|
|
|
MIRA INFORM REPORT
|
Report No. : |
488264 |
|
Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
NASSA TAIPEI
DENIMS LIMITED |
|
|
|
|
Registered Office : |
Parkwest Bhaban (2nd Floor), 37, Shahid Suhrawardi Road,
Baridhara, Dhaka-1212, |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Date of Incorporation : |
15.07.2003 |
|
|
|
|
Com. Reg. No.: |
C-49874 |
|
|
|
|
Legal Form : |
Private Co Ltd |
|
|
|
|
Line of Business : |
Manufacturer, Exporter, Importer Denim Fabrics. |
|
|
|
|
No. of Employees : |
725 |
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 |
EXECUTIVE
SUMMARY
|
||
|
IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Nassa Taipei Denims
Limited |
|
Head Office |
: |
Parkwest Bhaban (2nd Floor), 37, Shahid Suhrawardi Road,
Baridhara, Dhaka-1212, Bangladesh |
|
Tel No |
: |
88-02-9886629, 9893051 |
|
Fax No |
: |
88-02-9893051 |
|
E-mail |
: |
denim@nassagroup.org,
rifat@nttm.net |
|
Website |
: |
www.nassagroup.org |
|
Date/ Year of Incorporation |
: |
15.07.2003 |
|
Incorporation No. |
: |
C-49874 |
|
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 |
|
30th June’2016 |
BDT 1005.25 Million |
BDT 98.63 Million |
BDT 46.21 Million |
|
30th June’2017 |
BDT 1697 Million |
BDT 210.42 Million |
BDT 67.80 Million |
FULLCHECK
REPORT DETAILS
|
||
|
Information Parted By |
||
|
Name |
: |
Mr. Masud Dewan |
|
Designation |
: |
Deputy General Manager
(Marketing) |
|
Contract No |
: |
N/A |
|
Locations Details |
||
|
Operating Address |
: |
Parkwest Bhaban (2nd Floor), 37, Shahid Suhrawardi Road, Baridhara, Dhaka-1212,
Bangladesh |
|
Tel No |
: |
88-02-9886629, 9893051 |
|
Fax No |
: |
88-02-9893051 |
|
E-mail |
: |
denim@nassagroup.org,
rifat@nttm.net |
|
Website |
: |
www.nassagroup.org |
|
Location : |
:
Owned |
|
Rented |
Ö |
|
Leased |
|
Area |
3400 |
Sq. ft. |
|
Type of
Office : |
: Commercial Office Bldg. |
|
|
Semi-commercial office Bldg. |
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential Bldg. |
Ö |
|
|
|
|
|
Factory: |
|
|
|
|
|
|
|
Address |
: |
Plot# 4-11 & 22-29,
Export Processing Zone, Comilla, Bangladesh. |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Owned |
|
|
Rented |
|
|
Leased |
Ö |
Area |
50,000 |
Sq. ft. |
|
Corporate Head Office: |
||
|
|
|
|
|
Address |
: |
238, Gulshan Link Road,
Tejgaon Industrial Area, Dhaka-1208,
Bangladesh |
|
Tel No |
: |
88-02-8878543-9 |
|
Fax No |
: |
88-02-9830348-54 |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
38 |
In Factory |
: |
687 |
||
|
In Branch: |
: |
Nil |
Total |
: |
725 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
|
|
Names of Shareholders |
No. of
Share |
|
Mr. Md. Nazrul Islam Mazumder |
707000 |
|
Mrs. Nasreen Islam |
243000 |
|
Sze Tak Sang |
50000 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Md. Nazrul Islam Mazumder |
Chairman & Managing
Director |
|
Mrs. Nasreen Islam |
Director |
|
Sze Tak Sang |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Nazrul Islam
Mazumder |
|
Job Description |
: |
Chairman & Managing
Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Masud Dewan |
|
Job Description |
: |
Deputy General Manager
(Marketing) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
Name |
: |
Mr. Md. Imran |
|
Job Description |
: |
General Manager
(Commercial) |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS
OPERATIONS
|
||||||||
|
Nature of
Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
Ö |
Services |
|
Others |
|
|
Range of
Products: |
||
|
|
||
|
Products |
: |
Denim Fabrics |
|
Production
Capacity |
: |
3600000 Mtr. |
|
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 |
: |
Marks and Spencer. |
|
||||
|
Local Clients |
: |
N/A |
|
||||||
|
Overseas Suppliers |
: |
N/A |
|
||||||
|
Local Suppliers |
: |
N/A |
|
||||||
|
Trade Markets |
: |
Exports |
: |
Europe |
|
||||
|
Imports |
: |
China, India |
|
||||||
|
Brand Name |
: |
N/A |
|||||||
|
Certified |
: |
N/A |
|||||||
|
Auditors |
: |
N/A |
|||||||
|
Operation Status |
: |
Active |
|||||||
|
Member |
: |
Bangladesh Textile Mills Association |
|||||||
CAPITAL
STRUCTURE
|
|
||||||||
|
|
|
||||||||
|
Authorized
Capital |
: |
BDT 100 Million |
|
||||||
|
|
|
||||||||
|
Paid-up
Capital |
: |
BDT 100000000 |
|
||||||
|
|
|
||||||||
|
No. of
Shares |
: |
1000000 |
|
||||||
|
|
|
||||||||
|
Share
Value |
: |
BDT 100.00 Each |
|
||||||
|
|
|
||||||||
|
Main
Assets |
: |
BDT 210.42 Million |
|
||||||
|
|
|
||||||||
FINANCIAL
STATEMENT- DETAILED
|
|
Summary information has been given |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
|
||
|
Name of The Group |
: |
Nassa Group |
|
Subsidiary |
: |
Nil |
|
Sister Concerns |
: |
Nassa Knit Ltd Liz Apparels Ltd. Nassa Global Ltd Nassa Basics Ltd Nassa Garden Ltd. Nassa Fashion Ltd. Nassa Washing Ltd. Nassa Spinning Ltd. Nassa Spinners Ltd. Nassa Properties Ltd. Nassa Apparels-Unit-2 Starlight Knitwears Ltd. Nassa Hi-Tech Wear Ltd Nassa Taipei Spinners Ltd. Nassa Apparels Ltd.-Unit-1 Nassa Taipei Textile Mills Ltd. Nassa SG Super Garments ltd. Toy Woods (Bangladesh) Co. Ltd |
BANKING
|
|
|
|
Bank Name |
: |
Islami Bank Bangladesh
Ltd. |
|
Bank Address |
: |
Local office 75, Motijheel C/A,
Dhaka-1000, Bangladesh Tel: 88-02-9571201-2,
9568187 Fax: 88-02-9561105,
9561995 |
|
|
||
|
Bank Name |
: |
National Bank Limited. |
|
Bank Address |
: |
Kawran Bazar Branch 7-9 B.T.M.C Bhaban Kawran
Bazar, Dhaka- 1205, Bangladesh Phone: 88-02-9660445 |
|
|
|
|
|
Bank Name |
: |
South East Bank Limited. |
|
Bank Address |
: |
Gulshan Branch House# 82 CES (F), 1, Gulshan
Avenue, Dhaka-1212, Bangladesh Tel: 88-02-9883491,
9883401-5, 9883492 Fax: 88-02-9883495 |
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 Parkwest Bhaban (2nd Floor), 37, Shahid
Suhrawardi Road, Baridhara, Dhaka-1212, Bangladesh. It is situated at a
Residential Area. |
GENERAL
COMMENTS
|
|
The subject company is a well-known reputed company in
Bangladesh. It is reputed company in
this line of business. We recommend that Credit can proceed normally |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.50 |
|
|
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
: |
DIV |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.