MIRA INFORM REPORT

Report No. :	488313
Report Date :	29.01.2018

IDENTIFICATION DETAILS

Name :	DONG BANG DYEING LTD.
Registered Office :	116, Strand Road, Bangla Bazar, Chittagong,
Country :	Bangladesh
Date of Incorporation :	12.11.2003
Com. Reg. No.:	CH-4876
Legal Form :	Private Co Ltd
Line of Business :	Dying, Washing and Importer Acrylic, Acrylic mixed yarn, Cotton, Cotton Mixed yarn, Nylon, Nylon, Spandex, Lacra Mixed, Viscose, Rayon Yarn dyeing, Cone Dyeing, Cabinet.
No. of Employees :	1400

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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
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	:	Dong Bang Dyeing Ltd.
Head Office	:	116, Strand Road, Bangla Bazar, Chittagong, Bangladesh.
Tel No	:	88-031-714079, 727538, 724434
Fax No	:	88-031-710601
E-mail	:	dongbangctg@yahoo.com, khokondhaka@yahoo.com rezadbt@yahoo.com
Website	:	www.dongbanggroup.net
Date/ Year of Incorporation	:	12.11.2003
Incorporation No.	:	CH-4876
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)

FINANCIALS- SUMMARY
Year	Turnover/ Sales	Assets	Income
30^th June’2016	BDT 853 Million	BDT 305.20 Million	BDT 34.81 Million
30^th June’2017	BDT 1004 Million	BDT 453.34 Million	BDT 51.90 Million

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Nurul Amin (Khokon)
Designation	:	Assistant General Manager
Contract No	:	N/A

Locations Details
Operating Address	:	116, Strand Road, Bangla Bazar, Chittagong, Bangladesh.
Tel No	:	88-031-714079, 727538, 724434
Fax No	:	88-031-710601
E-mail	:	dongbangctg@yahoo.com, khokondhaka@yahoo.com rezadbt@yahoo.com
Website	:	www.dongbanggroup.net

Location :

: Owned

Rented

Ö

Leased

Area

5450

Sq. ft.

Type of Office :	: Commercial Office Bldg.	Ö		Semi-commercial office Bldg.
Retail shop			Industrial Park
Business Center			Home Office
Residential Bldg.

Factory:
Address	:	Ulusara 419, Kaliakoir, Gazipur, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Corporate Address:
Address	:	House# 31, Road# 10, Sector# 6, Uttara, Dhaka-1230, Bangladesh
Tel No	:	88-02-7911175
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	50	In Factory	:	1350
	In Branch:	:	-	Total	:	1400
Details:

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share
Mr. Md. Shafiqul Islam Khokon	242099
Mr. Ahsanul Alam	128401
Mr. Monjurul Anwar	123500
Mr. Jeong Hyun Woo	6000
Dong Bang Textile Mills Ltd.	2000000

DIRECTORS
Name	Designation
Mr. Md. Shafiqul Islam Khokon	Chairman & Managing Director
Mr. Ahsanul Alam	Director
Mr. Monjurul Anwar	Director
Mr. Jeong Hyun Woo	Director

MANAGEMENT
Name	:	Mr. Md. Shafiqul Islam Khokon
Job Description	:	Chairman & Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Kartick Chandra Bhowmik
Job Description	:	Manager (Commercial)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Rezaul Karim
Job Description	:	Manager (Commercial)
Nationality	:	Bangladeshi.
Email address	:	rezadbt@yahoo.com
Other details	:	N/A

Name	:	Mr. Nurul Amin (Khokon)
Job Description	:	Assistant General Manager
Nationality	:	Bangladeshi.
Email address	:	khokondhaka@yahoo.com
Other details	:	N/A

Name	:	Mr. Eklasur Rahman
Job Description	:	Officer (Commercial)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS
Nature of Activity :	Dying	Ö	Washing	Ö	Dealer	Distributor
	Exporter		Importer	Ö	Services	Others

Range of Products:
Products	:	Acrylic, Acrylic mixed yarn, Cotton, Cotton Mixed yarn, Nylon, Nylon, Spandex, Lacra Mixed, Viscose, Rayon Yarn dyeing, Cone Dyeing, Cabinet
Production Capacity	:	Dying: 220,000 Lbs. per day Washing: 60,000 Lbs., per day
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			:	N/A
		Local Clients			:	N/A
		Overseas Suppliers			:	N/A
		Local Suppliers			:	N/A
Trade Markets	:	Exports(Country)			:	N/A
		Imports(Country)			:	China, South Korea, Indonesia, Thailand, Pakistan
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	N/A
Operation Status			:	Active

CAPITAL STRUCTURE
Authorized Capital	:	BDT 300 Million
Paid-up Capital	:	BDT 250000000
No. of Shares	:	2500000
Share Value	:	BDT 100.00 Each
Main Assets	:	BDT 453.34 Million

FINANCIAL STATEMENT- DETAILED

Summary information has been given

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Name of The Group	:	Dong Bang Group.
Subsidiary	:	Nil
Sister Concerns	:	Daewon Art Limited ESE Knitwears Limited MARS Textiles Limited DH Euro High Tec Co. Ltd Dong Bang Textile Limited Euro Mode Fashions Limited Hemple Rhee Mfg. Co. Bd. Limited

BANKING
Bank Name	:	Social Islami Bank Ltd.
Bank Address	:	Gulshan Branch Gulshan Avenue-1, Dhaka-1212, Bangladesh Tel: 88-02-8813793, 8829137 Fax: 88-02-9888857

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 address at 116, Strand Road, Bangla Bazar, Chittagong, Bangladesh. It is Situated at a Commercial area.

GENERAL COMMENTS

The subject company maintains acceptable business volume. We recommend that Credit can proceed normally in

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.50
UK Pound	1	INR 90.92
Euro	1	INR 79.07
BDT	1	INR 0.76

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VIV
Report Prepared by :	POJ

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.