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MIRA INFORM REPORT
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Report No. : |
504928 |
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Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
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Name : |
METRO KNITTING AND DYEING MILLS LTD. |
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Registered Office : |
Eden Market (3rd Floor), 10/3, Toyenbee Circular Road,
Motijheel C/A, Dhaka-1000, Bangladesh. |
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Country : |
Bangladesh |
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Financial Year : |
30.06.2016 |
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Date of Incorporation : |
21.06.2000 |
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Com. Reg. No.: |
C-40569 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Printing,
SyDyeing, Printing, Embroidery, Jackets, Knit Shirts, Shorts, T- Shirts,
Sweater. |
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No. of Employees : |
6500 |
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 : |
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
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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
METRO KNITTING AND DYEING MILLS LTD.
IDENTIFICATION DETAILS
|
||
|
Correct company Name |
: |
Metro Knitting And Dyeing Mills Ltd. |
|
Head Office |
: |
Eden Market (3rd Floor), 10/3, Toyenbee Circular Road,
Motijheel C/A, Dhaka-1000, Bangladesh. |
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Tel No |
: |
88-02-9565884, 9568698 |
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Fax No |
: |
88-02-9551516 |
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E-mail |
: |
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Website |
: |
www.metrokd.com |
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Date/ Year of Incorporation |
: |
21.06.2000 |
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Incorporation No. |
: |
C-40569
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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) |
FINANCIALS-
SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
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30th
June’2015 |
BDT 4321 Million |
BDT 3155.95 Million |
BDT 176.50 Million |
|
30th
June’2016 |
BDT 5737 Million |
BDT 4179.08 Million |
BDT 185.34 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Bazlur Rahman |
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Designation |
: |
General Manager (Marketing
& Merchandising) |
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Contract No |
: |
88-01713035711 |
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Locations
Details |
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Operating Address |
: |
Eden Market (3rd Floor), 10/3, Toyenbee Circular Road,
Motijheel C/A, Dhaka-1000, Bangladesh. |
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Tel No |
: |
88-02-9565884, 9568698 |
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Fax No |
: |
88-02-9551516 |
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E-mail |
: |
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Website |
: |
www.metrokd.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
2200 |
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-1: |
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Address |
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Ramarbag, Kutubpur, Fatullah,
Narayanganj-1400, Bangladesh. |
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Tel No |
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88-02-7647649-50 |
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Fax No |
: |
Nil |
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Factory-2: |
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Address |
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Tarabagh, Ashulia, Saver, Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Corporate Address: |
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Address |
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House# 19, Road# 16, Block# B, Banani,
Dhaka-1213, 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 |
: |
67 |
In Factory |
: |
6433 |
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In Branch: |
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- |
Total |
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6500 |
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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. Amal Podder |
498000 |
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Mrs. Preeti Podder |
332000 |
DIRECTORS
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Name |
Designation |
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Mr. Amal Podder |
Managing Director |
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Mrs. Preeti Podder |
Director |
MANAGEMENT
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Name |
: |
Mr. Amal Podder |
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Job Description |
: |
Managing Director |
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Nationality |
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Bangladeshi |
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Email address |
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N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Bazlur Rahman |
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Job Description |
: |
General Manager (Marketing
& Merchandising) |
|||
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Nationality |
: |
Bangladeshi |
|||
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Email address |
: |
b.rahman@metrokd.com |
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Other details |
: |
88-01713035711 |
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Name |
: |
Mr. Balaram Roy
Chowdhury |
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Job Description |
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DGM (Marketing
& Merchandising) |
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Nationality |
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Bangladeshi |
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Email address |
: |
b.rahman@metrokd.com |
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Other details |
: |
88-01714070358 |
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BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Printing |
Ö |
Dyeing |
Ö |
Distributor |
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Exporter |
Ö |
Importer |
Ö |
Embroidery |
Ö |
Others |
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Range of
Products: |
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Products |
: |
Dyeing, Printing, Embroidery, Jackets, Knit
Shirts, Shorts, T- Shirts, Sweater. |
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Production Capacity |
: |
Knit Fabrics: 1.2 Million Kgs. Knit Dyeing: 3.7 Million Kgs. |
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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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|||
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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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|||
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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 |
: |
Overseas Clients |
: |
C&A Tema H&M Lerros Shoeby Forzany New Look Promodoro Uniqlo/GU |
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Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
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Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports(Country) |
: |
Europe, USA |
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Imports(Country) |
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India, China |
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Brand Name |
: |
N/A |
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Certified |
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N/A |
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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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Member |
: |
Bangladesh Textile Mills Association Bangladesh Knitwear Manufacturers &
Exports Association |
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CAPITAL
STRUCTURE
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Authorized Capital |
: |
BDT 150 Million |
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Paid-up Capital |
: |
BDT 83000000 |
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No. of Shares |
: |
830000 |
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Share Value |
: |
BDT 100.00 Each |
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Main Assets |
: |
BDT 4179.08 Million |
FINANCIAL
STATEMENT- DETAILED
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Financial summary information has been shown |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Name of
The Group |
: |
Nil |
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Subsidiary |
: |
Nil |
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Sister Concerns |
: |
K.B. Traders Ltd. Panam Knitex Ltd. Panam Agrovet Ltd. Jubliant Fashion Ltd. AAA Textile Mills Ltd. Mercer Design Tex Ltd. Bea-Con Knit Wear Ltd. Sabrang Bay Resort Ltd. |
BANKING
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Bank Name
|
: |
United Commercial
Bank Ltd. |
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Bank Address |
: |
Narayangonj Branch 56/1, S.M. Maleh Road, Tanbazar,
Narayangonj-1400, Bangladesh. Tel: 88-02-7646628, 9711328 Fax: 88-02-7641262 |
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 |
: |
No Record Found |
SITE
VISIT COMMENTARY
|
Our Representative Visited the subject company address at Eden market
(3rd Floor), 10/3, Toyenbee Circular Road, Motijheel C/A,
Dhaka-1000, Bangladesh. It is Situated at Commercial area. |
GENERAL
COMMENTS
|
The subject company 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 |
INR 65.68 |
|
|
1 |
INR 93.98 |
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Euro |
1 |
INR 81.30 |
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BDT |
1 |
INR 0.78 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
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Report Prepared
by : |
TPT |
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 |
|
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.