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MIRA INFORM REPORT
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Report No. : |
504258 |
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Report Date : |
14.04.2018 |
IDENTIFICATION DETAILS
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Name : |
FAKIR KNITWEARS LTD. |
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Registered Office : |
Lucky Chamber (1st Floor), 89,
Motijheel C/A, Dhaka-1000 |
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Country : |
Bangladesh |
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Date of Incorporation : |
18.05.1995 |
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Com. Reg. No.: |
C-28421 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Men’s Wear, Women’s Wear, Under
Wear. |
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No. of Employees : |
9220 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
COMPANY NAME
FAKIR KNITWEARS
LTD.
EXECUTIVE
SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Fakir Knitwears
Ltd. |
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Head Office |
: |
City Center (29th Floor), 90/1, Motijheel C/A, Dhaka-1000,
Bangladesh |
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Tel No |
: |
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Fax No |
: |
Nil |
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E-mail |
: |
fklinfo@fakirgroup.com |
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Website |
: |
www.fakirknit.com |
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Date/ Year of Incorporation |
: |
18.05.1995 |
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Incorporation No. |
: |
C-28421 |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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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
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Value Added Tax(VAT) No |
: |
19261002183 |
Date of Registration |
: |
N/A |
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Issuing Authority |
: |
National Board of Revenue |
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Organization
Name |
: |
Bangladesh Garments Manufacturer &
Exporters Association |
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Membership No |
: |
3979 |
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FINANCIALS-
SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
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31st
Dec’2015 |
BDT 6952.82 Million |
BDT 2910.73 Million |
BDT 403.26 Million |
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31st
Dec’2016 |
BDT 7237.21 Million |
BDT 3071.25 Million |
BDT 382.76 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Saiful Islam |
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Designation |
: |
Deputy General Manager |
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Contract No |
: |
88-01613368077 |
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Locations Details |
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Operating Address |
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City Center (29th Floor), 90/1, Motijheel C/A, Dhaka-1000,
Bangladesh |
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Tel No |
: |
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Fax No |
: |
Nil |
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E-mail |
: |
fklinfo@fakirgroup.com |
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Website |
: |
www.fakirknit.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
4500 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
Ö |
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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. |
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Factory: |
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Address |
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Kayempur, Fatullah, Narayanganj-1400,
Bangladesh |
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Tel No |
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88-02-7643242,
7643271, 7641379-80 |
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Fax No |
: |
88-02-7634611 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
5,50,000 |
Sq. ft. |
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Registry Address: |
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Address |
: |
Lucky Chamber (1st Floor), 89,
Motijheel C/A, Dhaka-1000, Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
85 |
In Factory |
: |
9135 |
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In Branch: |
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- |
Total |
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9220 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of
Shareholders |
No. of Share |
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Mr. Fakir Mashriquzzaman |
79500 |
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Mr. Fakir Aktheruzzaman |
80000 |
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Mrs. Sultana Zaman |
52400 |
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Mrs. Farzana Zaman |
25000 |
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Mr. Fakir Mashfiquzzaman |
1000 |
DIRECTORS
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Name |
Designation |
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Mrs. Sultana Zaman |
Chairman |
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Mr. Fakir Aktheruzzaman |
Managing Director |
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Mr. Fakir Mashriquzzaman |
Director |
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Mrs. Farzana Zaman |
Director |
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Mr. Fakir Mashfiquzzaman |
Director |
MANAGEMENT
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Name |
: |
Mr. Fakir
Aktheruzzaman |
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Job Description |
: |
Managing Director |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr.
Saiful Islam |
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Job Description |
: |
Deputy General Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
saiful@fakirgroup.com |
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Other details |
: |
88-01613368077 |
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Name |
: |
Mr. Mamunur Rahman |
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Job Description |
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Senior Officer (Commercial) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Dyeing |
Ö |
Washing |
Ö |
Printing |
Ö |
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Exporter |
Ö |
Importer |
Ö |
Embroidery |
Ö |
Others |
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Range of
Products: |
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Products |
: |
Men’s wear, Women’s wear, under wear. |
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Production Capacity |
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Garments: 2, 00,000 pcs per day. Dyeing: 45 tons per day. Washing: 30,000 pcs per day Embroidery: 200 head |
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Last Year
Production |
: |
Do |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
DETAILED
DATA
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Trade Reference & Related Parties |
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Overseas Clients |
: |
H&M, Primark Penneys Mexx Zara Destination Maternity Forever 21 Bershka Peacocks Tema Megazacilik etc. |
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Local Clients |
: |
N/A |
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Overseas Suppliers |
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N/A |
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Local Suppliers |
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N/A |
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Trade Markets |
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Exports(Country) |
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UK, France, Canada |
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Imports(Country) |
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China, India |
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Brand Name |
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N/A |
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Certified |
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ISO 9001:2008,
SCR, BSCI, SEDX, GOATS & OEKO |
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Name of Auditors |
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N/A |
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Operation Status |
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Active |
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CAPITAL
STRUCTURE
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Authorized
Capital |
: |
BDT
250 Million |
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Paid-up Capital |
: |
BDT
237900000 |
No.
of Shares |
: |
237900 |
Share
Value : BDT 1000.00Each |
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Main Assets |
: |
BDT 3071.25 Million |
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FINANCIAL
STATEMENT- DETAILED
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Summary Information Given |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Fakir Fashion Ltd. Knitivo Fashion Ltd. Zaman Knitwear Ltd. Jaman Agro Fisheries Zaman Packaging Ltd. Knitivo Industries Ltd. Fakir Apparels limited Zaman Label Industries Fakir Dyes & Chemicals |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
Fakir Group |
BANKING
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Bank Name
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: |
One Bank Ltd |
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Bank Address |
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Principal Branch 45, Dilkusha C/A, Dhaka, Bangladesh Tel: 88-02-9564249 Fax: 88-02-9561960 |
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Bank Name
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Dutch Bangla Bank Ltd. |
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Bank Address |
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Motijheel Fx. Branch Zerin Mansion, 55, Motijheel C/A, Dhaka-1000, Bangladesh |
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Bank Name
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United Commercial Bank Ltd. |
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Bank Address |
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Principal Branch 58, Motijheel C/A, Dhaka-1000, Bangladesh Tel: 88-02-9555799 Fax: 88-02-9568548 |
ADVERSE
DATA MONITORING
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Dishonored Checks |
:
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No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
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No Record Found |
SITE
VISIT COMMENTARY
|
Our
Representative Visited the subject company Head office which is situated at City
Center (29th Floor), 90/1, Motijheel C/A, Dhaka-1000, Bangladesh. It is
situated at commercial area. |
GENERAL
COMMENTS
|
The subject company is engaged in manufacturer, Importer, Exporter,
Embroidery, Printing, Washing, Dyeing. It is reputed company in this line of
business. We recommended that Credit can proceed promptly in Fairly large
amount. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.22 |
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|
1 |
INR 92.77 |
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Euro |
1 |
INR 80.34 |
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BDT |
1 |
INR 0.79 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.