|
Report No. : |
342781 |
|
Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
A.K.H. KNITTING AND DYEING LTD. |
|
|
|
|
Registered Office : |
AKH Tower, 133/134, Hemayetpur, Savar |
|
|
|
|
Country : |
Bangladesh
|
|
|
|
|
Date of Incorporation : |
13.05.2003 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Manufacturer, Knitting, Dyeing, Exporter, Importer, Printing and Embroidery of T- Shirt, Polo Shirt, Sweat Shirt, Tank Top, Boxer Shorts, Jogging Suit, Pajama Sets & Brief (Men’s & Ladies) |
|
|
|
|
No. of Employees : |
5200 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
: |
A.K.H. KNITTING
AND DYEING LTD. |
|
Head Office |
: |
AKH Tower, 133/134, Hemayetpur, Savar,
Bangladesh. |
|
Tel No |
: |
88-02-7744001-8 |
|
Fax No |
: |
88-02-7741830 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/ Year of Incorporation |
: |
13.05.2003 |
|
Incorporation No. |
: |
C-49207 |
|
Bonded Warehouse No. |
: |
106/CUS-SBW/2001 |
|
Export Registration Certificate No |
: |
RA 53894 |
|
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 |
|
31st
December, 2013 |
BDT 462.90 Million |
BDT
2012.15 Million |
BDT 9.37 Million |
|
31st December,
2014 |
BDT 985.70 Million |
BDT 2105.23 Million |
BDT 54.17 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 |
||
|
|
|
|
|
Name |
: |
Mr. Mofizur
Rahman |
|
Designation |
: |
Senior Officer
(Commercial) |
|
Contract No |
: |
88-01911789269 |
|
Locations Details |
||
|
|
||
|
Operating Address |
: |
AKH Tower, 133/134, Hemayetpur, Savar,
Bangladesh. |
|
Tel No |
: |
88-02-7744001-8 |
|
Fax No |
: |
88-02-7741830 |
|
E-mail |
: |
info@akhfashions.com,
hossain@akhfashions.com,
alam@akhfashions.com,
kashem@akhfashions.com |
|
Website |
: |
|
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
6,000 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
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Business Center |
|
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Home Office |
|
|
|
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Residential Bldg. |
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|
|
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Factory: |
|
|
|
Address |
: |
92, Phulbaria, Tetulzora, Savar,
Bangladesh. |
|
Tel No |
: |
88-01713479212, 01711536592, 01713479243 |
|
Fax No |
: |
880-2-9135987 |
|
Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
2,05,000 |
Sq. ft. |
|
Employee: |
|
|||||||
|
|
|
|||||||
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No. of Employees |
In Office |
: |
120 |
In Factory |
: |
5080 |
||
|
In Branch: |
: |
- |
Total |
: |
5200 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Mr. Md. Abul Kashem |
5000 |
|
Mr. Md. Delwar Hossain |
5000 |
|
Mr. Md. Samsul Alam |
5000 |
|
Mr. Shamim Haque |
5000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Md. Delwar Hossain |
Chairman |
|
Mr. Md. Samsul Alam |
Managing Director |
|
Mr. Md. Abul Kashem |
Dy. Managing Director |
|
Mr. Shamim Haque |
Director |
MANAGEMENT
|
||
|
Name |
: |
Md. Delwar Hossain |
|
Job Description |
: |
Chairman |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
hossain@akhfashions.com |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Md. Shamsul Alam |
|
Job Description |
: |
Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
alam@akhfashions.com |
|
Other details |
: |
88-01911789269 |
|
Name |
: |
Md. Abul Kashem |
|
Job Description |
: |
Dy. Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
kashem@akhfashions.com |
|
Other details |
: |
N/A |
|
Name |
: |
Mr. Mir Zahidul Omar |
|
Job Description |
: |
Senior Commercial Manager |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS
OPERATIONS
|
||||||||
|
Nature of Activity : |
Manufacturer |
Ö |
Knitting |
Ö |
Dyeing |
Ö |
Distributor |
|
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
Ö |
Printing |
Ö |
Embroidery |
Ö |
|
Range of
Products: |
||
|
|
||
|
Products |
: |
T- Shirt, Polo Shirt, Sweat Shirt, Tank Top, Boxer Shorts, Jogging
Suit, Pajama Sets & Brief (Men’s & Ladies). |
|
Production Capacity |
: |
16, 00,000 Pcs. per 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 |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
DETAILED
DATA
|
|
||||||||||
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
Tchibo ALDI C&A LIDL Sainsburry’s CDF, Marcopolo B&C Tex-Ebo Li & Fung Wal Mart K-Mart JC Penney Target Macy’s Kohls |
Local Clients |
: |
N/A |
||||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
||||||
|
Trade Markets |
: |
Exports |
: |
Europe, USA, Singapore, HK, |
|
||||||
|
Imports |
: |
China, India |
|
||||||||
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Brand Name |
: |
N/A |
|
||||||||
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Certified |
: |
ISO 9001:2000 |
|
||||||||
|
Auditors |
: |
N/A |
|
||||||||
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Operation Status |
: |
Active |
|
||||||||
|
Member |
: |
Bangladesh Garments Manufacturer &
Exporters Association |
|
||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
BDT 30 Million |
|
||||||
|
Paid-up Capital |
: |
BDT 2000000 |
No.
of Shares |
: |
20000 |
Share Value |
: |
BDT 100.00Each |
|
|
Main Assets |
: |
BDT 2105.23 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
The subject company don’t submit update
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister Concerns |
: |
Angshuk Ltd AKH Shirts Ltd AKH Trims Ltd AKH Washing Ltd AKH Fashions Ltd AKH Apparel Ltd AKH Knitwear Ltd AKH Carbo Service AKH Stitch Art Ltd AKH Textiles Ind. Ltd AKH Knitting & Dyeing Ltd Sabah Trade International Ltd AKH Packaging & Accessories Ltd |
|
Subsidiary |
: |
N/A |
|
Name of The Group |
: |
AKH Group |
BANKING
|
|
|
|
Bank Name
|
: |
Export Import Bank
of Bangladesh Ltd. |
|
Bank Address |
: |
Gulshan Branch, Gulshan Branch, 75, Gulahsn Avenue, Dhaka 1212, Bangladesh. Phone: 9886296, 9862262, 8819711. Telex: 632125 EXN GL BJ. Fax: 880-2-8818703. E-mail: eximgul@bttb.net.bd. Swift # EXBKBDDH 007. |
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 at 133/134,
Hemayetpur, Savar, Dhaka, Bangladesh. It is situated outside of Dhaka city
which is industrial area. Its office is decorated by modern furniture. |
GENERAL
COMMENTS
|
|
Subject is mainly engaged in Manufacturer & Exporter of Readymade
Garments. The subject company maintains acceptable business volume. Based on
the financial statements, SC’s financial performance appears to be Strong. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.74 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.