MIRA INFORM REPORT

Report No. :	501971
Report Date :	05.04.2018

IDENTIFICATION DETAILS

Name :	PACIFIC JEANS LTD.
Registered Office :	Plot# 14-19, Sector# 5, EPZ, Chittagong-4223
Country :	Bangladesh
Financials (as on) :	30.06.2017 [Summarized]
Date of Incorporation :	10.04.1993
Com. Reg. No.:	CH-1358
Legal Form :	Private Co
Line of Business :	Manufacturer, Exporter and Importer of Jeans & Casual Wear (Bottom)
No. of Employees :	6995

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Bangladesh	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

BANGLADESH - ECONOMIC OVERVIEW

Bangladesh's economy has grown roughly 6% per year since 1996 despite prolonged periods of political instability, poor infrastructure, endemic corruption, insufficient power supplies, and slow implementation of economic reforms. Although more than half of GDP is generated through the services 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 were on track to again surpass $25 billion in 2017. The sector continues to grow, despite the need for improvements in factory working conditions to avert further high-profile accidents that have killed more than 1,000 workers in recent years. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $13 billion and 6% of GDP in 2016 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.

The recent influx of hundreds of millions of additional refugees from Burma will place pressure on the Bangladeshi government’s budget and the country’s rice supplies, which declined in 2017 in part because of adverse weather.

Source : CIA

IDENTIFICATION DETAILS
Correct company Name	:	PACIFIC JEANS LTD.
Head Office	:	Plot# 14-19, Sector# 5, EPZ, Chittagong-4223, Bangladesh.
Tel No	:	88-031-741006-8, 741338
Fax No	:	88-031-741339, 740153
E-mail	:	info@pacificjeans.com
Website	:	www.pacificjeans.com
Date/ Year of Incorporation	:	10.04.1993
Incorporation No.	:	CH-1358
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
30^th June’ 2016	BDT 1321 Million	BDT 257.87 Million	BDT 67.15 Million
30^th June’2017	BDT 1987 Million	BDT 391.69 Million	BDT 82.52 Million

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Md. Nasir Uddin
Designation	:	Managing Director
Contract No	:	N/A

Locations Details
Operating Address	:	Plot# 14-19, Sector# 5, EPZ, Chittagong-4223, Bangladesh.
Tel No	:	88-031-741006-8, 741338
Fax No	:	88-031-741339, 740153
E-mail	:	info@pacificjeans.com
Website	:	www.pacificjeans.com

Location :

: Owned

Rented

Leased

Ö

Area

3500

Sq. ft.

Type of Office :	: Commercial Office Bldg.	Ö		Semi-commercial office Bldg.
Retail shop			Industrial Park
Business Center			Home Office
Residential Bldg.

Factory:
Address	:	Plot# 14-19, Sector# 5, EPZ, Chittagong-4223, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Leased

Ö

Area

680,000

Sq. ft.

Branch:
Address	:	Plot# 9-11, Sector# 6/A, Chittagong EPZ, Chittagong, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	70	In Factory	:	6913
	In Branch:	:	12	Total	:	6995

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share	Country
Mr. Md. Nasir Uddin	360000	Bangladesh.
Mrs. Syeda Umay Habiba Begum	60000	Bangladesh.
Mr. Syed Mohammad Tanvir	60000	Bangladesh.
Mr. Syed Mohammed Tansir	60000	Bangladesh.
Mr. Syed Mohammed Tahmir	60000	Bangladesh.

DIRECTORS
Name	:	Mr. Md. Nasir Uddin
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	nasir@pacificjeans.com
Other details	:	N/A
Name	:	Mrs. Syeda Umay Habiba Begum
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Syed Mohammad Tanvir
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT
Name	:	Mr. Md. Nasir Uddin
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	nasir@pacificjeans.com
Other details	:	N/A
Name	:	Mr. Syed Mohammad Tanvir
Job Description	:	Director
Nationality	:	Bangladeshi.
Email address	:	tanveer@pacificjeans.com
Other details	:	N/A

Name	:	Mr. Saiful Hasan Chowdhury
Job Description	:	Assistant General Manager (Accounts)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Manjur Kader
Job Description	:	Senior Manager (Commercial)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Khaled Saifullah
Job Description	:	Manager (Export)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS
Nature of Activity :	Manufacturer	Ö	Trader		Dealer	Distributor
	Exporter	Ö	Importer	Ö	Services	Others

Range of Products:
Products	:	Jeans & Casual Wear (Bottom)
Production Capacity	:	40,000 Doz. Per 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

:

LEE GAP Next C & A H & M Wrangler

Local Clients

:

N/A

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

Trade Markets

:

Exports

:

Europe, USA

Imports

:

China, India, Pakistan.

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Garments Manufacturer & Exporters Association

Capital structure
Authorized Capital	:	BDT 500 Million.
Paid-up Capital	:	BDT 60000000
No. of Shares	:	600000
Share Value	:	BDT 100.00 Each
Main Assets	:	BDT 391.69 Million

FINANCIAL STATEMENT- DETAILED

SC has submitted their financial summary information to local registry office

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Name of The Group	:	Nil
Subsidiary	:	Nil
Sister Concerns	:	NHT Fashions Ltd. Jeans 2000 Limited NZN Garments Ltd. Universal Jeans Ltd. Pacific Accessories Ltd. NZN Fashion Wears Ltd. Diamond Fashion Wear (Pvt.) Ltd.

BANKING
Bank Name	:	HSBC Bank
Bank Address	:	Agrabad Branch Osman Court, 70, Agrabad C/A, Chittagong-4100, Bangladesh Tel: 88-031-724406, 723750, 711154, 710008 Fax: 88-031-710007
Bank Name	:	City Bank Ltd
Bank Address	:	Agrabad Branch 11, Rnlay House, Agrabad C/A, Chittagong-4100, Bangladesh Tel: 88-031-716210, 502638, 720631-3, 726279-80 Fax: 88-031-720962

Bank Name	:	Standard Chartered Bank
Bank Address	:	Chittagong Main Branch Sheikh Mujib Road, Agrabad, Chittagong, 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 Plot # 14-19, Sector # 5, EPZ, Chittagong-4223, Bangladesh. It is Situated at a Commercial Area.

GENERAL COMMENTS

The subject company is a well-known reputed company in Bangladesh. It is reputed company in this line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.02
UK Pound	1	INR 91.49
Euro	1	INR 79.79
BDT	1	INR 0.77

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.