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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

493327

Report Date :

23.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

PEAK APPARELS LTD.

 

 

Registered Office :

Vogra National University, Joidevpur, Gazipur, Bangladesh

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

24.08.2004

 

 

Com. Reg. No.:

C-54021

 

 

Legal Form :

Private Co

 

 

Line of Business :

Manufacturer, Exporter, Printing and Dyeing of T Shirts, Polo Shirts, Tank Top.

 

 

No. of Employees :

940

 

 

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 :

Satisfactory

 

 

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

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Peak Apparels Ltd.

Head Office

:

Vogra National University, Joidevpur, Gazipur, Bangladesh.

Tel No

:

88-01818251577

Fax No

:

Nil

E-mail

:

info@peakapparels.com, sazzad@peakapparels.com

Website

:

www.peakapparels.com

Date/ Year of Incorporation

:

24.08.2004

Incorporation No.

:

C-54021

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

Bangladesh Knitwear Manufacturers & Exports  Association

Membership No

:

Nil

 

 

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

     Income

30th June’2016

BDT 446 Million

BDT 238.95 Million

BDT 39.60 Million

30th June’2017

BDT 493 Million

BDT 242.05 Million

BDT 47.35 Million

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Md. Sazzad Amin

Designation

:

Managing Director

Contract No

:

88-01818251577

 

                                                               Locations Details

Operating Address

:

Vogra National University, Joidevpur, Gazipur, Bangladesh.

Tel No

:

88-01818251577

E-mail

:

Nil

Fax No

:

info@peakapparels.com, sazzad@peakapparels.com

Website

:

www.peakapparels.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

1800

Sq. ft.

 

 

Type of Office :

  :       Commercial Area.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Vogra National University, Joidevpur, Gazipur, Bangladesh.

Tel No

:

N/A

Fax No

:

N/A

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

45000

Sq. ft.

 

Branch:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

25

In Factory

:

915

In Branch:

:

N/A

Total

:

940

Details:

 

                    

 

 

 

 

 

 

 

OWNERSHIP/SHAREHOLDERS

 

 

Names of Shareholders

No. of Share

Country

Mr. Kabir Ahmad

20000

Bangladesh.

Mrs. Ameena Ahmad

36000

Bangladesh.

Mr. Md. Sazzad Amin

8000

Bangladesh.

Mr. Emdadul Haque Chowdhury

8000

Bangladesh.

Mrs. Rummana Chowdhury

8000

Bangladesh.

 

 

DIRECTORS

 

1.      

 

 

 

Name

:

Mr. Md. Sazzad Amin

Designation

:

Chairman

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

2.      

 

 

 

Name

:

Mr. Kabir Ahmad

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

3.      

 

 

 

Name

:

Mrs. Ameena ahmad

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

4.      

 

 

 

Name

:

Mr. Emdadul Haque Chowdhury

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

5.

 

 

 

Name

:

Mrs. Rummana Chowdhury

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

MANAGEMENT

 

Name

:

Mr. Md. Sazzad Amin

Job Description

:

Managing Director

Nationality

:

Bangladeshi

Email address

:

sazzad@peakapparels.com

Other details

:

88-01818251577

 

 

BUSINESS OPERATIONS

 

 

Nature of Activity       :

Manufacturer

Ö

Printing

Ö

Dyeing

Ö

Distributor

 

 

 

 

 

 

Exporter

Ö

Importer

Ö

Services

 

Others

 

 

 

Range of Products:

 

Products

:

T Shirts, Polo Shirts, Tank Top.

Production Capacity

:

Basic: 20,000 Pcs Per Day, Non-Basic: 12,000 Pcs Per Day

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

:

MGB

Target

Norwes

TV Mania

 

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

 

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports(Country)

:

Europe, USA

 

Imports(Country)

:

China, India.

 

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 8000000

 

No. of Shares

:

80000

 

Share Value

:

BDT 100.00 Each

 

Main Assets

:

BDT 242.05 Million

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Nil

Subsidiary

:

Nil

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

Dhaka Bank Ltd.

Bank Address

:

Board Bazar Branch.

Dag# 361, Mouza# 84 (1st Floor), Board Bazar, Gazipur, Bangladesh

Tel: 88-02-9293595-6

Fax: 88-02-9293595

 

Bank Name  

:

Mercentile Bank Ltd.

Bank Address

:

Board Bazar Branch.

Board Bazar, Gazipur, Bangladesh

Tel: 88-02-9291604, 9293639

Fax: 88-02-9291660

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 factory which is situated at Vogra National University, Joidevpur, Gazipur, Bangladesh. It is Situated at Commercial Area.

 

 

GENERAL COMMENTS

The subject company maintains acceptable business volume. We recommended that Credit can proceed normally in Moderate amount.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.05

UK Pound

1

INR 90.41

Euro

1

INR 79.82

BDT

1

INR 0.78

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

KET

                                                


 

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.