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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

497313

Report Date :

10.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

REGENCY THREE LIMITED.

 

 

Registered Office :

Plot# 37~40, Sector# 1-7, CEPZ, Halishahar, Chittagong- 4216

 

 

Country :

Bangladesh

 

 

Financials (as on) :

30.06.2017

 

 

Date of Incorporation :

23.01.2002

 

 

Com. Reg. No.:

C-44936

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Manufacturer, Exporter, Importer, Woven Pants, Trousers, Shorts and Skirts.      

 

 

No. of Employees :

4114

 

 

 

 

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.

 

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Regency Three Limited.

Head Office

:

Plot# 37~40, Sector# 1-7, CEPZ, Halishahar, Chittagong- 4216,

Bangladesh.

Tel No

:

88-031-740026   

Fax No

:

88-031-740020 

E-mail

:

ajitwijesinghe@regencybd.com, regency@regencybd.net

Website

:

Nil

Date/ Year of Incorporation

:

23.01.2002

Incorporation No.

:

C-44936

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 Million

BDT  92.81 Million

BDT 49.47 Million

30th June’2017

BDT 1397 Million

BDT 138.90 Million

BDT 57.63 Million

 

 

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Janak Bhagawandas Hirdaramani

Designation

:

Managing Director

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

Plot# 37~40, Sector# 1-7, CEPZ, Halishahar, Chittagong- 4216,

Bangladesh.

Tel No

:

88-031-740026   

Fax No

:

88-031-740020 

E-mail

:

ajitwijesinghe@regencybd.com, regency@regencybd.net

Website

:

Nil

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

6500

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

Factory Unit-1:

Address

:

Plot# 13-18, Sector# 8, CEPZ, Chittagong, Bangladesh.

Tel No

:

88-031-741185

Fax No

:

Nil

 

 

 

Factory Unit-2:

Address

:

Plot# 23-30 & 43-48, Sector# 8, CEPZ, Chittagong, Bangladesh.

Tel No

:

88-031-740026

Fax No

:

Nil

 

Branch:

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

No. of Employees 

 

In Office

:

100

In Factory

:

4014

In Branch:

:

N/A

Total

:

4114

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

No. of Share

Mr. Janak Bhagawandas Hirdaramani

500

Mr. Mahesh Lalchand Hirdaramani

500

Comtextile (H.K.) Ltd

727450

 

 

 

DIRECTORS

 

Name

Designation

Mr. Janak Bhagawandas Hirdaramani

Managing Director

Mr. Mahesh Lalchand Hirdaramani

Director

Mr. K. A. D. Wijesinghe

Director

 

 

MANAGEMENT

 

Name

:

Mr. Janak Bhagawandas Hirdaramani

Job Description

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Moslem Uddin.

Job Description

:

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

:

Woven Pants, Trousers, Shorts and Skirts.      

Production Capacity

:

4, 50,000 Doz. 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

:

M&S                                                                                 

Levi’s                                                                                  

Temma

Perry Ellis

Dunes stores

American eagle

The Children Place

 

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

 

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports

:

Europe

 

Imports

:

China, Taiwan, Hong Kong, India.

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Garments Manufacturer & Exporters Association

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 500 Million

 

Paid-up Capital

:

BDT 72845000

 

No. of Shares

:

728450

 

Share Value

:

BDT100.00Each

 

Main Assets

:

BDT 138.90 Million

 

 

FINANCIAL STATEMENT- DETAILED

 

Summary Information Given.

 

 

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Comtextile (HK ) Ltd

Paxar Lanka (Pvt) Ltd

Ocean Lanka (Pvt) Ltd.

Regency Garments Ltd.

Star Packaging (Pvt) Ltd.

Ceylon Knit Trend Limited

Kahathuduwa and Kuruwita

Kenpark Bangladesh (Pvt) Ltd

Hirdaramani (Industries) Limited

Fashion Garments Limited – Vietnam

Kenpark Bangladesh Apparel (Pvt) Ltd

Regency Garments Limited – Bangladesh

Hirdaramani Garments (Katunayake) Limited

Hirdaramani - Mercury Apparel (Private) Limited

Subsidiary

:

N/A

Name of  The Group

:

Hirdaramani Group of Companies. 

 

 

BANKING

 

 

 

Bank Name  

:

Commercial Bank of Ceylon.                                                                 

 

Bank Address

:

Agrabad Branch

71, Agrabad C/A, P. O. Box 787, Chittagong, Bangladesh.

Tel: 88-031-713325-7

 

 

 

Bank Name  

:

HSBC Bank Ltd.                                                                                   

 

Bank Address

:

Agrabad Branch

Osman Court, 70, Agrabad Commercial Area, Chittagong-4100, Bangladesh.

Tel: 88-031-724406, 723750, 711154, 710008

Fax: 88-031-710007

 

 

Bank Name  

:

City Bank Ltd.

Bank Address

:

Agrabad Branch

11, Rnlay House, Agrabad Commercial Area, Chittagong-4100, Bangladesh.

Tel: 88-031-716210, 502638

Fax: 88-031-720962

 

Bank Name  

:

Standard Chartered Bank Ltd.

Bank Address

:

Agrabad Branch

PHP House, 31, Agrabad C/A, Chittagong, Bangladesh

 

 

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 Plot# 37~40, Sector# 1-7, CEPZ, Halishahar, Chittagong- 4216, Bangladesh. It is Situated At Commercial Area.

 

 

GENERAL COMMENTS

The subject company is reputed company in this line of business. We recommended that Credit can proceed normally in Moderate Amount.

 

 

 

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 :

DIV

 

 

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.