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Report No. : |
323583 |
|
Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
THE DELTA COMPOSITE KNITTING INDUSTRIES LTD |
|
|
|
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Registered Office : |
House # 389, Lane # 06, Baridhara D.O.H.S, Dhaka-1206 |
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Country : |
Bangladesh |
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Date of Incorporation : |
03.08.1996 |
|
|
|
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Com. Reg. No.: |
C-31081 |
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|
|
Legal Form : |
Private Co |
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|
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Line of Business : |
Manufacturer and Exporter of T-shirt, Polo Shirt, Tank Top, Jacket, long pant. |
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No of Employees : |
5500 |
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 |
|
Maximum Credit Limit : |
USD 1,20,000 |
|
|
|
|
Status : |
Satisfactory |
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|
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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.
|
Source
: CIA |
IDENTIFICATION DETAILS
|
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Correct
company Name |
: |
The Delta Composite Knitting Industries Ltd |
|
Head
Office |
: |
House # 389, Lane # 06, Baridhara D.O.H.S,
Dhaka-1206, Bangladesh. |
|
Tel
No |
: |
88-02-8413636, 8413637,
9891344 |
|
Fax
No |
: |
88-02-8412762 |
|
E-mail |
: |
omar@deltagroupbd.com,
hafiz@deltagroupbd.com |
|
Website |
: |
www.deltagroupbd.com |
|
Date/
Year of Incorporation |
: |
03.08.1996 |
|
Incorporation No. |
: |
C-31081 |
|
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 1875 Million |
BDT 320.00 Million |
BDT 87.60 Million |
|
July,
13~June, 14 |
BDT 2290 Million |
BDT 331.35 Million |
BDT 105.20 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 |
|
INQUIRER SPECIFIED CREDIT –TRADE FINANCE
|
||
|
Recommended Credit Range |
: |
USD 1,20,000 based on 90 days |
FULLCHECK
REPORT DETAILS
|
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Information Parted By |
||
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|
|
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Name |
: |
Mr. Md. Rezaul
Karim |
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Designation |
: |
Asst. General
Manager (Commercial) |
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Contract No |
: |
N/A |
|
Locations Details |
||
|
Operating
Address |
: |
House # 389, Lane # 06, Baridhara D.O.H.S,
Dhaka-1206, Bangladesh. |
|
Tel
No |
: |
88-02-8413636,
8413637, 9891344 |
|
E-mail |
: |
88-02-8412762 |
|
Fax No |
: |
omar@deltagroupbd.com, hafiz@deltagroupbd.com |
|
Website |
: |
www.deltagroupbd.com |
|
Location : |
: Owned |
Ö |
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Rented |
|
|
Leased |
|
Area |
3000 |
Sq. ft. |
|
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 |
: |
Kashimpur,
Konabari, Gazipur, Bangladesh. |
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Tel
No |
: |
88-02-9297852-5 |
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Fax
No |
: |
88-02-9297741-5 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
72,000 |
Sq. ft. |
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Branches: |
|
|
|
Address |
: |
50, Purana
Paltan Lane, (4th Floor), Dhaka-1000, Bangladesh. |
|
Tel
No |
: |
N/A |
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Fax
No |
: |
N/A |
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Employee: |
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No. of Employees |
In Office |
: |
85 |
In Factory |
: |
5415 |
||
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In Branch: |
: |
- |
Total
|
: |
5500 |
|||
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Details: |
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OWNERSHIP/SHAREHOLDERS
|
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Names of Shareholders |
No. of Share |
|
Engr. A.K.M. Faruque Ahmed |
15000 |
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Mrs. Ferdous Ara Begum |
10000 |
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Farzana Farooque Safa |
1000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Engr. A.K.M. Faruque Ahmed |
Managing Director |
|
Mrs. Ferdous Ara Begum |
Director |
|
Farzana Farooque Safa |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Rezaul Karim |
|
Job
Description |
: |
Asst. General Manager (Commercial) |
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Nationality |
: |
Bangladesh |
|
Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
BUSINESS
OPERATIONS
|
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Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
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Distributor |
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|||||||
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Exporter |
Ö |
Importer |
|
Services |
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Others |
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Range of Products : |
||
|
|
||
|
Products |
: |
T-shirt, Polo Shirt, Tank Top, Jacket, long
pant. |
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Production
Capacity |
: |
N/A |
|
Last Year Production |
: |
N/A |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
|
|
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
|
|
||||||||||
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Trade
Reference & Related Parties |
: |
Overseas Clients |
: |
Target, Wal Mart, Kappa, H&M, C&A, Kohl, Okaidi, Mascot, Zara |
Local Clients |
: |
N/A |
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|||
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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|||||
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Trade Markets |
: |
Exports |
: |
USA, 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 Garments Manufacturer
& Exporters Association |
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CAPITAL STRUCTURE
|
|
||||||||
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Authorized
Capital |
: |
BDT 100 Million |
|
||||||
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Paid-up
Capital |
: |
BDT 26, 00,000 |
No. of Shares |
: |
26000 |
Share Value |
: |
BDT 100.00Each |
|
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Main
Assets |
: |
BDT 331.35 Million |
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FINANCIAL
STATEMENT- DETAILED
|
|
The
subject company don’t submit update full financial figure to local registry
office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister
Concerns |
: |
Lily Cosmetics Ltd The Delta Advertising The Delta Apparels Ltd The Delta Engineer's Ltd.
The Delta Carton Ind. Ltd The Delta Trading
Company The Delta Spinning Mills Ltd |
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Subsidiary |
: |
N/A |
|
Name of
The Group |
: |
The Delta Group |
BANKING
|
|
|
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Bank
Name |
: |
Islami Bank Bangladesh Ltd. |
|
Bank
Address |
: |
Mouchack Branch Hosaf Twin Towe, Malibag Morh, Dhaka -1217 Phone: 88-(02) 8314659, 9345946, 9355625 |
|
|
||
|
Bank
Name |
: |
Janata Bank
ltd. |
|
Bank
Address |
: |
Local Office 1, Dilkusha Commercial Area, Dhaka-1000 Phone:88-02- 9553106, 9556241, 9556242-44, Fax:
88-02-9563639 |
ADVERSE
DATA MONITORING
|
||
|
Dishonored Checks |
: |
No Record
Found |
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Debt |
: |
No Record Found |
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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 # 389, Lane # 06, Baridhara D.O.H.S,
Dhaka-1206, Bangladesh. It is situated at Residential area which is a well
decorated modern office. |
GENERAL
COMMENTS
|
|
Subject is mainly engaged in Manufacturer
& Exporter. 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. 63.57 |
|
|
1 |
Rs. 99.66 |
|
Euro |
1 |
Rs. 70.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
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.