MIRA INFORM REPORT

Report No. :	489339
Report Date :	31.01.2018

IDENTIFICATION DETAILS

Name :	SMART JEANS LIMITED
Registered Office :	9/10, FIDC Road, Kalurghat Industrial Area, Chandgoan, Kalurghat, Chittagong
Country :	Bangladesh
Date of Incorporation :	18.05.2005
Com. Reg. No.:	CH-5449
Legal Form :	Private Co
Line of Business :	Manufacturer, Exporter and Importer of Woven Bottoms and Woven Top Trousers Shorts, Bermuda short all, Over all skirts Woven Tops, Men’s and Ladies Etc.
No. of Employees :	3000

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

IDENTIFICATION DETAILS
Correct company Name	:	SMART JEANS LIMITED
Head Office	:	9/10, FIDC Road, Kalurghat Industrial Area, Chandgoan, Kalurghat, Chittagong, Bangladesh.
Tel No	:	88-031-2580851-5, 01713121190
Fax No	:	N/A
E-mail	:	tareq@smartjeansctg.com, mostafiz@smartjeansctg.com
Website	:	www.smartjeansctg.com
Date/ Year of Incorporation	:	18.05.2005
Incorporation No.	:	CH-5449
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/ (Loss)
30^th June, 2016	BDT 1886 Million	BDT 391.80 Million	BDT 78.97 Million
30^th June, 2017	BDT 1950 Million	BDT 483.21 Million	BDT 105.25 Million
Exchange Rate	USD1-Tk. 77.8200 EUR 1- Tk. 100.2711 GBP 1- Tk.118.5354 AUD 1 - Tk.82.8563 JPY 1 - Tk.0.9286	CAD 1 - Tk.80.1887 SEK 1 - Tk.12.2870 SGD 1 - Tk.65.3045 CNH 1 - Tk.12.8399

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Zahed Hossain Chowdhury
Designation	:	Manager (Commercial)
Contract No	:	88-01755545622

Locations Details
Operating Address	:	9/10, FIDC Road, Kalurghat Industrial Area, Chandgoan, Kalurghat, Chittagong, Bangladesh.
Tel No	:	88-031-2580851-5, 01713121190
Fax No	:	N/A
E-mail	:	tareq@smartjeansctg.com, mostafiz@smartjeansctg.com
Website	:	www.smartjeansctg.com

Location :

: Owned

Rented

Leased

Ö

Area

4500

Sq. ft.

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

Factory:
Address	:	9/10, FIDC Road, Kalurghat Industrial Area, Chandgoan, Kalurghat, Chittagong, Bangladesh.
Tel No	:	Nil
Fax No	:	Nil

Location :

Owned

Rented

Leased

Ö

Area

204300

Sq. ft.

Branch:
Address	:	House# B-123, Lane# 21, New DOHS, Mohakhali, Dhaka-1206, Bangladesh
Tel No	:	Nil
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	97	In Factory	:	2900
	In Branch:	:	3	Total	:	3000
Details:

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share
Mr. Mustafijur Rahaman	100000
Mr. Shafiqur Rahman	12500
Mr. Azizur Rahaman	12500
Mr. Mujibur Rahaman	37500
Mr. Mahfuzur Rahaman	12500
Mr. Mofizur Rahaman	12500
Mr. Md. Tariqur Rahaman	12500

DIRECTORS
Name	Designation
Mr. Mujibur Rahaman	Managing Director
Mr. Mustafijur Rahaman	Director
Mr. Shafiqur Rahman	Director
Mr. Azizur Rahaman	Director
Mr. Mahfuzur Rahaman	Director
Mr. Mofizur Rahaman	Director
Mr. Md. Tariqur Rahaman	Director

MANAGEMENT
Name	:	Mr. Mujibur Rahaman
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Mustafijur Rahaman
Job Description	:	Director
Nationality	:	Bangladeshi.
Email address	:	mostafiz@smartjeansctg.com
Other details	:	88-01713121190

Name	:	Mr. Zahed Hossain Chowdhury
Job Description	:	Manager (Commercial)
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	88-01755545622

Name	:	Mr. Jashim Uddin
Job Description	:	General Manager (Marketing)
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	:	Woven Bottoms and Woven Top Trousers Shorts, Bermuda short all, Over all skirts Woven Tops, Men’s and Ladies Etc.
Production Capacity	:	20,000 Doz. per months.
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

:

Next Celio Hema Cintas Carters J.C.Penny Earn Sting Gymborwe OSH KOSH Little Woods

Local Clients

:

N/A

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

Trade Markets

:

Exports(Country)

:

Europe, USA, Canada

Imports(Country)

:

China, Thailand

Brand Name

:

N/A

Certified

:

N/A

Name of Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Garments Manufacturer & Exporters Association

CAPITAL STRUCTURE
Authorized Capital	:	BDT 150 Million
Paid-up Capital	:	BDT 20000000
No. of Shares	:	200000
Share Value	:	BDT 100.00 Each
Main Assets	:	BDT 483.21 Million

FINANCIAL STATEMENT- DETAILED
Summary information has been given.
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Sister Concerns	:	Calm Denims Dime Fashion Pvt. Ltd R.B. Industries Limited NAFS Fashions Limited Meshu Apparels Limited Apparels Promoters Limited Chittagong Denim Mills Limited
Subsidiary	:	Nil
Name of The Group	:	Nil

BANKING
Bank Name	:	Mutual Trust Bank Limited
Bank Address	:	Agrabad Branch Akhtaruzzaman Centre, 21-22, Agrabad C/A, Chittagong Bangladesh Tel: 88-031-2523287, 2524269, 2510754, 716487
Bank Name	:	Shahjalal Islami Bank Limited
Bank Address	:	Agrabad Branch 104, Agrabad C/A, Chittagong, Bangladesh Tel: 88-031-728294, 813052-3 Fax: 88-031-716960

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 9/10, FIDC Road, Kalurghat Industrial Area, Chandgoan, Kalurghat, Chittagong, Bangladesh. It is Commercial Area.

GENERAL COMMENTS

The subject company is a well-known reputed company in Bangladesh. It is reputed company in this line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.75
UK Pound	1	INR 89.39
Euro	1	INR 78.75
BDT	1	INR 0.76

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

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	TPT

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.