MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

503183

Report Date :

12.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

LIZ FASHION INDUSTRY LIMITED

 

 

Registered Office :

House# 316, Road# 4, New DOSH, Baridhara, Dhaka-1206

 

 

Country :

Bangladesh

 

 

Financials (as on) :

30.06.2017 (Summarized)

 

 

Date of Incorporation :

28.08.1997

 

 

Com. Reg. No.:

C-33720

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Manufacturer, Exporter and Importer of Jackets, Pants, Under wears, Spots Wear.

 

 

No. of Employees :

2200

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

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

 

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

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Liz Fashion Industry Limited

Head Office

:

House# 316, Road# 4, New DOSH, Baridhara, Dhaka-1206,

Bangladesh

Tel No

:

88-02-8417601-2

Fax No

:

88-02-8417603

E-mail

:

info@lizfashion.com

Website

:

www.lizfashion.com

Date/ Year of Incorporation

:

28.08.1997

Incorporation No.

:

C-33720

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)

 

 

Other Registry & Certification Details

 

Organization Name

:

Bangladesh Garments Manufacturer & Exporters Association

Membership No

:

N/A

 

 

FINANCIALS- SUMMARY

      Year

Turnover/ Sales

 Assets

     Income

30th June’2016

BDT 1291 Million

BDT 101.25 Million

BDT 51.12 Million

30th June’2017

BDT 1610 Million

BDT 142.65 Million

BDT 61.30 Million

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Md. Liton

Designation

:

Officer (Administration)

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

House# 316, Road# 4, New DOSH, Baridhara, Dhaka-1206,

Bangladesh

Tel No

:

88-02-8417601-2

Fax No

:

88-02-8417603

E-mail

:

info@lizfashion.com

Website

:

www.lizfashion.com

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

1200

Sq. ft.

 

 

Type of Office

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

Ö

 

 

 

 

 

Factory-1:

 

 

Address

:

Building# A, Holding# 1, Block# C, Shaheed Mosharraf Hossain Road, Purba

Chandora, Shafipur, Kaliakoir, Gazipur, Bangladesh.                                                                                                    

Tel No

:

88-068-22-51877, 51886

Fax No

:

88-068-22-52050

 

Factory-2:

 

 

Address

:

Zamirdia (Seed Store), P.S. Bhaluka, Mymensingh, Bangladesh.                                                                                                    

Tel No

:

Nil

Fax No

:

Nil

 

Branch:

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

No. of Employees 

 

In Office

:

41

In Factory

:

2159

In Branch:

:

-

Total

:

2200

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                         No. of Share     

Mr. Zhuang Lifeng

94173

Mrs. Su Lijing

94173

Mr. Md. Saidur Rahman 

9414

 

 

DIRECTORS

 

Name

  Designation

Mrs. Su Lijing

  Chairman

Mr. Zhuang Lifeng

Managing Director

Mr. Md. Saidur Rahman 

Director

 

 

MANAGEMENT

 

Name

:

Mr. Zhuang Lifeng

Job Description

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Hasan Imam

Job Description

:

DGM (Commercial)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Julfikar Ali

Job Description

:

AGM (HR & Compliance)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Liton

Job Description

:

Officer (Administration)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Murshadul

Job Description

:

DGM (Commercial)

Nationality

:

Bangladeshi.

Email address

:

murshadul@lizfashion.com

Other details

:

88-01755537143

 

Name

:

Mr. Md. Jahangir Alom Joy

Job Description

:

Manager (Merchandising)

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

:

Jackets, Pants, Under wears, Spots Wear.

Production Capacity

:

4,20,000 dozens underwear &

715, 00,000 Units Of Sportswear 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

:

Lee

UFC

Jockey

Haggar

Calvin Klein

Celio International.

 

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

 

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports(Country)

:

USA, Europe, Canada, Australia, China

 

Imports(Country)

:

China, India, Thailand

 

Brand Name

:

N/A

Certified

:

N/A

Name of Auditors

:

N/A

Operation Status

:

Active

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 250 Million

 

Paid-up Capital

:

BDT 197760000

 

No. of Shares

:

197760

 

Share Value

:

BDT 1000.00 Each

 

Main Assets

:

BDT 142.65 Million

 

 

FINANCIAL STATEMENT- DETAILED

 

Summary information has been provided

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Nil

Subsidiary

:

Nil

Name of  The Group

:

HMN Fashion Ltd.

Linda Textiles Ind. Ltd. 

 

 

BANKING

 

Bank Name  

:

United Commercial Bank Ltd.                                                                                  

Bank Address

:

Mohakhali Branch

Medona Tower, 28, Mohakhali C/A, Dhaka, Bangladesh

Tel: 88-01711881052

 

Bank Name  

:

Hong Kong Shanghai Banking Corporation

Bank Address

:

Dhaka Main Office

Anchor Tower, 108, Bir Uttam C R Dutta Road, Dhaka-1205 Bangladesh

Tel: 88-02-9660536-43 (Hunting)

Fax : 88-02-9660554

 

 

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 House# 316, Road# 4, New DOSH,  Baridhara, Dhaka-1206, Bangladesh It is Situated at Residential area.

 

 

GENERAL COMMENTS

 

The subject company is a well-known reputed company in Bangladesh.  It is reputed company in this line of business. We recommended that Credit can proceed normally.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.13

UK Pound

1

INR 92.51

Euro

1

INR 80.59

BDT

1

INR 0.79

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TRU

                                                


 

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.