|
Report No. : |
311505 |
|
Report Date : |
12.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
SANZI TEXTILE MILLS LIMITED |
|
|
|
|
Registered Office : |
Serene Apartment (Level - 1), House # 114, Road # 3, Block # F, Banani, Dhaka-1213 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
01.02.1996 |
|
|
|
|
Com. Reg. No.: |
CH-2176 |
|
|
|
|
Legal Form : |
Private Co |
|
|
|
|
Line of Business : |
Manufacturer and Distributor of Spun Polyester Thread, Embroidery Thread, Filament Yarn & Cotton Yarn |
|
|
|
|
No of Employees : |
1200 |
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 |
|
|
|
|
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 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 |
: |
Sanzi Textile Mills Limited |
|
Head
Office |
: |
Serene Apartment (Level - 1), House # 114, Road # 3,
Block # F, Banani, Dhaka-1213, Bangladesh. |
|
Tel
No |
: |
88-02-9860857, 9896158, 8858032, 9871862 |
|
Fax
No |
: |
88-02-9858029 |
|
E-mail |
: |
info@wellgroupbd.com, asif@wellgroupbd.com |
|
Website |
: |
www.wellgroupbd.com |
|
Date/
Year of Incorporation |
: |
01.02.1996 |
|
Trade
License No. |
: |
0904899 |
|
Incorporation No. |
: |
CH-2176 |
|
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 2722.20 Million |
BDT 4312.40 Million |
BDT 280.38 Million |
|
July’
13~June’ 14 |
BDT 2965.50 Million |
BDT 4571.25 Million |
BDT 305.44 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
|
||
|
|
||
|
Information Parted By |
||
|
|
|
|
|
Name |
: |
Mr. Asif Hasan |
|
Designation |
: |
Director |
|
Contract No |
: |
88-01713124400 |
|
Locations Details |
||
|
|
||
|
Operating
Address |
: |
Serene Apartment (Level - 1), House # 114, Road # 3,
Block # F, Banani, Dhaka-1213, Bangladesh. |
|
Tel
No |
: |
88-02-9860857, 9896158, 8858032, 9871862 |
|
Fax
No |
: |
88-02-9858029 |
|
E-mail |
: |
info@wellgroupbd.com, asif@wellgroupbd.com |
|
Website |
: |
www.wellgroupbd.com |
|
Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
2400 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
|
|
Semi-commercial
office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential
Bldg. |
Ö |
|
|
|
|
|
|
Factory: |
|
|
|
Address |
: |
Plot# A-23 & S-6(Part), Bscic Industrial Estate, Kalurghat,
Chittagong, Bangladesh. |
|
Tel
No |
: |
88-031-671604, 671198 |
|
Fax
No |
: |
88-031-671983 |
|
Owned |
|
|
Rented |
|
|
Leased |
Ö |
Area |
36000 |
Sq. ft. |
|
Branches: |
|
|
|
Address |
: |
Nil |
|
Tel
No |
: |
Nil |
|
Fax
No |
: |
Nil |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
60 |
In Factory |
: |
1140 |
||
|
In Branch: |
: |
- |
Total
|
: |
1200 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS |
|
|
Names of Shareholders |
No. of Share |
|
Mr. Abdus Salam |
4545 |
|
Mr. Syed Nurul Islam |
6060 |
|
Mr. Sirajul Islam Kamu |
4545 |
|
Mr. Syed Nazrul Islam |
4545 |
|
Mr. Syed Shahidul Islam |
4545 |
|
Mr. Tariqul Islam |
4545 |
|
Mrs. Akhtaruzzaman |
4545 |
|
Mrs. Zeenat Islam |
4545 |
|
Mr. Md. Asif Hasan |
4545 |
|
Mrs. Nasreen Akhter |
4545 |
|
Mrs. Jannatul Islam |
4545 |
|
Mrs. Afroza Begum |
4545 |
|
Dr. Mrs. Nasrin Afroz |
4545 |
DIRECTORS |
|
|
Name |
Designation |
|
Mr. Abdus Salam |
Chairman |
|
Mr. Syed Sirajul Islam Kamu |
Managing Director |
|
Mr. Syed Nurul Islam |
Director |
|
Mr. Syed Nazrul Islam |
Director |
|
Mr. Syed Shahidul Islam |
Director |
|
Mr. Tariqul Islam |
Director |
|
Mr. Syed Asif Hasan |
Director |
MANAGEMENT |
||
|
Name |
: |
Mr. Asif Hasan |
|
Job
Description |
: |
Director |
|
Nationality |
: |
Bangladeshi |
|
Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Kazi Saifuddin Ahmed |
|
Job
Description |
: |
Asst. General Manager |
|
Nationality |
: |
Bangladeshi |
|
Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
|
Name |
: |
Shahana Parvin Shila |
|
Job
Description |
: |
DGM, Sourcing and procurement |
|
Nationality |
: |
Bangladeshi |
|
Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
BUSINESS OPERATIONS |
||||||||
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
|
Importer |
|
Services |
|
Others |
|
|
Range of Products: |
||
|
|
||
|
Products |
: |
Spun
Polyester Thread, Embroidery Thread, Filament Yarn & Cotton Yarn. |
|
Production
Capacity |
: |
Sp
thread 1,500,000 cones/month, Embroidery
thread 300,000 cone /month, Filament
yarn 220,000 lbs /month, Cotton yarn 400,000 lbs /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 |
|
Cash |
Ö |
Others |
|
|
|||
|
|
Credit
: |
Ö |
30
days |
|
60
days |
|
90
days |
|
|
days |
DETAILED DATA |
|
||||||||||
|
Trade
Reference & Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
|
|||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
|||||
|
Trade Markets |
: |
Exports |
: |
N/A |
|
||||||
|
Imports |
: |
India, Pakistan, China, Germany, Thailand
and Singapore. |
|
||||||||
|
Brand Name |
: |
N/A |
|||||||||
|
Certified |
: |
N/A |
|||||||||
|
Auditors |
: |
N/A |
|||||||||
|
Operation Status |
: |
Active |
|||||||||
|
Member |
: |
N/A |
|||||||||
CAPITAL STRUCTURE |
|
||||||||
|
Authorized
Capital |
: |
BDT 10 Million |
|
||||||
|
Paid-up
Capital |
: |
BDT 60,60,000 |
No. of Shares |
: |
60600 |
Share Value |
: |
BDT 100.00Each |
|
|
Main
Assets |
: |
BDT 4571.25 Million |
|
||||||
FINANCIAL STATEMENT- DETAILED |
|
The
subject company don’t submit update full financial figure to local registry
office. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
||
|
Sister
Concerns |
: |
Well Foods Ltd. Well Mart Ltd. Well Dress ltd. Well Fashion Ltd. Well Designer Ltd. Padma Wears Ltd. Well Trading Ltd. Well Knitwear Ltd. Well Accessories Ltd Well Yarn Dyed Ltd Well Accessories Ltd. Well Real Estate Ltd. Well Accessories Ltd Well Yarn Dyed Ltd Well Spinners Limited Well Washing Plant Ltd. Well Composite Knit Ltd Well Park Residence
(Hotel) |
|
Subsidiary |
: |
Nil |
|
Name of
The Group |
: |
Well Group of Industries |
BANKING |
|
|
|
Bank
Name |
: |
Basic Bank Ltd. |
|
Bank
Address |
: |
Jublee Road Branch G.R. Plaza, 5 Jubilee Road Chittagong-4100 Tel: 031-634879, 638305 Fax: 031-2851738 SWIFT: BKSIBDDH013 Branch Code: 13 E-mail:
jubileeroad@basicbanklimited.com |
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 Serene Apartment (Level - 1), House
# 114, Road # 3, Block # F, Banani, Dhaka-1213, Bangladesh. The subject company
Director Mr. Asif Hasan given us all information. Is situated at Residential
area which is a well decorated modern office. |
GENERAL COMMENTS |
|
Based on the financial statements,
SC’s financial performance appears to be average. SC has been in its line of
business for about 17 years. Taking into account its long-standing history,
reputation in the market, as well as its financial condition, we recommend
that credit may proceed in moderate amounts. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.74 |
|
|
1 |
Rs. 94.60 |
|
Euro |
1 |
Rs. 67.09 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.