MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

506519

Report Date :

30.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

KAZIPUR FASHIONS LTD.

 

 

Registered Office :

Civil Engineer Bhaban, 69, Mohakhali C/A, Dhaka-1212

 

 

Country :

Bangladesh

 

 

Financials (as on) :

30.06.2017

 

 

Date of Incorporation :

01.10.1994

 

 

Com. Reg. No.:

C-26757

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Subject is engaged in Manufacturer, Washing, Exporter and Importer of Jackets, Pants, and Overalls.

 

 

No. of Employees :

3342

 

 

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 :

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

:

Kazipur Fashions Ltd.

Head Office

:

Civil Engineer Bhaban, 69, Mohakhali C/A, Dhaka-1212, Bangladesh

Tel No

:

88-09666779977

Fax No

:

88-02-9893175

E-mail

:

info@standard-group.com

Website

:

www.standard-group.com

Date/ Year of Incorporation

:

01-10-1994

Incorporation No.

:

C-26757

Legal Form (General)

:

 Public Listed Co        Public (but not listed)   Private Co   State-owned Co

 Sole Proprietorship   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)

30th June’2016

BDT 1503 Million

BDT 181.83 Million

BDT 87.95 Million

30th June’2017

BDT 1895 Million

BDT 238.30 Million

BDT 115.97 Million

 

 

 

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Habib Ullah.

Designation

:

Executive Director

Contract No

:

88-01711540766

 

                                                               Locations Details

Operating Address

:

Civil Engineer Bhaban, 69, Mohakhali C/A, Dhaka-1212, Bangladesh

Tel No

:

88-09666779977

Fax No

:

88-02-9893175

E-mail

:

info@standard-group.com

Website

:

www.standard-group.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

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(Unit-1):

Address

:

Civil Engineers Tower,  Plot# 1, Block# E,  Avenue# 1, Section# 11, Mirpur,

Dhaka-1216 Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Factory(Unit-2):

Address

:

Jarun Konabari (5th Floor East Side), Gazipur Sadar, Gazipur, Bangladesh

Tel No

:

88-02-9297061-8, 9289407, 9289408-10

Fax No

:

88-02-9297943, 9297897

 

Branch:

 

 

Address

:

BGMEA Bhaban (4th Floor), Karwan Bazer, Dhaka-1215, Bangladesh.

Tel No

:

88-02-9662007

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

32

In Factory

:

3305

In Branch:

:

5

Total

:

3342

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Engr. Mr. Md. Atiqur Rahman

21550

Engr. Mr. A.K.M. Mosharraf Hussain

21550

Faheem Mosharraf

21550

Mahmuda Begum

21550

Mr. H.T.M. Quader Newaz

21550

Tasmiah Rahman

21550

Mr. Hasnat Mosharraf

21550

Mr. Hasib Mosharraf

21550

Faria Rahman

21550

Husna Ara Begum

21550

 

DIRECTORS

 

Name

Designation

Engr. Mr. Md. Atiqur Rahman

Managing Director

Engr. Mr. A.K.M. Mosharraf Hussain

Director

Faheem Rahman

Director

Mahmuda Begum

Director

Mr. H.T.M. Quader Newaz

Director

Tasmiah Rahman

Director

Mr. Hasnat Mosharraf

Director

Mr. Hasib Mosharraf

Director

Faria Rahman

Director

Husna Ara Begum

Director

 

 

MANAGEMENT

 

Name

:

Engr. Mr. Md. Atiqur Rahman

Job Description

:

Managing Director

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

Name

:

Mr. Habib Ullah.

Job Description

:

Executive Director

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01711540766

 

Name

:

Mr. S. M. Motaher

Job Description

:

Senior Officer (Logistics)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01730323138, 01918077096

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Washing

Ö

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

Ö

Services

 

Others

 

 

Range of Products:

 

Products

:

Jackets, Pants, and Overalls.      

Production Capacity

:

48000 doz. per 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

:

Kappa

Tesco

Zara

C&A

 

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

 

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports

:

USA, Europe

 

Imports

:

China, India

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

BDT 100 Million

 

Paid-up Capital

:

BDT 21550000

 

No. of Shares

:

215500

 

Share Value

:

BDT 100.00 Each

 

Main Assets

:

BDT 238.30 Million

 

FINANCIAL STATEMENT- DETAILED

 

Summary information has been given

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Name of  The Group

:

Standard Group Limited

Subsidiary

:

Nil

Sister Concerns

:

Labtex Ltd.

Amex Limited.

Wear Mag Ltd

Crazy Fashion Ltd

TITCO Bangladesh

Tip Top Fashions Ltd

Standard Insurance Ltd

Standard  Fashions Ltd

The Civil Engineers Ltd.

Burungi Sportswear Ltd

Sterling Designs Limited

Standard Stitches Limited

Barura Textile Products Ltd

Adhunik Poshak Shilpa Ltd

Standard Garments Ind. Ltd.

Shams Styling Wears Limited

Matexport (Bangladesh) Limited

International Trading Services Limited

 

 

BANKING

 

 

Bank Name  

:

Jamuna Bank Ltd.

Bank Address

:

Konabari Branch

BSCIC Industrial Area, Konabari, Gazipur, Bangladesh

Tel: 88-02-9297182, 9297183

 

 

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 Civil Engineer Bhaban, 69, Mohakhali C/A, Dhaka-1212, Bangladesh. It’s situated at Commercial Office 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 66.78

UK Pound

1

INR 92.89

Euro

1

INR 80.74

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 :

DNS

 

 

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.