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Report No. : |
349982 |
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Report Date : |
17.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
GMS COMPOSITE KNITTING IND. LTD. |
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Registered Office : |
House # 365 (3rd Floor),
Road # 28, New D.O.H.S. Mohakhali, Dhaka-1206 |
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Country : |
Bangladesh |
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Date of Incorporation : |
01.07.1999 |
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Com. Reg. No.: |
C-38061 |
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Legal Form : |
Private Co
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Line of Business : |
Subject is manufacturer and exporter of t-shirts, polo shirts, sewat shirts |
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No. of Employee : |
8430 |
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 |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Bangladesh |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 |
GMS COMPOSITE KNITTING IND. LTD.
EXECUTIVE
SUMMARY
|
||
|
IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Gms Composite Knitting Ind. Ltd. |
|
Head Office |
: |
House # 365 (3rd
Floor), Road # 28, New D.O.H.S. Mohakhali, Dhaka-1206, Bangladesh. |
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Tel No |
: |
88-02-8837217-8, 8837037, 8831718 |
|
Fax No |
: |
88-02-8711095 |
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E-mail |
: |
info@gmsbd.com |
|
Website |
: |
www.gmsbd.com |
|
Date/ Year of Incorporation |
: |
01.07.1999 |
|
Incorporation No. |
: |
C-38061 |
|
Vat registration No |
: |
18071006920 |
|
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’ 13~June’
14 |
BDT 695 Million |
BDT 2511.23 Million |
BDT 47.91 Million |
|
July’ 14~June’
15 |
BDT 1055 Million |
BDT 2561.73 Million |
BDT 61.65 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. Md. Shah Alam |
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Designation |
: |
Senior Officer
(Commercial) |
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Contract No |
: |
88-01713141232 |
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Locations Details |
||
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Operating Address |
: |
House # 365 (3rd Floor),
Road # 28, New D.O.H.S. Mohakhali, Dhaka-1206, Bangladesh. |
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Tel No |
: |
88-02-8837217-8, 8837037, 8831718 |
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Fax No |
: |
88-02-8711095 |
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E-mail |
: |
info@gmsbd.com |
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Website |
: |
www.gmsbd.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
|
Area |
2800 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
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Semi-commercial
office Bldg. |
Ö |
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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 |
: |
Sardagonj, Kashempur, Gazipur, Bangladesh. |
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Tel No |
: |
88-02-7788931-2 |
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Fax No |
: |
N/A |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
43200 |
Sq. ft. |
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Branches: |
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Address |
: |
Nil |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
150 |
In Factory |
: |
8280 |
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In Branch: |
: |
- |
Total |
: |
8430 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
|
|
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Names of Shareholders |
No. of
Share |
|
Mrs. Umme Ayman |
1000 |
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Mr. Md. Alamgir |
1000 |
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Mrs. Yasmin P. Islam |
1000 |
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Mr. Md. Golam Mostafa |
5000 |
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Mrs. Rashida Yasmin |
1000 |
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Mr. Shamsul Arafin |
1000 |
DIRECTORS
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|
|
Name |
Designation |
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Mr. Md. Golam Mostafa |
Managing Director |
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Mrs. Rashida Yasmin |
Director |
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Mr. Shamsul Arafin |
Director |
|
Mrs. Yasmin P. Islam |
Director |
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Mis. Umme Ayman |
Director |
MANAGEMENT
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||
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Name |
: |
Mr. Md. Shah Alam |
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Job Description |
: |
Senior Officer( Commercial) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01713141232 |
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|
|
|
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Name |
: |
Mr. Md. Mahmood |
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Job Description |
: |
Officer(Commercial) |
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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 |
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Range of
Products: |
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Products |
: |
T-Shirts, Polo Shirts, Sewat Shirts |
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Production Capacity |
: |
Knitting-35,000 Kg/Day Dyeing -7500 Kg/Day Printing& Embroidery- 60,000 Pes/Day Garments- 1,00,000 Pes/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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|||
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Credit : |
Ö |
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
DETAILED
DATA
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|||||||||
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
H & M, Okaidi, Wal-Mart, JC Penny. |
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 |
: |
India, China |
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Brand Name |
: |
Nil |
||||||||
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Certified |
: |
Nil |
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Auditors |
: |
Nil |
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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 250 Million |
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||||||
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Paid-up Capital |
: |
BDT 1000000 |
No. of Shares |
: |
10000 |
Share
Value |
: |
BDT 100.00Each |
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Main Assets |
: |
BDT 2561.73 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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||
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Sister Concerns |
: |
Nil |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
Nil |
BANKING
|
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Bank Name
|
: |
Islami Bank
Bangladesh Ltd. |
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Bank Address |
: |
Karwan Bazar Branch T. K. Bhaban (1st Floor), 13,
Kazi Nazrul Islam Avenue, Dhaka, Bangladesh Tel: 88-02-9137571, 8155211 Fax: 88-02-8117587 |
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 address at House # 365
(1st Floor), Road # 28, New D.O.H.S. Mohakhali, Dhaka-1206,
Bangladesh. It is Situated at Semi-Commercial area. |
GENERAL
COMMENTS
|
|
The subject company is engaged in manufacturer & Exporter. 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.66.17 |
|
|
1 |
Rs.100.66 |
|
Euro |
1 |
Rs.70.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
ASH |
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.