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MIRA INFORM REPORT
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Report No. : |
487119 |
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Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
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Name : |
A.B APPARELS LTD |
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Registered Office : |
225, Singair Road, Hemayetpur, Savar-1340 |
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Country : |
Bangladesh |
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Date of Incorporation : |
23.12.2013 |
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Com. Reg. No.: |
C-113121 |
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Legal Form : |
Private Co
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Line of Business : |
Manufacturer, Exporter and Importer of Woven, Shirts, Pants |
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No. of Employees : |
1970 |
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
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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 |
: |
A.B APPARELS LTD |
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Head Office |
: |
225, Singair Road, Hemayetpur, Savar-1340, Bangladesh |
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Tel No |
: |
88-02-7741539 |
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Fax No |
: |
88-02-7748898 |
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E-mail |
: |
aji@aji-group.com, polo@aji-group.com |
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Website |
: |
www.aji-group.com |
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Date/ Year of Incorporation |
: |
23.12.2013 |
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Incorporation No. |
: |
C-113121 |
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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) |
: |
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 |
Other
Registry & Certification Details
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Value Added Tax(VAT) No |
: |
17101009988 |
Date of Registration |
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N/A |
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Issuing Authority |
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National Board of Revenue |
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Organization
Name |
: |
Bangladesh Garments Manufacturer &
Exporters Association |
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Membership No |
: |
6077 |
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FINANCIALS- SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income/
(Loss) |
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30th June, 2016 |
BDT 456 Million |
BDT 35.70 Million |
BDT 17.21 Million |
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30th June, 2017 |
BDT 598 Million |
BDT 42.95 Million |
BDT 23.76 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. M.A. Jalil
Ananto |
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Designation |
: |
Chairman |
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Contract No |
: |
N/A |
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Locations Details |
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Operating Address |
: |
225, Singair Road, Hemayetpur, Savar-1340, Bangladesh |
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Tel No |
: |
88-02-7741539 |
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Fax No |
: |
88-02-7748898 |
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E-mail |
: |
aji@aji-group.com, polo@aji-group.com |
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Website |
: |
www.aji-group.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 Area. |
Ö |
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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 Bldg. |
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Factory: |
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Address |
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225, Singair Road, Hemayetpur, Savar-1340,
Bangladesh |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Branch: |
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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 |
: |
70 |
In Factory |
: |
1900 |
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In Branch |
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N/A |
Total |
: |
1970 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
Country |
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Mr. M.A. Jalil Anato |
75000 |
Bangladesh. |
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Mrs. Khadiza Parvin |
25000 |
Bangladesh. |
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Polo Composite Knit Industries Ltd. |
350000 |
Bangladesh. |
DIRECTORS
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1.
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Name |
: |
Mr. M.A. Jalil
Anato |
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Designation |
: |
Chairman |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
jalil@aji-group.com |
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Other details |
: |
N/A |
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2.
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Name |
: |
Mrs. Khadiza
Parvin |
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Designation |
: |
Managing Director
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
MANAGEMENT
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Name |
: |
Mr. M.A. Jalil
Ananto |
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Job Description |
: |
Chairman |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
jalil@aji-group.com |
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Other details |
: |
N/A |
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Name |
: |
Mrs. Khadiza
Parvin |
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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. Mohammad Omar
Faruque |
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Job Description |
: |
Deputy Manager
Director |
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Nationality |
: |
Bangladeshi. |
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Email address |
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faruque@aji-group.com |
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Other details |
: |
N/A |
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Name |
: |
Mr. Arif Ahmed
Roni |
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Job Description |
: |
Manager
(Marketing) |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
88-01713364991 |
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 |
: |
Woven, Shirts, Pants |
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Production Capacity |
: |
1625000 (Yearly in dozen) |
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Last Year
Production |
: |
N/A |
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Import Products |
: |
N/A |
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Export Products |
: |
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 |
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 |
DETAILED
DATA
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Trade Reference & Related Parties |
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Overseas Clients |
: |
N/A |
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Local Clients |
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N/A |
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Overseas Suppliers |
: |
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 |
: |
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 |
: |
BDT 100 Million |
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Paid-up Capital |
: |
BDT 45000000 |
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No. of Shares |
: |
450000 |
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Share Value |
: |
BDT 100.00 Each |
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Main Assets |
: |
BDT 42.95 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 |
: |
Aji Group |
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Name of Mother Company |
: |
Nil |
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Subsidiary |
: |
Nil |
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Sister Concerns |
: |
FRM Fashions House Limited Aji Apparels Industries Limited Polo Composite Knit Industry Ltd |
BANKING
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Bank Name
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: |
Mutual Trust Bank
Limited |
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Bank Address |
: |
Panthapath Branch Chandrashila Suvastu Tower, 69/1,
Panthapath, Dhaka-1205, Bangladesh Tel: 88-02-8613807, 8629887 Fax : 88-02-8624687 |
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Bank Name
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Mercentile Bank Ltd. |
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Bank Address |
: |
Ashulia Branch Bhuiyan Commercial Complex, Jamgara
Chowrasta, Ashulia, Savar, Bangladesh Tel: 88-02-7788757, 7790708, 7788758, 7790708,
01711535948, 01678200178 Fax: 88-0-2-7790708 |
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 |
: |
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
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|
Our representative visited the subject company Head Office which is situated
at 225, Singair Road, Hemayetpur, Savar-1340, 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
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Indian Rupees |
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US Dollar |
1 |
INR 63.50 |
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|
1 |
INR 90.92 |
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Euro |
1 |
INR 79.07 |
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BDT |
1 |
INR 0.76 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
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|
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Report Prepared
by : |
TPT |
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.