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MIRA
INFORM REPORT
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Report No. : |
486749 |
|
Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ALSALAM FABRICS (PRIVATE) LTD |
|
|
|
|
Registered Office : |
RM Center, 119, SK Mujib Road, Agrabad,
Chittagong-4100, |
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|
Country : |
Bangladesh |
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|
Date of Incorporation : |
05.02.1986 |
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Com. Reg. No.: |
CH-15270 |
|
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|
Legal Form : |
Private Co |
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Line of Business : |
Manufacturer, Exporter and Importer of Terry Towel, Face, Guest,
Kitchen, Hand, Institutional, Bath, Bath Sheet, Beach, Bath Mats |
|
|
|
|
No. of Employees : |
300 |
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 |
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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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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 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.
|
Source
: CIA |
EXECUTIVE SUMMARY
|
IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Alsalam
Fabrics (Private) Ltd |
|
Head Office |
: |
RM Center, 119, SK Mujib Road, Agrabad,
Chittagong-4100, Bangladesh |
|
Tel No |
: |
88-031-711292
|
|
Fax No |
: |
Nil |
|
E-mail |
: |
info@alsalamfabrics.com,
alsalam@global.net, rmintl@rmibd.com |
|
Website |
: |
www.alsalamfabrics.com |
|
Date/ Year of Incorporation |
: |
05.02.1986 |
|
Incorporation
No. |
: |
CH-15270 |
|
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 |
FINANCIALS- SUMMARY
|
Year |
Turnover/ Sales |
Assets |
Income/ (Loss) |
|
30th June,
2016 |
BDT 282 Million |
BDT 48.63 Million |
BDT 15.85 Million |
|
30th June,
2017 |
BDT 323 Million |
BDT 57.10 Million |
BDT 19.20 Million |
FULLCHECK REPORT DETAILS
|
Information Parted By |
||
|
Name |
: |
Mr. Julhas
Uddin Ahmed |
|
Designation |
: |
Deputy
Manager (Finance) |
|
Contract No |
: |
88-01755637180,
01844180801 |
|
Locations Details |
||
|
Operating Address |
: |
RM Center, 119, SK Mujib Road, Agrabad,
Chittagong-4100, Bangladesh |
|
Tel No |
: |
88-031-711292 |
|
Fax No |
: |
Nil |
|
E-mail |
: |
info@alsalamfabrics.com,
alsalam@global.net, rmintl@rmibd.com |
|
Website |
: |
www.alsalamfabrics.com |
|
Location
: |
: Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
14,00 |
Sq. ft. |
|
Type
of Office |
: Commercial Area. |
Ö |
|
Semi-commercial office Bldg. |
|
|
|
Retail shop |
|
|
Industrial Park |
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|
|
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Business Center |
|
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Home Office |
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|
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Residential Bldg. |
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Factory: |
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|
|
|
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|
Address |
: |
Plot #39-40,
Road #04, Sector #01, CEPZ, Chittagong-4223, Bangladesh |
|
Tel No |
: |
88-031-740726-27,
727017, 2520741, 2520743 |
|
Fax No |
: |
88-031-710042,
740009 |
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Branch: |
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|
|
|
|
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|
Address |
: |
Nil |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
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Employee: |
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|||||||
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|||||||
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No.
of Employees |
In Office |
: |
70 |
In Factory |
: |
230 |
||
|
In Branch |
: |
N/A |
Total
|
: |
300 |
|||
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Details: |
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|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
Names
of Shareholders |
No.
of Share |
Country |
|
Mrs. Rokeya Akther |
90,000 |
Bangladesh. |
|
Mr. Md. Mozharul Hoque |
90,000 |
Bangladesh. |
DIRECTORS
|
Name |
: |
Mrs. Rokeya
Akther |
|
Designation |
: |
Chairman |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
||
|
Name |
: |
Mr. Md.
Mozharul Hoque |
|
Designation |
: |
Managing
Director |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
MANAGEMENT
|
Name |
: |
Mr. Md.
Mozharul Hoque |
|
Job Description |
: |
Managing
Director |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mr. Julhas
Uddin Ahmed |
|
Job Description |
: |
Deputy
Manager (Finance) |
|
Nationality |
: |
Bangladeshi. |
|
Email address |
: |
N/A |
|
Other details |
: |
88-01755637180,
01844180801 |
BUSINESS OPERATIONS
|
Nature
of Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
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Exporter |
Ö |
Importer |
Ö |
Services |
|
Others |
|
|
Range
of Products: |
||
|
|
||
|
Products |
: |
Terry Towel, Face, Guest, Kitchen,
Hand, Institutional, Bath, Bath Sheet, Beach, Bath Mats
|
|
Production
Capacity |
: |
N/A |
|
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 |
|
Cash |
Ö |
Others |
|
|
|||
|
|
Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
DETAILED DATA
|
Trade Reference & Related Parties |
: |
Overseas Clients |
: |
N/A |
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||
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Local Clients |
: |
N/A |
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||||
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Overseas Suppliers |
: |
N/A |
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||||
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Local Suppliers |
: |
N/A |
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||||
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Trade Markets |
: |
Exports(Country) |
: |
Europe, USA, Canada, Japan and Australia
& Gulf |
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||
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Imports(Country) |
: |
India, China |
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||||
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Brand Name |
: |
N/A |
|||||
|
Certified |
: |
N/A |
|||||
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Name of Auditors |
: |
N/A |
|||||
|
Operation Status |
: |
Active |
|||||
CAPITAL STRUCTURE
|
Authorized
Capital |
: |
BDT 30 Million |
|
|
||
|
Paid-up
Capital |
: |
BDT 18000000 |
|
|
||
|
No.
of Shares |
: |
180,000 |
|
|
||
|
Share
Value |
: |
BDT 100.00 Each |
|
|
||
|
Main
Assets |
: |
BDT 57.10 Million |
FINANCIAL STATEMENT- DETAILED
|
Financial Summary Information has been
Given. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
Name of The Group |
: |
R.M. Group |
|
Name of Mother Company |
: |
Nil |
|
Subsidiary |
: |
Nil |
|
Sister Concerns |
: |
RM International Glasstech Limited R. M. Interlining Ltd Glasstech International R. M. Fabitech Limited MARS Resources Limited Sonali Cotton Mills Limited Sea-Shore Apparels Limited Al-Salam Fabrics (Pvt.) Limited |
BANKING
|
Bank Name |
: |
Mercentile
Bank Ltd. |
|
Bank Address |
: |
Sheikh Mujib
Road Branch, 304, Sk.
Mujib Road, Chittagong-4217, Bangladesh Tel:
88-031-2514236, 2524126-7, 2514236, 2524126-7, 01730013454, 01729093257 Fax:
88-031-2514235 |
|
|
||
|
Bank Name |
: |
IFIC Bank Ltd. |
|
Bank Address |
: |
Agrabad
Branch, 30, Agrabad
C/A, Chittagong-4217, Bangladesh Tel :
88-031-710531, 712347, 712348, 717937, 01713229814, 01678010085 Fax :
88-031-710078 |
|
Bank Name |
: |
NCC Bank |
|
Bank Address |
: |
Agrabad
Branch, Rafique Tower
(1st & 2nd Floor), 92, Agrabad C/A,
Chittagong-4217, Bangladesh Tel:
88-031-712219, 713336, 713440, 721045 Fax:
88-031-721045 |
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 RM Center, 119, SK Mujib Road,
Agrabad, Chittagong-4100, Bangladesh It’s situated at a Commercial Area. |
GENERAL COMMENTS
|
The subject company is engaged in Manufacturer,
Importer & Exporter. It is reputed company in this line of business. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.98 |
|
|
1 |
INR 88.13 |
|
Euro |
1 |
INR 78.35 |
|
BDT |
1 |
INR 0.77 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.