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Report No. : |
329278 |
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Report Date : |
29.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHIN HUNG FIBRES LIMITED |
|
|
|
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Registered Office : |
83, Khatungonj, Chittagong- 4000 |
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Country : |
Bangladesh
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Date of Incorporation : |
02.02.2003 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Distributor and Exporter of Yarn |
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No. of Employees : |
1000 |
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 : |
Good |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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,
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 |
: |
CHIN HUNG FIBRES LIMITED |
|
Head Office |
: |
83, Khatungonj, Chittagong- 4000, Bangladesh. |
|
Tel No |
: |
88-031-618095-6, 617837, 670518 |
|
Fax No |
: |
88-031-636381, 631583 |
|
E-mail |
: |
chflctg@tkgroupbd.com, chfldhk@tkgroupbd.com chflctg@colbd.net, info@tkgroupbd.com |
|
Website |
: |
www.tkgroup.com |
|
Date/ Year of Incorporation |
: |
02-FEB-2003 |
|
Incorporation No. |
: |
CH-4582 |
|
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/
(Loss) |
|
July’ 12~June’
13 |
BDT 987 Million |
BDT 699.20 Million |
BDT 44.41 Million |
|
July’ 13~June’
14 |
BDT 1150 Million |
BDT 721.50 million |
BDT 59.80 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. Jakir Hossain |
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Designation |
: |
Manager (Finance) |
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Contract |
: |
N/A |
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Locations Details |
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Operating Address |
: |
83, Khatungonj, Chittagong- 4000, Bangladesh. |
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Tel No |
: |
88-031-618095-6, 617837, 670518 |
|||
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Fax No |
: |
88-031-636381, 631583 |
|||
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E-mail |
: |
chflctg@tkgroupbd.com, chfldhk@tkgroupbd.com chflctg@colbd.net, info@tkgroupbd.com |
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Website |
: |
www.tkgroup.com |
|||
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
3500 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
Ö |
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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. |
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Factory: |
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Address |
: |
Chandgaon, I/A, Chittagong, Bangladesh. |
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Tel No |
: |
88-031-670518 |
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Fax No |
: |
88-031-670997 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
50,000 |
Sq. ft. |
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Branches: |
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Address |
: |
T.K. Bhaban (2nd Floor) 13, Kawran Bazar,
Dhaka-1215, Bangladesh. |
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Tel No |
: |
88-02- 9115210, 9144136, 9142876 |
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Fax No |
: |
88-02-9143211 |
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Employee: |
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No. of Employees |
In Office |
: |
89 |
In Factory |
: |
911 |
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In Branch: |
: |
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Total |
: |
1000 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
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Mr. Mohd. Abu Tayab |
225000 Shares |
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Mr. Mohd. Abul Kalam |
225000 Shares |
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Mrs. Laila Bilkis Begum |
225000 Shares |
|
Mrs. Khaleda Begum |
225000 Shares |
DIRECTORS
|
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|
Name |
Designation |
|
Mr. Mohd. Abul Kalam |
Managing Director |
|
Mr. Mohd. Abu Tayab |
Director |
|
Mrs. Laila Bilkis Begum |
Director |
|
Mrs. Khaleda Begum |
Director |
MANAGEMENT
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||
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Name |
: |
Mr. Jakir Hossain |
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Job Description |
: |
Manager (Finance) |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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 |
Ö |
Importer |
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Services |
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Others |
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Range of
Products/Item Dealings In: |
||
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Products |
: |
Yarn |
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Production Capacity |
: |
15 Metric Tons of Grey Yarn, 15 Metric Tons of Dyed Yarn, 10 Metric Tons of Cotton Yarn, 15 Metric Tons of Yarn in Ring Spinning 7 Metric Tons of Dying Every Day |
|
Last Year
Production |
: |
Do |
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 |
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Cash |
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Others |
|
|
|||
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Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
DETAILED
DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
Europe |
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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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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
Bangladesh Textile Mills Association |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
BDT 10,00,00,000 |
|
||||||
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Paid-up Capital |
: |
BDT 9,00,00,000 |
No.
of Shares |
: |
10,00,000 |
Share
Value |
: |
BDT 100.00Each |
|
|
Main Assets |
: |
BDT 721.50 Million |
|
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FINANCIAL
STATEMENT- DETAILED
|
|
The subject company don’t submit update
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/RELATED
PARTIES
|
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Sister Concerns |
: |
Uni-Trade MAF Shies Ltd Riff Leather Ltd T.K. Refinery Ltd. MaAF Motors Ltd Masud & Brothers M.B. Telecom Ltd. Super Oil Mills Ltd. MAF Shoes Limited Riff Leather Limited Super Thread Limited T.K. Food Products Ltd. Super Formica Mills ltd Modern Polly Fiber Ltd. Asia Insurance Co. Ltd. Modern Polly Fiber Ltd. Aching Home Fiber Ltd Samuda Containers Ltd Asia Insurance Limited Super Synthetic Limited Samuda Oil Refinery Ltd Samuda Cement Ind. Ltd. Modern Hatchery Limited Modern Power Co. Limited Rubi Food Products Limited Super Board Mills Limited. Super Particle Bord Limited. Bay Fishing Corporation Ltd Premier Cement Mills Limited MAF News Print Mills Limited Sobnam Vegetable Oil Ind.
Ltd. Modern Polly Industries
Limited T.K Chemical Complex Limited Mohammadi Trading Co. Limited Modern Fibers Industries
Limited Super Knitting and Dyeing
Mills Ltd Samuda Chemical Complex
Limited Super Knitting & Dying
Mills Limited Bangladesh Timber &
Plywood Limited |
|
Subsidiary |
: |
Nil |
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Name of The Group |
: |
TK Group of Industries |
BANKING
|
|
|
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Bank Name
|
: |
Prime Bank Ltd. |
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Bank Address |
: |
Agrabad Branch Address: Chittagong Chamber House, 38
Agrabad C/A, Chittagong-4100 Phone: (031) 727018, 716724-5 Fax: 88-031-718971 |
|
|
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Bank Name
|
: |
Al Arafa Islami Bank Ltd. |
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Bank Address |
: |
Khatungonj Branch (AD) Aktar KamalVP 146, Chand Meah Lane Khatungonj, Chittagong Ph: 031-617103(D),031-622230,031-617104,
01819-315481 Fax: 031-622229 |
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 83, Khatungonj, Chittagong- 4000, Bangladesh. It is situated at commercial
area. |
GENERAL
COMMENTS
|
|
The subject company is engaged in manufacturer, Exporter &
distributors. It is reputed company in
this line of business. We recommended that Credit can proceed normally in
Moderate amount. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.60 |
|
|
1 |
Rs.100.09 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.