MIRA INFORM REPORT

Report No. :	348716
Report Date :	13.11.2015

IDENTIFICATION DETAILS

Name :	INTERLINK APPARELS LIMITED

Registered Office :	Zafaria (Apt # B2/C2), House # 5, Road # 34, Gulshan-1, Dhaka-1212

Country :	Bangladesh

Date of Incorporation :	06.12.2000

Legal Form :	Private Co

Line of Business :	Manufacturer and Exporter of Shirt, Pant, Jacket, School Wear.

No. of Employee :	1250

RATING & COMMENTS

MIRA’s Rating :

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Bangladesh

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

EXECUTIVE SUMMARY

*IDENTIFICATION DETAILS*
Correct company Name	:	INTERLINK APPARELS LIMITED
Head Office	:	Zafaria (Apt # B2/C2), House # 5, Road # 34, Gulshan-1, Dhaka-1212, Bangladesh.
Tel No	:	88-02-9850261-64
Fax No	:	88-02-9850265
E-mail	:	info@interlink-bd.com
Website	:	www.interlink-bd.com
Date/ Year of Incorporation	:	06.12.2000
Incorporation No.	:	C-42004
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’ 13~June’ 14	BDT 387 Million	BDT 47.25 Million	BDT 18.96 Million
July’ 14~June’ 15	BDT 691 Million	BDT 86.34 Million	BDT 39.75 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

*Information Parted By*

Name	:	Mr. Mrenal Kanti Shaha
Designation	:	Officer (Accounts)
Contract No	:	N/A

*Locations Details*
Operating Address	:	Zafaria (Apt # B2/C2), House # 5, Road # 34, Gulshan-1, Dhaka-1212, Bangladesh.
Tel No	:	88-02-9850261-64
Fax No	:	88-02-9850265
E-mail	:	info@interlink-bd.com
Website	:	www.interlink-bd.com

Location :

: Owned

Rented

Leased

Area

3200

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 # 1619-21 Vogra, Joydebpur, Gazipur, Bangladesh.
Tel No	:	88-01711328011
Fax No	:	Nil

Location :

Owned

Rented

Leased

Area

63800

Sq. ft.

Branches:

Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:

No. of Employees	In Office	:	50	In Factory	:	1200
	In Branch:	:		Total	:	1250
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Mr. Iftekhar Ahmed	73700
Mr. Intezer Ahmed	73700
Mr. Imtiaz Ahmed	73700
Mr. M. R. A. Taha	50000
Mr. Shahriar Taha	50000
Mr. Mohammad Muqbul Elahi	30000
Mrs. Anowara Ahmed	20000

DIRECTORS

Name	Designation
Mr. Imtiaz Ahmed (Farook)	Managing Director
Mr. Iftekhar Ahmed	Director
Mr. Intezar Ahmed (Tulu)	Director
Mr. M. R. A. Taha	Director

MANAGEMENT

Name	:	Mr. Imtiaz Ahmed (Farook)
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	farook@interlink-bd.com
Other details	:	N/A

Name	:	Mr. Mrenal Kanti Shaha
Job Description	:	Accounts
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Ö	Trader	Dealer	Distributor

	Exporter	Ö	Importer	Services	Others

Range of Products:

Products	:	Shirt, Pant, Jacket, School Wear etc.
Production Capacity	:	130000 doz per year.
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			:	Perm-A-Plat Michael Brandon Louis Raphael Oxford Bluemax Bannar	Local Clients	:	N/A
		Overseas Suppliers			:	N/A	Local Suppliers	:	N/A
Trade Markets	:	Exports			:	UK, USA, Australia
		Imports			:	China, India
Brand Name			:	N/A
Certified			:	N/A
Auditors			:	N/A
Operation Status			:	Active
Member			:	Bangladesh Garments Manufacturer & Exporters Association

CAPITAL STRUCTURE

Authorized Capital	:	BDT 50 Million
Paid-up Capital	:	BDT 37100000	No. of Shares	:	371000	Share Value	:	BDT100.00Each
Main Assets	:	BDT 86.34 Million

FINANCIAL STATEMENT- DETAILED

The subject company don’t submit update financial figure to local registry office.
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Sister Concerns	:	Interlink Dresses Interlink Sourcing J.B. Garments Limited Interlink Accessories Limited Later Interlink Apparels Limited
Subsidiary	:	Nil
Name of The Group	:	Interlink Group

BANKING

Bank Name	:	Bank Asia Ltd.
Bank Address	:	MCB Dilkusha Branch Dilkusha 4, C/A, Dhaka-1000, Bangladesh.
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 Zafaria (Apt # B2/C2), House # 5, Road # 34, Gulshan-1, Dhaka-1212, Bangladesh. It is situated at Residential area.

GENERAL COMMENTS

The subject company is engaged in Manufacturer & Exporter of Readymade garments. 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.66.35
UK Pound	1	Rs.100.28
Euro	1	Rs.71.30

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	ANK

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.