|
Report No. : |
326846 |
|
Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ISLAM
GARMENTS LTD. |
|
|
|
|
Registered Office : |
House # 21, Road # 10, Baridhara, Dhaka-1212 |
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|
|
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Country : |
Bangladesh
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Date of Incorporation : |
12.02.1985 |
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|
|
|
Legal Form : |
Private Company |
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|
|
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Line of Business : |
Manufacturer, Exporter, Dyeing and Importer of Knit Items, Shirts, Blouses & Pants |
|
|
|
|
No. of Employees : |
3045 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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, 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 |
IDENTIFICATION DETAILS
|
||
|
Correct company Name |
: |
ISLAM GARMENTS LTD. |
|
Registered office |
: |
House # 21, Road # 10, Baridhara, Dhaka-1212, Bangladesh |
|
Tel No |
: |
880-2-8827770,
9863004, 9863040 |
|
Fax No |
: |
880-2-8816093 |
|
E-mail |
: |
islam@islam-garments.com,
hrd@islam-garments.com |
|
Website |
: |
www.islam-garments.com |
|
Date/ Year of Incorporation |
: |
12.02.1985 |
|
Registered No. |
: |
C- 13755 |
|
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 1347 Million |
BDT
155.50 Million |
BDT
49.95 million |
|
July’ 13~June’
14 |
BDT
1421 Million |
BDT
163.20 Million |
BDT
68.75 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. Khalid Hossain |
|
Designation |
: |
Manager (Commercial) |
|
Contract No |
: |
88-0171333 1126 |
|
Locations Details |
||
|
Business Address |
: |
House # 21, Road # 10, Baridhara, Dhaka-1212, Bangladesh |
|
Tel No |
: |
880-2-8827770,
9863004, 9863040 |
|
Fax No |
: |
880-2-8816093 |
|
E-mail |
: |
islam@islam-garments.com,
hrd@islam-garments.com |
|
Website |
: |
www.islam-garments.com |
|
Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
4800 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
|
|
Semi-commercial
office Bldg. |
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|
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Retail shop |
|
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Industrial Park |
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|
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Business Center |
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Home Office |
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Residential Bldg. |
Ö |
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Factory(Unit-1): |
||
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Address |
: |
Zamgora, Ashulia, Savar, Dhaka,
Bangladesh. |
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Tel No |
: |
- |
|
Fax No |
: |
- |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
45000 |
Sq. ft. |
|
Factory(Unit-2): |
||
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|
|
|
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Address |
: |
Zarun, Kona Bari, Gazipur, Bangladesh. |
|
Tel No |
: |
- |
|
Fax No |
: |
- |
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Location : |
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
40000 |
Sq. ft. |
|
Registered Address: |
||
|
|
|
|
|
Address |
: |
156, Shantinagar, Dhaka-1217, Bangladesh. |
|
Tel No |
: |
- |
|
Fax No |
: |
- |
|
Employee: |
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|||||||
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|||||||
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No. of Employees |
In Office |
: |
65 |
In Factory |
: |
3,000 |
||
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In Branch: |
: |
- |
Total |
: |
3045 |
|||
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Details: |
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|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of
Shareholders |
No. of
Share |
|
Mr. Shafiqul Islam |
2,00,000 |
|
Mr. Atiqul Islam |
50,000 |
|
Islam Knit Designs Ltd |
6,00,000 |
|
Mr. Shahrier Ahmed |
50,000 |
|
Mr. Shaker Ahmed |
50,000 |
|
Mrs. Hasmat Ara Islam |
50,000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Shafiqul Islam |
Chairman & Managing Director |
|
Mr. Atiqul Islam |
Director |
|
Mr. Shahrier Ahmed |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr.
Khalid Hossain |
|
Designation |
: |
Manager( Commercial) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
- |
BUSINESS
OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Dyeing |
Ö |
Dealer |
|
Distributor |
|
|
|
Exporter |
Ö |
Importer |
Ö |
Others |
|
|
|
|
Range of
Products: |
||
|
|
||
|
Products |
: |
Knit items, Shirts, Blouses, Pants, |
|
Production Capacity |
: |
Germents:16,000
Pcs per day Dyeing,
Printing: 20,000 yards 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 |
: |
Wal Mart JC Penny USA Eagle Charles Vogele Benetton Colins Nygard Reitman |
Local Clients |
: |
|
|
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|||
|
Trade Markets |
: |
Exports |
: |
USA, Canada, Europe |
||||
|
Imports |
: |
China, India, Thailand |
||||||
|
Brand Name |
: |
N/A |
||||||
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Certified |
: |
N/A |
||||||
|
Auditors |
: |
N/A |
||||||
|
Operation Status |
: |
Active |
||||||
|
Member |
: |
Bangladesh Garments
Manufacturer & Exporters
Association |
||||||
CAPITAL STRUCTURE
|
||||||||
|
Authorized
Capital |
: |
BDT 200 Million |
||||||
|
Paid-up Capital |
: |
BDT 10,00,00,000 |
No.
of Shares |
: |
10,00,000 |
Share Value |
: |
BDT 100.00Each |
|
Main Assets |
: |
BDT
163.20 Million |
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
The subject company don’t submit update financial
figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/RELATED
PARTIES
|
||
|
Sister Concerns |
: |
Islam Dress Ltd Islam Knit Design Ltd Islam Products Ltd The Rose Dresses Ltd. |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
Islam Garments Group |
BANKING
|
|
|
|
Bank Name
|
: |
IFIC Bank Ltd. |
|
Bank Address |
: |
Motijheel Branch Pabx: 880-2-9563020-29 Fax: 880-2-09566352 Phone: 880-2-9565215-18 125/A Motijheel C/A, Dhaka-1000,
Bangladesh |
|
|
||
|
Bank Name
|
: |
Shahajalal Islami Bank Ltd. |
|
Bank Address |
: |
Gulshan Branch Nafi Tower (Level-2), Gulshan-1, Dhaka-1212. 53, Gulshan South C/A, Gulshan
Avenue, |
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
House # 21, Road # 10, Baridhara, Dhaka-1212, Bangladesh. It is situated at
Residential area which is a well decorated modern office. |
GENERAL
COMMENTS
|
|
SC is considered
medium-sized in its line with fairly stable financial conditions. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
|
|
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.