|
Report No. : |
327881 |
|
Report Date : |
20.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
AKH SHIRTS LTD. |
|
|
|
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Registered Office : |
AKH Tower (7th Floor), 133-134 Hemayetpur Savar |
|
|
|
|
Country : |
Bangladesh |
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|
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Date of Incorporation : |
13.11.2006 |
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|
|
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Com. Reg. No.: |
C-64459 |
|
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|
|
Legal Form : |
Private Co. |
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Line of Business : |
Manufacturer and Exporter of Shirt, Blouses, Jogging Suit |
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|
|
|
No. of Employee : |
1390 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
: |
AKH Shirts Ltd. |
|
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,
alam@akhfashions.com shahadat@akhfashions.com |
|
Website |
: |
www.akhfashions.com |
|
Date/
Year of Incorporation |
: |
13.011.2006 |
|
Incorporation No. |
: |
C- 64459 |
|
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 439.00
Million |
BDT 56.95
Million |
BDT 11.25
Million |
|
July’
13~June’ 14 |
BDT 615.50 Million |
BDT 72.84 Million |
BDT 24.84 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. Md. Shahadat
Hossain |
|
Designation |
: |
Officer
(Commercial) |
|
Contract No |
: |
N/A |
|
Locations Details |
||
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|
||
|
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,
alam@akhfashions.com shahadat@akhfashions.com |
|
Website |
: |
www.akhfashions.com |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
3600 |
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 |
: |
AKH Tower (1st,
2nd & 5th, 8th
Floor), 133-134 Hemayetpur Savar, Bangladesh. |
|
Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
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Area |
2,60,000 |
Sq. ft. |
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Warehouse: |
|
|
|
|
|
|
|
Address |
: |
AKH Tower,
133-134 Hemayetpur (Ground Floor) Savar, Dhaka-1340, Bangladesh. |
|
Tel
No |
: |
Nil |
|
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 |
: |
50 |
In Factory |
: |
1340 |
||
|
In Branch: |
: |
- |
Total
|
: |
1390 |
|||
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Details: |
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|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Md. Delwar Hossain
|
1500 |
|
Md. Shamsul Alam |
1500 |
|
Md. Abul Kashem |
1500 |
DIRECTORS
|
|
|
Name |
Designation |
|
Md. Delwar Hossain
|
Chairman |
|
Md. Shamsul
Alam
|
Managing Director |
|
Md. Abul Kashem |
Deputy Managing Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Naiem Uddin |
|
Job
Description |
: |
Assis. General Manager |
|
Nationality |
: |
Bangladeshi |
|
Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
|
Name |
: |
Mr. Md. Moslehuddin Ahmed |
|
Job
Description |
: |
Executive Director |
|
Nationality |
: |
Bangladeshi |
|
Email
address |
: |
muahmed@akhfashions.com |
|
Other
details |
: |
N/A |
|
Name |
: |
Mr. Md. Mosfeq Monjur (Uzzal) |
|
Job
Description |
: |
Commercial Officer |
|
Nationality |
: |
Bangladeshi |
|
Email
address |
: |
N/A |
|
Other
details |
: |
88-01711856782 |
BUSINESS
OPERATIONS
|
||||||||
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
|
Services |
|
Others |
|
|
Range of Products: |
||
|
|
||
|
Products |
: |
Shirt, Blouses, Jogging Suit. |
|
Production
Capacity |
: |
2,70,000 Pcs per 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 |
BUSINESS
OPERATIONS
|
|
|||||||||
|
Trade
Reference & Related Parties |
: |
Overseas Clients |
: |
G. Güldenpfennig GmbH C&A Woolworth Metro Western Store K & L
Klingel |
Local Clients |
: |
N/A |
|
||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
||||
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Trade Markets |
: |
Exports |
: |
USA,
Canada , Europe, Japan |
|
|||||
|
Imports |
: |
China, India, Thailand |
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|||||||
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|
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|||||||||
|
Brand Name |
: |
Nil |
||||||||
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Certified |
: |
Nil |
||||||||
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Auditors |
: |
N/A |
||||||||
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Operation Status |
: |
Active |
||||||||
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Member |
: |
Bangladesh Garments Manufacturer
& Exporters Association |
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CAPITAL STRUCTURE
|
|
||||||||
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Authorized
Capital |
: |
BDT 30 Million |
|
||||||
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Paid-up
Capital |
: |
BDT 45,00,000 |
No. of Shares |
: |
4500 |
Share Value |
: |
BDT 1000.00Each |
|
|
Main
Assets |
: |
BDT 72.84 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
||
|
The
subject company don’t submit update financial figure to local registry
office. |
|
||
ASSOCIARES/SUBSIDIARIES/RELATED
PARTIES
|
|||
|
Sister
Concerns |
: |
Angshuk Ltd. AKH Trims Ltd. AKH Fashion Ltd. AKH Washing Ltd. AKH Apparels Ltd. AKH Knitwear Ltd. AKH Stitich Art Ltd. AKH Cargo Services AKH Textiles Ind. Ltd. AKH Knitting & Dying
Ltd. Sabah Trade International
Ltd. AKH Packaging & Accessories Ltd. |
|
|
Subsidiary |
: |
N/A |
|
|
Name of
The Group |
: |
AKH Group
|
|
Banking
|
|
|
|
Bank
Name |
: |
Exim Bank Ltd. |
|
Bank
Address |
: |
Gulshan Branch, 75, Gulshan Avenue, CWSA-10, Gulshan, Dhaka. Phone: 9862262, 9886296 Mobile: 01819-299267 Fax: 880-2-8818703 Swift: EXBKBDDH007 E-mail:
gulshan@eximbankbd.com |
|
|
||
|
Bank
Name |
: |
Agrani Bank Ltd. |
|
Bank
Address |
: |
Purana Palton Corp. Branch, Dhaka 56, Purana Palton, Dhaka, Bangladesh. Phone: 8802-9560011, 9564769 Cable: PURANA
PALTON, Swift: AGBKBDDHA034 |
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, Dhaka-1340, 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.63.82 |
|
|
1 |
Rs.101.26 |
|
Euro |
1 |
Rs.72.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.