|
Report No. : |
350575 |
|
Report Date : |
21.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ABANTI COLOUR TEX LIMITED |
|
|
|
|
Registered Office : |
House # 365/4, Road # 6 (West) Baridhara, DOHS, Dhaka-1206 |
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Country : |
Bangladesh
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Date of Incorporation : |
30.12.1994 |
|
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|
Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Dyeing, Exporter, Importer, Printing and Embroidery of T-Shirt, Polo Shirt, Tank Top, Knitted Jacket, Legging Others |
|
|
|
|
No. of Employees : |
6500 |
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 – 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 |
|
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 |
IDENTIFICATION DETAILS
|
||
|
Correct company Name |
: |
ABANTI COLOUR TEX LIMITED. |
|
Head Office |
: |
House # 365/4, Road # 6 (West) Baridhara, DOHS, Dhaka-1206,
Bangladesh. |
|
Tel No |
: |
88-02-8415126-7, 8415123 |
|
Fax No |
: |
88-02-8412560 |
|
E-mail |
: |
info@abanti.net, admin@abanti.net,
sunny@abanti.net |
|
Website |
: |
www.cronygroupbd.com |
|
Date/ Year of Incorporation |
: |
30.12.1994 |
|
Incorporation No. |
: |
C-38867
|
|
Import Registration Certificate No |
: |
123818 |
|
Export Registration Certificate No |
: |
30186 |
|
|
|
|
|
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 575.00 Million |
BDT 2731.20 Million |
BDT 9.87 Million |
|
July’ 14~June’
15 |
BDT 921.00 Million |
BDT 2855.10 Million |
BDT 53.65 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 |
|
FULLCHECK
REPORT DETAILS
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Information Parted By |
||
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|
|
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Name |
: |
Mr. Md. Rubel
Ahmed |
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Designation |
: |
Manager (Commercial) |
|
Contract No |
: |
N/A |
|
Locations Details |
||
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||
|
Operating Address |
: |
House # 365/4, Road # 6 (West) Baridhara, DOHS, Dhaka-1206, Bangladesh. |
|
Tel No |
: |
88-02-8415126-7, 8415123 |
|
Fax No |
: |
88-02-8412560 |
|
E-mail |
: |
info@abanti.net, admin@abanti.net,
sunny@abanti.net |
|
Website |
: |
www.cronygroupbd.com |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
3200 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
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|
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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 |
: |
Plot # S.A.-646, Shashangaon, Enayetnagar,
Fatulla, Narayanganj-1400, Bangladesh. |
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Tel No |
: |
88-02-7672526, 7672404, 7671073 |
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Fax No |
: |
88-02-7671057 |
|
Owned |
Ö |
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Rented |
|
|
Leased |
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Area |
392674 |
Sq. ft. |
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Branches: |
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|
|
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|
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|
Address |
: |
Nil |
|
Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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|||||||
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|||||||
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No. of Employees |
In Office |
: |
50 |
In Factory |
: |
6450 |
||
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In Branch: |
: |
- |
Total |
: |
6500 |
|||
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Details: |
|
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|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Mr. A.H. Aslam Sunny |
2453500 |
|
Mrs. Hosne Ara |
1046500 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. A.H. Aslam Sunny |
Managing Director |
|
Mrs. Hosne Ara |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Gautom Kumar Mallik |
|
Job Description |
: |
General Manager. |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Md. Rubel
Ahmed |
|
Job Description |
: |
Manager (Commercial) |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mr. Nizam Uddin Mondal |
|
Job Description |
: |
General Manager (Marketing) |
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Nationality |
: |
Bangladeshi. |
|
Email address |
: |
rana@abanti.net |
|
Other details |
: |
88-01713063836 |
BUSINESS
OPERATIONS
|
||||||||
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Nature of Activity : |
Manufacturer |
Ö |
Dyeing |
Ö |
Embroidery |
Ö |
Distributor |
|
|
|
|
|||||||
|
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Exporter |
Ö |
Importer |
Ö |
Printing |
Ö |
Others |
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Range of
Products: |
||
|
|
||
|
Products |
: |
T-Shirt, Polo Shirt, Tank Top, Knitted
Jacket, Legging Others |
|
Production Capacity |
: |
Knitting 35 Ton/day Dyeing 30 Ton/day Printing 120000 pcs/day Embroidery 110 Head Garments 135000 pcs/Day |
|
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 |
: |
KIABI MGB TOM TAILOR H&M MANGOO Rewe / Okaidi-Obaibi / Gemo / Aldi |
Local Clients |
: |
N/A |
|
||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
||||
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Trade Markets |
: |
Exports |
: |
Europe, USA |
|
|||||
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Imports |
: |
China, India |
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|||||||
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Brand Name |
: |
N/A |
||||||||
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Certified |
: |
ISO 9001:2008 |
||||||||
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Auditors |
: |
N/A |
||||||||
|
Operation Status |
: |
Active. |
||||||||
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Member |
: |
Narayangonj Chamber of Commerce &
Industry Bangladesh Knitwear Manufacturer &
Exporters Association. |
||||||||
CAPITAL STRUCTURE
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|
||||||||
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Authorized Capital |
: |
BDT 500 Million |
|
||||||
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Paid-up Capital |
: |
BDT 350000000 |
No. of Shares |
: |
3500000 |
Share
Value |
: |
BDT 100.00Each |
|
|
Main Assets |
: |
BDT 2855.10 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
Summary information given |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
BD Packaging Ltd. Crony Fashion Ltd. Crony Logistic Ltd. Crony Apparels Ltd. Crony Knit Wear Ltd. S. S. Cotton Fabrics Ltd. Crony Tex Sweater Ltd Crony Tex Sourcing Ltd. Crony Printing & Embroidery Ltd. |
|
Subsidiary |
: |
Nil |
|
Name of The Group |
: |
Crony Group. |
BANKING
|
|
|
|
Bank Name
|
: |
Rupali Bank Ltd. |
|
Bank Address |
: |
Narayangonj Branch Fatullah Bazar P.O : Fatullah Narayangonj, Bangladesh Tel: 88-02-7670155 |
|
Bank Name
|
: |
Duch Bangla Bank
Ltd |
|
Bank Address |
: |
Narayangonj Branch 45, S.M. Maleh Road, Tanbazar, Narayangonj-1400, Bangladesh. Tel: 88-02-7641134 , 7640752, 7643828 Fax: 88-02-9712200 |
|
Bank Name
|
: |
Exim Bank Ltd |
|
Bank Address |
: |
Narayangonj Branch Sattar Tower, 50, SM Maleh Road, Tanbazar, Narayangonj, Bangladesh. Tel: 88-02-7640213, 7640214 Fax: 88-02-7644414 |
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 address at House #
365/4, Road # 6 (West) Baridhara, DOHS, Dhaka-1206, Bangladesh. It is
Situated at Commercial area. |
GENERAL
COMMENTS
|
|
The subject company
is engaged in manufacturer, Exporter, Importer, Embroidery, Printing &
Dyeing. 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.66.09 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.