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MIRA INFORM REPORT
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Report No. : |
497257 |
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Report Date : |
10.03.2018 |
IDENTIFICATION DETAILS
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Name : |
LIBAS TEXTILES LIMITED |
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Registered Office : |
Jabbar Tower (11th Floor), 42, Gulshan
Avenue, Gulshan-1, Dhaka-1212 |
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Country : |
Bangladesh |
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Date of Incorporation : |
08.12.2005 |
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Com. Reg. No.: |
C-59864 |
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Legal Form : |
Private Co |
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Line of Business : |
Manufacturer, Exporter of Single/ Double Jersey, Single/ Double Lacoste, Pique, Wafle,
Fleece,Terry, Interlock, Interlock Pique, Plated, Jersey, Mesh, Rib Etc. with
or without Lycra. |
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No. of Employees : |
3500 |
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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 |
: |
LIBAS TEXTILES LIMITED |
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Head Office |
: |
Jabbar Tower (11th Floor), 42, Gulshan
Avenue, Gulshan-1, Dhaka-1212, Bangladesh.
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Tel No |
: |
88-02-9859690-1, 9859609-11 |
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Fax No |
: |
88-02-9859609 |
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E-mail |
: |
info@libastex.com,
mrahman@libastex.com |
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Website |
: |
www.libastex.com |
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Date/ Year of Incorporation |
: |
08.12.2005 |
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Incorporation No. |
: |
C-59864 |
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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 Cantonment Board Chief Controller
of Import & Export (CCIE) |
FINANCIALS- SUMMARY
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Year |
Turnover/ Sales |
Assets |
Income |
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30th
June’2015 |
BDT 797 Million |
BDT 178.25 Million |
BDT 46.22 Million |
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30th
June’2016 |
BDT 2273.03 Million |
BDT 1518.04 Million |
BDT 34.44 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr.
Morium Binte Mly |
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Designation |
: |
Senior
Officer & Admin |
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Contract No |
: |
88-01700761020 |
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Locations Details |
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Operating Address |
: |
Jabbar Tower (11th Floor), 42, Gulshan
Avenue, Gulshan-1, Dhaka-1212, Bangladesh.
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Tel No |
: |
88-02-9859690-1, 9859609-11 |
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E-mail |
: |
88-02-9859609 |
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Fax No |
: |
info@libastex.com,
mrahman@libastex.com |
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Website |
: |
www.libastex.com |
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Location : |
:
Owned |
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Rented |
Ö |
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Leased |
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Area |
4000 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
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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. |
Ö |
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Factory: |
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Address |
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Nichintopur, Mouchak, Kaliakar,
Gazipur, Bangladesh. |
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Tel No |
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88-02-9298495-6 |
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Fax No |
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88-02-9298497 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
260000 |
Sq. ft. |
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Branch: |
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Address |
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Elaipur, East Rupsa,
Khulna-9241, Bangladesh. |
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Tel No |
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88-041-800164, 800369 |
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Fax No |
: |
88-041-800190, 800370 |
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Employee: |
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No. of Employees |
In Office |
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65 |
In Factory |
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3435 |
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In Branch: |
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- |
Total
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3500 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No.
of Share |
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Mr. Md. Towhidur Rashman |
275500 |
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Mrs. Chand Sultana |
180500 |
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Mr. Md. Moshiur Rahman Chamak |
399000 |
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Mr. Masudur Rahman |
95000 |
DIRECTORS
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Name |
Designation |
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Mr. M. Towhidur Rashman |
Managing Director |
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Mrs. Chand Sultana |
Director |
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Mr. Md. Moshiur Rahman Chamak |
Director |
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Mr. Masudur Rahman |
Director |
MANAGEMENT
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Name |
: |
Mr.
M. Towhidur Rashman |
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Job Description |
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Managing
Director |
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Nationality |
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Bangladeshi. |
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Email address |
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N/A |
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Other details |
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N/A |
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Name |
: |
Mr.
Mahbubur Rahman. |
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Job Description |
: |
Manager
(Commercial) |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
88-01915471132 |
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Name |
: |
Mr.
Morium Binte Mly |
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Job Description |
: |
Senior
Officer & Admin |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
88-01700761020 |
BUSINESS
OPERATIONS
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Nature of Activity
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Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
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Exporter |
Ö |
Importer |
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Services
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Others |
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Range
of Products: |
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Products |
: |
Single/ Double Jersey, Single/
Double Lacoste, Pique, Wafle, Fleece, Terry, Interlock, Interlock
Pique, Plated, Jersey, Mesh, Rib Etc. with or without Lycra. |
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Production Capacity |
: |
N/A |
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Last
Year Production |
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Knitting: 9 Ton Per Day. Dyeing: 16 Ton Per Day. Printing: 30, 000 Ps Per Day. Garments: 54, 000 Ps Per Day. |
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 |
: |
BHS LIDL Adam Ferrari Abarth Moss Bross Sains Burys |
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Local Clients |
: |
N/A |
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Overseas Suppliers |
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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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N/A |
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Imports(Country) |
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China, India, Italy, Canada. |
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Brand Name |
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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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Member |
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Dhaka Chamber of Commerce. Bangladesh Knitwear
Manufacturers & Exports Association. |
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CAPITAL
STRUCTURE
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Authorized Capital |
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BDT 200 Million |
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Paid-up Capital |
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BDT 95000000 |
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No.
of Shares |
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950000 |
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Share
Value |
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BDT 100.00 Each |
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Main Assets |
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BDT 1518.04 Million |
FINANCIAL
STATEMENT- DETAILED
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Summary information has been given. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
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Fresh Food Ltd. |
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Subsidiary |
: |
N/A |
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Name of The Group |
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Fresh Group of Companies. |
BANKING
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Bank Name |
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Islami
Bank Bangladesh Ltd. |
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Bank Address |
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Gulshan Branch. Gulshan-1, Dhaka, Bangladesh Tel: 88-02-8850352 |
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Bank Name |
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Standard Bank Ltd. |
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Bank Address |
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Gulshan Branch. 4/A, Kemal Ataturk Avenue ,
Gulshan-2, Dhaka- 1212, Bangladesh Tel: 88-02-9881015 , 02-8852679
Fax : 88-02-9885164 |
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Bank Name |
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Shajalal Islami Bank Ltd. |
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Bank Address |
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Gulshan Branch. 40/5, North Avenue, Gulshan-2,
Dhaka-1212, Bangladesh Tel: 88-02-9890520-1, 9893454,
9890322 |
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Bank Name |
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Jamuna Bank Ltd. |
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Bank Address |
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Gulshan Branch. Land View Commercial Center,
28, Gulshan North C/A, Gulshan Circle-2, Gulshan, Dhaka, Bangladesh Tel: 88-02-8852540, 8861281 |
ADVERSE
DATA MONITORING
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Dishonored Checks |
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No Record Found |
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Debt |
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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 |
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No Record Found |
SITE
VISIT COMMENTARY
|
Our Representative Visited the subject company address at
Jabbar Tower, (11th Floor), 42, Gulshan Avenue, Gulshan-1, Dhaka-1212,
Bangladesh. It’s situated at a Residential Area. |
GENERAL
COMMENTS
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The subject company is reputed company in this line of
business. We recommended that Credit can proceed normally in Moderate Amount |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
INR 65.07 |
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|
1 |
INR 89.85 |
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Euro |
1 |
INR 80.16 |
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BDT |
1 |
INR 0.78 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
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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.