|
|
|
MIRA INFORM REPORT
|
Report No. : |
489184 |
|
Report Date : |
01.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
KDS TEXTILE MILLS LTD |
|
|
|
|
Registered Office : |
1, Haji Amir Ali Chy. Road, Khatungonj,
Chittagong |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
07.12.1953 |
|
|
|
|
Com. Reg. No.: |
CH-1506 |
|
|
|
|
Legal Form : |
Public (but not listed) |
|
|
|
|
Line of Business : |
Subject is engaged in Manufacturer, Exporter and Importer of Knit Fabrics. |
|
|
|
|
No. of Employees : |
500 |
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 surpassed $25 billion in 2016. The sector continues to grow, despite a series of high-profile factory accidents that have killed more than 1,000 workers and crippling strikes, including a nationwide transportation blockade orchestrated by the political opposition during the first several months of 2015. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $15 billion and 8% of GDP in 2015 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.
|
Source
: CIA |
IDENTIFICATION DETAILS
|
||
|
Correct company Name |
: |
KDS Textile Mills Ltd |
|
Head Office |
: |
251-252-255, Baizid Bostami Road, Nasirabad
I/A, Chittagong, Bangladesh. |
|
Tel No |
: |
88-031-681240-4, 682474-8 |
|
Fax No |
: |
88-031-681398, 682836 |
|
E-mail |
: |
info@kdsgroup.net,
textile@kdsgroup.net |
|
Website |
: |
www.kdsgroup.net |
|
Date of Established |
: |
07.12.1953 |
|
Incorporation No. |
: |
CH-1506 |
|
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 |
: |
3763 |
FINANCIALS-
SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
|
30th June’2016 |
BDT 825 Million |
BDT 1250.25 Million |
BDT 31.90 Million |
|
30th
June’2017 |
BDT 956 Million |
BDT 1281.73 Million |
BDT 34.20 Million |
FULLCHECK
REPORT DETAILS
|
Information Parted By |
||
|
Name |
: |
Mr.
Khalilur Rahman
|
|
Designation |
: |
Managing
Director |
|
Contract No |
: |
N/A |
|
Locations
Details |
||
|
Operating Address |
: |
251-252-255, Baizid Bostami Road, Nasirabad I/A, Chittagong, Bangladesh. |
|
Tel No |
: |
88-031-681240-4, 682474-8 |
|
Fax No |
: |
88-031-681398, 682836 |
|
E-mail |
: |
info@kdsgroup.net,
textile@kdsgroup.net |
|
Website |
: |
www.kdsgroup.net |
|
Location : |
:
Owned |
|
Rented |
|
|
Leased |
Ö |
Area |
2400 |
Sq. ft. |
|
Type of Office : |
: Commercial Office area |
Ö |
|
Semi-commercial office Bldg. |
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential Bldg. |
|
|
|
|
|
|
Factory: |
|
|
|
|
|
|
|
Address |
: |
251-252-255, Baizid Bostami
Road, Nasirabad I/A, Chittagong, Bangladesh. |
|
Tel No |
: |
N/A |
|
Fax No |
: |
N/A |
|
Owned |
|
|
Rented |
|
|
Leased |
Ö |
Area |
50,000 |
Sq. ft. |
|
Registered Address: |
||
|
|
|
|
|
Address |
: |
1, Haji Amir Ali Chy. Road,
Khatungonj, Chittagong, Bangladesh. |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Branch: |
|
|
|
|
|
|
|
Address |
: |
House# 63, Road# 04,
Block# C, Banani, Dhaka-1213, Bangladesh. |
|
Tel No |
: |
88-02-9883279, 8821722 |
|
Fax No |
: |
88-02-8825218 |
|
Employee: |
|
||||||
|
|
|
||||||
|
No. of Employees
|
In Office |
: |
80 |
In Factory |
: |
415 |
|
|
In Branch: |
: |
5 |
Total |
: |
500 |
||
OWNERSHIP/SHAREHOLDERS
|
Names of Shareholders |
No. of Share |
|
Mr. Khalilur Rahman
|
45500 |
|
Mr. Salim Rahman |
1500 |
|
Mr. S. M. Shameem Iqbal |
1000 |
|
Mrs. Farida Akther |
500 |
|
Miss Tahmina Akther |
500 |
|
Ms. Hasina Akther |
500 |
|
K.I. Y. Steel Industries Ltd |
175000 |
DIRECTORS
|
Name |
Designation |
|
Mr. Khalilur Rahman
|
Managing Director |
|
Mr. Salim Rahman |
Director |
|
Mr. S. M. Shameem Iqbal |
Director |
|
Miss Tahmina Akther |
Director |
MANAGEMENT
|
Name |
: |
Mr.
Khalilur Rahman
|
|
Job Description |
: |
Managing
Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mr. Monir Hossain |
|
Job Description |
: |
Executive Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mr.
Md. Musa Chowdhury |
|
Job Description |
: |
Company
Secretary & Commercial Officer |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mr.
Syed Mohd Kutubuddin |
|
Job Description |
: |
General
Manager (Commercial) |
|
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 |
: |
Knit Fabrics. |
|
Production Capacity |
: |
N/A |
|
Last Year Production |
: |
N/A |
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 |
: |
Fila Target K-mart Wal-Mart Globe trotter. |
|
||
|
Local Clients |
: |
N/A |
|
||||
|
Overseas Suppliers |
: |
N/A |
|
||||
|
Local Suppliers |
: |
N/A |
|
||||
|
Trade Markets |
: |
Exports(Country) |
: |
USA, Europe |
|
||
|
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 600 Million |
|
|
||
|
Paid-up Capital |
: |
BDT 22450000 |
|
|
||
|
No. of
Shares |
: |
224500 |
|
|
||
|
Share
Value |
: |
BDT 100.00 Each |
|
|
||
|
Main Assets |
: |
BDT 1281.73 Million |
FINANCIAL
STATEMENT- DETAILED
|
SC has submitted their Financial
summary information to local registry office |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
Name of The Group |
: |
KDS Group |
|
Subsidiary |
: |
N/A |
|
Sister Concerns |
: |
KDS Energy Ltd KDS Fashion Ltd. KDS Apparels Ltd KDS Minerals Ltd KDS Technologies KDS QAC Limited KDS Properties Ltd. K.Y. Steel Mills Ltd Steel Accessories Ltd. KDS Spinning Mills Ltd. KDS Re-Rolling Mills Ltd KDS Printing Industries Ltd. KDS Knitting Industries Ltd. KDS Communication Limited. KDS Garments Industries Ltd. K. Y. C. R. Coil Industries Ltd KDS Paper and Board Mills Ltd KDS Yarn Dyeing Industries Ltd. KDS Cotton Poly Thread Ind Ltd. KDS Hi-Tech Garments (BD) Ltd KDS Packaging Industries Limited. KDS Information Technologies Co. & Ltd |
BANKING
|
Bank Name |
: |
Prime
Bank Ltd |
|
Bank Address |
: |
Agrabad Branch Chittagong Chamber House,
38, Agrabad C/A, Chittagong-4100, Bangladesh. Tel: 88-031-727018,
716724-5 Fax: 88-031-718971 |
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 251-252-255, Baizid Bostami Road, Nasirabad I/A, Chittagong,
Bangladesh. It is situated at a Commercial Area. |
GENERAL
COMMENTS
|
The subject company is a well-known reputed company in
Bangladesh. Their products popular to the local customers. So day by day the subject company is
increasing their goodwill as well as its financial condition. So, we
recommend that credit may proceed in moderate amounts. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.68 |
|
|
1 |
INR 90.35 |
|
Euro |
1 |
INR 79.21 |
|
BDT |
1 |
INR 0.77 |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.