MIRA INFORM REPORT

 

 

Report No. :

497266

Report Date :

10.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

EPYLLION KNITEX LIMITED

 

 

Registered Office :

Ninakabbo (Level-12~13), 227/A, Tejgaon-Gulshan Link Road, Dhaka-1208

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

18.05.2002

 

 

Com. Reg. No.:

C-45844

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer, Dyeing, Exporter and Importer of Knit Fabrics

 

 

No. of Employees :

760

 

 

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 :

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

(30.09.2017)

Current Rating

(31.12.2017)

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 were on track to again surpass $25 billion in 2017. The sector continues to grow, despite the need for improvements in factory working conditions to avert further high-profile accidents that have killed more than 1,000 workers in recent years. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $13 billion and 6% of GDP in 2016 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.

The recent influx of hundreds of millions of additional refugees from Burma will place pressure on the Bangladeshi government’s budget and the country’s rice supplies, which declined in 2017 in part because of adverse weather.

 

Source : CIA

 

 

 

IDENTIFICATION DETAILS

Correct company Name

:

EPYLLION KNITEX LIMITED

Head Office

:

Ninakabbo (Level-12~13), 227/A, Tejgaon-Gulshan Link Road, Dhaka-1208, Bangladesh.

Tel No

:

88-02-9840223, 9205619, 9201232

Fax No

:

88-02-9855293

E-mail

:

info@epylliongroup.com

Website

:

www.epylliongroup.com

Date/ Year of Incorporation

:

18.05.2002

Incorporation No.

:

C-45844

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

 

Organization Name

:

Bangladesh Knitwear Manufacturers & Exports  Association

Membership No

:

N/A

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

     Income

30th June’2016

BDT 691 Million

BDT 225.21 Million

BDT 18.15 Million

30th June’2017

BDT 753 Million

BDT 241.90 Million

BDT 25.42 Million

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Borhan Uddin

Designation

:

Asst. Manager (HR)

Contract No

:

88-01730051801

 

                                                               Locations Details

Operating Address

:

Ninakabbo (Level-12~13), 227/A, Tejgaon-Gulshan Link Road, Dhaka-1208, Bangladesh.

Tel No

:

88-02-9840223, 9205619, 9201232

Fax No

:

88-02-9855293

E-mail

:

info@ epylliongroup.com

Website

:

www.epylliongroup.com

 

Location :

: Owned

 

Rented

 

 

Leased

Ö

Area

3200

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

:

Jangalipara (Banglabazar), Bhawal Mirzapur, Gazipur Sadar, Gazipur, Bangladesh.

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

10468

decimals

 

Branch-1:

 

 

 

 

 

Address

:

Plot# I/6, Road # 06, Section# 07, Mirpur I/A, Dhaka-1216, Bangladesh.

Tel No

:

88-02-9006747, 9016994, 8033930, 9001397, 8033462, 8057766

Fax No

:

88-02-9007978

 

Branch-2:

 

Address

:

Plot # M/2-1, Road # 7, Section # 7, Mirpur I/A, Dhaka-1216, Bangladesh.

Tel No

:

88-02-9006028

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

37

In Factory

:

718

In Branch

:

5

Total

:

760

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

 

Names of Shareholders

No. of Share

Country

Mrs. Kishwar Jahan

2308000

Bangladesh.

Mr. Emaduddin Al-Razi

936000

Bangladesh.

Mr. Md. Junaid Abu Salay Musa

2808000

Bangladesh.

Mr. Reaz Uddin Al-Mamoon

12668000

Bangladesh.

 

 

DIRECTORS

 

1.      

 

 

 

Name

:

Mr. Reaz Uddin Al-Mamoon

Designation

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

2.      

 

 

 

Name

:

Mrs. Kishwar Jahan

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

3.      

 

 

 

Name

:

Mr. Md. Junaid Abu Salay Musa

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

MANAGEMENT

 

Name

:

Mr. Reaz Uddin  Al-Mamoon

Job Description

:

Managing Director

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Borhan Uddin

Job Description

:

Asst. Manager (HR)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01730051801

 

Name

:

Mr. Sadrul Amin Bhuiyan

Job Description

:

Asst. General Manager (Procurement)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Dyeing

Ö

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

Ö

Services

 

Others

 

 

Range of Products:

 

Products

:

Knit Fabrics

Production Capacity

:

27, 00,000 Kg’s 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

:

Zara

C&A

H&M

Kappa

Mascot

K-Mart

Wal Mart

JC Penny

 

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

 

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports(Country)

:

Europe

 

Imports(Country)

:

China, India

 

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 187200000

 

No. of Shares

:

18720000

 

Share Value

:

BDT 10 Each

 

Main Assets

:

BDT 241.90 Million

 

 

FINANCIAL STATEMENT- DETAILED

 

Summary Information Given

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Epyllion Ltd.

Epyllion Style Ltd.

Nina Holdings Ltd.

Dazzling Dresses Ltd 

Dekko Knitwears Ltd.

Epyllion Washing Ltd.

Mirabella Dresses Ltd.

Epyllion Knitwears Ltd.

Epyllion Fabrics Limited

Epyllion Testing Lab Limited

Subsidiary

:

N/A

Name of  The Group

:

Epyllion Group

 

 

BANKING

 

Bank Name  

:

IFIC Bank Ltd.

Bank Address

:

Motijheel Branch

Islam Chamber 125/A, Motijheel C/A, Dhaka-1000, Bangladesh

Tel: 88-02-9565215-8, 7111934, 7111923-26

Fax: 88-02-9566352

 

Bank Name  

:

Islami Bank Bangladesh Limited

Bank Address

:

Motijheel Branch.

AD Branch       

9/1, Motijheel, Swantex Court Bhaban, Dhaka-1000, Bangladesh

Tel: 88-02-9514979-80

Fax: 88-02-7110531

 

 

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 Ninakabbo (Level-12~13), 227/A Tejgaon-Gulshan Link Road, Dhaka-1208, Bangladesh.  It is situated at Commercial Area.

 

 

GENERAL COMMENTS

The subject engaged in Manufacturer, Importer & Distributor. It is a well-known reputed company in Bangladesh. Their products popular to the local customers. So day by day the subject companies increase their goodwill. As well as its financial condition.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.08

UK Pound

1

INR 89.85

Euro

1

INR 80.16

BDT

1

INR 0.78

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

KET

 

 

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.