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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

487667

Report Date :

23.01.2018

 

IDENTIFICATION DETAILS

 

Name :

TALISMAN LTD

 

 

Registered Office :

Plot# 7-10, 13-16, DEPZ (Ext. Area), Ganakbari, Savar

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

30.08.2009

 

 

Com. Reg. No.:

C-79439

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Shirts, Pants, Trousers.        

 

 

No. of Employees :

3600

 

 

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.

 

 

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

 

 

Company name

 

TALISMAN LTD.

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Talisman Ltd

Head Office

:

Plot# 7-10, 13-16, DEPZ (Ext. Area), Ganakbari, Savar, Bangladesh.

Tel No

:

88-02-7788872-75

Fax No

:

88-02-7788876

E-mail

:

info@talismanbd.com, maher@fcibd.com

m.matin@fciclothing.co.uk    

Website

:

www.fcibd.com

Date/ Year of Incorporation

:

30.08.2009

Incorporation No.

:

C-79439

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

 

Value Added Tax(VAT) No

:

17141014600

Date of Registration

:

N/A

Issuing Authority

:

National Board of Revenue

 

 

 

 

 

Organization Name

:

Bangladesh Garments Manufacturer & Exporters Association

 

Membership No

:

N/A

 

 

 

FINANCIALS- SUMMARY

      Year

Turnover/ Sales

 Assets

     Income

30th June’2016

BDT 996 Million

BDT 108.82 Million

BDT 57.76 Million

30th June’2017

BDT 1281 Million

BDT 253.46 Million

BDT 71.90 Million

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Prasad Kavindra

Designation

:

General Manager (Merchandising)

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

Plot# 7-10, 13-16, DEPZ (Ext. Area), Ganakbari, Savar, Bangladesh.

Tel No

:

88-02-7788872-75

Fax No

:

88-02-7788876

E-mail

:

info@talismanbd.com, maher@fcibd.com

m.matin@fciclothing.co.uk    

Website

:

www.fcibd.com

 

Location :

: Owned

 

Rented

 

 

Leased

Ö

Area

1400

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

 

Semi-commercial office Bldg.

 

     

Retail shop

 

Industrial Park

Ö

     

Business Center

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

Factory:

 

 

Address

:

Plot# 36-99, DEPZ, Savar, Bangladesh.

Tel No

:

88-02-7788351-55

Fax No

:

88-02-7788357

 

Location :

   Owned

 

 

Rented

 

 

Leased

Ö

Area

1,00,000

Sq. ft.

 

Branch:

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

85

In Factory

:

3515

In Branch:

:

-

Total

:

3600

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                         No. of Share     

Mr. Mohammed Abdul Matin

2100

Mr. Juned Ahmed

300

Mr. Imran Ahmed

300

Mr. Maher Manzer Matin

300

 

 

DIRECTORS

 

Name

Designation

Mr. Mohammed Abdul Matin

Chairman

Mr. Juned Ahmed

Managing Director

Mr. Imran Ahmed

Director

Mr. Maher Manzer Matin

Director

 

 

MANAGEMENT

 

Name

:

Mr. Juned Ahmed

Job Description

:

Managing Director

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Abdus Salam Talukder

Job Description

:

Manager (Admin)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Kumud Munjal

Job Description

:

General Manager (Merchandising)

Nationality

:

Bangladeshi

Email address

:

kumud@fcibd.com

Other details

:

N/A

 

Name

:

Mr. Prasad Kavindra

Job Description

:

General Manager (Merchandising)

Nationality

:

Bangladeshi

Email address

:

prasad@fcibd.com

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

Ö

Services

 

Others

 

 

Range of Products:

 

Products

:

Shirts, Pants, Trousers.        

Production Capacity

:

140,000 Doz. Per Year.

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

:

C&A

H&M

Alexon

KappAhl

Mackays

Mothers Work

Charles Vogele

 

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

 

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports(Country)

:

Europe

 

Imports(Country)

:

China, India, Italy.

 

Brand Name

:

N/A

Certified

:

N/A

Name of Auditors

:

N/A

Operation Status

:

Active

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 100 Million

 

Paid-up Capital

:

BDT 30,00,000

 

No. of Shares

:

3,000

 

Share Value

:

BDT 1000.00 Each

 

Main Assets

:

BDT 253.46 Million

 

 

FINANCIAL STATEMENT- DETAILED

 

Financial summary information has been given

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Name of  The Group

:

FCI Group.  

Subsidiary

:

N/A

Sister Concerns

:

Helicon Ltd.

FCI (BD) Ltd.

FCI Clothing Ltd. 

Alliance Stitches Ltd.

 

 

BANKING

 

Bank Name  

:

Standard Chartered Bank Ltd.

Bank Address

:

Gulshan Branch

67, Gulshan Avenue, Dhaka-1212, Bangladesh.

Tel: 88-02-9881015, 8852679

 

Bank Name  

:

Hong Kong Shanghai Banking Corporation

Bank Address

:

Dhaka Main Office

Anchor Tower, 108, Bir Uttam C R Dutta Road,

Dhaka-1205, Bangladesh.

Tel: 88-02-9660536-43

Fax: 88-02-9660554, 9669457

                 

     

 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 Plot# 7-10, 13-16, DEPZ (Ext. Area), Ganakbari, Savar, Bangladesh. It is Situated at an Industrial Area.

 

 

GENERAL COMMENTS

 

The subject company is reputed company in this line of business.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.89

UK Pound

1

INR 88.60

Euro

1

INR 78.12

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 :

NIT

 

 

 

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.