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MIRA
INFORM REPORT
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Report No. : |
487457 |
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Report Date : |
20.01.2018 |
IDENTIFICATION DETAILS
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Name : |
DAEYU BANGLADESH LTD. |
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Registered Office : |
Plot# 68/1(4th Floor), Gulshan Avenue,
Gulshan-1, Dhaka-1212, |
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Country : |
Bangladesh |
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Date of Incorporation : |
20.11.1996 |
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Com. Reg. No.: |
C- 31804 |
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Legal Form : |
Private Co |
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Line of Business : |
Manufacturer, Dying and Exporter of Acrylic Yarn, Acrylic/Wool
Yarn, Cotton Yarn, Acrylic/Cotton Yarn, Spinning, Yarn, Sweater |
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No. of Employees : |
1812 |
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 : |
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) |
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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 |
: |
Daeyu
Bangladesh Ltd. |
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Head Office |
: |
Plot# 68/1(4th Floor), Gulshan Avenue,
Gulshan-1, Dhaka-1212, Bangladesh. |
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Tel No |
: |
88-02-9885771-2,
9856963-4 |
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Fax No |
: |
88-02-9843454 |
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E-mail |
: |
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Website |
: |
www.uniongroup.com |
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Date/ Year of Incorporation |
: |
20.11.1996 |
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Incorporation
No. |
: |
C- 31804 |
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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) ________________ |
|
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
Textile Mills Association |
FINANCIALS- SUMMARY
|
Year |
Turnover/ Sales |
Assets |
Income |
|
31st December, 15 |
BDT 2528.00 Million |
BDT 1710.63 Million |
BDT 81.90 Million |
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31st December, 16 |
BDT 1963.21 Million |
BDT 1878.90 Million |
BDT 37.51 Million |
FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Masfique
Murad |
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Designation |
: |
Manager
(Commercial) |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
: |
Plot# 68/1(4th Floor), Gulshan Avenue, Gulshan-1,
Dhaka-1212, Bangladesh. |
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Tel No |
: |
88-02-9885771-2,
9856963-4 |
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Fax No |
: |
88-02-9843454 |
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E-mail |
: |
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Website |
: |
www.uniongroup.com |
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Location
: |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
5600 |
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 area |
Ö |
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Factory-1, Spinning & Dying : |
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Address |
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Plot #
106-123, DEPZ, Ganak Bari, Savar, Bangladesh.
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Factory -2, (Sweater): |
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Address |
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731, Vannara,
Mouchak, Kaliakoir, Gazipur, Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Branches: |
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Address |
: |
Nil |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No.
of Employees |
In Office |
: |
56 |
In Factory |
: |
1756 |
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In Branch: |
: |
- |
Total
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: |
1812 |
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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. Raquibul Kabir |
3914400 |
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Mrs. Nasreen Kabir |
28356000 |
DIRECTORS
|
Name |
Designation |
|
Mr. Raquibul Kabir |
Managing
Director |
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Mrs. Nasreen Kabir |
Director |
MANAGEMEN
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Name |
: |
Mr. Raquibul
Kabir |
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Job Description |
: |
Managing Director |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr.
Jitendranath Sarkar |
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Job Description |
: |
Executive
Director |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
jnsarkar@daeyubangladesh.com, |
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Other details |
: |
N/A |
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Name |
: |
Mr. Sultan
Mahmud |
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Job Description |
: |
General
Manager (Marketing) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Masfique
Murad |
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Job Description |
: |
Manager
(Commercial) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
masfique.murad@daeyubangladesh.com |
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Other details |
: |
N/A |
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Name |
: |
Mr. Nazmul
Islam |
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Job Description |
: |
Manager (Commercial) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS OPERATIONS
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Nature
of Activity : |
Manufacturer |
Ö |
Dying |
Ö |
Dealer |
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Distributor |
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Range
of Products: |
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Products |
: |
Acrylic Yarn, Acrylic/Wool
Yarn, Cotton Yarn, Acrylic/Cotton Yarn, Spinning, Yarn, Sweater |
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Production
Capacity |
: |
Knit: 200000 pcs per Month |
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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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|||
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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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|||
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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 |
: |
Overseas Clients |
: |
Saka Inc Target Brands H&M Peacocks Wibra |
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Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
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Local Suppliers |
: |
N/A |
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Trade Markets |
: |
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 |
: |
N/A |
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Certified |
: |
N/A |
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Name of Auditors |
: |
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 1000 Million |
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Paid-up
Capital |
: |
BDT 322704000 |
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No.
of Shares |
: |
32270400 |
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Share
Value |
: |
BDT 10.0Each |
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Main
Assets |
: |
BDT
1878.90 Million |
FINANCIAL STATEMENT- DETAILED
|
Financial Summary Information has been
Given. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Name of The
Group |
: |
Union Group |
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Subsidiary |
: |
Nil |
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Sister Concerns |
: |
H Kabir & Co.Ltd Watches World Ltd Union Dyeing Ind.Ltd Union Powers Limited Union Bangladesh Ltd H.P. Chemicals Limited Union Fashions Limited Union Properties Limited Lakhsma Fashion Limited Dacca Warehouse Limited Sam Ree Dyeing (BD) Ltd Union Tours &Travels Ltd Uninon Mercantile Limited Union Tea Company Limite Union Hospitalities Limited Celluler Mobile Pte. Limited Union Power System Limited Dhaka Convention Center Ltd |
BANKING
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Bank Name |
: |
Woori Bank
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Bank Address |
: |
Gulshan
Branch Suvastu Imam
Square, 65, Gulshan Avenue, Dhaka-1212, Bangladesh Tel:
88-02-8813270 |
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Bank Name |
: |
Premier Bank
Ltd.
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Bank Address |
: |
Gulshan
Branch 140, Gulshan
Avenue, Gulshan Circle- 2, Dhaka-1212, Bangladesh Tel:
88-02-8815268, 9882781, 9890391 Fax:
88-02-8818338 |
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Bank Name |
: |
Dhaka Bank
Ltd.
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Bank Address |
: |
EPZ Branch Zone Service
Building, Room # 51, DEPZ Ganakbari, Savar, Dhaka, Bangladesh Tel:
88-02-7701671-2 Fax:
88-02-7701672 |
ADVERSE DATA MONITORING
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Dishonored
Checks |
: |
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 |
: |
No Record
Found |
SITE VISIT COMMENTARY
|
Our Representative Visited the subject
company Head office which is situated at Plot# 68/1(4th Floor), Gulshan
Avenue, Gulshan-1, Dhaka-1212, Bangladesh. It is situated at commercial area. |
GENERAL COMMENTS
|
SC is considered medium-sized in its line
with fairly stable financial conditions. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.72 |
|
|
1 |
INR 88.64 |
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Euro |
1 |
INR 78.14 |
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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
: |
NIS |
|
|
|
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Report Prepared
by : |
TRU |
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 |
|
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.