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MIRA
INFORM REPORT
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Report No. : |
492203 |
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Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
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Name : |
AMAN TEX LTD |
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Registered Office : |
House # 2, Ishakha Avenue, Sector # 6, Uttara, Dhaka-1230 |
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Country : |
Bangladesh |
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Date of Incorporation : |
22.08.2004 |
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Com. Reg. No.: |
C-53999 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Dyeing, Exporter and Importer of T-Shirts, Polo Shirts, Tank Top, Trousers, Leggings, Bodies For New Born Baby, Top Bottom Set, Hoody Jackets. |
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No. of Employees : |
5047 |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Aman Tex
Ltd |
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Head Office |
: |
House # 2, Ishakha Avenue, Sector # 6, Uttara, Dhaka-1230, Bangladesh |
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Tel No |
: |
88-02-7911016, 7911691-3 |
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Fax No |
: |
Nil |
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E-mail |
: |
info@amangroupbd.com |
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Website |
: |
www.amantexbd.com |
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Date/ Year of Incorporation |
: |
22.08.2004 |
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Incorporation No. |
: |
C-53999 |
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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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Organization
Name |
: |
Bangladesh Knitwear
Manufacturers & Exports
Association |
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Membership
No |
: |
1631 |
FINANCIALS- SUMMARY |
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Year |
Turnover/
Sales |
Assets |
Income |
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30th June, 2016 |
BDT
2956 Million |
BDT
355.92 Million |
BDT
171.97 Million |
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30th June, 2017 |
BDT
3821 Million |
BDT
381.75 Million |
BDT
192.60 Million |
FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Atiqur Rahman |
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Designation |
: |
Senior
Manager(Commercial) |
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Contract No |
: |
88-01755675119 |
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Locations Details |
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Business Address |
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House # 2, Ishakha Avenue, Sector # 6, Uttara, Dhaka-1230, Bangladesh |
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Tel No |
: |
88-02-7911016, 7911691-3 |
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Fax No |
: |
Nil |
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E-mail |
: |
info@amangroupbd.com |
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Website |
: |
www.amantexbd.com |
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Location : |
:
Owned |
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Rented |
Ö |
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Leased |
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Area |
3600 |
Sq. ft. |
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Type of
Office : |
: Commercial Office Bldg. |
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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. |
Ö |
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Factory: |
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Address |
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Boira, Girachala, Sherpur, Gazipur, Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Registered Address: |
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Address |
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Ali Bhavan (5th Floor), 9 Rajuk
Avenue, Motijheel C/A, Dhaka-1000, Bangladesh. |
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Tel No |
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88-02- 9563066, 9578365 |
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Fax No |
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88-02-9578366 |
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Employee: |
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No. of
Employees |
In Office |
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75 |
In Factory |
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4972 |
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In Branch: |
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N/A |
Total |
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5047 |
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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. Md. Rafiqul Islam |
1000000 |
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Md. Shofiqul Islam |
385000 |
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Md. Toufiqul Islam |
500000 |
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Ms. Mukta Islam |
120000 |
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Md. Toriqul Islam |
10000 |
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Aman Breeders Ltd. |
400000 |
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Aman Poultry and Hatchery
Ltd. |
400000 |
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Mrs. Sazeda Islam |
5000 |
DIRECTORS
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Name |
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Mr. Md. Rafiqul Islam |
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Designation |
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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 |
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Md. Shofiqul Islam |
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Designation |
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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 |
: |
Md. Toufiqul Islam |
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Designation |
: |
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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MANAGEMENT
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Name |
: |
Mr. Md. Rafiqul Islam |
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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. Atiqur Rahman |
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Job Description |
: |
Senior
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 |
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N/A |
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Name |
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Mr. Jashim Uddin |
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Job Description |
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Asst. 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 |
: |
N/A |
BUSINESS OPERATIONS |
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Nature of
Activity : |
Manufacturer |
Ö |
Dyeing |
Ö |
Dealer |
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Distributor |
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Exporter |
Ö |
Importer |
Ö |
Services |
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Others |
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Range of
Products: |
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Products |
: |
T-Shirts, Polo Shirts, Tank Top, Trousers, Leggings,
Bodies For New Born Baby, Top Bottom Set, Hoody Jackets, Etc. |
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Production
Capacity |
: |
Knitting 15 MT per day Dyeing 20 MT per day Garments 1550 Sewing Machines |
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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 |
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Zara, Tango, Sicem, Daytex, Team etc. |
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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(Country) |
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USA, Europe |
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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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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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CAPITAL STRUCTURE |
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Authorized
Capital |
: |
BDT 200,00,00,000.00 |
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Paid-up
Capital |
: |
BDT 2,82,00,000.00 |
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No. of
Shares |
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28,20,000 |
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Share
Value |
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BDT10.00Each |
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Main
Assets |
: |
BDT 381.75
Million |
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FINANCIAL STATEMENT- DETAILED |
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Summary information given. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Name of The Group |
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Aman Group Ltd. |
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Name of Mother Company |
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Nil |
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Affiliates |
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Aman Breeders limited Aman Poultry& Hatchery Ltd |
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Sister Concerns |
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Aman Feed Ltd. Anwar Ispt Limited Aman Associates Ltd. Juvenile Construction R.S & T International Aman Jute Fibrous Ltd A.M. Cold Storage Ltd Aman Cold storage Ltd. Aman Cement Mills Ltd. Aman Seeds Storage Ltd Aman Tissue Culture Ltd Anwara Textile Mills Ltd Brothers Cement Mills Ltd. Aman Trading Corporation Islam Brothers & Company Aman Food &Beverage Ltd Aman Cotton Fibrous Limited. Aman Agro Industries Limited Juvenlie Trade International Ltd Anwara Mannan Textile Mills Ltd Aman Plant Tissue Culture Laboratories |
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BANKING
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Bank Name |
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National Bank Ltd. |
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Bank Address |
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Dilkusha
Branch 18
Dilkusha C/A, Dhaka-1000, Bangladesh |
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Bank Name |
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Al Arafa Islami Bank Ltd. |
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Bank Address |
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Dilkusha Branch 63, Dilkusha C/A (Ground Floor), Dhaka-1000, Bangladesh Tel: 88-02-9559063, 9570000 Fax: 88-02-9554663 |
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 |
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Our representative visited the subject company Head
Office which is situated at House # 2, Ishakha Avenue, Sector # 6, Uttara,
Dhaka-1230, Bangladesh |
GENERAL COMMENTS |
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The subject company is
engaged in manufacturer & Exporter of Readymade garments. 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 64.28 |
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1 |
INR 89.02 |
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Euro |
1 |
INR 78.93 |
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BDT |
1 |
INR 0.77 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
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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 |
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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.