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MIRA INFORM REPORT
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Report No. : |
486208 |
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Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
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Name : |
ANOWARA KNIT COMPOSITE LIMITED |
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Registered Office : |
31/2, Issha Khan Road, Narayanganj-1400 |
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Country : |
Bangladesh |
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Date of Incorporation : |
01.01.2006 |
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Com. Reg. No.: |
C-60123 |
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Legal Form : |
Private Co. |
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Line of Business : |
Subject is engaged in Manufacturer, Exporter and Importer of T-shirts, Polo Shirts. |
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No. of Employees : |
1625 |
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 : |
Slow but Correct |
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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 |
IDENTIFICATION DETAILS
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Correct company Name |
: |
Anowara Knit Composite
Limited |
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Head Office |
: |
31/2, Issha Khan Road, Narayanganj-1400, Bangladesh |
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Tel No |
: |
88-02-7641618 |
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Fax No |
: |
Nil |
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E-mail |
: |
commercial2@
anowaragroup.com, anowaragroup@hotmail.com, |
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Website |
: |
www.anowaragroup.com,
www.bdtradeinfo.com |
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Date/ Year of
Incorporation |
: |
01.01.2006 |
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Incorporation No. |
: |
C-60123 |
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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) |
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LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
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Registrar
of Joint Stock Companies & Firms
City Corporation Municipal Administration Union Council |
Other
Registry & Certification Details
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Organization
Name |
: |
Bangladesh Garments
Manufacturer & Exporters Association Bangladesh Knitwear
Manufacturers & Exports Association |
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Membership
No |
: |
BKMEA: 1096 BGMEA: 6204 |
FINANCIALS-
SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income/
(Loss) |
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30th June, 2016 |
BDT 591 Million |
BDT 192.21 Million |
BDT 14.20 Million |
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30th June, 2017 |
BDT 613 Million |
BDT 213.80 Million |
BDT 20.35 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr.
Mahfazur Rahman (Uzzal) |
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Designation |
: |
Manager
(Commercial) |
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Contract No |
: |
88-01713240035 |
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Locations Details |
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Operating Address |
: |
31/2, Issha Khan Road, Narayanganj-1400, Bangladesh |
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Tel No |
: |
88-02-7641618 |
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Fax No |
: |
Nil |
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E-mail |
: |
commercial2@
anowaragroup.com, anowaragroup@hotmail.com, |
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Website |
: |
www.anowaragroup.com,
www.bdtradeinfo.com |
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Location : |
:
Owned |
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Rented |
Ö |
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Leased |
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Area |
1200 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
Ö |
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Semi-commercial Area. |
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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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Mulayed, Mawna, Sreepur,
Gazipur, Bangladesh |
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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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Branch: |
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Address |
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City Heart Shopping
Complex (Suit-417, 3rd Floor), 67, Naya Palton (Vip Road), Dhaka-1000, Bangladesh |
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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
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In Office |
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75 |
In Factory |
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1525 |
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In Branch |
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25 |
Total |
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1625 |
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OWNERSHIP/SHAREHOLDERS
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Names of
Shareholders |
No. of Share |
Country |
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Mr. Md. Mahbub Alam |
1000 |
Bangladesh. |
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Mr. Md. Mahfuz Alam |
1000 |
Bangladesh. |
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Mr. Md. Mansur Ahmed |
1000 |
Bangladesh. |
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Mr. Md. Mosabber Ahmed |
1000 |
Bangladesh. |
DIRECTORS
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Name |
: |
Mr.
Md. Mahfuz Alam |
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Designation |
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Chairman |
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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.
Md. Mahbub Alam |
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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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Mr.
Md. Mansur Ahmed |
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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 |
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Mr.
Md. Mosabber Ahmed |
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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 |
MANAGEMENT
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Name |
: |
Mr.
Md. Mahbub Alam |
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Job Description |
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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 |
: |
N/A |
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Name |
: |
Mr.
Mahfazur Rahman (Uzzal) |
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Job Description |
: |
Manager
(Commercial) |
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Nationality |
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Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
88-01713240035 |
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 |
Ö |
Services |
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Others |
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Range of
Products: |
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Products |
: |
T-shirts, Polo
Shirts |
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Production Capacity |
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1000000 |
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Last Year Production |
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N/A |
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Import Products |
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N/A |
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Export Products |
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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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N/A |
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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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Europe |
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Imports(Country) |
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India, China |
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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 |
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BDT 30 Million |
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Paid-up Capital |
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BDT 40,00,000 |
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No. of
Shares |
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4,000 |
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Share
Value |
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BDT 1000.00 Each |
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Main Assets |
: |
BDT 213.80 Million |
FINANCIAL
STATEMENT- DETAILED
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Summary Information has been
Given. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Name of The Group |
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Anowara Group |
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Name of Mother Company |
: |
Nil |
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Subsidiary |
: |
Nil |
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Sister Concerns |
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Anowara Styles Ltd. Anowara Cotton Ltd Anowara Knitting Ltd Anowara Fashions Ltd Uttara Fabrics (Pvt.) Ltd Anowara Fabrics (Pvt.) Ltd |
BANKING
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Bank Name |
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Shahjalal
Islami Bank Limited |
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Bank Address |
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Narayangonj Branch Osman Tower, 56/1, S.M.
Maleh Road, Narayangonj-1400, Bangladesh Tel: 88-02-7635172,
01755556116, 01755556216 Fax: 88-02-7635173 |
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
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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
Our representative visited the subject company Head Office which is situated at 31/2, Issha Khan Road, Narayanganj-1400, Bangladesh. It’s situated at a Commercial Area.
GENERAL
COMMENTS
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The subject company is engaged in Manufacturer,
Importer & Exporter. It is reputed company in this line of business. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
INR 63.41 |
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|
1 |
INR 87.17 |
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Euro |
1 |
INR 77.44 |
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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
: |
PRA |
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Report Prepared
by : |
DNS |
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.