MIRA INFORM REPORT

 

 

Report No. :

491680

Report Date :

16.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SIMRAN COMPOSITE LIMITED

 

 

Registered Office :

House# 30, Road# 3/F, Sector# 09, Uttara, Dhaka-1230

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

24.06.2010

 

 

Com. Reg. No.:

C-85362

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Manufacturer Exporter and Importer of Cotton Yarn

 

 

No. of Employees :

6000

 

 

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.

 

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Simran Composite Limited

Head Office

:

House# 30, Road# 3/F, Sector# 09, Uttara, Dhaka-1230, Bangladesh

Tel No

:

88-01977672835

Fax No

:

88-02-8955509

E-mail

:

info@mhgoldenjute.com

Website

:

www.mhgoldenjute.com 

Date/ Year of Incorporation

:

24.06.2010

Incorporation No.

:

C-85362

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

 

 

Other Registry & Certification Details

 

Organization Name

:

Bangladesh Textile Mills Association

 

Membership No

:

N/A

 

 

FINANCIALS- SUMMARY

      Year

Turnover/ Sales

 Assets

Income/ (Loss)

30th June, 2017

BDT 496 Million

BDT 1841.36 Million

BDT 27.28 Million

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Alhaj Mohammad Younus Badol

Designation

:

Managing Director

Contract No

:

88-01711628118

 

                                                               Locations Details

Operating Address

:

House# 30, Road# 3/F, Sector# 09, Uttara, Dhaka-1230, Bangladesh

Tel No

:

88-01977672835

Fax No

:

88-02-8955509

E-mail

:

info@mhgoldenjute.com

Website

:

www.mhgoldenjute.com 

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

1600

Sq. ft.

 

 

Type of Office

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Area.

Ö

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

DAG No 534-535, Vadam, Nishatnagar, Tongi, Gazipur-1711, Bangladesh

Tel No

:

Nil

Fax No

:

Nil

 

Branch:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

100

In Factory

:

5900

In Branch

:

N/A

Total

:

6000

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

Names of Shareholders

No. of Share

Country

Mr. Mohammad Younus

55000

Bangladesh.

Mr. Muhammad Abu Talha

15000

Bangladesh.

Mr. Md. Anwarul Islam

15000

Bangladesh.

Mr. Md. Kabir Hossain

15000

Bangladesh.

 

DIRECTORS

 

Name

:

Mr. Mohammad Younus

Designation

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01711628118

 

Name

:

Mr. Muhammad Abu Talha

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Anwarul Islam

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Kabir Hossain

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

MANAGEMENT

 

Name

:

Mr. Mohammad Younus

Job Description

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01711628118

 

Name

:

Mr. Anwar Hossain Ferdous

Job Description

:

Executive Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

88-01711365377

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

Ö

Services

 

Others

 

 

Range of Products:

 

Products

:

Cotton Yarn

Installed Capacity

:

30000 Spindles

Production Capacity

:

7200000 kg.

Last Year Production

:

N/A

Import Products

:

N/A

Export Products

:

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

:

N/A

 

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

 

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports(Country)

:

Europe

 

Imports(Country)

:

India, China

 

Brand Name

:

N/A

Certified

:

N/A

Name of Auditors

:

N/A

Operation Status

:

Active

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 50 Million

 

Paid-up Capital

:

BDT 10000000

 

No. of Shares

:

100000

 

Share Value

:

BDT100.00Each

 

Main Assets

:

BDT 1841.36 Million

 

 

FINANCIAL STATEMENT- DETAILED

 

Summary Information Given.

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Name of  The Group

:

Anon Tex Group

Name of Mother Company

:

Nil

Subsidiary

:

Nil

Sister Concerns

:

Zara Denims Limited

Muskan Spinning Ltd.

Suprov Spinning Limited

Lamisa Spinning Limited

Shob Meher Spinning Ltd.

Juvenile Sweaters Limited

Suprov Rotor Spinning Ltd

M H Golden Jute Mills Ltd

Suprov Label & Accessories

Suprov Thread & Accessories

Suprov Melange Spinning Ltd.

Suprov Composite Knit Limited

Zara Label & Packaging Limited

Galaxy Seaters and Yarn Dyeing Limited

 

 

BANKING

 

Bank Name      

:

Janata Bank Limited

Bank Address

:

Central Branch

110, Motijheel C/A. Dhaka-1000, Bangladesh

 

 

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 House# 30, Road# 3/F, Sector# 09, Uttara, Dhaka-1230, Bangladesh. It’s Residential Area.

 

 

GENERAL COMMENTS

 

The subject company is engaged in Manufacturer, Importer & Exporter. 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 63.92

UK Pound

1

INR 89.55

Euro

1

INR 79.68

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 :

TRU

 

 

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.