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Report No. : |
347223 |
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Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
A.B.M. FASHIONS LTD. |
|
|
|
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Registered Office : |
Ananta House,
House # 2, Road # 10, Sector # 11, Utthara, Dhaka-1230 |
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Country : |
Bangladesh |
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Date of Incorporation : |
02.07.1991 |
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Com. Reg. No.: |
C-20795 |
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Legal Form : |
Private Co |
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|
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Line of Business : |
Manufacturer and Exporter of Trousers, Overalls, Children Wears, Uniforms |
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|
No. of Employees : |
1000 |
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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.B.M. Fashions Ltd. |
|
Head
Office |
: |
Ananta House, House
# 2, Road # 10, Sector # 11, Utthara, Dhaka-1230, Bangladesh |
|
Tel
No |
: |
88-02-9333144, 019611686013-7 |
|
Fax
No |
: |
88-02-58952350 |
|
E-mail |
: |
info@ananta.com.bd |
|
Website |
: |
Nil |
|
Date/
Year of Incorporation |
: |
02.07.1991 |
|
Incorporation No. |
: |
C-20795 |
|
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 386 Million |
BDT 28.95 Million |
BDT 17.37 Million |
|
July’ 14~June’ 15 |
BDT 431 Million |
BDT 37.10 Million |
BDT 21.55 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. Yousuf |
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Designation |
: |
Assistant Manager
(Commercial) |
|
Contract No |
: |
N/A |
|
Locations
Details |
||
|
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||
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Operating
Address |
: |
Ananta House, House
# 2, Road # 10, Sector # 11, Utthara, Dhaka-1230, Bangladesh |
|
Tel
No |
: |
88-02-9333144, 019611686013-7 |
|
Fax
No |
: |
88-02-58952350 |
|
E-mail |
: |
info@ananta.com.bd |
|
Website |
: |
Nil |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
12000 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
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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. |
Ö |
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Factory: |
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Address |
: |
1143-1145
Kashimpur Road, Konabari, Gazipur, Bangladesh |
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Tel
No |
: |
Nil |
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Fax
No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
40000 |
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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|||||||
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|||||||
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No. of Employees |
In Office |
: |
50 |
In Factory |
: |
950 |
||
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In Branch: |
: |
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Total
|
: |
1000 |
|||
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Details: |
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|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of Share |
|
Engr. Taifur Rahman |
600 |
|
Mr. Aminul Haq Khan |
500 |
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Mr. Inamul Haq Khan |
500 |
|
Mr. M. Sajedul Karim |
500 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Inamul Haq Khan |
Managing Director |
|
Mr. Aminul Haq Khan |
Director |
|
Engr. Taifur Rahman |
Director |
|
Mr. M. Sajedul Karim |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Yousuf |
|
Job
Description |
: |
Assistant Manager (Commercial) |
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Nationality |
: |
Bangladeshi. |
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Email
address |
: |
yousuf@ananta.com.bd |
|
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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|||||||
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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 |
: |
Trousers, Overalls, Children Wears, Uniforms |
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Production
Capacity |
: |
130000 Dos. Of 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 |
: |
N/A |
Local Clients |
: |
N/A |
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|||
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
|||||
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Trade
Markets |
: |
Exports |
: |
Europe |
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||||||
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Imports |
: |
India, China |
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||||||||
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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 |
|||||||||
|
Member |
: |
Bangladesh Garments Manufacturer
& Exporters Association |
|||||||||
CAPITAL STRUCTURE
|
|
||||||||
|
Authorized
Capital |
: |
BDT 10 Million |
|
||||||
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Paid-up
Capital |
: |
BDT 210000 |
No. of Shares |
: |
2100 |
Share Value |
: |
BDT100.00Each |
|
|
Main
Assets |
: |
BDT 37.10 Million |
|
||||||
FINANCIAL
STATEMENT- DETAILED
|
|
The
subject company don’t submit update financial figure to local registry
office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Sister
Concerns |
: |
Ananta Sportswear Ltd. Ananta Jeans wear Ltd. Ananta Garments Limited |
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Subsidiary |
: |
Nil |
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Name of
The Group |
: |
Ananta Group (Ashulia) |
BANKING
|
|
|
|
Bank
Name |
: |
Prime Bank Ltd. |
|
Bank
Address |
: |
Elephant Road Branch Address: Ananta Plaza, 136, Elephant Road, Dhaka-1205, Bangladesh Tel: 88-02-9662776-7, 9673783 Fax: 88-02-8622591 |
|
|
||
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Bank
Name |
: |
Mutual Trust
Bank Ltd |
|
Bank
Address |
: |
Uttara Model Town Branch House # 41, Road # 07, Sector # 04, Uttara, Dhaka-1230, Bangladesh Tel: 88-02-8924379, 8951474 Fax:
88-02-8951474 |
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 Ananta House, House # 2, Road # 10, Sector
# 11, Utthara, Dhaka-1230, Bangladesh. It is Situated at Residential 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.64.95 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
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.