKH Tower (7th Floor), 133-134 Hemayetpur, Savar,
Bangladesh. |
|
Tel
No |
: |
88-02-7744001-8, |
|
Fax
No |
: |
88-02-7741830 |
|
E-mail |
: |
info@akhfashions.com,
kashem@akhfashion.com |
|
Website |
: |
www.akhfashion.com |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
3500 |
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-1: |
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Address |
: |
AKH Tower, 133-134 Hemayetpur, (4th Floor
& 6th Floor) Savar, Bangladesh. |
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Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
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Factory-2: |
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|
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Address |
: |
Holding No-14 Gedda Karnapara, Ulail, Savar,
Bangladesh. |
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Tel
No |
: |
Nil |
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Fax
No |
: |
Nil |
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Branches: |
|
|
|
Address |
: |
Nil |
|
Tel
No |
: |
Nil |
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Fax
No |
: |
Nil |
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Employee: |
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|||||||
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|||||||
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No. of Employees |
In Office |
: |
39 |
In Factory |
: |
1168 |
||
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In Branch: |
: |
- |
Total
|
: |
1207 |
|||
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Details: |
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|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Mr. Md. Shamsul Alam |
500 |
|
Mr. Md. Abul Kashem |
500 |
|
Mr. Delwar Hossain |
500 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Md. Shamsul Alam |
Managing Director |
|
Mr. Md. Abul Kashem |
Director |
|
Mr. Delwar Hossain |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Naiem Uddin |
|
Job
Description |
: |
Asst. General Manager |
|
Nationality |
: |
Bangladeshi |
|
Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Mosfekh manjur Uzzal |
|
Job
Description |
: |
88-01711856782 |
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Nationality |
: |
Bangladeshi |
|
Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
|
Name |
: |
Mr. Moslehuddin ahmed |
|
Job
Description |
: |
Executive Director |
|
Nationality |
: |
Bangladeshi |
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Email
address |
: |
muahmed@akhfashion.com |
|
Other
details |
: |
N/A |
BUSINESS
OPERATIONS
|
||||||||
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Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
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|
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|||||||
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Exporter |
Ö |
Importer |
|
Services |
|
Others |
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Range of Products: |
||
|
|
||
|
Products |
: |
Woven Shirt (Men/Ladies/Boys & Girls) |
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Production
Capacity |
: |
220000 Pcs/month |
|
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 |
: |
C&A Woolworth Mervyns Kohls Target |
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, Thailand |
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Brand Name |
: |
N/A |
|||||||||
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Certified |
: |
N/A |
|||||||||
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Auditors |
: |
N/A |
|||||||||
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Operation Status |
: |
Active |
|||||||||
|
Member |
: |
Nil |
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CAPITAL STRUCTURE
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||||||||
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Authorized
Capital |
: |
BDT 50, 00,000 |
|
||||||
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Paid-up
Capital |
: |
BDT 15, 00,000 |
No. of Shares |
: |
1500 |
Share Value |
: |
BDT 1000.0Each |
|
|
Main
Assets |
: |
BDT 1129.50 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
The
subject company don’t submit update full financial figure to local registry
office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister
Concerns |
: |
Angshuk Ltd AKH Trims Ltd. AKH Shirts Ltd. AKH apparels Ltd. AKH Washing Ltd. AKH Stitch Art Ltd. AKH Cargo Service AKH Knit Wear Ltd. AKH Textile Ind. Ltd AKH Knitting & Dyeing
Ltd Sabah Trade International
Ltd. Creative Shirts Ltd.
(Joint Venture) AKH Packaging &
Accessories Ltd. |
|
Subsidiary |
: |
Nil |
|
Name of
The Group |
: |
AKH Group
|
Banking
|
|
|
|
Bank
Name |
: |
Exim Bank Ltd. |
|
Bank
Address |
: |
Gulshan Branch, 75, Gulshan Avenue, CWSA-10, Gulshan, Dhaka, Bangladesh Tel: 88-02-9862262, 9886296 Fax: 88-02-8818703 |
|
|
||
|
Bank
Name |
: |
Agrani Bank
Ltd. |
|
Bank
Address |
: |
Purana Paltan Branch. 56, Purana Paltan, Dhaka, Bangladesh Tel: 88-02-9561049 |
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 AKH Tower, 133-134 Hemayetpur, (7th
floor) Savar, Bangladesh. It is situated at commercial area which is a well
decorated modern office. |
GENERAL
COMMENTS
|
|
Subject is mainly engaged
in Manufacturer & Exporter of Readymade Garments. The subject company
maintains acceptable business volume. Based on the financial statements, SC’s
financial performance appears to be average. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 64.11 |
|
|
1 |
Rs. 97.84 |
|
Euro |
1 |
Rs. 71.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.