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MIRA INFORM REPORT
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Report No. : |
490331 |
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Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
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Name : |
NIPPON GARMENTS
INDUSTRIES LIMITED |
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Registered Office : |
Abedin Tower (8th Floor), 35, Kemal Ataturk Avenue, Banani, Dhaka-1213 |
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Country : |
Bangladesh |
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Date of Incorporation : |
05.05.1984 |
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Com. Reg. No.: |
C-12076 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer and Exporter of Jacket, Pant, Jogging & Track Suit,
Trouser. |
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No. of Employees : |
600 |
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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 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.
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Source
: CIA |
COMPANY
NAME
NIPPON GARMENTS
INDUSTRIES LIMITED
EXECUTIVE
SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Nippon Garments Industries Limited |
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Head Office |
: |
Abedin Tower (8th Floor), 35, Kemal Ataturk Avenue, Banani, Dhaka-1213, Bangladesh |
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Tel No |
: |
88-02-9820871, 982087288, 9820877, 9820878 |
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Fax No |
: |
88-02-9820874 |
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E-mail |
: |
info@abcdingroup.com |
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Website |
: |
www.abedingroup.com |
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Date/ Year of Incorporation |
: |
05-May-1984 |
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Incorporation No. |
: |
C-12076 |
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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 |
Other Registry & Certification Details
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Value Added Tax(VAT) No |
: |
18051001892 |
Date of Registration |
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N/A |
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Issuing Authority |
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National Board of Revenue |
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FINANCIALS-
SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income/
(Loss) |
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30th June’2016 |
BDT 456 Million |
BDT 43.95 Million |
BDT 21.30 Million |
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30th June’2017 |
BDT 517 Million |
BDT 49.40 Million |
BDT 26.82 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Shahadat
Hossain |
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Designation |
: |
General Manager
(Group) |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
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Abedin Tower (8th Floor), 35, Kemal Ataturk Avenue, Banani, Dhaka-1213, Bangladesh |
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Tel No |
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88-02-9820871, 982087288, 9820877, 9820878 |
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Fax No |
: |
88-02-9820874 |
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E-mail |
: |
info@abcdingroup.com |
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Website |
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www.abedingroup.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
1400 |
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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93, Auchpara, Tongi, Gazipur, Bangladesh. |
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Tel No |
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88-02-9802789, 9815495, 9815496, 9815497 |
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Fax No |
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N/A |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
4 |
Acres. |
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Branch: |
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Address |
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Nil |
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Tel No |
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Nil |
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Fax No |
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Nil |
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Employee: |
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No. of Employees |
In Office |
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25 |
In Factory |
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575 |
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In Branch: |
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- |
Total |
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600 |
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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. Abedin Mohammad Nazimuddin Bhuian |
5500 |
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Mr. A. M. Amir Uddin Bhuiyan |
4220 |
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Fatema-Tuz-Zohura |
280 |
DIRECTORS
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Name |
Designation |
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Mr. Abedin Mohammad Nazimuddin Bhuian |
Managing Director |
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Mr. A. M. Amir Uddin Bhuiyan |
Director |
MANAGEMENT
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Name |
: |
Mr. Abedin
Mohammad Nazimuddin Bhuian |
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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 |
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N/A |
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Name |
: |
Mr. Shahadat
Hossain |
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Job Description |
: |
General Manager
(Group) |
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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 |
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N/A |
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Name |
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Mr. Shahabuddin |
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Job Description |
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Manager
(Commercial) |
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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 |
: |
88-01678599306 |
BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Range of
Products: |
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Products |
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Jacket, Pant, Jogging & Track Suit,
Trouser. |
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Production Capacity |
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2.0 Million Pieces per Year |
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Last Year
Production |
: |
N/A |
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 |
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Cash |
Ö |
Others |
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Credit : |
Ö |
30 days |
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60 days |
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90 days |
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days |
DETAILED
DATA
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Trade Reference & Related Parties |
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Overseas Clients |
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Peter Storm JJB Sports C&A Dickies Zara Inditex Pull & Bears H&M |
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Local Clients |
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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 |
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UK, USA, Spain |
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Imports |
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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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N/A |
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Auditors |
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N/A |
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Operation Status |
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Active |
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Member |
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Bangladesh Garments Manufacturer &
Exporters Association |
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CAPITAL
STRUCTURE
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Authorized Capital |
: |
BDT 5 Million |
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Paid-up Capital |
: |
BDT |
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No. of Shares |
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10000 |
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Share Value |
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BDT100.00Each |
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Main Assets |
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BDT 49.40 Million |
ASSOCIARES/ SUBSIDIARIES/ RELATED PARTIES
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Sister Concerns |
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Swapan Washing Ltd. Ali International Co. Abedin Properties Ltd. |
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Subsidiary |
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Nil |
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Name of The Group |
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Abedin Group of Industries |
BANKING
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Bank Name
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Islami Bank Bangladesh Ltd |
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Bank Address |
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Local Office AD Branch 75, Motijheel C/A, Dhaka-1000, Bangladesh Tel: 88-02-9571201-2, 9552897 Fax: 88-02-9561105, 9561995 |
ADVERSE
DATA MONITORING
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Dishonored Checks |
:
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No Record Found |
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Debt |
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No Record Found |
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Litigation |
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Clear |
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Performance Defaults |
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No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
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No Record Found |
SITE
VISIT COMMENTARY
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Our representative visited the subject company Head Office which is
situated at Abedin Tower (8th Floor), 35, Kemal Ataturk Avenue, Banani,
Dhaka- 1213, Bangladesh. Its office is situated at semi-Commercial. |
GENERAL
COMMENTS
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The subject company is reputed company in this line of business. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.14 |
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1 |
INR 89.50 |
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Euro |
1 |
INR 79.43 |
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BDT |
1 |
INR 0.77 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
NIT |
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 |
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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.